SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): November 19, 1996
CONTINENTAL AMERICAN TRANSPORTATION, INC.
Exact name of Registrant as specified in charter)
Colorado 0-18729 84-1089599
(State or other (Commission (IRS employee
jurisdiction of file number) identification
incorporation no.)
495 Lovers Lane Road, Calhoun, Georgia 30701
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(Address of principal executive office) Zip Code
Registration telephone number, including area code: (706) 629-8682
<PAGE>
Item 5. Other Events.
The Board of Directors of Registrant has authorized
an Atlanta based law firm to commence an action in
United States District Court, Northern District of
Georgia, against William T. Denman, III, a former
shareholder of the Registrant, seeking a declaratory
judgment that Registrant's actions in cancelling Mr.
Denman's shares in 1995 for non payment of any
consideration for the issuance of the canceled
shares. Following the cancellation of his 5,320
common shares, Mr. Denman wrote several letters to
the Securities and Exchange Commission (the "SEC")
alleging, among other things, that the cancellation
was illegal. On the basis of these Denman letters,
the SEC commenced a preliminary investigation into
the Company's past trading activities.
By authorizing the declaratory judgment action,
Registrant's Board of Directors is confident that the
Federal District Court will confirm the legality of
its actions in cancelling Denman's shares especially
under the circumstances where there is no record that
Mr. Denman paid any consideration for them.
SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of
1934, the Registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
CONTINENTAL AMERICAN TRANSPORTATION, INC.
By:s/Timothy Holstein
Timothy Holstein, President
Dated: November 19, 1996
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