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 19, 2002
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HEALTH & NUTRITION SYSTEMS INTERNATIONAL, INC.
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(Exact name of registrant as specified in its charter)
FLORIDA
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(State or other jurisdiction of incorporation)
0-29245 65-0452156
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(Commission File Number) (IRS Employer Identification No.)
3750 Investment Lane, Suite 5, West Palm Beach, Florida 33407
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(Address of principal executive offices, including Zip Code)
Registrant's telephone number, including area code (561) 863-8446
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N/A
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(Former name or former address, if changed since last report)
ITEM 5. OTHER EVENTS
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See Exhibit 99.1 attached hereto and incorporated herein by reference.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
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(c) Exhibits:
99.1 Press Release dated October 16, 2002.
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.
HEALTH & NUTRITION SYSTEMS
INTERNATIONAL, INC.
By: /s/Christopher Tisi
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Christopher Tisi, Interim Chairman
of the Board, Chief Executive Officer
and President
Dated: October 24, 2002
EXHIBIT 99.1
[GRAPHIC OMITTED]
For more information, contact:
At the Company:
Investor Relations Media Inquiries:
Mona Lalla Christopher Tisi
Director of Operations President/CEO
PH. (561) -863-8446 PH# (561) 863-8446
HEALTH & NUTRITION SYSTEMS INTERNATIONAL INC.
FOR IMMEDIATE RELEASE:
WEST PALM BEACH, FL, OCTOBER 16, 2002, - Health & Nutrition Systems
International, Inc. (OTCBB: HNNS) ("HNS") announced the settlement of all
litigation between HNS and J.C. Herbert Bryant, III ("Bryant") and KMS-Thin Tab
100, Inc. ("KMS"). HNS had sued KMS and Bryant in the United States District
Court for the Southern District of Florida for, among other things, trademark
infringement, unfair competition and cyberpiracy under the Anti-Cybersquatting
Consumer Protection Act of 1999. KMS had sued HNS and three of its officers and
directors, Christopher Tisi, Anthony Musso (Mr. Musso has subsequently resigned
as Director) and Steven Pomerantz in state court alleging, among other things,
breach of a distribution agreement.
The settlement agreement generally requires Bryant and KMS to transfer the
registration and ownership of the domain names Thintab.com, Thintab.cc and
Carbcutter.cc to HNS and to take other action to eliminate confusion over the
ownership of the ThinTab(R) name. Additionally, it provides for each of the
adverse parties to generally release the others.
As part of the settlement, HNS entered into a distribution agreement with
Bryant, beginning on September 26, 2002 and ending on September 25, 2007,
permitting Bryant to purchase certain of its products from HNS and to
exclusively distribute those products in Florida from Orlando south. HNS also
has agreed not sell its products directly to certain KMS customers.
ABOUT HEALTH & NUTRITION SYSTEMS INTERNATIONAL INC.
HNS develops and markets weight management products in over 25,000 health, food
and drug store locations. The Company's products can be found in CVS, GNC,
Eckerd's, Rite Aid, Target, Vitamin Shoppe, Vitamin World and Walgreens, as well
as independent health food stores, gyms and pharmacies through its division HNS
Direct.
This news release contains forward-looking statements, as that term is defined
in the Private Securities Litigation Reform Act of 1995 and is subject to the
safe harbor created by that act. These forward-looking statements concern the
Company's operations, economic performance and financial condition and are based
largely on the Company's beliefs and expectations. These statements involve
known and unknown risks, uncertainties and other factors that may cause actual
results to be materially different from any future results expressed or implied
by such forward-looking statements. Such factors and risks include, among
others, the factors described in the Company's filing with the Securities and
Exchange Commission, the recent terrorist attacks on the United States, possible
responses by the U.S. government, general economic conditions, consumer
confidence and changes in consumer preference, introduction of products that
compete with the Company's products, and the availability and deployment of
capital. Finally, recent government action and the surrounding publicity
regarding ephedra-containing products may make it difficult for us to obtain and
maintain product liability insurance for our products containing ephedra at
current premiums. Certain of these factors and risks, as well as other risks and
uncertainties are stated in more detail in the Company's annual report on Form
10-KSB. These forward-looking statements are made as of the date of this press
release, and the Company assumes no obligation to update the forward-looking
statements or to update the reasons why the actual results could differ from
those projected in the forward- looking statements.