CURRENT REPORT FOR ISSUERS SUBJECT
TO THE 1934 ACT REPORTING REQUIREMENTS
FORM 8-K
SECURITIES & EXCHANGE COMMISSION
Washington, D.C. 20549
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report: March 1, 2000
FOCUS ENTERTAINMENT INTERNATIONAL, INC.
(Exact name of registrant as specified in its charter)
Florida 58-2330633
(State or other (IRS Employer
jurisdiction of incorporation) Identification No.)
505 Peachtree Street, Atlanta Georgia 30308
(Address of principal executive office) (Zip code)
Registrant's phone number, including area code 404-253-1112
Not Applicable
-----------------------------------------------------------
Former name or former address, if changed since last report
ITEM 1. CHANGES IN CONTROL OF REGISTRANT.
Not Applicable.
ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS.
(a) On March 1, 2000, Myrtle Beach Visuals, LLC, a wholly owned subsidiary
of Focus Entertainment International, Inc. (the "Company"), completed the
acquisition of certain assets from Stormy Bear, LLC (a Nevada Limited
Liability Company) relating to a business venture known as "Cupid's Arrow-
The Love Store" located at 1434-1474 Highway 501 West, Myrtle Beach, Horry
County, South Carolina. The assets consisted of all fixtures, equipment,
signage, advertising, leasehold improvements, computers, software,
goodwill, etc. used in the operation of the business venture.
As part of the acquisition, the Company entered into two new building
leases on two separate properties located at 1434-1450 Highway 501 West,
Myrtle Beach, South Carolina, and 1474 Highway 501 West, Myrtle Beach,
South Carolina to Buyer. The terms of the leases are for ten years each
commencing March 1, 2000. Combined monthly rental will be $3,977.00 with
2% increases annually.
The total purchase price of the assets purchased was $518,508.91, which
amount was paid by $150,000 in cash and the balance by a promissory note
for $368,509. The note bears interest at 8% per annum is payable by
twenty-four equal monthly payments of $16,667 beginning on April 1, 2000.
The note was personally guaranteed by Michael S. Morrison, President of the
Company.
The terms of the Purchase Agreement were the result of arm's length
negotiations among the parties, as none of the officers or directors of the
Company owned an interest in Stormy Bear, LLC at the time of the purchase.
Prior to the execution of the Purchase Agreement, the Company owned a 15%
interest in the purchased assets which it had acquired in 1999.
(b) Stormy Bear, LLC used the purchased assets in its adult entertainment
store "Cupid's Arrow - The Love Store." The Company currently intends to
continue use of the assets for an adult fantasy store using the name
"Cupid's Arrow - The Love Store."
ITEM 3. BANKRUPTCY OR RECEIVERSHIP.
Not Applicable.
ITEM 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANTS.
Not Applicable.
ITEM 5. OTHER EVENTS.
Not Applicable.
ITEM 6. RESIGNATIONS OF REGISTRANT'S DIRECTORS.
Not Applicable.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(a) Financial statements of businesses acquired: Not Applicable.
(b) Pro forma financial information: Not Applicable.
(c) Exhibits: None.
ITEM 8. CHANGE IN FISCAL YEAR.
Not Applicable.
ITEM 9. SALES OF EQUITY SECURITIES PURSUANT TO REGULATION S.
Not Applicable.
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.
FOCUS ENTERTAINMENT INTERNATIONAL, INC.
Date: March 15, 2000 By:/s/ Michael Morrison
----------------------------------
Name: Michael Morrison
----------------------------------
Title: President and Chief
Executive Officer