VILLAGE GREEN BOOKSTORE INC
8-K, 1995-08-04
MISCELLANEOUS SHOPPING GOODS STORES
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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): July 20, 1995


                        THE VILLAGE GREEN BOOKSTORE, INC.
             (Exact name of registrant as specified in its charter)



      New York                           0-16007                 16-1181167
(State or other jurisdiction           (Commission             (IRS Employer
      of incorporation)                 File Number)         Identification No.)


                     1357 Monroe Avenue, Rochester, NY 14618
               (Address of principal executive offices) (Zip code)


                                 (716) 442-1151
              (Registrant's telephone number, including area code)



                                       n/a
          (Former name or former address, if changed since last report)



<PAGE>



Item 5.  Other Events.

     On July 20, 1995, The Village Green Bookstore, Inc. (the "Company") amended
the exercise price of a warrant issued to Mr. Mark Kalimian to purchase  100,000
shares of Common Stock exercisable through March 12, 2000 to $2.25 per share.


Item 7.  Financial Statements and Exhibits

(c)  Exhibits

          10.32 Letter  Agreement  dated July 20, 1995 between The Village Green
          Bookstore, Inc. and Mark Kalimian amending September 12, 1994 Warrant

                                       -2-

<PAGE>



                                   SIGNATURES

     Pursuant to the  requirements  of the Securities  Exchange Act of 1934, the
Registrant caused this report to be signed on its behalf by the undersigned duly
authorized.


                                        THE VILLAGE GREEN BOOKSTORE, INC.
                                        (Registrant)



                                        By: \RAYMOND C. SPARKS\
                                           Raymond C. Sparks, President

DATED: August 2, 1995

                                       -3-





                        The Village Green Bookstore, Inc.
                               1357 Monroe Avenue
                               Rochester, NY 14618

                                            July 20, 1995



Mr. Mark Kalimian
350 East 79th Street Apt. 2C
New York, NY  10021

         Re:  Modification of Warrant

Dear Mr. Kalimian:

     Reference is made to Warrant No. W-1 (the  "Warrant")  of The Village Green
Bookstore,  Inc. (the "Company")  dated September 12, 1994 pursuant to which you
are  entitled to acquire up to 100,000  shares of Common Stock of the Company at
an initial exercise price of Four ($4.00) Dollars per share of Common Stock (the
"Purchase Price").

     This letter shall confirm the following:

     1. The Warrant is hereby amended to provide that the Purchase Price therein
is Two Dollars and Twenty Five Cents ($2.25).

     2. Except as provided by paragraph 1, the Warrant remains in full force and
effect.

     Please  confirm the  foregoing by signing in the space below and  returning
this letter to the Company.

                                       THE VILLAGE GREEN BOOKSTORE, INC.



                                       By:  \Raymond Sparks\
                                              Raymond Sparks, President

ACCEPTED AND AGREED:



 \Mark Kalimian\
Mark Kalimian




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