APPLIED CAPITAL FUNDING INC
8-K, 1998-07-23
MORTGAGE BANKERS & LOAN CORRESPONDENTS
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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 20, 1998




                          Applied Capital Funding, Inc.
              ----------------------------------------------------
             (Exact name of Registrant as specified in its charter)


                                    Colorado
                  --------------------------------------------
                 (State or Other Jurisdiction of Incorporation)


   0-23171 - CIK:  0001045280                            84-1280679
   --------------------------                        ------------------
    (Commission File Number)                          (I.R.S. Employer
                                                     Identification No.)


4155 East Jewell Avenue, Suite 909, Denver, Colorado           80222
- --------------------------------------------------------------------------------
(Address of principal executive offices)                     (Zip code)


     Registrant's telephone number, including area code: (303) 691-6163 


                                      None
           -----------------------------------------------------------
          (former name of former address, if changed since last report)


<PAGE>

Item 5.  Other Events.

     A special meeting of the Shareholders of Applied Capital Funding, Inc. (the
"Company") was held at the offices of the Company on the 20th day of July, 1998,
at 10:00 a.m. The purposes of the meeting were to discuss  management's past and
current operations,  including  management's efforts at internet marketing,  and
management's  proposal to explore  business  opportunities  other than  internet
marketing of mortgages.

     The  Chairman  reviewed  the efforts  made to date to market the  Company's
services  on  the  internet.  Thereupon  the  Chairman  opened  the  meeting  to
discussion.

     A  resolution  was  passed  that the  Company  explore  revenue  generating
activities  including the possibility of reestablishing its Denver area mortgage
brokerage service  activities,  and that management  explore methods whereby the
shareholders' stock investment would be protected and enhanced.


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.


                                           APPLIED CAPITAL FUNDING, INC.
                                           (Registrant)


                                           By: /S/  David R. Reitsema
                                               --------------------------------
                                               David R. Reitsema, Secretary
                                           

Date:    July 20, 1998



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