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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): August 24, 1995.
MPTV, INC.
(Exact Name of Registrant as Specified in its Charter)
Nevada
(State or Other Jurisdiction of Incorporation)
0-16545 88-0222781
(Commission File Number) (I.R.S. Employer Identification No.)
3 Civic Plaza
Suite 210
Newport Beach, California 92660
(Address of Principal Executive Offices, Including Zip Code)
(714) 760-6747
(Registrant's Telephone Number, Including Area Code)
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ITEM 5.
OTHER EVENTS.
MPTV, Inc., a Nevada corporation (the "Registrant"), has announced that
negotiations have been terminated with Consortium International, Inc. for an
$8,600,000 loan secured by the Lake Tropicana Timeshare Resort.
As permitted by General Instruction F to Form 8-K, the Registrant hereby
incorporates by reference the information contained in the press release dated
August 23, 1995, which is filed as an Exhibit to this Report on Form 10-K.
ITEM 7.
FINANCIAL STATEMENTS AND EXHIBITS.
(a) Financial statements of businesses acquired: N/A
(b) PRO FORMA financial information: N/A
(c) Exhibits:
EXHIBIT NO. DESCRIPTION
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99.1 Press Release, dated August 23, 1995, regarding
Consortium International.
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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.
MPTV, INC.
Date: September 11, 1995 By:/s/ JAMES C. VELLEMA
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Name: James C. Vellema
Title: Chairman/Chief Executive Officer
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MPTV, Inc.
3 Civic Plaza, Suite 210
Newport Beach, CA 92660
Phone: (714) 760-6747
Fax: (714) 760-6825
IMMEDIATE PRESS RELEASE
MPTV, INC.
(NASDAQ Symbol "MPTV"
August 23, 1995
MPTV, Inc., a Nevada corporation ("MPTV"), announces that negotiations have been
terminated with Consortium International, Inc. for an $8,600,000 loan secured by
Lake Tropicana Timeshare Resort. The lender transmitted the loan documents to
Fidelity National Title Agency of Nevada, Inc. for recording upon receipt of
funding. The funding has not occurred as of August 23, 1995, the last written
extension requested by the lender.
MPTV management has decided to pursue negotiations with another lender for a
similar loan secured by a first mortgage on the property. MPTV has received
assurances that the new transaction can be completed in time to allow timeshare
sales and earnings to occur in the fourth quarter of 1995.
Attorneys for MPTV are exploring available and equitable remedies for the
failure to fund the Consortium loan.
For more information contact:
James C. Vellema, Chairman
MPTV, Inc.
(714) 760-6747
