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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: July 6, 1995
Commission File No. 1-10020
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Excal Enterprises, Inc.
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(Exact name of registrant as specified in its charter)
Delaware 59-2855398
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(State or other jurisdiction of (I.R.S. Employer Identification No.)
incorporation or organization)
100 North Tampa Street, Suite 3575, Tampa, Florida 33602
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(Address of principal executive offices)
(813) 224-0228
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Registrant's telephone number, including area code
Assix International, Inc.
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505 E. Jackson Street, Suite 220 Tampa, Florida 33602
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(Former Name, former address and former fiscal year, if changed since last year)
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ITEM 1 CHANGES IN CONTROL OF REGISTRANT
Inapplicable
ITEM 2 ACQUISITION OR DISPOSITION OF ASSETS
Inapplicable
ITEM 3 BANKRUPTCY OR RECEIVERSHIP
Inapplicable
ITEM 4 CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT
Inapplicable
ITEM 5 OTHER EVENTS
In the past, the Company's Automotive division had operated with its
licensed agents on a contractual basis which included a 30 day termination
provision. In many cases (especially with smaller accounts), the business
relationship with a proposed agent is initiated upon the execution of a
comprehensive letter of intent with the understanding that the final licensed
agent agreement will be executed shortly thereafter. The Company's business
relationship with Big 10 Tire Co. of Mobile Alabama is controlled by such a
letter of intent, dated March 26, 1992, which the Company attempted to convert
into a signed 12 month agreement in 1993 and 1994. However, in December 1994,
Big 10 Tires initiated discussions regarding its desire to alter the letter of
intent/Agency arrangement, which among other issues included the purchase of
the Combi-Matcher equipment from the Company. After months of discussions,
Big 10 Tires notified the Company pursuant to a letter dated April 28, 1995
that it intended to terminate its agreement with the Company effective as of
May 28, 1995.
However, the agreement first requires the Company and Big 10 Tires to
take steps to "cure" under the Agreement (within a 60 day period) before
termination will be effective. Since no agreement has been reached, the
Company will begin to remove the Accubalance(R) program starting in July, 1995.
Since no revenues will be received for the Big 10 Tires program past June 30,
1995, the Company's Automotive Division will have a reduction of approximately
25% of their total automotive revenue. The Company has recently initiated a
marketing campaign to obtain new agents for their Accubalance(R) program. The
Company is optimistic that new agent programs will be developed.
ITEM 6 RESIGNATION OF REGISTRANT'S DIRECTORS
Inapplicable
ITEM 7 FINANCIAL STATEMENTS AND EXHIBITS
(a) Financial Statements of business acquired
Inapplicable
(b) Pro-forma financial information
Inapplicable
(c) Exhibits
Inapplicable
ITEM 8 CHANGE IN FISCAL YEAR
Inapplicable
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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, hereunder duly authorized.
EXCAL ENTERPRISES, INC.
(Registrant)
By: W. Carey Webb
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W. Carey Webb
CEO/President
Dated July 6, 1995
