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FORM 8-K
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
DATE OF REPORT: JUNE 16, 1995
KLEER-VU INDUSTRIES, INC.
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(Exact Name of Registrant as specified in its Charter)
DELAWARE 1-8497 13-5671924
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State or other Commission File I.R.S. Employer
jurisdiction of Number Identification Number
Incorporation
921 WEST ARTESIA BLVD., COMPTON, CALIFORNIA 90220
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(Address of Principal Executive Office) (Zip Code)
REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE: (310)603-9330
NOT APPLICABLE
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(Former address, if changed since last report)
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Item 5. Other Information.
On May 22, 1995 a complaint was filed by Westminster Capital, Inc.
("Westminster") against Kleer-Vu Industries, Inc. (the "Company"), and H.P. Park
and David Hardee, the Company's Co-Chief Executive Officers, individually, in
the California Superior Court, Los Angeles County.
The complaint alleges that the Company breached a purported contract
by failing to borrow $4.5 million from Westminster, and in connection therewith
failing to issue warrants to Westminster to purchase 500,000 of the Company's
shares of common stock. Westminster is also alleging that the Company breached
its implied covenant of good faith and fair dealing and that the alleged actions
constituted fraud by all the defendants.
Westminster's complaint seeks compensatory damages to the determined,
punitive damages of $5,000,000 and injunctive relief that the Company issue the
warrants to Westminster.
The Company believes that Westminster's claims have no merit and it
intends to vigorously defend the action. An answer has not yet been filed and
no discovery has been conducted to date.
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SIGNATURES
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.
Date: June 15, 1995
KLEER-VU INDUSTRIES, INC.
Registrant
By:/s/David W. Hardee
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David W. Hardee, Co-Chief Executive Officer
