SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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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): JANUARY 3, 2000
POTENCO, INC.
(Exact Name of Registrant as Specified in Its Charter)
NEVADA
(State or Other Jurisdiction of Incorporation)
33-18778 99-0259454
(Commission File No.) (I.R.S. Employer Identification
No.)
3730 KIRBY DRIVE, SUITE 1200
HOUSTON, TEXAS 77098
(Address of Principal Executive Offices)
(281) 587-4645
(Registrant's Telephone Number, Including Area Code)
ITEM 1. RESULTS OF DIRECTORS MEETING AND REORGANIZATION
On January 3, 2000, the Registrant held a Board of Directors meeting
to discuss the reorganization of the Company and the payment of the costs
incurred during the reorganization. After calling the meeting to order, the
acting Chairman for the meeting, L. Mychal Jefferson, announced that the
companies and persons owed monies from the reorganization activities would
accept stock of the company in lieu thereof. The Company will issue 2,998,350
shares of Common Shares registered pursuant to Regulation 8 and Restricted
Common shares issued pursuant to Rule 144 to compensate the individuals and
entities for costs incurred. The Company agreed to file all necessary
documents related to the transaction as soon as possible.
The President thereupon declared that the resolution(s) had been duly adopted.
Being no further business, upon motion, the meeting was adjourned.
ITEM 2. ELECTION OF NEW DIRECTORS AND OFFICERS
On February 15, 2000 the following individuals, Steve Chu (Chairman and
President), and Tim Graves (Director and Secretary) has accepted Board of
Directors memberships and Officers positions. The Former Board members, L.
Mychal Jefferson II, Phil Cohen and Monica W. Jefferson have agreed to resign
their respective positions, effect immediately. The new Board already is
engaged in talks with potential merger candidates. Also the new Board has
agreed to file all necessary corporate and SEC documents for the Company in a
timely manner.
The President thereupon declared that the resolution(s) had been duly
adopted.
There being no further business, upon motion, the meeting was adjourned.
ITEM 3. FINANCIAL STATEMENTS AND EXHIBITS.
(b) Pro forma financial information. Not applicable.
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.
POTENCO, INC.
Date: February 15, 2000 By /s/ L. Mychal Jefferson II
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L. Mychal Jefferson II, President
