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 1, 1997
NELX, Inc.
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(Exact name of registrant as specified in its charter)
Kansas 0-21210 84-0922335
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(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
10200 W. 44th Ave. #400, Wheat Ridge, CO 80033
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code 303-422-9497
Not Applicable
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(Former name or former address, if changed since last report.)
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Item 1. Changes in Control of Registrant
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The Company entered into a stock exchange agreement with the Shareholders
of Lincoln Aztec Corp. ("LAC"), of Denver, Colorado, NELX, Inc. ("NELX") to
acquire 100% of LAC for 33,500,000 shares of NELX common stock. After due
diligence was completed, the Board voted to terminate further negotiations. Both
parties agreed and signed a termination.
Item 2. Acquisition or Disposition of Assets
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Disposition of land 5 acres at 104th and York Street, Thornton, Colorado
and 5 acres at 120th and Wadsworth, Broomfield, Colorado have been Quit-Claimed
in lieu of foreclosure to the Lenders due to NELX's defaults on notes. This
removes $400,000 in liability from NELX's books and reduces assets by $800,000.
Item 3. Bankruptcy or Receivership
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None.
Item 4. Changes in Registrants Certifying Accountant
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None.
Item 5. Other Events
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Shares were issued to Board of Directors for past services for which they
were not paid in the following amounts:
500,000 shares to each Director
Grant I. Gaeth and Reed L. Clayson
1,000,000 shares to the President
Wesley F. Whiting
Item 6. Resignation of Directors
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None.
Item 7. Financial Statements Pro Forma Financial & Exhibits
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Financials - None at this time.
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Exhibits
None.
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 thereunto duly authorized.
Date: July 1, 1997 NELX, Inc.
By: /s/ WESLEY F. WHITING
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Wesley F. Whiting, President
