SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
Current Report on Form 8-K Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
Date of Report: June 24, 1999 Commission File: 0-9416
WCM CAPITAL, INC.
(Formerly FRANKLIN CONSOLIDATED MINING CO., INC.)
(Exact Name of Registrant as specified in its charter)
Delaware 13-2879202
(State or other Jurisdiction of (IRS Employer Identification No.)
Incorporation or Organization)
76 Beaver Street, New York, New York 10005
(Address of Principal Executive Offices)
Registrants Telephone Number
Including area code: (212) 344-2828
<PAGE>
Item 5. - Other Events
Resignation of Director: On May 27, 1999, Ronald Ginsberg resigned his
position as Director effective on that date. The Board of Directors of the
Company accepted the resignation.
Item 7. Financial Statements and Exhibits
Financial Statements
None
Exhibits
Press Release dated June 21, 1999
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.
WCM CAPITAL, INC.
/s/ Robert Waligunda
---------------------------
Dated: June 24, 1999 Robert Waligunda, President
N.Y. 212-344-2828 FAX 212-344-4537
WCM CAPITAL, INC.
76 Beaver Street - Ste. 500
FOR IMMEDIATE RELEASE
New York, New York/Idaho Springs, Colorado - June 21, 1999 - WCM CAPITAL,
INC. (NASDAQ symbol WCMC). WCMC announced today that it has entered into a
letter of intent to purchase substantially all of the assets of U.S. Mining,
Inc. in exchange for approximately 69% of the Company. U.S. Mining is a New
Jersey Company owned and controlled by Mr. William Martucci, a director of the
Company, which holds contracts to acquire certain mineral rights relating to the
Franklin Mining properties. The letter of intent further contemplates the
forgiveness of approximately $1,500,000 in debt currently owed by the Company to
U.S. Mining, which U.S. Mining has advanced to the Company to finance its
operations to date. The asset purchase by the Company is conditional upon, among
other things, the execution of definitive documents, and the approval by the
Company's shareholders.
The Company also announced the resignation of Mr. Ronald Ginsberg from the
Board of Directors of the Company, which became effective May 27, 1999.
CONTACT: Robert Waligunda, Pres. (212) - 344-2828
Statements in this press release, other than statements of historical
information, are forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Investors are cautioned that
forward-looking statements are inherently uncertain. Actual performance and
results may differ materially from that projected or suggested due to certain
risks and uncertainties including, without limitation, risks associated with
mining and milling operations, the availability of debt and equity capital on a
reasonable terms and the effects of government regulations and operations risks.
Additional information concerning certain risks and uncertainties that could
cause actual, results to differ materially from that projected or suggested is
contained in the Company's filings with the Securities and Exchange Commission
(SEC) over the past 12 months, copies of which are available from the SEC or may
be obtained upon request from the Company. The forward-looking statements
contained herein represent the Company's judgement as of the date of this
release, and the Company cautions readers not to place undue reliance on such
statements.
