UNITED STATES
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
June 30, 2000
Date of Report (Date of earliest event reported)
Golden Triangle Industries, Inc.
(Exact name of registrant as specified in its charter)
0-8301
(Commission File No.)
Colorado 25-302097
State or other jurisdiction (IRS Employer
of incorporation) Id. No.)
259 Plaza Drive, Suite D, Oviedo, FL 32765
Address of principal executive offices (Zip code)
Registrant's telephone number, including area code (407) 366-9668;
fax (407) 366-9688
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ITEM 1: CHANGES IN CONTROL OF REGISTRANT
On June 30, 2000, the Board of Directors approved a contract dated June
20, 2000 between the Company and Larry White. This contract, described
more fully below, called for the issuance of 4,200,000 common shares to
Larry White. These shares, when combined with shares Mr. White received
in the acquisition of Whitemark Homes, Inc. gives him approximately 60%
of the outstanding shares of the Company.
ITEM 2: ACQUISITION OR DISPOSITION OF ASSETS
On June 30, 2000, the Board of Directors approved a contract dated June
20, 2000 between the Company and Larry White. This contract called for
Mr. White to arrange to transfer various development properties to the
Company. These properties are largely undeveloped tracts which the
Company plans to developed or to exchange for other developable
properties as operations dictate. The Company issued 4,500,000 shares
to Mr. White and his partners/co-owners in exchange for these
properties, which were either owned by Mr. White outright or through
entities controlled by him. Due the fact that Mr. White has retained a
significant interest in these properties because of his ownership
interest in the Company, these properties have been recorded on the
books of the Company at Mr. White's cost basis of $400,000.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
Exhibit A. Contract for Sale.
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.
GOLDEN TRIANGLE INDUSTRIES, INC.
November 29, 2000 /s/ Robert B. Early
Robert B. Early
Chief Financial Officer
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EXHIBIT A
CONTRACT FOR SALE
AGREEMENT made by and between Larry White, President and Chairman of the
Board of Directors of Golden Triangle Industries, Inc. and the Board of
Directors of Golden Triangle Industries, Inc. on June 20, 2000.
For good consideration, it is agreed between the parties that Larry White
will sell to Golden Triangle Industries, Inc. certain projects, contracts,
and options held individually or held by corporations controlled by Larry
White other than Whitemark Homes, Inc., a wholly owned subsidiary of Golden
Triangle Industries, Inc. in exchange for restricted common stock of Golden
Triangle Industries, Inc.. The projects are listed on the attached schedule
and will be made a part of the Board resolution. The restricted common
shares shall be issued to Larry White (2,100,000) and Bill Rigsby (150,000).
The issuance of these shares will make Larry White the largest stockholder
with voting control.
Previously, Larry White had been issued 533,760 restricted common shares for
all of his common stock in Whitemark Homes, Inc. At that time, Larry White
replaced Kenneth Owens as the controlling stockholder and Whitemark Homes,
Inc. became a wholly owned subsidiary of Golden Triangle Industries, Inc.
Larry White warrants that he has the authority and full legal title to sell
the projects and agrees to transfer these projects for the benefit of the
public company in exchange for the restricted common stock. The Board of
Directors agrees to accept the projects in their current condition with no
warranty from Larry White.
This agreement is binding and shall inure to the benefit of the respective
parties, their successors, assigns, and personal representatives.
Signed and Acknowledged: /s/ Larry White
Larry White, Individually and
President and Chairman of the Board
of Directors of Golden Triangle
Industries, Inc.
