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 1934
Date of Report (Date of earliest event reported) February 13, 2004
SAFE TECHNOLOGIES INTERNATIONAL INC.
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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 S. Ocean Blvd., Suite 104, Palm Beach, FL 33480
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code 561-832-2700
125 Worth Avenue, Suite 113, Palm Beach, FL 33480
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Former Address
Item 2. Acquisition of Assets
We have closed our acquisition of 60% of Time Bytes Limited and of its two
affiliates, Time Bytes International, Inc., and Sports Profiles Ltd. The
purchase price for our 60% interest in these companies was 17,000,000 shares of
our common stock. The Stock Purchase Agreement for this transaction is attached
as an Exhibit, as well as audited financial statements for Time Bytes Limited
for its fiscal years ended October 31, 2001 and 2002, and other exhibits to the
Stock Purchase Agreement. Audited financial statements for Time Bytes Limited
for the fiscal year ended October 31, 2003 will be filed within 60 days.
Item 7. Exhibits
10.1 Stock Purchase Agreement dated December 30, 2003, between Safe
Technologies International, Inc. and Nevern Johns.
Purchase Price Agreement (Schedule 1 to the Stock Purchase
Agreement)
Audited Financial Statements of Time Bytes Limited (Schedule
1a to the Stock Purchase Agreement)
Companies' Litigation Affidavit (Schedule 1(b) to the Stock
Purchase Agreement)
Stock Incentive Plan (Schedule 1c to the Stock Purchase
Agreement)
10.2 Employment Agreement between Time Bytes LTD, Sports Profile LTD, (UK
companies) and Time Bytes International, Inc., a Delaware corporation
and Nevern Johns dated January 31, 2004.
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: February 16, 2004
Exhibit Index
No. Description
10.1 Stock Purchase Agreement dated December 30, 2003, between Safe
Technologies International, Inc. and Nevern Johns.
10.2 Employment Agreement between Time Bytes LTD, Sports Profile LTD, (UK
companies) and Time Bytes International, Inc., a Delaware corporation
and Nevern Johns dated January 31, 2004.