SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1933
Date of Report: November 16, 1998
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Colonial Industries, Inc.
formerly Impact Energy, Inc.
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Texas 0-9562 84-0818655
(Incorporation) (Commission Number) (IRS Number)
2284 West Holcombe, Houston, Texas 77030
(Address of principal executive offices) (Zip Code)
Telephone number: (713) 526 8223
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Item 1. Change of Control of Registrant
An understanding has been reached between the Registrant (formerly Impact
Energy, Inc.) and Colonial Industries, Inc. wherein the Registrant has acquired
Colonial Industries, Inc. As a result of this transaction, the majority
shareholder of the Registrant, with 5,000,000 shares (76.84% of the issued and
outstanding shares) is ACX Industries, Inc. The officers, directors and sole
shareholders of ACX Industries, Inc. are Joseph Kane and Donald Jackson Wells,
both being officers of the Registrant. This transaction effected a change of
control of the Issuer, with no immediate change in Management. Complete and
detailed disclosure of ownership and other information about ACX Industries,
Inc. will be provided in the Issuer's next Annual Report on Form 10-KSB, to be
filed for year ending December 31, 1998.
Item 2. Acquisition or Disposition of Assets
An understanding has been reached between the Registrant (formerly Impact
Energy, Inc.) and Colonial Industries, Inc. wherein the Registrant has acquired
Colonial Industries, Inc. including all of its assets which consist of cash and
subscriptions receivable. At the date of this report, the assets of the acquiree
have not yet been audited. Audited statements will be provided in the Issuer's
next Annual Report on Form 10-KSB, to be filed for year ending December 31,
1998.
Item 3. Bankruptcy or Receivership
None.
<PAGE>
Item 4. Changes in Registrant's Certifying Accountant
None.
Item 5. Other Events
An understanding has been reached between the Registrant (formerly Impact
Energy, Inc.) and Colonial Industries, Inc. wherein the Registrant has acquired
Colonial Industries, Inc. and changed its name to Colonial Industries, Inc.
Item 6. Changes of Registrant's Directors
None.
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, this
report has been signed below by the following persons on behalf of the
Registrant and in the capacities and on the date indicated.
November 16, 1998
Colonial Industries, Inc.
formerly Impact Energy, Inc.
by
/s/ Stephen P. Trippel
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Stephen P. Trippel
SPECIAL COUNSEL
