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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
September 16, 1997
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Date of Report
(Date of Earliest Event Reported)
KARA INTERNATIONAL, INC.
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(Exact Name of Registrant as Specified in its Charter)
Nevada 002-97690-D 87-0421191
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(State or other (Commission File No.) (IRS Employer I.D. No.)
Jurisdiction)
897 South Artistic Circle
Springville, Utah 84663
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(Address of Principal Executive Offices)
(801)489-3238
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Registrant's Telephone Number
N/A
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(Former Name or Former Address if changed Since Last Report)
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Item 1. Changes in Control of Registrant.
None; not applicable. However, see Item 5 of this Report, regarding a
Letter of Intent respecting a proposed reorganization between the Registrant
and International Heritage Inc., a corporation organized under the laws of the
State of North Carolina ("IHI"), which, if completed, would result in a change
in control.
Item 5. Other Events.
On September 16, 1997, the Registrant and IHI executed a Letter of
Intent regarding a proposed reorganization whereby it is contemplated that IHI
will become a wholly-owned subsidiary of the Registrant. The Registrant will
also exchange options to acquire shares of its common stock for currently
outstanding options of IHI, on the same terms and conditions currently
governing the IHI options.
Following the completion of the first stage of the reorganization,
the directors and executive officers of IHI shall become the directors and
executive officers of the Registrant.
Item 7. Financial Statements and Exhibits.
(c) Exhibits.
Description of Exhibit Exhibit No.
News Release dated October 1, 1997 99
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.
KARA INTERNATIONAL, INC.
Date: 10/1/97. By /s/ David N. Nemelka
President, Secretary and Director
NEWS RELEASE
Kara International, Inc., a Nevada corporation (the "Company,"
[OTC Bulletin Board Symbol "KARA"]), announced today that it had entered into
a Letter of Intent regarding a proposed reorganization whereby it is
contemplated that International Heritage Inc., a North Carolina corporation
("IHI"), will become a wholly-owned subsidiary of the Company.
Following the completion of the first stage of the reorganization,
the directors and executive officers of IHI shall become the directors and
executive officers of the Company.
IHI is principally engaged in the direct sale of fine 14K, 18K and
24K gold jewelry, precious stone jewelry, fine collectibles from some of the
world's most prestigious manufacturers, golf products and accessories and
telecommunications products and services.
October 1, 1997
cc. Dow Wire Service Fax No. 212-416-4008
Bloomberg Financial Markets Fax No. 609-279-5976
Reuters Fax No. 212-859-1717
