U.S. Securities and Exchange Commission
Washington, D.C. 20549
Form 8-K
Current Report
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (date of earliest event reported): September 24, 1999
Commission file number 0-22464
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KOALA CORPORATION
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(Exact name of small business issuer
as specified in its charter)
Colorado 84-1238908
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(State or other jurisdiction of (IRS Employer Identification No.)
incorporation or organization)
11600 E. 53rd Avenue, Unit D, Denver, CO 80239
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(Address of principal executive offices)
(303) 574-1000
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(Issuer's telephone number)
Not Applicable
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(Former name, former address, and former fiscal year,
if changed since last report)
<PAGE>
ITEM 2. ACQUISITION OF ASSETS
On September 24, 1999, Koala Corporation (the "Company"), acquired
certain of the assets of Smart Products, Inc., a Kentucky corporation ("Smart
Products"). Founded in 1988, Smart Products designs, manufactures and markets
infant safety and customer service products.
The purchase price and terms were negotiated on an arms length basis
with Smart Products. No principal of Smart Products had a relationship with the
Company prior to the transaction.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS
(c) Exhibits.
99.1 Press Release.
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<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
KOALA CORPORATION
Date: October 8, 1999 By: /s/ Mark A. Betker
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Mark A. Betker, Chairman and Chief
Executive Officer
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Exhibit 99.1
KOALA CORPORATION ACQUIRES SMART PRODUCTS, INC
September 24, 1999
Acquisition Complements Core Line of Commercial Child Care Products
DENVER, Colorado -- Koala Corporation (Nasdaq National Market-KARE), an
integrated provider of systems and solutions designed to help businesses become
"family friendly," today announced it has acquired certain assets of Smart
Products, Inc. a Charlotte, North Carolina manufacturer and distributor of child
safety and parental convenience products.
Smart Products, Inc. designs, manufactures and markets infant safety and
customer service products including shopping cart seats, highchairs and
SmartStrap(TM) child protection straps. Smart Products' customers include many
leading grocery stores, retailers and restaurants throughout the United States.
The Smart Products line will be folded into Koala's existing line of commercial
childcare products and reported in Koala's convenience and activity segments.
"This is an excellent complementary acquisition, enhancing Koala's commitment to
offering comprehensive family friendly solutions" said Mark Betker, Koala's
chairman and CEO.
Founded in 1986, Koala Corporation is an integrated provider of product systems
and solutions designed to help business become "family friendly." The Company
develops and markets a wide variety of infant and child protection and
activities products, which are marketed under the Company's recognizable "Koala
Bear Kare" brand name. Koala's strategic objective is to address the growing
commercial demand for products and solutions that help businesses create family
friendly atmospheres for their patrons.
Koala also announced that its website has been redesigned and updated. Located
at www.koalabear.com, Koala's website features in-depth product information,
company background and investor relations information.
Statements made in this news release that are not historical facts may be
forward looking statements. Actual results may differ materially from those
projected in any forward looking statement. There are a number of important
factors that could cause actual results to differ materially from those
anticipated by any forward looking information. A description of risks and
uncertainties attendant to Koala Corporation and its industry and other factors
which could affect the Company's financial results are included in the Company's
Annual Report on Form 10-KSB on file with the Securities and Exchange
Commission.
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CONTACTS:
Koala Corporation
Mark A. Betker,
Chairman and CEO
303.574.3423
http://www.koalabear.com
