UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Act of 1934
Date of Event Requiring Report: October 19, 1998
NUGGET EXPLORATION, INC.
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(Exact Name of Registrant as Specified in its Charter)
0-10201 83-0250943
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(Commission File Number) (IRS Employer Identification Number)
NEVADA
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(State or Other Jurisdiction of Incorporation or Organization)
815 SOUTH DURBIN STREET, CASPER, WYOMING 82601
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(Address of Principal Executive Offices)
(307) 234-2895
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(Registrant's Telephone Number, Including Area Code)
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(Former Name or Former Address, if changed since last report)
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Item 5. Other Events
On October 21, 1998, the NASDAQ stock permitted trading of the company's
shares on the basis of the reverse split of the Company's outstanding common
stock in the amount of 1-for-310 and a reduction in the Company's class of
authorized common stock to 5,000,000 shares. The par value remains at $0.01.
The Company's Board of Directors approved the reverse split on October 7, 1998
by consent to action without a meeting of the board of directors pursuant to
the Nevada Revised Statutes 78.315 and 78.325. Pursuant to Nevada Revised
Statutes 78.207, an action involving a change in the number of authorized or
outstanding shares of a Corporation can be accomplished by approval of the
board of directors without a need for stockholder approval.
Effective October 19,1998, each 310 shares held by the Company's shareholders
were converted into one share. All fractional shares were rounded to the
nearest whole number. The board of directors authorized the stock split
because they believed that the number of issued and outstanding shares of
common stock was disproportionately large given the Corporation's absence of
revenue, net income and net worth. Immediately after the reverse split, the
Company will have approximately 97,177 total shares of its $0.01 common stock
issued and outstanding.
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.
Dated: 10/27/98 NUGGET EXPLORATION, INC.
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Mary MacGuire
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By: Mary MacGuire, Acting President
