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SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15 (d)
OF THE SECURITIES EXCHANGE ACT OF 1934
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Date of Report (Date of earliest event reported): August 27, 1997
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JOHN ADAMS LIFE CORPORATION
(Exact name of registrant as specified in its charter)
California 0-13969 95-4081667
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(State or other (Commission (I.R.S. Employer
jurisdiction of File Number) Identification No.)
incorporation)
11845 W. Olympic Blvd., Suite 905, Los Angeles, California 90064
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(Address of principal executive offices) (zip code)
Registrant's telephone number, including area code: (310) 444-5252
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Item 1. Changes in Control of Registrant.
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(a) On August 27, 1997, Benjamin A. DeMotto, as Trustee for The
Benjamin A. DeMotto and Patricia L. DeMotto Living Trust dated July 17, 1997,
purchased 175,000 shares (6.1%) of the common stock of John Adams Life
Corporation (the "Company") for $109,375 from Patrick W. Hopper. The source of
the consideration used by Mr. DeMotto was his personal funds; no part of this
consideration was from a loan. Mr. DeMotto is the Chairman of the Board, Chief
Executive Officer, Director and President of the Company.
Prior to the purchase described above, Mr. DeMotto owned 1,380,000
shares (48.17%) of the Company's common stock and options, which are currently
exercisable, to purchase 150,000 shares of the Company's common stock. Mr.
DeMotto now owns 1,555,000 shares (54.3%) of the Company's common stock;
including his exercisable stock options (150,000), Mr. DeMotto is the
beneficial owner of 1,705,000 shares (56.6%) of the Company's common stock.
(b) There are no arrangements between Mr. DeMotto and the above listed
former shareholder with respect to the election of or the resignation of
directors.
Item 5. Other Events.
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On August 31, 1997, Nicholas A. Del Sesto resigned as a director and as
the Executive Vice President of John Adams Life Corporation (the "Company").
Mr. Del Sesto also resigned as a director and as the President of Firingline
Corporation, the Company's wholly-owned subsidiary.
L.E. Chenault resigned as a director of the Company on September 2,
1997.
SIGNATURE
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.
JOHN ADAMS LIFE CORPORATION
Date: September 5, 1997 Benjamin A. DeMotto
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Benjamin A. DeMotto
President and
Chief Executive Officer
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