UNITED STATES OF AMERICA
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 Report (Date of earliest event reported) August 15th, 1997
(July 18, 1997)
COMTEC INTERNATIONAL, INC.
(Exact name of registrant as specified in its charter)
New Mexico 0-12116 75-2456757
(State or other (Commission (IRS Employer
jurisdiction File Number) Identification No.)
of Incorporation)
14530 East Fremont, Englewood, Co. . 80112
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (303) 627-
8367
This Document consists of 2 pages
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Item 5. Other Events
Adverse Summary Judgment and Decree in Foreclosure Issued
In the case of Sunset Life Insurance Company of America vs. CTI
Real Estate, Inc. Arapahoe County District Court, Case No. 96 CV
741, the Court issued an order dated July 18, 1997 entering summary
judgment and decree in Foreclosure against CTI Real Estate, Inc.,
a subsidiary of ComTec International, Inc. This suit, a
foreclosure action on the Company's building at 10855 East Bethany
Drive, Aurora, Co. was filed in September 1996 in the District
Court for Arapahoe County, Colorado. Sunset Life Insurance Company
had previously sought and obtained the appointment of a receiver to
manage the Company's Building. This suit was consolidated with
Shamrock Electric Co. vs. Nattem U.S.A. Incorporated; Keystone
Holding Corp.; ComTec International; Tim Degarmo T.B.A. DBI
Construction a/k/a DBI Design Builders a/k/a Carlton Builders Inc.;
David L. Terry; Celia M. Terry; Local Service Corporation; Spelman
Mortgage and Investment Company; Kansas City Life Insurance
Company; Sunset Life Insurance Company of America; Key
Communications Group; Golesh Door & Trim, Inc.; Roberta F. Gillis,
Public Trustee of Arapahoe County, and any and all occupants. A
notice of Sheriff's sale dated August 11, 1997 has set a Sheriff's
sale for September 23, 1997 in Littleton, Colorado. The Company
has listed the building for sale and will have until approximately
December 7, 1997 to redeem or close a sale on the building or any
equity in the Building will be lost.
Complaint for Declaratory Relief and Damages filed by the Company
On August 7th the Company filed a Suit in United States District
Court for the District of Colorado, Denver, Colorado, Case 97-1685
seeking a court ruling that option agreements entered into by and
between the Company and the Defendants, consisting of DCL
Associates, Inc. and thirty three additional Defendants are legal,
valid and enforceable agreements. The suit involves a purported
dispute concerning the continuing validity of an agreement by the
Company executed August 6th, 1996 wherein the Company obtained
options to purchase 1389 EIW channels and 1046 non-EIW channels
from DCL Associates, Inc. and the thirty three additional
Defendants. The August 6th, 1996 agreement was recorded as a
purchase of license rights by the Company at a purchase price of
$1,991,000. None of the Defendants have yet been served or
answered the Company's Complaint. The Company anticipates that a
negotiated out of court resolution could resolve the matter.
Exhibits
None
SIGNATURES
ComTec International, Inc.
(Registrant)
Date: August 15, 1997
s/s Donald G. Mack
________________________________________
Donald G. Mack - Authorized Officer
Treasurer, and President.
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