THIS IS HUGE NEWS FOR A 9c STOCK.....THE QUESTION IS, HOW MANY O/S SHARES, AND WHAT'S THE FLOAT.
NEVERMIND....HERE'S THE BAD NEWS..
The approximate number of shares outstanding of the Registrant's common stock on December 31, 1999 was 746,200,414. The approximate number of "A" Warrants outstanding as of December 31, 1999 was 7,227,280 convertible into 7,227,280 shares of common stock at $.20 per share. Each outstanding "A" Warrant, upon exercise, will result in the issuance of one redeemable "B" Warrant. As of December 31, 1999 there were approximately 272,720 "B" Warrants outstanding exercisable into 272,720 shares of common stock at $.50 per share.
Applies to -- SFAD
Safe Technologies Executes Binding Letter of Intent With Acquisition Companies
Safe Technologies Executes Binding Letter of Intent With Acquisition
Companies
PALM BEACH, Fla., Jun 28, 2000 /PRNewswire via COMTEX/ -- Safe Technologies
International, Inc. (OTC Bulletin Board: SFAD) announced today that the Company
has entered into a binding letter of intent with the controlling shareholder of
two acquisition companies.
Brad Tolley, V.P. of Investor Relations, said, "These acquisitions are
consistent with our business plan of growth by acquisition with the objective of
increasing shareholder value. Due diligence and certified audits are underway.
It is expected that the first acquisition will close within 45 days."
The first slated acquisition will be of a four-year-old Automobile superstore
chain, with a hub-and-satellite group of five stores in Florida. Their business
strategy presents a 'New Car Alternative,' displayed in an upscale showroom
setting. Growth plans are a 'niche' for national 'Secondary Market' locations.
The unaudited financial statements of this company for 1999 reflect assets of
$15,000,000 and net after-tax profit of $678,000 on revenues of $71,000,000.
Safe Technologies will acquire at closing an 80% equity ownership position in
this company.
Mr. Tolley continued, "We are also very pleased with the second acquisition
prospect which relates to the construction industry, offering us tremendous
potential for global expansion. The acquisition includes patented proprietary
systems, three years of R&D, management contracts, etc. To date, the business
development endeavors of this acquisition have resulted in the development of
several revolutionary bonding and strength proprietary products for the
rehabilitation of infrastructures, e.g. water and sewerage systems, storm water
systems, airports, bridges, highways, tunnels, roofs and buildings. These
products can also be used in new construction. Revenue projections for the first
year after acquisition are $12,000,000, in the second year are $47,268,000, and
are $132,726,000 in the third year. SFAD will acquire at closing an 80% equity
ownership position in this company as well."
Mr. Tolley concluded with, "It is certainly our intention to remain an Internet
player. Management believes that the acquisition of these bricks- and-mortar
businesses when combined with Safe Tech's existing core competencies in the
Internet-based e-commerce arena, will create the opportunity for a particularly
robust 'bricks-and-clicks' business model, significantly enhancing our market
position. In connection with these acquisitions, SFAD plans to open a corporate
office in Tampa, Fla., in addition to our existing Palm Beach, Fla., office."
Forward-Looking Statements: Except for the historical information contained
herein, this news release may contain forward-looking statements within the
meaning of Section 27A of the Securities Act of l934, as amended, that may
involve risks and uncertainties, including those relating to: (i) the Company's
ability to consummate the closing of the acquisitions referred to above; (ii)
the ability to successfully integrate the acquisition companies' business models
into the existing business model of Safe Technologies; (iii) the accuracy of the
preliminary unaudited financial results; (iv) the ability of the target
companies to achieve the projected levels of revenues after the combination; (v)
the effectiveness of management of the prospective combined entity; (vi) the
availability of suitable financial resources to launch the business plan; (vii)
the capabilities of key management personnel; (viii) the unproven market for
SFAD's existing products and services on the Internet platform; (ix) the
reported financial performance of the first acquisition target stated above; (x)
the successful development of construction industry markets for the patented
proprietary systems; and (xi) any other risk detailed from time to time in the
Company's SEC reports, including, but not limited to, Form 10-KSB for the year
ended December 31, 1999, and subsequent SEC filings.
SOURCE Safe Technologies International, Inc.
CONTACT: Brad Tolley, VP Investor Relations, Safe Technologies
International, Inc., 561-832-2700, or investor.relations@safetechnologies.com
URL: safetechnologies.com
prnewswire.com
(C) 2000 PR Newswire. All rights reserved.
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KEYWORD: Florida
INDUSTRY KEYWORD: REA
CPR
MLM
SUBJECT CODE: TNM
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