SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES AND EXCHANGE ACT
Date of report (Date of earliest event reported):March 27, 2000
--------------
FINANCIAL INTRANET, INC.
------------------------
(Exact Name of Registrant as Specified in Charter)
Nevada 7375 88-0357272
- ------------------------ ------------- --------------
State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
116 Radio Circle, Mt. Kisco, New York 10549
- ----------------------------------------------------------------------------
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (914) 242-4848
-----------------
Item 4. Acquisition or Disposition of Assets.
On March 23, 2000, pursuant to an Asset Purchase Agreement between the
Company and LongYin Network Technology Co., Ltd. d/b/a Cyber Information Systems
Co., Ltd. ("Seller"), the Company purchased assets of Seller, including (i) the
domain names and registration thereof, the goodwill of the business connected
with and symbolized by such domain names, and any intellectual property rights
relating thereto; (ii) all information and intellectual property related to or
available through the domain names and/or resident on the host servers operated
by or on behalf of Long Yin Network Technology Co., Ltd; and (iii) an e-mail
magazine and all information and intellectual property related to, contained in
or accessible through the e-mail magazine.
The purchase price of the assets was as follows:
(i) 675,000 shares of common stock, par value $.001 per share; (ii) cash
totaling $200,000; (iii) in the event that not less than nine existing Internet
content providers of Seller enter into written agreements with the Company to
provide content and other services on or before June 30, 2000, 175,000 shares of
common stock, par value $.001 per share; and (iv) in the event that the People's
Republic of China and its political subdivisions (collectively "PRC") approve
the Company's organization and ownership of a foreign owned utility for the
purpose of the Company's ownership, operation, use and maintenance of the
acquired assets and the Company's receipt of all consents, approvals, orders,
authorizations, registrations or qualifications from the PRC necessary for such
foreign owned enterprise to own, operate, maintain and uses a server located in
the PRC and download and upload electron files, materials and other data
therefrom or thereto on or before September 30, 2000, cash totaling $200,000 and
500,000 shares of common stock, par value $.001 per share.
The cash portion of the purchase price was obtained from the sale of
common stock pursuant to a registration statement declared effective in October
1999.
LongYin Network Technology Co., Ltd. d/b/a Cyber Information Systems Co.,
Ltd. is considered a Chinese Internet content provider.
Item 7. Financial Statements and Exhibits
(c) Exhibits
(2) Asset Purchase Agreement by and among Financial Intranet, Inc. and
LongYin Network Technology Co., Ltd. d/b/a Cyber Information Systems Co., Ltd.
SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of
1934, the registrant has duly caused this report to be signed on behalf by the
undersigned hereunto duly authorized.
April 11, 2000 FINANCIAL INTRANET, INC.
By: /s/ Corey Rinker
Corey Rinker, Vice President