ASSET SERVICING CORP
8-K, 2000-05-26
MISCELLANEOUS BUSINESS CREDIT INSTITUTION
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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


                                  May 25, 2000
               --------------------------------------------------
               (Date of Report) (Date of earliest event reported)

                           ASSET SERVICING CORPORATION
             ------------------------------------------------------
             (Exact name of registrant as specified in its charter)

         Nevada                 333-80429                       75-2823489
- ----------------------------   -----------                 -------------------
(State or other jurisdiction   (Commission                    (IRS Employer
  of incorporation)            File Number)                 Identification No.)


           709-B West Rusk, Suite 580, Rockwall, Texas              75087
   ---------------------------------------------------------       ----------
              (Address of principal executive offices)             (Zip Code)


        Registrant's telephone number, including area code:      (214) 212-2307
   ---------------------------------------------------------     --------------

                                       N/A
          -------------------------------------------------------------
          (Former name or former address, if changed since last report)






<PAGE>


Item 5. Other Events

     On May 19,  2000,  the  registrant  closed  its SB-1  offering  which  went
effective  on January 24,  2000,  having sold 97,000  shares at $1.00 per share,
bringing the total outstanding shares to 297,000.

                                   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.

Date: May 25, 2000                        ASSET SERVICING CORPORATION

                                          By: /s/ Charles Smith
                                          ---------------------------
                                                  Charles Smith
                                                  President




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