SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
Current Report Pursuant
to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report: January 29, 1999
STYLEX HOMES, INC.
(Exact Name of Registrant as Specified in its Charter)
NEW YORK
(State or Other Jurisdiction of Incorporation)
0-5388 16-0961436
(Commission File Number) (I.R.S. Employer Identification Number)
3035 Main Street, Voorhees, N.J. 08043
(Address of Principal Executive Offices) (Zip Code)
(215) 388-0323
(Registrant's Telephone Number, Including Area Code)
INFORMATION INCLUDED IN THIS REPORT
ITEMS 1 THROUGH 4, 6 THROUGH 9 NOT APPLICABLE.
ITEM 5. OTHER EVENTS.
(i) Reference is made to the press release issued to the public by the
Registrant on January 27, 1999, the text of which is attached hereto as
Exhibit 99.1, for a description of the events reported pursuant to this
Form 8-K.
INDEX TO EXHIBITS
Exhibit Description
99.1 Text of press release dated January 27, 1999
Exhibit 99.1
Stylex Homes Inc. Signs Letter of Intent to Merge With Cytation Corp.;
Merged Company to be Renamed Cytation.com
Business Wire - January 27, 1999 14:06
VOORHEES, N.J.--(BUSINESS WIRE)--Jan. 27, 1999--Stylex Homes Inc. (OTC
BULLETIN BOARD: SYLX) announced today that it has signed a binding letter of
intent to merge with Cytation Corp., a Middletown, R.I. provider of Internet
training services to corporate and government markets.
The merger, which is subject to approval by shareholders of both companies, is
expected to be completed by mid-February. At that time, all of the assets of
Cytation will transfer to Stylex, and Stylex will issue 6,465,338 common
shares to the shareholders of Cytation. Cytation shareholders will own
approximately 85.5 percent of the issued and outstanding shares of the
combined enterprise.
Upon completion of the merger, Stylex will change its name to Cytation.com
Inc.
"We believe this merger will provide Cytation with the capital growth
formation potential and valuation required to aggressively compete in the
rapidly growing market for Internet training and related services," said Kevin
High, Cytation's president. High added that "Cytation's Web-based training
delivery services will enable organizations to deploy and manage online
learning solutions efficiently and cost-effectively. Corporate trainers are
just beginning to realize the tremendous cost-savings that can be achieved by
putting employees in front of computers instead of on airplanes."
Cytation is a provider of Internet training and related services and competes
in the $85 billion a year corporate training market. The company's principal
service is Roll Call(tm), a proprietary online, browser-based, enterprise-wide
training management operating system that enables students to enroll and take,
training managers to administer, and instructors to teach -- courses over the
Internet or on intranets.
Forward-looking statements in this release concerning trends or anticipated
operating results are made pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. These forward-looking
statements are not guarantees of future performance and are subject to risks
and uncertainties related to the company's operations. These risks and
uncertainties include, but are not limited to, competitive factors (including
the possibility of increased competition or technological development,
competitors and price pressures); legal factors (such as limited protection of
the company's proprietary technology and changes in government regulation);
and the company's dependence on key personnel and significant customers.
CONTACT: Cytation
Kevin High, President
401/845-8800
khigh@cytation.com
www.cytation.com
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 hereunto duly authorized.
STYLEX HOMES, INC.
/s/ Jerry Cole
DATE: January 29, 1999 By: JERRY COLE
Name: Jerry Cole
Title: President and Secretary