UNITED STATES SECURITIES
AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
CURRENT REPORT
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-
16 UNDER THE SECURITIES EXCHANGE ACT OF 1934
FOR OCTOBER 10, 2002
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SHEP TECHNOLOGIES INC.
(FORMERLY INSIDE HOLDINGS INC.)
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(Translation of registrant's name into English)
Suite 880, 609 Granville Street, Vancouver, B.C., Canada
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(Address of principal executive offices)
[Indicate by check mark whether the registrant files or will file annual
reports under cover Form 20-F or Form 40-F.]
Form 20-F X Form 40-F
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[Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of
1934.]
Yes No X
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If "Yes" is marked, indicate below the file number assigned to the registrant
in connection with Rule 12g3-2(b):
SHEP Technologies Inc. will be holding an Extraordinary General Meeting
of the Shareholders for November 22, 2002 approving a corporate resolution
authorizing the Company to subdivide its shares on a two common shares for
one basis. Additionally, shareholders will be asked to approve the creation
of an incentive option plan.
Copy of the News Release as filed with the Yukon Territories and BC Securities
Commission is attached hereto and filed as Exhibit 99.1 to this filing on Form
6-K.
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, thereunto duly authorized.
SHEP TECHNOLOIGES INC.
By: "Malcolm P. Burke"
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Name: Malcolm P. Burke
Title: President and CEO
Date: October 10, 2002
<page>
Exhibit 99.1
News Release
October 10, 2002
SHEP TECHNOLOGIES INC. PLANS TWO FOR ONE SHARE SPLIT AND OPTION PLAN
OCTOBER 10, 2002 - SHEP TECHNOLOGIES INC. (OTCBB: STLOF) (the "Company")
announced today the scheduling of an Extraordinary General Meeting of the
Shareholders for November 22, 2002 at which time shareholders will be asked to
approve a corporate resolution authorizing the Company to subdivide its shares
on a two common shares for one basis. If approved, each shareholder of record
will receive an additional share for each share owned.
Additionally, shareholders will be asked to approve the creation of an incentive
option plan. The Company will establish a pool of 2,200,000 share purchase
options (pre-split) for allocation to selected directors, employees and
consultants. These options will be for a term of up to six years with the
exercise price to be based on market pricing.
About SHEP Technologies Inc.
SHEP Technologies Inc. recently acquired SHEP Limited, a corporation based in
the Isle of Man with operations in Taunton, England and in the United States.
SHEP Limited has designed and developed proprietary energy technology for
application in the global automotive sector.
The SHEP Technology System, using electronics and proprietary hydraulic pump
motors, captures otherwise lost kinetic energy generated during vehicle braking,
and utilizes this energy for vehicle acceleration during the inefficient low-
speed acceleration phase. Under a controlled test environment over the last 18
months at one of the world's largest automotive manufactures, significant fuel
savings, together with reduced engine and brake wear and tear were realized.
The system is intended to be equally applicable to delivery, service and
passenger vehicles of all sizes and variety. Optimal use of SHEP technology is
anticipated in high density urban traffic environment where acceleration and
braking cycles are frequent - accordingly buses, trucks, taxis and subway
systems could be ideal applications.
The Company anticipates licensing its "Stored Hydraulic Energy Propulsion"
(SHEP) to automotive manufacturers and their Tier One suppliers. Hydraulic
propulsion is being embraced by Original Equipment Manufacturers ("OEMs") in
the automotive industry. In particular, SHEP components are incorporated as an
integral part of one of North America's major auto producer's hydraulic launch
assist equipped development vehicles, which passed formal proof of concept in
December 2000 and is currently undergoing 'Implementation Ready' testing.
ON BEHALF OF THE BOARD OF DIRECTORS
"Malcolm P. Burke"
Malcolm P. Burke
President and Chief Executive Officer
Statements about the Company's future expectations, including future revenues
and earnings, and all other statements in this press release other than
historical facts, are "forward-looking statements" within the meaning of Section
27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of
1934, and as that term is defined in the Private Securities Litigation Reform
Act of 1995. The Company in tends that such forward-looking statements be
subject to the safe harbors created thereby. Since these statements involve
risks and uncertainties and are subject to change at any time, the Company's
actual results could differ materially from expected results.
For further information, please contact:
Malcolm P. Burke
Tel: 604-689-1515
website: www.shepinc.com