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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) May 1, 2000
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DISCOVERY INVESTMENTS, INC.
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(Exact Name of Registrant as Specified in Its Charter)
Nevada
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(State or Other Jurisdiction of Incorporation)
000-26175 88-049151
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(Commission File Number) (IRS Employer Identification No.)
23805 Stuart Ranch Road, #220, Malibu, California 90265
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(Address of Principal Executive Offices) (Zip Code)
(310) 456-8494
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(Registrant's Telephone Number, Including Area Code)
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(Former Name or Former Address, if Changed Since Last Report)
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Item 5. Other Events
Discovery Investments, Inc. (the "Company") expects to report sharply lower
revenue and a significantly greater loss for the first quarter of 2000. This is
primarily the result of the dramatic increase in the wholesale price for
petroleum during the first quarter, which created liquidity problems for the
Company as its line of credit and working capital were exhausted. As a result
of its inability to obtain petroleum product, the Company pumped significantly
less gas at its facilities during March than during January and February, a
decline which accelerated during the second quarter. Since May 1, 2000, the
Company has not been pumping gas at any of its facilities. As a result of the
liquidity problem, inventory at the Company's am/pm(R) mini markets also
declined, resulting in decreased sales at the mini markets during the same
period.
The Company is actively exploring ways to improve its liquidity situation,
including discussions which could result in third party financings. However,
there are no definitive agreements in place at this time with any such financing
sources and there can be no assurance that any such agreements will be entered
into or entered into on terms that are favorable to the Company.
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.
DISCOVERY INVESTMENTS, INC.
Date: May 23, 2000 By: /s/ John D. Castellucci
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President and Chief Executive Officer
