SECURITIES AND TRANSFER COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Transfer Act of 1934
Date of Report (Date of earliest event reported): February 12, 1998
OILEX, INC.
(Exact name of registrant as specified in its charter)
Commission File Number: 0-28686
Nevada 33-01944489
(State or other jurisdiction (IRS Employer
of incorporation or organization) identification No.)
3050 Post Oak Boulevard, Suite 1760
Houston, Texas 77056
(Address of principal executive offices)
(713) 629-5998
Registrant's telephone number<PAGE>
ITEM 9. Sales of Equity Securities Pursuant to Regulation S.
On February 12, 1998, the Company issued 42,500 warrants to acquire
common stock (post-reverse) in the Company at an exercise or purchase
price of $0.75 per share for 5,900 shares (post-reverse); $0.77 per
share for 15,000 shares (post-reverse); $0.79 per share for 10,000
shares (post-reverse); $1.15 per share for 11,600 shares (post-reverse),
which right of purchase will expire, if not exercised, on February 28,
2001. These rights were issued in recognition of services rendered to
the Company.
SIGNATURES
Pursuant to the requirements of the Securities Transfer Act of
1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned hereunto duly authorized.
Dated: February 24, 1998
OILEX, INC.
/s/ Oliver Timmins, III
Oliver Timmins III
President
