FORM 8-K
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES ACT OF 1934
Date of Report (Date of earliest event reported): October 26, 1998
OASIS RESORTS INTERNATIONAL INC.
(Exact name of registrant as specified in its charter.)
Kansas
(State of incorporation or organization)
0-9476
(Commission File Number)
48-0680109
(I.R.S. Employee Identification No.)
915 N. Wells, Wendover, Nevada
(Address of principal executive offices)
89883
(Zip Code)
Registrant's telephone number, including area code: (702) 664-3484
FLEXWEIGHT CORPORATION
(Former name or former address, if changed since last report)
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Item 1. Changes in Control of Registrant
Upon reincorporation in Nevada (see Item 5 below) the Company
increased its authorized capital stock from Twenty Five Million (25,000,000)
shares of $0.10 par value common stock to Seventy Five Million (75,000,000)
shares of $0.001 par value common stock and Twenty Five Million (25,000,000)
shares of $0.001 par value preferred stock. Each share of Flexweight was
exchanged for One (1) share in the new corporation. Additionally (see Item 2
below), Flexweight issued Six Million Eight Hundred Seventeen Thousand Two
Hundred Forty Eight (6,817,248) shares of common stock, Six Million (6,000,000)
warrants representing the right to acquire Thirty Six Million (36,000,000)
additional shares of common stock and promissory notes with an aggregate face
value of $180 million to NuOasis International, Inc. in exchange for certain
assets in NuOasis International, Inc.
Item 2. Acquisition or Disposition of Assets
On October 19, 1998, Flexweight entered into an exchange
agreement with NuOasis International, Inc., a wholly owned subsidiary of NuOasis
Resorts, Inc., trading symbol NUOA. Flexweight acquired all of the equity
interest owned by NuOasis International Inc. in Cleopatra Gammarth, Limited
(which operates the casino Cleopatra Cap Gammarth), Cleopatra Hammamet Limited
(which operates the casino Cleopatra Hammamet Casino) and Cleopatra's World,
Inc. (which operates the Le Palace Hotel & Resorts at Cap Gammarth). All of the
properties are located in Tunisia.
NuOasis International received the following consideration
from Flexweight in exchange of its assets: Six Million Eight Hundred Seventeen
Thousand Two Hundred Forty Eight (6,817,248) shares of common stock, Six Million
(6,000,000) warrants representing the right to acquire Thirty Six Million
(36,000,000) additional shares of common stock and promissory notes with an
aggregate face value of $180 million.
Item 3. Bankruptcy or Receivership
N/A
Item 4. Changes in Registrant's Certifying Accountant
N/A
Item 5. Other Events
Effective October 19, 1998 the Company reincorporated in
Nevada and, in the process changed the name of the Company from Flexweight
Corporation to Oasis Resorts International, Inc. to better reflect its new
corporate direction.
Item 6. Resignation of Registrant's Directors
N/A
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Item 7. Financial Statements and Exhibits
Exhibit A: Asset Exchange Agreement between Flexweight Corporation and
NuOasis International Inc.
Item 8. Change in Registrant's Fiscal Year
N/A
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SIGNATURE
Pursuant to the requirements of the Securities and Exchange Act of
1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
FLEXWEIGHT CORPORATION
(Registrant)
Dated: October 26, 1998 By: /s/ Walter Sanders
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Walter Sanders,
Chairman of the Board
and President
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