SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K/A
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
June 30, 2000
Sporting Magic, Inc.
(Exact name of issuer as specified in its charter)
Delaware
(State or other jurisdiction of incorporation)
0-25247 95-4675095
(Commission File Number) IRS Employer Identification No.)
17337 Ventura Boulevard, Suite 224, Encino, CA 91316
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (818) 784-0040
1
<PAGE>
Item 2. ACQUISITION OR DISPOSITION OF ASSETS
Under the terms of our acquisition of all of the shares of Soccer Magic
Inc., the acquisition was subject to rescission if we did not complete a private
placement of our common stock raising at least $2.7 million (the "Private
Placement") before 5:00 P.M. on June 30, 2000. To date we have not completed the
Private Placement. However, prior to the June 30 rescission deadline, the
parties to the acquisition entered into a waiver agreement which had the effect
of extending the rescission deadline until September 29, 2000. A copy of the
waiver agreement is filed herewith as an exhibit.
Item 7. FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits. The following exhibit is provided in accordance with the
provisions of Item 601 of Regulation S-B:
EXHIBIT NO. DOCUMENT DESCRIPTION
2.7 Form of Limited Waiver dated as of June 30, 2000, given by
Sporting Magic Inc. and by Buddy Young acting for the benefit of
Sporting Magic Inc. and acknowledged and agreed to by Soccer
Magic Inc. and Jack L. Chegwidden, a professional corporation, as
escrow agent.
2
<PAGE>
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.
SPORTING MAGIC, INC.
(Registrant)
By: /S/ MYRON GRUNBERG
____________________
Myron Grunberg
President
Dated: July 7, 2000
3
