SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report Pursuant to Section 13 or 15(d) of
The Securities Act of 1934
Date of Report (Date of earliest event reported): October 4, 2001
Novo Networks, Inc.
(Exact name of registrant as specified in its charter)
Delaware 0-28579 75-2233445
(State or other jurisdiction of (Commission File Number) (IRS Employer
incorporation) Identification No.)
300 Crescent Court, Suite 1760, Dallas, TX 75201
(Address of principal executive offices (Zip Code)
Registrant's telephone number, including area code:
(214) 777-4100
(Former Name or Former Address, if Changed Since Last Report)
ITEM 5. OTHER EVENTS.
On October 4, 2001, Novo Networks, Inc. issued a press release announcing
that its principal operating subsidiaries - Novo Networks Operating Corp.,
AxisTel Communications, Inc., and e.Volve Technology Group, Inc. - filed a
reorganization plan and disclosure statement with the U.S. Bankruptcy Court for
the District of Delaware. The proposed plan contemplates a restructuring of debt
and other financial obligations of the subsidiaries, while refocusing the
surviving operating entity on e.Volve's existing international
telecommunications services.
The proposed disclosure statement has not been approved by the Bankruptcy
Court, which has scheduled a hearing to consider approval of the proposed
disclosure statement for November 5, 2001. In addition, approval of a plan of
reorganization is subject to certain voting and confirmation requirements in
accordance with the U.S. Bankruptcy Code.
The Notice of Hearing, Proposed Disclosure Statement, Plan of
Reorganization dated October 4, 2001 and the aforementioned press release are
attached as Exhibits 2.1, 2.2, 2.3 and 99.1, respectively, to this Form 8-K and
are incorporated herein by reference.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits.
Exhibit No. Description
----------- -----------
2.1 Notice of Hearing to Consider Approval of Disclosure Statement.
2.2 Proposed Disclosure Statement with respect to the Joint Plan by
AxisTel Communications, Inc., its Affiliated Debtors and Novo
Networks, Inc. dated October 4, 2001.
2.3 Joint Plan of Reorganization by and between AxisTel
Communications, Inc., Novo Networks Global Services, Inc.,
Novo Networks International Services, Inc., e.Volve Technology
Group, Inc., Novo Networks Operating Corp., Novo Networks
Metro Services, Inc. (collectively, the debtors and debtors in
possession), and Novo Networks, Inc. dated October 4, 2001.
99.1 Text of Press Release dated October 4, 2001.
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the Registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
NOVO NETWORKS, INC.
Date: October 16, 2001 /s/ DANIEL J. WILSON
-----------------------------------
Name: Daniel J. Wilson
Title: Chief Financial Officer
Index to Exhibits
Exhibit No. Description
----------- -----------
2.1 Notice of Hearing to Consider Approval of Disclosure Statement.
2.2 Proposed Disclosure Statement with respect to the Joint Plan by
AxisTel Communications, Inc., its Affiliated Debtors and Novo
Networks, Inc. dated October 4, 2001.
2.3 Joint Plan of Reorganization by and between AxisTel
Communications, Inc., Novo Networks Global Services, Inc., Novo
Networks International Services, Inc., e.Volve Technology
Group, Inc., Novo Networks Operating Corp., Novo Networks Metro
Services, Inc. (collectively, the debtors and debtors in
possession), and Novo Networks, Inc. dated October 4, 2001.
99.1 Text of Press Release dated October 4, 2001.