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: March 17, 2000
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)
10525 W, 23rd Place, Lakewood, CO 80215
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(New address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code 304-622-9599
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Item 1. Changes in Control of Registrant
None.
Item 2. Acquisition or Disposition of Assets
The Board of Directors of NELX, Inc. as a result of due diligence on the
proposed acquisitions of Reliable Energy Producers, Inc. rejected the
acquisition.
The Board was unable to justify the value placed on the coal bed
methane lease or to obtain a direct relationship with the coal company that was
necessary to develop the project with Square Roots, Incorporated.
The acquisition of Square Roots, Incorporated was approved by the Board.
Under the terms of the Agreement, NELX, Inc. will exchange one million shares of
the NELX, Inc. stock for all the issued shares of Square Roots, Incorporated.
There is to be no other remuneration for the acquisition. This acquisition is
subject only to final review of all environmental issues and permits by the
NELX, Inc. Board. Financial statements of Square Roots, Inc. will be filed
within 30 days in an 8-K. Square Roots, Inc. is a producer of kiln dried lumber
for industrial use in West Virginia, including cross ties and pallet materials.
Additionally, Charles L. Stout, President of NELX, Inc., and applied
Mechanic Corporation, a West Virginia corporation, announced that for the sum of
one dollar ($1.00), Applied Mechanics Corporation through a corporate resolution
will assign to NELX, Inc. all its right, title, and interest in each of Roane
County, West Virginia oil and gas properties it owns to facilitate the proposed
development plans of Square Roots, Incorporated. This transfer is subject to
West Virginia Department of Environmental Protection approval and will be
accomplished as each property transfer is approved by same regulatory body and
also by the NELX, Inc. Board.
There are no other acquisitions currently in discussion by the NELX, Inc.
Board.
Item 3. Bankruptcy or Receivership
None.
Item 4. Changes in Registrants Certifying Accountant
None.
Item 5. Other Events
None.
Item 6. Appointment of New Directors
None.
Resignation and Appointment of Officers
None.
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Item 7. Financial Statements Pro Forma Financial & Exhibits
Financial Statements - None.
Exhibits - None.
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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 thereunto duly authorized.
Date: March 17, 2000
NELX, Inc.
/s/ Charles L. Stout
By: ---------------------------------------
Charles L. Stout, President
