0001045969-01-501111.txt : 20011008 0001045969-01-501111.hdr.sgml : 20011008 ACCESSION NUMBER: 0001045969-01-501111 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20010917 ITEM INFORMATION: Acquisition or disposition of assets ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20010917 FILER: COMPANY DATA: COMPANY CONFORMED NAME: GROW BIZ INTERNATIONAL INC CENTRAL INDEX KEY: 0000908315 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-MISCELLANEOUS RETAIL [5900] IRS NUMBER: 411622691 STATE OF INCORPORATION: MN FISCAL YEAR END: 1226 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-22012 FILM NUMBER: 1739081 BUSINESS ADDRESS: STREET 1: 2400 DAHLBERG DRIVE CITY: GOLDEN VALLEY STATE: MN ZIP: 55422-4837 BUSINESS PHONE: 6125208500 8-K 1 d8k.txt CURRENT REPORT ON FORM 8-K 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): September 17, 2001 Grow Biz International, Inc. (Exact Name of Registrant as Specified in Its Charter) Minnesota (State or Other Jurisdiction of Incorporation) 000-22012 41-1622691 (Commission File Number) (I.R.S. Employer Identification Number) 4200 Dahlberg Drive, Suite 100 Golden Valley, MN 55422-4837 (Address of Principal Executive Offices) (Zip Code) (612) 520-8500 (Registrant's Telephone Number, Including Area Code) Not Applicable (Former Name or Former Address, if Changed Since Last Report) Item 2. Acquisition or Disposition of Assets. On September 17, 2001, the Company announced in a press release that it activated its stock repurchase program. A copy of the press release is attached as Exhibit 99.1 of this Current Report on Form 8-K. Item 7. Financial Statements and Exhibits. (c) Exhibits: 99.1 Press Release dated September 17, 2001. 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. GROW BIZ INTERNATIONAL, INC Date: September 17, 2001 By /s/ Mark Hooley ---------------- Mark Hooley, Vice President and General Counsel EXHIBIT INDEX to September 17, 2001 Form 8-K Grow Biz International, Inc. Exhibit Number Exhibit Description 99.1 Press Release dated September 17, 2001. EX-99.1 3 dex991.txt PRESS RELEASE DATED SEPTEMBER 17, 2001 Exhibit 99.1 Contact: John L. Morgan 763-520-8500 FOR IMMEDIATE RELEASE GROW BIZ INTERNATIONAL, INC. ACTIVATES STOCK REPURCHASE PROGRAM Minneapolis, MN (September 17, 2001) -- Grow Biz International, Inc. announced today that it may repurchase shares of its stock as market conditions warrant under its existing stock repurchase program. Since November 1995, the Company's Board of Directors has authorized the repurchase of up to 3,000,000 shares of the Company's common stock. As of December 26, 1998, the Company had repurchased 2,560,828 shares of its stock. No shares have been repurchased since fiscal 1998. The Company will utilize cash on hand and positive cash flow generated from operations to make such purchases. Grow Biz International, Inc. develops franchises and operates value-oriented retail concepts for stores that buy, sell, trade and consign used and new merchandise. At June 30, 2001, the Company had 882 stores in operation and an additional 34 franchises awarded but not open. Of the stores in operation, there were 533 Play It Again Sports(R), 234 Once Upon A Child(R), 65 Music Go Round(R), 18 ReTool(R) and 32 Plato's Closet(R) stores.