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 (date of event reported): August 20, 1997.
INTILE DESIGNS, INC.
(Exact name of registrant as specified in its charter)
Commission File Number: 33-49854-A
DELAWARE 13-3625325
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
9716 Old Katy Road, Suite 110
Houston, Texas 77055
(Address of principal executive offices) (Zip Code)
Registrant's Telephone Number: (713) 468-8400
NOT APPLICABLE
(Former name, former address and former fiscal year,
if changed since last report)
<PAGE>
ITEM 5. OTHER EVENTS
In a report on Form 8-K dated July 28, 1997, reporting an
event that occurred on July 22, 1997, Intile Designs, Inc.
("Company"), disclosed reported deficiencies in property tax
reports rendered from 1991 through 1996 and the withdrawal of the
audit report issued by BDO Seidman, LLP, on the financial
statements of the Company for the fiscal year ended March 31,
1996. As a result of this property tax liability, it is expected
that the Company will need to restate its financial statements
for 1996, and also for the fiscal year ended March 31, 1995. Due
to the potential for restatement of the Company's 1995 financial
statements, Price Waterhouse LLP, the former independent
accounting firm for the Company, has withdrawn its audit opinion
on the March 31, 1995, consolidated financial statements of the
Company.
The Company is in contact with local taxing authorities in
Texas regarding its property tax liability, and is pursuing a
resolution of the matter so that it can determine the extent of
the liability and the impact on the financial statements of the
Company. The Company is hopeful that a resolution will be
reached soon so that the liability can be properly reflected in
the Company's financial statements, the Company can obtain audit
reports on its financial statements, and the Company can file its
periodic reports with the Securities and Exchange Commission.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act
of 1934, as amended, the Registrant has duly caused this report
to be signed on its behalf by the undersigned hereunto duly
authorized.
INTILE DESIGNS, INC.
DATED: August 28, 1997, By: (Signature)
G.C. Siller, Jr., President
