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
May 27, 1999
(Date of Earliest Event Reported)
FORMULA FOOTWEAR, INC.
(Exact Name of Registrant as Specified in its Charter)
UTAH 2-98748 87-0431584
(State or other Jurisdiction) (Commission File No.) (IRS Employer I.D. No.)
5525 SOUTH 900 EAST, SUITE 110
SALT LAKE CITY, UTAH 84117
(Principal Executive Office Address)
Registrant's Telephone Number, Including Area Code: (801)262-8844
5674 El Camino Real, Suite K
Carlsbad, CA 92008
(Former Name or Former Address, if Changed Since Last Report)
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Item 1. Changes in Control of Registrant.
On May 27, 1999 the Registrant's officers and directors attained control
through the issuance of stock for compensation for services provided to the
Registrant. In conjunction with this change in control, the Registrant
effectuated a reverse split of its outstanding voting securities on a basis of
533 for one, effective May 30, 1999, while retaining the current authorized
capital and par value, with appropriate adjustments in the stated capital
accounts and capital surplus accounts; provided, that no stockholder, computed
on a per stock certificate record basis on the effective date hereof, currently
owning 100 or more shares shall be reduced to less than 100 shares as a result
of the reverse split and that no stockholder owning less than 100 shares, on a
stock certificate record basis on the effective date hereof, shall be affected
by the reverse split; such additional shares required to provide the minimum of
100 shares to be conveyed to the shareholders will be issued by the Registrant;
and provided, further, that all fractional shares shall be rounded up to the
nearest whole share, and that these shares shall be provided by the Registrant.
Item 2. Acquisition or Disposition of Assets.
None; not applicable.
Item 3. Bankruptcy or Receivership.
None; not applicable
Item 4. Changes in Registrant's Certifying Accountant.
Jones Jensen & Company, LLC, Certified Public Accountants, of Salt Lake
City, Utah, have been retained to audit the financial statements of the
Registrant as of June 25, 1999. The Registrant has been unable to locate the
previous auditor, Coleman & Grant, of Newport Beach, California who last audited
the Registrant's financial statements the fiscal year ended March 31, 1988.
There were no disagreements between the Registrant and the previous auditor, the
Registrant has had no activity since 1989, and the auditor has since then
relocated and has not been located.
Item 5. Other Events.
None; not applicable.
Item 6. Resignations of Directors and Executive Officers.
Galo Lebron the Registrant's previous President resigned December 31, 1989.
Jeff Skeen the Registrant's previous Secretary resigned March 21, 1999. New
officers have been appointed to fill the vacancies created by these
resignations.
Item 7. Financial Statements and Exhibits.
Financial Statements.
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None; not applicable.
Exhibits.
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None; not applicable
Item 8. Change in Fiscal Year.
None; not applicable.
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.
FORMULA FOOTWEAR, INC.
Date: By /S/JAMES DOOLIN
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JAMES DOOLIN, PRESIDENT AND DIRECTOR
