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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): July 16, 1997
T.J.T., INC.
(Exact name of registrant as specified in its charter)
WASHINGTON 33-98404 82-0333246
(State or other jurisdiction of (Commission File (IRS Employer
incorporation or organization) Number) Identification No.)
843 NORTH WASHINGTON, P.O. BOX 278, EMMETT, IDAHO 83617
(Address of principal executive offices)
(208) 365-5321
(Issuer's telephone number)
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ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS
Acquisition of Leg-it Tire Company, Inc.:
On July 16, 1997, T.J.T., Inc. (the Company) received notification from the
State of California that the articles of merger to complete the acquisition of
Leg-it Tire Company, Inc. (Leg-it) had been accepted. Leg-it is an axle and
tire recycler formerly headquartered in Woodland, California. Pursuant to the
merger agreement, the Company was the surviving corporation. As consideration
for the merger, the Company issued 291,176 restricted shares of its Common Stock
and paid $412,500 to the shareholder of Leg-it, Ulysses S. Mori. The source of
funds for this acquisition was the registrant's initial public offering
completed in January 1996. The Company plans to continue operating Leg-it as an
axle and tire recycling operation and to account for this transaction as a
purchase. Leg-it had revenues of approximately $5 million for the year ended
June 30, 1997. At June 30, 1997 Leg-it had total assets of approximately $.9
million consisting primarily of inventory, accounts receivable and fixed assets,
and total equity of $.4 million.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
Audited financial statements for Leg-it have not been prepared on an annual
basis and are not readily available. Based on pro forma financial information,
as permitted by the Securities and Exchange Commission, which includes the
November 1996 acquisition of Bradley Enterprises, Inc., the results of
operations and the financial position of Leg-it do not meet the requirement for
pro forma financial statement disclosure.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.
T.J.T., INC.
Registrant
Date: July 30, 1997 By: /s/ Scott Beechie
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Scott Beechie, Vice President and
Chief Financial Officer
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