UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
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 reported): October 12, 2001
Hot Products, Inc.com
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(Exact name of registrant as specified in its charter)
Arizona 0-27382 86-0737579
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
7625 E. Redfield Road Suite 200 85260
Scottsdale, Arizona
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: 480-368-9490
ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS
On October 10, 2001, the Registrant entered into a Preliminary
Agreement for Merger with International Global Positioning, Inc. (IGP), a Nevada
Corporation. International Global Positioning, Inc. will be merged into Hot
Products, Inc.com, (HPIC) with Hot Products, Inc.com being the surviving
corporation. The closing of the purchase transaction is intended to occur no
later than November 30, 2001.
As part of this transaction the Surviving Corporation's name will be changed to
International Global Positioning, Inc.
This proposed merger between International Positioning Inc. and Hot Products
Inc.com is viewed by HPIC's Board of Directors as an essential mechanism for
ensuring the future interests of the company and its shareholders. The combined
new entity will create a synergy and industry dynamics that offer it the ability
to successfully penetrate numerous markets around the world.
IGP stands on the forefront of the next burgeoning industry, Global Satellite
technology. IGP is positioned to become a global leader in the development and
distribution of numerous consumer-oriented devices that incorporate State-of-the
Art, Global Positioning Technology. IGP's first device, RES-Q1, targeted at the
North American automotive industry, is a Telematic, Automatic Tracking and
Security System, that offers "real-time" security surveillance and personal
tracking capabilities. HPIC alleges that IGP's RES-Q1 product and marketing
program, incorporates enhanced features that makes it more "user friendly" than
GM's On-Star system, and which should also dramatically impact sales of current
market leader, LoJack, which utilizes the obsolete RF technology, as compared
to QPS. The RES-Q1 device is one of many innovative new products planned for
introduction by IGP that will address a wide spectrum of the Automotive,
Consumer and Pet market categories.
HPIC, is quickly becoming recognized as an innovative industry leader in the
development and distribution for a wide range of comprehensive Road Emergency
and Automotive Survival products. HPIC currently supplies its products to Toyota
Motor Sales, Harley Davidson, Jiffy Lube, Polaris Industries, Plow & Hearth etc.
HPIC plans to integrate its entire line under IGP's RES-Q brand name upon
completion of the merger.
HPIC feels strongly that through this merger, which will allow it direct access
to the over 100,000 automotive dealerships, throughout North America, combined
with the product development, marketing and management expertise of the new
entity, that IGP will have created an industry dynamics and product marketing
synergy, unparalled within the industry, that should greatly enhance shareholder
value for the investors of both companies.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(a) Financial statements of businesses acquired.
None.
(b) Pro Forma Financial Information.
None.
(c) Exhibits.
Exhibit
Number Exhibit Description
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99.1 Preliminary Agreement for Merger
Signature
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 thereunto duly authorized.
HOT PRODUCTS, Inc.com
By: /s/ James L. Copland
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James L. Copland
President and Chief Operating Officer
Dated: October 12, 2001
EXHIBIT INDEX
Exhibit
Number Exhibit Description
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99.1 Preliminary Agreement for Merger