SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
FORM 8-K
CURRENT REPORT
Pursuant to section 13 or 15(d) of
the Securities Act of 1934
June 16, 1999
AIRTECH INTERNATIONAL GROUP, INC.
(Exact name of registrant as specified in charter)
Wyoming 0-19796 98-0120805
(State or other (Commission File Number) (IRS Employer
jurisdiction of Identification No.)
incorporation)
15400 Knoll Trail, Suite 106
Dallas, Texas 75248
(Address of Principal Executive Offices)
972-960-9400
(Registrant's telephone number including area code)
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Item 2. Disposition of Assets
Effective May 31, 1999, the Board of Directors voted to discontinue operations
of the Company's subsidiary, McCleskey Sales & Service, Inc. (MSS). As reported
in the Company's quarterly reports for the periods ending November 30, 1998 and
February 28, 1999, the Company had terminated the staff of MSS effective
September 30, 1999. The Company determined that the heating, ventilation, and
air conditioning (HVAC) service business was not compatible with the Company's
current business plan relating to the manufacture and distribution of high
quality air purification equipment. The HVAC service business was considered to
be highly labor intensive and highly competitive. The Company believes it or its
customers can easily contract with local HVAC businesses to provide installation
and replacement services.
As of the year ended May 31, 1999 MSS had negative equity totaling $169,700
(unaudited), including intercompany payables. A plan for disposing of the
remaining assets and liabilities has not yet been established. The disposition
will be recorded on the company's consolidated balance sheet at May 31, 1999 as
discontinued operations.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
Airtech International Group, Inc.
by: /s/ CJ Comu
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CJ Comu,
Chief Executive Officer
Dated: June 16, 1999
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