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): April 2, 1998.
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 1. CHANGES IN CONTROL OF REGISTRANT
ITEM 5. OTHER EVENTS
On April 2, 1998, Intile Designs, Inc. ("Company"), entered
into a Letter of Intent ("LOI"), to sell 25,000,000 new shares of
the Company's Common Stock for $2,000,000 in cash, to Energy
Drilling Industries, Inc. ("EDII")(OTCBB: EDII). This will
represent an ownership of approximately 82% of Intile. The
proceeds of the sale will be used in the restructuring of the
Company's senior debt on terms more favorable to the Company.
The LOI is subject to certain conditions, including due diligence
by both parties, amendment of the Company's charter to increase
the number of authorized shares of Common Stock, negotiating
terms of debt restructuring with the Company's senior lender, and
negotiating definitive agreements to effect the transaction.
Headquartered in Houston, Texas, EDII is a holding company
with diverse interests in five industry segments: industrial,
financial, oil and gas, real estate and entertainment.
The Company also announced that it anticipates reporting
approximately $13,500,000 in revenues for the year ended March
31, 1998.
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: April 10, 1998 By: (Signature)
G. C. Siller, Jr., President
