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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 of 1934
Date of Report (Date of earliest event reported) January 20, 1997
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AGTSPORTS, INC.
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(Exact Name of Issuer as specified in its charter)
COLORADO 0-21914 84-1165916
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(State or other (Commission (IRS Employer File Number)
jurisdiction of File No.)
incorporation)
P.O. Box 620
TAMPA, FLORIDA 33601
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(Address of principal executive offices zip code)
(813) 661-3209
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(Registrant's telephone number, including area code)
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Act of 1934
Item 1. CHANGES IN CONTROL OF REGISTRANT.
Not Applicable
Item 2. ACQUISITION OR DISPOSITION OF ASSETS.
Not Applicable
Item 3. BANKRUPTCY OR RECEIVERSHIP.
Not Applicable
Item 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT.
Not Applicable
Item 5. OTHER EVENTS.
The Registrant has closed on an agreement with a major creditor
of the Registrant to convert $1,200,000 of the Registrant's debt,
related accrued interest, and certain other rights, to restricted
shares of the Registrant's common stock.
In addition, a lawsuit claiming $2,174,000 in damages from the
Registrant has been dismissed. This litigation represented the
only remaining material litigation against the Registrant.
Item 6. RESIGNATION OF REGISTRANT'S DIRECTORS.
Not Applicable.
Item 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.
Not Applicable
Item 8. CHANGE IN FISCAL YEAR.
Not Applicable
Item 9. SALES OF EQUITY SECURITIES PURSUANT TO REGULATION S.
Not Applicable
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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 hereunto duly authorized.
AGTsports, INC.
By: /s/ B. MACK DEVINE
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B. Mack DeVine
Chief Executive Officer
Dated: January 20, 1997
