Report of unscheduled material events or corporate changes.
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 8-K CURENT REPORT Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) February 16, 2001 Frontline Communications Corporation (Exact name of registrant as specified in its chapter) Delaware 001-15673 13-13950283 (State or other jurisdiction (Commission (IRS Employer of incorporation File Number) Identification No.) One Blue Hill Plaza, 7th Floor Pearl River, New York 10965 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code (845) 623-8553 ---------------------------------------------------------- (Former name or former address, if changed since last report)
Item 5. Other Information. See attached press release dated February 23, 2001, filed as Exhibit 99.1 to this Form 8-K, which is incorporated herein by reference, for a description of Frontline Communication Corp.'s sale on February 16, 2001 of a 75% equity interest in its subsidiary, iShop Networks, Inc.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits. (a)-(b) Not Applicable (c) Exhibits. 99.1 Frontline Communications Corp.'s Press Release Dated February 23, 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 thereunto duly authorized. FRONTLINE COMMUNICATIONS CORPORATION By: /s/ Stephen Cole-Hatchard Stephen Cole-Hatchard Chief Executive Officer (Duly authorized officer) Date: February 23, 2001
FOR IMMEDIATE RELEASE Frontline Communications Corp. One Blue Hill Plaza PO Box 1548 Pearl River, New York 10965 CONTACT: Rick Byrne Investor Relations Phone: (845) 623-8553 X1180 Phone: (845) 623-8553 X1108 Fax: (845) 623-8669 Fax: (845) 623-8669 Rbyrne@fcc.net email@example.com FRONTLINE COMMUNICATIONS SELLS EQUITY INTEREST IN SUBSIDIARY Pearl River, New York - February 23, 2001- Frontline Communications Corp. (AMEX: FNT; NASDAQ: FCCNW), www.frontline.net, announced today that on February 16, 2001, the Company sold 75% of its equity interest in its subsidiary, iShop Networks Inc., to Brett Holmes. The Company had previously purchased iShop from Mr. Holmes in May 1999 for 9,232 shares of Frontline Common stock and $25,000 in cash. The Company sold back 75% of its interest in iShop to Mr. Holmes in return for a release of approximately $120,000 in contractual obligations. Frontline retained a 25% equity interest in iShop and was granted certain anti-dilution and registration rights with respect to shares it retained. About Frontline Founded in 1995, Frontline Communications Corporation provides high-quality Internet access and Web hosting services to homes and businesses nationwide. Frontline offers Ecommerce, programming,
and Web development services through its PlanetMedia group, www.pnetmedia.com. Frontline is headquartered in Pearl River, New York, and is traded on the American Stock Exchange. The statements which are not historical facts contained in this press release are forward looking statements that involve certain known and unknown risks and uncertainties, including but not limited to, changes in the market for Internet services, regulatory and technological changes, economic factors, increased competition, and the nature of supplier of customer arrangements which become available to the Company in the future.
Frontline Communications Corp. Page 2 The Company's actual results may differ materially from the results discussed in or implied by any forward-looking statement. The words "intend," "expect," "should," "project," and "anticipate," and similar expressions identify forward looking statements. Readers are cautioned not to place undue reliance on these forward looking statements which speak only as of the date they were made. ###