FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
Report of Foreign Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
For the month of August, 2000
Fantom Technologies Inc.
(Registrant's name)
1110 Hansler Road
Welland, Ontario, Canada L3B 5S1
(905) 734-7476
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports
under cover Form 20-F or Form 40-F:
Form 20-F____ Form 40-F X
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Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes_____ No X
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Documents Included as Part of this Report
No. Document
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1. Press release dated August 17, 2000.
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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, thereunto duly authorized.
Date: August 17, 2000
FANTOM TECHNOLOGIES INC.
By: "Walter J. Palmer"
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Name: Walter J. Palmer
Title: Secretary
NEWS RELEASE
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Earnings Warning Announced By
Fantom Technologies Inc.
TORONTO, August 17, 2000 - Fantom Technologies Inc. (TSE: FTM; NASDAQ: FTMTF)
announced today that, although its financial results for the fiscal year ended
June 30, 2000 have not yet been finalized, it is expected that the results will
show that the Company incurred a loss for the three months ended June 30. The
Company nevertheless expects to realize a profit for the full fiscal year.
Financial results are expected to be released later this month.
The Company indicated that, as was the case during the prior quarter, the fourth
quarter financial results have been adversely affected by decreased revenues
resulting from intense competitive activity within the bagless segment of the
vacuum-cleaner market. Fantom Technologies' President and Chief Executive
Officer, Allan Millman said, "All of our major competitors have now introduced
bagless vacuums in response to widespread consumer demand. This has resulted in
increased "clutter" at retail, a higher level of perceived inter-changeability
of products among consumers, and a cycle of price reductions. The consequence
has been a significant reduction in our revenues.
"By aggressively reducing costs and repositioning retail price points, we have
taken steps to strengthen our core business. In addition, to create added
consumer value, we recently introduced a new "Limited Edition" model of the
FURY(TM) vacuum and plan to add a major new feature to this and other models in
the line in the first half of 2001."
The Company also stated that planned new product introductions are expected to
re-establish its competitive advantage and increase revenues. Commercial
shipments of the new FANTOM(R) CALYPSO(TM) Microbiological Water Purifier are
expected to commence this Fall. This countertop appliance incorporates processes
used by the world's most advanced municipal water-treatment systems to kill
dangerous microorganisms. It also eliminates or reduces many other contaminants
and
provides great-tasting water. Also, a new full-size wireless vacuum cleaner is
planned for introduction in the first half of 2001. This remarkable machine has
been designed by the Company to be `library quiet' and provide full power for up
to one full hour before its energy system needs to be regenerated.
About Fantom Technologies
Fantom Technologies Inc. of Ontario, Canada is a growth-oriented, household-
appliance company, seeking the best ideas in technology that will make daily
living better for consumers. Over the past five years, Fantom has changed the
face of the vacuum cleaner industry in North America with its line of dual-
cyclonic vacuums. The Company is developing several new products based on
proprietary technology and has aggressive plans to expand the markets and
geographic territories in which it competes. Since May 1998, eighty-five
utility patent applications have been filed for technologies the Company is
either acquiring or exclusively licensing through its association with
Omachron Technologies, Inc.
For more information about Fantom Technologies, visit the Company's web site at
www.fantom.com.
The foregoing information includes certain statements relating to the Company
which are forward-looking statements under Section 21E of the United States
Securities Exchange Act of 1934. The words "expected", "planned" and similar
expressions, as they relate to the Company or its management, are intended to
identify forward-looking statements. Such statements are based on assumptions
made by, and information available to, the Company. However, there are
important factors that could cause actual results to differ materially from
those in such forward-looking statements including, among others, the
contingencies arising from the uncertainties which are inherent in the
development of new technology and the unanticipated costs and time delays which
often arise in the process of developing new products based on innovative
technology. The Company does not intend, and assumes no obligation, to update
the forward-looking statements to reflect actual results, changes in assumptions
or changes in other factors affecting such statements.
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