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
April 29, 1996
Date of Report
(Date of earliest event reported)
SPORTS HEROES, INC.
(Exact name of registrant as specified in its charter)
Delaware 1-110933 65-0053475
(State or other juris- (Commission (IRS Employer
diction of incorporation) File Number) Identification)
105 North Hudson Avenue, Suite 701
Oklahoma City, Oklahoma 73102-4803
(Address of Principal Executive Offices)
(405)272-5000
Registrant's telephone number,
including area code
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Item 5. Other Events.
On April 29, 1996 the Company received a notice of Default from its secured
lender, Belgrave Investment Trust N.V., under the Revolving Loan and
Security Agreement dated March 24, 1993, as amended, between the
Company and the secured lender, with respect to the following:
(a) in not remitting to the orders signed all collections of "Assigned
Receivables", as required by Amendment No. 5 to the Agreement and (b)
not delivering its financial statements for the year ended 12/31/95
within the stipulated time period and the continuation of such failure
to deliver said statements after the expiration of the applicable cure
period.
The Company is making its best efforts to cure the defaults.
<PAGE>
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.
SPORTS HEROES, INC.
G. GERALD MCGREEVY
G. Gerald McGreevy
Treasurer
Dated: May 6, 1996
