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
December 2, 1998
Date of Report
(Date of Earliest Event Reported)
U S Jet, Inc.
(Exact Name of Registrant as Specified in its Charter)
Nevada 33-8067-NY 84-1422609
(State or other (Commission File No.) (IRS Employer I.D. No.)
Jurisdiction
111 Airport Road
Butte, Montana 59701
(Address of Principal Executive Offices)
Registrant's Telephone Number
406-494-7512
Item 1. Changes in Control of Registrant.
None; not applicable.
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.
None; not applicable.
Item 5. Other Events.
On December 2, 1998, U S Jet, Inc. announced that it will acquire
Zantop International Airlines, Inc. ("Zantop"), of Ypsilanti, Michigan, in a
merger transaction between Zantop and a wholly owned subsidiary of the
Registrant. See Item 7.
Item 6. Resignation of Registrant's Directors
None; not applicable.
Item 7. Financial Statements and Exhibits.
The following exhibit is filed as part of this report:
Description of Exhibit* Number
News Release dated December 2, 1998, of U S Jet, Inc.,
announcing that it will acquire Zantop International Airlines,
Inc., of Ypsilanti, Michigan, in a merger transaction. 99
Amended News Release dated December 8, 1998, of the above 99
Item 8. Change in Fiscal Year.
None; not applicable.
Item 9. Sales of Equity Securities Pursuant to Regulation S.
None; not applicable.
SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of
1934, the Registrant has duly caused this Report to be signed on its behalf by
the undersigned hereunto duly authorized.
U S JET, INC.
Date: 12/9/98 By/s/Kenneth R. DeBree
Kenneth R. DeBree
President and Director
NEWS RELEASE For Immediate Release
December 2, 1998
Contact Person:
Kenny DeBree, U S Jet - Butte MT (406) 494-7512
Two Airline Companies To Merge
BUTTE -- U S Jet, Inc. (symbol USJT), of Butte, Montana, announced today that
it has signed an agreement to acquire Zantop International Airlines (ZTIA), of
Ypsilanti, Michigan, in a transaction scheduled to close within the next
several weeks. Traded on the NASDAQ Over the Counter Bulletin Board, U S Jet
is an international transportation and distribution company. ZTIA is a Part
121 certified air carrier engaged in the air cargo and aircraft maintenance
business and is currently based at the Willow Run Airport, near Detroit,
Michigan.
Based in Butte, locally owned U S Jet operates a major regional
refrigerated warehouse and freight terminal, using long haul trucks and cargo
aircraft to provide integrated logistical services and move products
throughout the United States for major commercial shippers, exporters, cargo
forwarders, and contract customers.
ZTIA, with assets of $29 million and annual revenues approaching $24
million, will lead the parent company's evolution into international jet cargo
operations, which the Company will support from its Montana facilities.
According to U S Jet President and Chief Executive, Kenny DeBree "the
addition of Zantop to out operation provides us with a global distribution
network that we can use to pursue other international transportation and trade
opportunities."
AMENDED NEWS RELEASE For Immediate Release
December 8, 1998
Contact Person:
Kenny DeBree, U S Jet - Butte MT (406) 494-7512
Two Airline Companies To Merge
BUTTE -- U S Jet, Inc. (symbol USJT), of Butte, Montana, announced today that
it has signed an agreement in principal to acquire Zantop International
Airlines (ZTIA), of Ypsilanti, Michigan, in a transaction scheduled to close
within the next several weeks. Traded on the NASDAQ Over the Counter Bulletin
Board, U S Jet is an international transportation and distribution company.
ZTIA is a Part 121 certified air carrier engaged in the air cargo and aircraft
maintenance business and is currently based at the Willow Run Airport, near
Detroit, Michigan.
Based in Butte, locally owned U S Jet operates a major regional
refrigerated warehouse and freight terminal, using long haul trucks and cargo
aircraft to provide integrated logistical services and move products
throughout the United States for major commercial shippers, exporters, cargo
forwarders, and contract customers.
ZTIA, with assets of $29 million and annual revenues approaching $24
million, will lead the parent company's evolution into international jet cargo
operations, which the Company will support from its Montana facilities.
According to U S Jet President and Chief Executive, Kenny DeBree "the
addition of Zantop to out operation would provide us with a global
distribution network that we can use to pursue other international
transportation and trade opportunities."
