SECURITIES AND EXCHANGE COMMISSION
Washington, DC
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report: January 28, 1999
POWERHOUSE RESOURCES, INC.
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(Exact name of registrant as specified in its charter)
Colorado 0-11546 84-0832977
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(State of other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
1764 Platte Street, Suite 200 (River Side), Denver, Colorado 80202
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (303) 964-9156
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Item 5. Other Events
James Ellerton, the former Chairman and President of the Company, filed a
lawsuit in September 1994 in Arapahoe County, Colorado regarding claims
associated with his employment at the time of his resignation on March 10, 1994.
The suit was heard in January 1999 and the presiding judge dismissed eight of
nine claims brought by Mr. Ellerton against the Registrant and certain of the
directors. On the single remaining Breach of Contract claim the jury found in
favor of Mr. Ellerton and awarded him $235,569.50 plus post judgment interest as
provided by law and costs to be determined by the court. Mr. Ellerton
subsequently filed for penalties and legal fees in addition to again seeking
personal liability on wage claims against certain directors. The Registrant was
advised on April 8, 1999 that these latest claims of Mr. Ellerton were denied by
the court. The Registrant has filed for the reimbursement of legal fees
associated with the claims which the Registrant was forced to defend and were
subsequently dismissed by the court. No ruling to date has been made by the
Court.
Item 5. Other Events.
The Registrant was notified on February 9, 1999 that Mr. Robin De Morgan
resigned as a Director and Secretary of the Company. No reason was stated in Mr.
De Morgan's resignation letter.
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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 thereunto duly authorized.
Date: April 9, 1999 Powerhouse Resources, Inc.
By: /s/ Dennis C. Dowd
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Dennis C. Dowd, President
