U.S. 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: August 26, 1997
HA SPINNAKER, INC.
(Exact name of registrant as specified in its charter)
COLORADO
(State or other jurisdiction of incorporation)
000-21099 84-112830
(Commission File No.) (IRS Employer
Identification No.)
5650 Greenwood Plaza Blvd.
Suite 216
Englewood, Colorado 80111
(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code: (303) 741-1118
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Item 2. Acquisition and Disposition of Assets.
On or about August 19, 1997 the Registrant did file a Form 8-K
with the Commission, advising of the effectiveness of a Plan of
Merger by and between the Registrant and Zaba International
Holdings USA, Inc. ("Zaba"). Subsequent to said date, former
management has discovered a material inaccuracy in the
representations and warranties made by Zaba and included in the
applicable Agreement. Pursuant to the terms of said Agreement,
management of the Registrant has today provided notice of the same
to management of Zaba. As a result, management of Zaba will have
twenty (20) days from the date of such notice to cure any and all
defects, as outlined in the Registrant's letter. Failure of Zaba
to properly cure within the 20 day period shall cause the Agreement
to be terminated in accordance with its terms.
It is the position of management of the Registrant that the
relevant Agreement is not effective as of the date of this report.
It is further the position of such management that the aforesaid
Agreement will not be deemed effective until Zaba does cure and
that current management remains in control of the Registrant.
Management of the Registrant has been advised that management of
Zaba concurs with this position.
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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.
HA SPINNAKER, INC.
By:/s/ Gregory W. Skufca
Gregory W. Skufca,
President
Dated: August 26, 1997.
