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 15, 1998
Commission file number 33-12664-D
WORLDWIDE GOLF RESOURCES, INC.
(Exact name of registrant as specified in charter)
Nevada 88-0335511
(State of other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification Number)
251 Saulteaux Crescent
Winnipeg, MB, Canada R3J 3C7
(Address of Principal Executive Office) (Zip Code)
(204) 885-555
(Registrant's Executive Office Telephone Number)
1850 E. Flamingo Rd., Suite 111
Las Vegas, Nevada 89119
(Address of United States Office) (Zip Code)
(702) 866-5880
(Registrant's U.S. Telephone Number, Including Area Code)
Copies To:
Mac Shahsavar Donald J. Stoecklein
President Legal Counsel
251 Saulteaux Crescent 1850 E. Flamingo Rd., Suite 111
Winnipeg, MB, Canada Las Vegas, Nevada 89119
(204) 885-5555 (702) 794-2590
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Worldwide Golf Resources, Inc. Page Two
Item No. 1. Changes in Control of Registrant.
No events to report.
Item No. 2. Acquisition or Disposition of Assets.
As a result of recent action by the State of Florida against prior
management of Legend Sports, Inc. and LSI Holdings, Inc., corporations not
affiliated with Worldwide Golf Resources, Inc., the Company, on October 5,
1998, issued a letter of rescission to Gary D. Lipson, the court appointed
receiver of Legend Sports, Inc., offering to rescind the Company's purchase
of the golf driving ranges in the State of Florida. If the rescission is
accepted, the Company will receive stock and cash, placing the Company back
in the position where the Company was prior to the acquisition. It is the
opinion of management that the rescission offer will not be accepted.
Item No. 3. Bankruptcy or Receivership.
No events to report.
Item No. 4. Changes in Registrant's Certifying Accountant.
No events to report.
Item No. 5. Other Events.
On October 15th, 1998 Worldwide Golf Resources, Inc., "Worldwide" entered
into an agreement, the "Separation and Distribution Agreement" with Golf
Subsidiary, Inc., a subsidiary of the company, wherein Worldwide would
distribute to its stockholders shares of Golf Subsidiary, Inc. on the basis
of one Golf Subsidiary , Inc. common share for each ten Worldwide shares as
of the record date of October 31, 1998. Pursuant to the terms and
conditions of the Separation and Distribution Agreement, Worldwide assigned
Worldwide's rights and obligations under the Stock for Stock Purchase
Agreement entered into between Worldwide and Pro Golf of America, Inc.
Item No. 6. Resignation of Registrant's Directors.
The Company accepted the resignations of Debra Amigone as
Secretary/Treasurer, Anthony DeMint as Vice President of Operations/
Director and Seyed Torabian as Vice President/ Director. As part of the
Company's reorganization plan that was implemented in late 1997, Mr. DeMint
and Ms. Amigone resigned from Worldwide Golf Resources, Inc. to accept
positions in Golf Subsidiary, Inc.
Item No. 7. Financial Statements, Proforma Financial Information and
Exhibits.
No events to report.
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Worldwide Golf Resources, Inc. Page Three
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.
Worldwide Golf Resources, Inc.
By: /s/Mac Shahsavar Dated: October 15, 1998
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Mac Shahsavar, President
