SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
AMENDMENT TO
SCHEDULE 13D
Under the Securities Exchange Act of 1934
WORLDWIDE GOLF RESOURCES, INC.
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(Name of Issuer)
COMMON STOCK
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(Title of Class of Securities)
981595-10-1
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(CUSIP Number)
Gary D. Lipson, as Receiver of
LSI Holdings, Inc. and Legend Sports, Inc.
c/o Muller & Lipson, P.A.
9350 South Dixie Highway, Suite 1550
Miami, Florida 33156
(305) 670-6770
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(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
November 3, 1998
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(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule
13G to report the acquisition which is the subject of this
Schedule 13D, and is filing this schedule because of Rule
13d-1(b)(3) or (4), check the following box [ ].
<PAGE>
AMENDMENT TO SCHEDULE 13D
CUSIP NO. 981595-10-1 PAGE 2 OF 5 PAGES
1) Name of Reporting Person: Gary D. Lipson, as Receiver of
LSI Holdings, Inc. and
Legend Sports, Inc.
S.S. or I.R.S. Identification No. of Above Person: 64-0841345
2) Check the Appropriate Box if a Member of a Group (See
Instructions):
(a)[ ] (b)[ ]
3) SEC Use Only
4) Source of Funds (See Instructions): OO
5) Check if Disclosure of Legal Proceeding is Required Pursuant
to Items 2(d) or 2(e) [ ]
6) Citizenship or Place of Organization: United States of America
Number of 7) Sole Voting Power: 1,350,000
Shares
Beneficially 8) Shared Voting Power: 0
Owned by
Each 9) Sole Dispositive Power: 1,350,000
Reporting Person
With 10) Shared Dispositive Power: 0
11) Aggregate Amount Beneficially Owned by Each Reporting
Person: 1,350,000 shares
12) Check if the Aggregate Amount in Row (11) Excludes
Certain Shares (See Instructions) [ ]
13) Percent of Class Represented by Amount in Row (11): 7.78%
14) Type of Reporting Person (See Instructions): OO
<PAGE>
AMENDMENT TO SCHEDULE 13D
CUSIP NO. 981595-10-1 PAGE 3 OF 5 PAGES
ITEM 1. SECURITY AND ISSUER.
Securities acquired: Common Stock
Issuer: Worldwide Golf Resources, Inc.
Address of 251 Saulteaux Crescent 1850 East Flamingo Road
Issuer: Winnipeg, Manitoba Suite 111
Canada R3J 3C7 Las Vegas, NV 89119
ITEM 2. IDENTITY AND BACKGROUND.
Reporting Person: Gary D. Lipson, as Receiver of LSI
Holdings, Inc. and Legend Sports, Inc.
Address: c/o Muller & Lipson, P.A.
9350 South Dixie Highway, Suite 1550
Miami, Florida 33156
Principal Business: Receiver
Citizenship of Receiver: United States of America
During the last five years, Gary D. Lipson has not (i) been
convicted in a criminal proceeding (excluding traffic violations
or similar misdemeanors), or (ii) been a party to a civil
proceeding of a judicial or administrative body of competent
jurisdiction and as a result of such proceedings was or is
subject to a judgment, decree or final order enjoining future
violations of, or prohibiting or mandating activities subject to,
federal or state securities laws or finding any violations with
respect to such laws.
<PAGE>
AMENDMENT TO SCHEDULE 13D
CUSIP NO. 981595-10-1 PAGE 4 OF 5 PAGES
ITEM 3. SOURCE AND AMOUNT OF FUNDS.
In January 1998, prior to the commencement of legal
proceedings to establish a receivership for LSI Holdings, Inc.
and Legend Sports, Inc., certain assets were transferred to a
subsidiary of the Issuer in exchange for certain consideration,
including without limitation 1,350,000 shares of Common Stock of
the Issuer. No funds were borrowed by the Receiver to acquire
shares of common stock of the Issuer.
ITEM 4. PURPOSE OF THE TRANSACTION.
Gary D. Lipson, as Receiver, has acquired the shares of
Common Stock of the Issuer in connection with his assumption of
the duties as Receiver of LSI Holdings, Inc. and Legend Sports,
Inc. Gary D. Lipson, as Receiver, does not at present have any
plans or proposals which relate to or would result in any of
the actions specified in clauses (a) through (j) of Item 4 of
Schedule 13D. Gary D. Lipson, as Receiver, reserves the right
from time to time to acquire additional shares of Common Stock of
the Issuer, to dispose of shares of Common Stock of the Issuer,
and to engage in any or all of the actions specified in clauses
(a) through (j) of Item 4 of Schedule 13D.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
(a) As of the date hereof, Gary D. Lipson, as Receiver,
holds 1,350,000 shares of Common Stock of the Issuer. Gary D.
Lipson, as Receiver, believes that, based upon information
contained in the Issuer s Registration Statement on Form S-8,
filed with the Securities and Exchange Commission as of March 19,
1998, these shares represent approximately 7.78% of the aggregate
number of issued and outstanding shares of Common Stock of the
Issuer.
(b) Gary D. Lipson, as Receiver, has the sole power to
vote and to dispose of the shares of Common Stock of the Issuer
beneficially owned by him in such capacity.
(c) The Issuer caused a stock certificate representing
1,350,000 shares of Common Stock of the Issuer to be issued in
the name of Gary D. Lipson, as Receiver, on or about May 18,
1998.
(d) Not Applicable.
(e) Not Applicable.
<PAGE>
AMENDMENT TO SCHEDULE 13D
CUSIP NO. 981595-10-01 PAGE 5 OF 5 PAGES
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS AND
RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE
ISSUER.
On November 3, 1998, Gary D. Lipson, as Receiver, commenced
a lawsuit styled Gary D. Lipson, as Receiver v. Shahsavar, et
al., Case No. 98-1222-CV-18-B, United States District Court for
the Middle District of Florida. In such suit, Gary D. Lipson, as
Receiver, has made several claims against the Issuer, its
directors and officers, and certain of its affiliates Such
claims include claims for securities fraud, breach of contract,
and negligent misrepresentation in connection with the
transaction described in Item 3 above and fraudulent transfer of
assets in connection with the proposed spinoff of a subsidiary
corporation of the Issuer.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
Not Applicable.
SIGNATURE. After reasonable inquiry and to the best of my
knowledge and belief, I certify that the information set forth
in this statement is true, complete and correct.
/s/ Gary D. Lipson, as Receiver
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Gary D. Lipson, as Receiver of
LSI Holdings, Inc. and Legend
Sports, Inc.
Date: November 10, 1998
