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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
October 16, 1995
(Date of Report)
AJAY SPORTS, INC.
(Exact name of Registrant as specified in its charter)
Delaware
(State or other jurisdiction of incorporation or organization)
0-18204 39-1644025
(Commission File Number) (I.R.S. Employer Identification
Number)
1501 E. Wisconsin Street, Delavan, Wisconsin 53115
(Address of principal executive offices including zip code)
(414) 728-5521
(Registrant's telephone number, including area code)
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Item 5. Other Events
(a) The Registrant reports that as of October 2, 1995, Ajay Leisure
Products,Inc., a wholly owned subsidiary of the Registrant, purchased
certain assets from Korex Corporation. The Registrant's subsidiary
acquired the inventory and certain machinery, furniture and equipment
as well as the right to use the Korex name and any trade names that
accompany the inventory. The inventory, machinery, furniture and
equipment are being transferred to the Registrant's primary
manufacturing facility in Delavan, Wisconsin where they will be
co-mingled with the existing business assets of Ajay Leisure Products,
Inc. The inventory consists of golf bags, golf accessories and golf
carts. The equipment consists of primarily portable small assembly and
sewing related items, furniture and equipment, office furniture and
computers. The assets were acquired at fair market value in exchange
for cash of $1.7 million and 240,625 shares of the Registrant's Common
Stock. Korex Corporation is an Illinois corporation whose principle
owner is C. Kimberly Kang. There is no material relationship between
Ms. Kang, Korex and the Registrant or any of its affiliates, directors
or officers of the Registrant, or any associate of any such director or
officer. The funds for the acquisition were provided through a loan
from U. S. Bank.
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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 hereunto duly authorized.
AJAY SPORTS, INC.
BY S\ROBERT R. HEBARD
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Robert R. Hebard, Secretary
October 13, 1995
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