UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 934
May 24, 2001
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Date of Report (Date of earliest event reported
SAFE TECHNOLOGIES INTERNATIONAL INC. (Formerly Safe Aid Products Incorporated)
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Exact name of registrant as specified in its charter)
Delaware 000-17746 22-2824492
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(State or other jurisdiction (Commission File (I.R.S. Employer
of incorporation or organization) Number) Identification Number)
2875 SOUTH OCEAN BLVD., SUITE 211
PALM BEACH, FLORIDA 334$4
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(Address of principal executive offices)
561-832-270
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Registrant's telephone number, including area code.
Item 5. Other Events and Regulation FD Disclosure.
SAFE TECHNOLOGIES ISSUES STATEMENT
REGARDING COMPANY'S MERGER PLANS
PALM BEACH, Fla., May 24, 2001/PRNewswire/ -- Safe Technologies International,
Inc. (OTC Bulletin Board: SFAD - news) issued a statement today.
Michael Posner, President, said, "Unusual shareholder interest in the initial
press release made by SFAD, dated May 1, 2001, about proposed merger candidate,
along with disclosure of SFAD's 10Q, dated May 15, 2001, has prompted many
questions from Shareholders."
Mr. Posner continued, "During the first quarter, Management decided to unlock,
previously untapped, undervalued assets of the Company by using inactive, wholly
owned subsidiaries to acquire minority interests in proven companies through
mergers and spin-offs. Our business focus of making Company acquisitions will
continue, and would develop concurrently, empowered by the increased value
brought to SFAD's Balance Sheet, with minority ownership positions of merger
transactions."
"In a typical merger scenario, one of SFAD's subsidiaries would acquire an
appropriate company by 'merger'. ('Appropriate company', being defined as a
private company with substantial revenues and a long and stable earnings
history, wanting to go public.) After the merger, the merger subsidiary would be
controlled and operated by the acquiring company's management and SFAD would
retain a minority interest in the merger subsidiary. When SFAD distributes a
portion of its shares in the acquired company to the SFAD shareholders and the
acquired company files a registration statement with the SEC, the acquired
company would become a public company."
"The merger/spin-off concept provides important benefits for SFAD and its
shareholders. Not only would the Company retain a minority interest in what SFAD
perceives to be a promising company, but also, a portion of the minority
interest would be distributed to the SFAD shareholders. SFAD Shareholders would
receive shares in the new public company, proportionate to the percentage of
shares that they own in SFAD. There is no dilution to shareholders' existing
SFAD stock positions. All in all, an increase in Shareholder value."
Mr. Posner concluded by saying, "Hopefully, this information provides a more
explicit explanation of what will happen in a merger scenario and what it would
mean for SFAD shareholders, when a deal is successfully concluded. Currently,
the Company is in talks with two potential merger candidates to accomplish these
goals."
Forward-Looking Statements: Except for the historical information contained
herein, this news release may contain forward looking statements pursuant to the
provisions of the Private Securities Litigation Reform Act of 1995, as amended,
that may involve risks and uncertainties, including relating to the possibility
that the merger might not occur, the availability of suitable financial
resources, the availability of management, unproven market for SFAD's products
and services, as well as other risks detailed from time to time in the
Company's SEC reports, including reports on Form 10QSB for the year ended
September 30, 2000.
SOURCE: Safe Technologies International, Inc.
CONTACT: Brad Tolley VP Investor Relations
TEL: 561-832-2700
EMAIL: investor.relations@safetechnologies.com
HTTP://www.safetechnologies.com
SIGNATURE
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.
Safe Technologies International, Inc.
By: /s/ Michael J. Posner
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Michael J. Posner, President
Date: May 24, 2001