UNITED STATES 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 Earliest Event Reported: March 28, 2000
LAS VEGAS ENTERTAINMENT NETWORK, INC
(Exact name of small business issuer as specified in its Charter)
Delaware 94-3125854
(State or other jurisdiction (I.R.S. Employer
incorporation or organization) Identification No.)
1801 Century Park East, Los Angeles, California 90067
(Address of principal executive offices) (Zip Code)
(310) 551-0011
(Registrant's telephone number, including area code)
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Item 5. Other Events.
The Company has been notified by NASDAQ that its shares do not meet the
qualifications for inclusion for trading on the NASDAQ Small Cap Market and
that its shares have been de-listed.
The Company's auditors are concluding their annual audit at which time the
Company expects to be able to meet its filing requirements with the
Securities and Exchange Commission. Once this is done, the Company intends
to reapply and have its shares quoted on the NASDAQ electronic Bulletin
Board or on the NASDAQ Small Cap Market if it can demonstrate that it meets
the listing requirements to NASDAQ's satisfaction.
Also, the Company is negotiating to acquire a business in Brazil for which
funding was supposedly being provided by Fred or Kari Cruz. The Company is
continuing the negotiations without the participation of Fred or Kari Cruz.
Pursuant thereto, the Company has rescinded the transaction and financing
agreement with Fred and Kari Cruz and their affiliates and the three
million shares of the Company's Common Stock issued pursuant to the Cruz
Agreement have been canceled.
The Company has also been informed that ITB Corporation is closing in on a
sale of the El Rancho property to an adjacent landholder. Therefore, the
Company expects to write off its investment in ITB as presented in the
Company's July 31, 1999 10-Q filing.
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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.
LAS VEGAS ENTERTAINMENT NETWORK, INC
Date: March 28, 2000 By: /s/ Carl Sambus
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Carl Sambus
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