UNITED STATES
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
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DATE OF REPORT: August 11, 2000
Commission File Number: 0-22299
SAXTON INCORPORATED
(Exact name of registrant as specified in its charter)
NEVADA 88-0223654
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
5440 West Sahara Ave., Third Floor
Las Vegas, Nevada 89146
(702) 221-1111
(Address and telephone number of principal executive offices)
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ITEM 5. OTHER EVENTS
On June 15, 2000, the Registrant, through its wholly owned subsidiary,
Diamond Key Homes, completed the sale of the remaining lots in four residential
subdivisions that comprise the Tucson division of Diamond Key Homes for
$7,940,000 to Nevada Diversified Equity, LLC, doing business as Monterey Homes.
On August 3, 2000, the Registrant sold all of the fixed assets of its
wholly owned subsidiary, Homebanc Mortgage Corporation, to Affordable Housing
Acceptance LLC, dba The Platinum Investment Group for $12,000.
Effective June 30, 2000, Bernard J. Mikell, Jr. and Robert L. Seale
resigned as Directors of the Company, for personal reasons. There were no
disagreements with the registrant on any matters relating to the registrant's
operations, policies or practices.
SIGNATURE
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.
Date: August 11, 2000 SAXTON INCORPORATED
(Registrant)
By: /s/ James C. Saxton
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James C. Saxton
Chairman of the Board, President and
Chief Executive Officer
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