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):
November 25, 1996
Grand Toys International, Inc.
(Exact name of registrant as specified in its charter)
Nevada 02-22372 87-0454155
(State of Incorporation) (Commission File Number) (IRS Employer
Identification No.)
1710 Route Transcanadienne
Dorval, Quebec, Canada H9P 1H 7
(Address of principal executive offices) (Zip Code)
(514) 685-2180
(Registrant's telephone number)
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Item 5. Other Events.
On November 25, 1996, Grand Toys International, Inc. (the "Company")
settled the lawsuit against it for a combination of cash and shares of common
stock of the Company having an aggregate value of approximately $600,000. The
Company anticipates that this one-time expense will result in a small loss in
the fourth quarter of its 1996 fiscal year, although the management of the
Company expects the Company to be profitable for the entire year 1996.
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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 thereunto duly authorized.
Date: December 23, 1996 GRAND TOYS INTERNATIONAL, INC.
By: /s/ Ron Goldenberg
Ron Goldenberg, Executive Vice President
and Chief Financial Officer
