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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): January 29, 1999
STRIKER INDUSTRIES, INC.
Delaware Commission File No. 0-10096 IRS Employer ID No. 84-0834953
One Riverway, Suite 2450, Houston, Texas 77056
Registrant's telephone number, including area code: (713) 622-4092
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Item 1. Change in Control of Registrant.
On or about January 29, 1999, an affiliate of the Registrant, David A.
Collins, a Director, its Chief Executive Officer and a more than 10% owner of
its then outstanding Common Stock, without receipt of consideration or other
form of remuneration of any kind, transferred record and beneficial ownership
of 496,193 restricted shares of Common Stock of the Registrant, constituting
approximately 11.4% of Registrant's issued and outstanding Common Stock on such
date, as restricted securities subject to Rule 144 limitations and restrictions
on transfer, to two non-U.S. person corporations believed by the Registrant to
be existing shareholders of the Registrant, namely Rigel Investments Corp.
(297,715 shares) and Privat Kredit Bank (198,478 shares), in a transaction
which may constitute a change in control of Registrant. Registrant does not
know the respective percentage ownership of its voting securities now owned
beneficially, directly or indirectly, by the transferees of Mr. Collins'
shares.
In addition, an aggregate of 604,382 additional restricted shares of
Common Stock of the Registrant were issued at or shortly after the end of
January 1999 to (i) holders of promissory notes of the Registrant dated
December 29, 1997 and maturing December 31, 2005 in capitalization of, exchange
for, satisfaction and cancellation of $2,550,007 in aggregate amount of
principal and accrued interest owing thereon (170,007 shares), and (ii) holders
of promissory notes of wholly-owned subsidiaries of the Registrant aggregating
$10,650,000 in principal amount, bearing various dates of issuance and all
maturing December 31, 2005, guaranteed as to payment by Registrant, in
cancellation, full payment and satisfaction of all present accrued interest,
as well as cancellation of all obligation for future payment of interest, on
the guaranteed notes of the subsidiaries (434,375 shares).
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.
STRIKER INDUSTRIES, INC.
DATE: February 12, 1999. By: /s/ David A. Collins
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David A. Collins
Chief Executive Officer
