SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549
__________________
FORM 8-K
Current Report Pursuant to Section 13 or 15(d) of
The Securities Act of 1934
Date of Report(Date of Earliest Event Reported): July 14, 2000
NOVA NATURAL RESOURCES CORPORATION
(Exact name of registrant as specified in its charter)
Colorado 0-15078 84-1227328
(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File No.) Identification No.)
4340 East Kentucky Ave, Suite 418, Glendale, Colorado 80246
(Address of principal executive offices) (Zip Code)
(303)863-1997
(Registrant's telephone number, including area code)
ITEM 5. Other Events
The Company reported on April 24, 2000 that it had signed a Letter
of Intent with TORITA DONGHAO LLC ("Torita Delaware"), a Delaware
Corporation, by which Torita Delaware will acquire control of the
Company. Torita Delaware is a wholly-owned subsidiary of Torita
Group of the People's Republic of China ("PRC").
In order to complete negotiation of the definitive agreement and
provide time for the parties to conduct appropriate due diligence
activities, on June 21, 2000, Torita Delaware and Nova agreed to
extend the expiration date of the Letter of Intent to July 31,
2000.
Torita Delaware and the Company have reached agreement on the terms
of the definitive agreement and on July 9, 2000, Torita Delaware
signed the definitive agreement, and made an initial cash payment
to the Company of $10,000 toward its total cash payment obligation
of $75,000.
The Company requires additional time to complete its due diligence,
which will include a review of Torita Delaware's audited financial
statements for the two years ended December 31, 1999 and 1998. The
audit of Torita Delaware's financial statements, currently
underway, is not yet completed.
As soon as the Company has been able to review the audited
financial statements and satisfactorily complete its due diligence
activities, the majority of which will take place in China, it will
be in a position to sign the definitive agreement, prepare proxy
materials and schedule a shareholders' meeting. It is unlikely
that the Company will be in a position to sign the definitive
agreement until August, and accordingly, the Company and Torita
Delaware have agreed to extend the expiration of the Letter of
Intent to August 31, 2000.
Although Nova has every intent to successfully complete this
transaction, there can be no assurance that this transaction will
be completed, or if completed, that the terms will be as presently
contemplated.
Nova Natural Resources Corporation
(Registrant)
BY: /s/ Brian B. Spillane
________________________________
Brian B. Spillane, President
BY: /s/ James R. Schaff
________________________________
James R. Schaff, Secretary-Treasurer
