UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 of 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): May 7, 1996
MONITREND INVESTMENT MANAGEMENT, INC.
(Exact name of registrant as specified in its charter)
Delaware 0-16462 22-6382734
(State or other (Commission File Number) (IRS Employer
jurisdiction of Identification
incorporation) Number)
1299 Ocean Avenue, Suite 210, Santa Monica, California 90401
(Address of principal executive offices)
(310) 393-1424
Registrant's telephone number, including area code
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Item 1. Changes in control of Registrant.
N/A
Item 2. Acquisition or Disposition of Assets.
N/A
Item 3. Bankruptcy or Receivership.
N/A
Item 4. Changes in Registrant's Certifying Accountant.
N/A
Item 5. Other Events.
Monitrend Investment Management, Inc. ("MIMI") has entered into an
agreement in principle with an investment group led by Lloyd McAdams and
Heather U. Baines, Pacific Income Advisors and Capital Advisors Inc. which
calls for a capital investment in MIMI and a three year agreement to
provide facilities and management personnel. All parties are working to
complete related documentation and expect to finalize the transaction
within 30 days or sooner. The new management group plans to build-up
Monitrend's customer service facilities and expand Monitrend's analytical
staff.
In a related matter, Monitrend and BeneFund have agreed to a
transaction which calls for the transfer of BeneFund's interest in
Monitrend to the aforementioned investment group in exchange for preferred
stock and retention of the 1,000,000 shares of MIMI common previously
issued. The agreement supersedes prior arrangements and both companies
have determined that this arrangement better facilitates the plans the
companies have for developing financial products.
In conjunction with the transaction with Pacific Income Advisors,
Monitrend will move its corporate offices to Santa Monica, California.
The transaction requires regulatory and stockholder approval which will be
submitted on the appropriate timetable.
Item 6. Resignations of Registrant's Directors.
N/A
Item 7. Financial Statements, Pro Forma Financial Information and
Exhibits.
N/A
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, Registrant has duly caused this report to be signed on its behalf by
the undersigned, thereunder duly authorized.
MONITREND INVESTMENT MANAGEMENT, INC.
By: /s/ Phillip R. Verrill
Phillip R. Verrill
President
Date: May 7, 1996
