UNITED STATES
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: April 3, 2000
CONSOLIDATED CAPITAL OF NORTH AMERICA, INC.
(Exact name of registrant as specified in its charter)
Colorado 0-21821 93-0962072
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
410 17th Street, Suite 400, Denver, Colorado 80202
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (888) 313-8051
None
(Former name or former address, if changes since last report)
Item 5.Other Events.Press Release Announcing Termination of Business Opportunity
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Exhibits
Exhibit 99.1 - Press Release, dated April 3, 2000, announcing the termination of
a business opportunity that had been previously announced.
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.
CONSOLIDATED CAPITAL OF
NORTH AMERICA, INC.
Date: April 3, 2000 By:/s/ Donald R. Jackson
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Donald R. Jackson
Treasurer
For Immediate Release
Consolidated Capital of North America, Inc. Announces
Termination of Business Proposal.
Denver, Colorado, April 3, 2000. Consolidated Capital of North America, Inc.
(OTCBB: CDNO) announced today that the holders of a substantial amount of the
Company's debt have failed to accept management's previously announced private
offer to its creditors to exchange its outstanding parent-company debt for
Common Stock. Therefore, as of March 31, 2000 the Company remains subject to a
material amount of debt.
Accordingly, the proposal for a possible combination of the Company with
European e Commerce Limited ("EEC") has been terminated. One of several
conditions for the combination with EEC to proceed was that the Company be free
of all material debts by March 31, 2000.
The Company has not retained an accounting firm to prepare its 1999 audited
financial statements because it does not have funds available to pay for the
audit. Therefore, the Company was not able to file its Form 10-KSB in a timely
manner. Such failure has resulted in the inability of certain holders of
restricted and control securities to sell those securities under the SEC's Rule
144.
Management intends to consider any options that may become available, and may
continue its dialog with its creditors. At the present time, there are no
proposals or opportunities that Management is aware of, or considering.
Statements made in this press release may constitute forward-looking statements
and are subject to numerous risks and uncertainties relating to the Company's
ability to continue to operate at even minimal levels. Therefore, the actual
results of the Company's efforts may differ materially from those described in
this press release.
Contact:
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Richard Bailey
President
310-265-4404
