UNITED STATES
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) October 31, 1995
Commission file Number 0-15435
First Entertainment, Inc.
(Exact name of registrant as specified in its charter.)
Colorado 84-0974303
(State or other jurisdiction of (I.R.S. Employer
incorporated or organization) Identification No.)
1380 Lawrence Street, Suite 1400 80204
(Address of principal executive offices (Zip Code)
Registrant's telephone number, including area code:
(303) 592-1235
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
First Entertainment, Inc. (the registrant) had entered into numerous
agreements with Indian Motocycle Manufacturing Company, Inc.(IMMCI) and
Indian Motor Company to become the exclusive licensing agent of the Indian
Motorcycle trademark for all merchandise, as well as the rights to own
operate or franchise the Indian Diner or Cafes. These agreements were entered
into in March of 1995. Further agreements were entered into in July of 1995
reconfirming and immediately putting into effect previous licensing
agreements. In addition, 5 additional licenses were granted to FEI from IMMCI
in September of 1995.
On October 23, 1995 in a hearing before Bankruptcy Court Judge Henry Boroff,
in Worcester, Massachusetts, Indian Motocycle Manufacturing Company Inc.,
(IMMCI, the Chapter 11 Debtor) was converted to a Chapter 7 bankruptcy and
all of its assets, including the trademark assets, were transfered to the
property of the Chapter 7 estate. The effect of this decision was to put into
question the Registrants previous licensing agreements.
The Chapter 7 trustee, now in control of the trademark assets has entered
into a contract of sale of the Chapter 7 estate with MBL, Investments, Inc.
This sale is awaiting approval of the Court pursuant to Section 363 of the
Bankruptcy Act.
MBL Investment, Inc. has reached an agreement with the Registrant that if MBL
is successful in the purchase of the Trademark Assets from the Bankruptcy
Trustee, MBL will convey the licensing rights to the Registrant,previously
entered into with IMMCI and IMC.
Item 6. Resignation of Registant's Directors.
Not Applicable
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
Not Applicable
Item 8. Change in Fiscal Year.
Not Applicable
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 autorized.
FIRST ENTERTAINMENT, INC.
By:______________________
A.B. Goldberg
President
Dated: October 31, 1995
