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): November 20, 2000
APPLIED DIGITAL SOLUTIONS, INC.
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(Exact name of registrant as specified in its charter)
Missouri
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(State or other jurisdiction of incorporation)
000-26020
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(Commission File Number)
43-1641533
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(IRS Employer Identification No.)
400 Royal Palm Way, Suite 410, Palm Beach, Florida 33480
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: 561-366-4800
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Item 2. Acquisition or Disposition of Assets
On November 20, 2000, the Registrant consummated an agreement (the
"Acquisition Agreement") with MCY.com, Inc., a Delaware corporation ("MCY"),
pursuant to which the Registrant agreed to acquire certain license rights to
proprietary technologies that will be integrated into existing product sets,
most notably NetVu and the Digital Angel Delivery System which will provide data
warehousing, management and distribution, customer service routing, and data
security and authentication. The proprietary technologies are expected to
provide complete functionality in areas such as fulfillment, customer service
routing, credit card authorization, accounting management, information entry,
file storage, and content management-distribution, and will form the basis of
the Digital Angel Delivery System, offering key features such as integration and
synchronization of Internet video and audio and data tracking, which are key to
providing an efficient and secure site for Digital Angel subscribers.
Pursuant to the terms of the Acquisition Agreement, the Registrant
delivered approximately 11.8 million shares of its common stock to MCY for the
exclusive rights to the proprietary technologies.
Additional information with respect to the terms of the Acquisition
Agreement is set forth in the Acquisition Agreement which is incorporated herein
by reference and attached hereto as Exhibit 2.1.
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Item 7. Financial Statements and Exhibits.
(a) Financial statements of business acquired:
Not applicable.
(b) Pro forma financial information
Not applicable.
(c) Exhibits.
2.1 MCY Agreement dated as of October 19, 2000 by and between
MCY.com, Inc., a Delaware corporation and Applied Digital Solutions,
Inc., a Missouri corporation.
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SIGNATURES
Pursuant to the requirements of the Securities Act of 1934, the Registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
APPLIED DIGITAL SOLUTIONS, INC.
(Registrant)
Date: December 5, 2000 /s/ David I. Beckett
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David I. Beckett
Vice President and General Counsel
