SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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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): March 7, 1997
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Atlantic International Entertainment, Ltd.
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(Exact name of registrant as specified in its charter)
Delaware 0-27256 13-3858917
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
2200 Corporate Boulevard, Suite 317, Boca Raton, Florida 33431
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(Address of principal executive offices)
Registrant's telephone number, including area code: (407) 995-2190
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(Former name or former address, if changed since last report.)
ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS.
Pursuant to an Agreement for Purchase and Sale of Stock dated
as of January 31, 1997 (the "Agreement"), by and among Atlantic International
Entertainment, Ltd., a Delaware corporation (the "Registrant"), EmiNet Domain,
Inc., a Delaware corporation ("EmiNet"), and Thomas Bagli, Michael Carpenter,
Michael Wertheimer, Sinjay Jindal and Avraham Uriel Cahmish, the stockholders of
EmiNet (collectively, the "Sellers"), on March 7, 1997, the Registrant
consummated the acquisition of 100% of the outstanding stock of EmiNet. A copy
of the Agreement is attached hereto as an exhibit and incorporated herein by
reference. In exchange for their respective shares of EmiNet stock, the Sellers
received an aggregate of 200,000 shares of the Registrant's common stock, $.001
par value per share (the "AIE Common Stock"). Pursuant to the Agreement, the
Sellers will receive additional shares of AIE Common Stock having a market value
based upon the net profits of EmiNet for the 1997 and 1998 fiscal years. The
consideration paid to the Sellers was determined by negotiations among the
parties and was based on the value of the business of the EmiNet on an ongoing
basis.
EmiNet is an internet service provider and a developer of
internet related products.
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ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL
INFORMATION AND EXHIBITS.
(a) Financial Statements of Business Acquired: It is impracticable
to provide the required financial statements at the time this
Report is filed. The required financial statements will be
filed as soon as practicable, but no later than 60 days after
this Report must be filed.
(b) Pro Forma Financial Information: It is impracticable to
provide the required pro form financial information at the
time this Report is filed. The required pro forma financial
information will be filed as soon as practicable, but no later
than 60 days after this Report must be filed.
(c) Exhibits:
(2) Agreement for Purchase and Sale of Stock dated as of
January 31, 1997 by and among the Registrant,
EmiNet, and the Sellers.
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SIGNATURE
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.
ATLANTIC INTERNATIONAL
ENTERTAINMENT, LTD.
Dated: April 11, 1997 By: /s/ Richard Iamunno
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Name: Richard Iamunno
Title: President
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