UNITED STATES
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 10, 1998
Fresh'n Lite, Inc.
(Exact name of registrant as specified in its charter)
State of Texas 001-13559 75-2337102
(State of incorporation) (Commission File No.) (IRS Employer Identification No.)
1705 E. Whaley
Longview, Texas 75605
(Address of principal executive offices) (Zip code)
No change
(Former name of address, if changed since last report).
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Item 5. Other events
Fresh'n Lite, Inc. issued the following press release on September 9, 1998.
For Immediate Release
Fresh'n Lite, Inc.
1705 E. Whaley
Longview, Texas 75601
800-259-2675
903-758-1666 facsimile
Contact: Curtis A. Swanson, Chief Financial Officer
Press Release
Fresh'n Lite, Inc. announces name change and mandatory certificate recall
Longview, Texas -Fresh'n Lite, Inc. (FLTT) announced today that as part of its
positioning as a multi concept restaurant holding company, it is changing its
name to "Restaurant Teams International, Inc.". The Company is requesting the
new symbol of RTIN to coincide with its new name.
The change of the name was selected to reflect the new focus of the Company. As
stated in a release yesterday, the Company's management, along with its new
consultant is currently exploring several possible acquisitions both for the
growth of the Company's Street Talk Cafe concept as well as additional concepts
with potential for expansion and development.
The terms of the conversion will be as follows: The record date for the
conversion will be September 18th, 1998. Each shareholder of record of Fresh'n
Lite, Inc. as of that date will receive one (1) share of Restaurant Teams
International, Inc. (RTIN) in exchange for each one (1) share of Fresh'n Lite,
Inc. (FLTT). Additionally, each shareholder as of the record date will receive
one (1) warrant to purchase an additional share of RTIN for a period of 24
months following the record date with a strike price of $5.00 per share for each
ten (10) shares of Fresh'n Lite, Inc. (FLTT) held as of the record date. The
shares must be returned to the transfer agent and exchanged for new certificates
in order to receive the warrant and receive valid shares of Restaurant Teams
International, Inc. (RTIN). Official notice will be sent to each shareholder of
record as well as all brokers, market makers, and the Depository Trust Company
by the company's transfer agent.
The Company will continue to trade under the symbol FLTT until the name and
symbol change are completed at which time an announcement will be released
reflecting the new trading status.
Curtis A. Swanson, Chief Financial Officer of the Company stated: "The name
change is instrumental in the positioning of our company. We believe changing
the Company's name will heighten public awareness and increase our visibility.
In the eye's of the public, positioning the Company for the growth of the Street
Talk Cafe concept as well as preparing for the acquisitions we are exploring are
better served through the name Restaurant Teams International, Inc."
Henry Leonard, President and Chief Operating Officer stated: "With a strong
management team in place and the expansion avenues available, we recognize the
need for a name that would reflect our growth strategy both through internal
development and acquisitions. The name Restaurant Teams International, Inc.
better represents the direction of our Company and the excitement we feel about
our future."
Fresh'n Lite, Inc. is the developer and operator of the Street Talk Cafe and
Fresh'n Lite Cafe & Grill concepts, full service casual dining concepts
featuring over 100 choices of low fat and non-fat menu items without
compromising taste, service, or atmosphere.
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This press release contains forward looking statements, which are generally
preceded by words such as "believes", "expects", "anticipates", or "intends".
Such statements are subject to risks and uncertainties, including but not
limited to competitive conditions, weather, real estate zoning and permitting
complications, and general conditions in the restaurant market.
For further information contact: Curtis A. Swanson, Chief Financial Officer at
1-800-259-2675.
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Fresh'n Lite, Inc.
Date: September 10, 1998 By: /s/ Stanley L. Swanson
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Stanley L. Swanson
Chief Executive Officer
(Signature)
Date: September 10, 1998 By: /s/ Curtis A. Swanson
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Curtis A. Swanson
Chief Financial Officer
(Signature)
