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 14, 1997 (October 29, 1997)
U.S. PAWN, INC.
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(Exact name of registrant as specified in its charter)
Colorado 0-18291 84-0819941
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(State or other jurisdiction (Commission (IRS Employer I.D. Number)
of incorporation) File Number)
7215 Lowell Boulevard
Westminster, Colorado 80030
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(Address of principal executive offices)
Registrant's telephone number, including area code: (303) 657-3550
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N/A
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(Former name or former address, if changed since last report)
<PAGE>
Item 5. Other Events
On October 29, 1997, U.S. Pawn, Inc. (the "Registrant") accepted the
resignations of Daniel B. Rudden, Stanley M. Edelstein, Larry M. Snyder and
Melvin Wedgle as members of the Registrant's Board of Directors pursuant to the
agreement contained in the Schedule 14f(1) filed by the Registrant on September
26, 1997. The Registrant also accepted the resignations of Melvin Wedgle as
Chief Executive Officer and President and Jack Simon as Secretary and Chief
Financial Officer. All resignations were effective as of October 29, 1997. Gary
A. Agron, a Member of the Board of Directors since 1989, remains as a Director.
Also on October 29, 1997, the Registrant appointed Charles C. Van Gundy as
Director, President and Chief Financial Officer, and Jack Skidell and Mark
Honigsfeld as Directors. Mr. Van Gundy, associated with the Company since
January 1992, served the Company as its Chief Financial Officer, Secretary, and
as a member of the Board of Directors from October 1994, until his resignation
in August of 1997.
Mr. Skidell is President and sole shareholder of Colin Winthrop & Co.,
Inc., a New York based broker dealer. Mr. Skidell has been associated with the
Company as one of its investment bankers since 1989. Mr. Honigsfeld is Chairman
of the Board, Secretary and Chief Executive Officer of Compu-Dawn, Inc., a
NASDAQ-listed company. He also founded and served as Chief Executive Officer and
Chairman of the Board of Facelifters Home Systems, Inc., a NASDAQ-listed company
until April 1996 when it was acquired by a New York Stock Exchange company.
The newly constituted Board of Directors is composed of four
individuals, three of whom have been associated with the Company since at least
1992. Mr. Van Gundy was an officer and director with the Company, responsible
for its financial controls and reporting, for more than five years prior to his
appointment as its President.
U.S. Pawn, Inc. owns and operates 17 pawn shops located in Colorado,
Wyoming, Nevada and Nebraska.
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.
Dated: November 14, 1997
U.S. PAWN, INC.
by: /s/ CHARLES C. VAN GUNDY
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Charles C. Van Gundy
President
Chief Executive Officer
