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 Report: October 23, 1997
WORKFORCE SYSTEMS CORP.
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(Exact name of registrant as specified in its charter)
FLORIDA 333-11169 65-0353816
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(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification
incorporation) Number)
7777 Glades Road, Suite 211
Boca Raton, Fl 333433
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: 561-488-4802
Not Applicable
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(Former name or former address, if changed since last report)
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Item 5. Other Event.
As disclosed in the annual report on Form 10-KSB of Workforce Systems
Corp., a Florida corporation (the "Company"), Yucatan Holding Company, a Florida
corporation ("Yucatan") was the shareholder of record of an aggregate of 504,891
shares of the Company's common stock. Of such amount, Jayme Dorrough, the sole
officer, director and shareholder of Yucatan held sole voting and depository
power as to 304,891 shares and Ella Chesnutt, a former officer and director of
both the Company and Yucatan, held sole voting and depository power as to the
remaining 200,000 shares. On October 22, 1997 the Company repurchased the
304,891 shares of common stock from Yucatan over which Mrs. Dorrough held voting
and depository power, which represented approximately 11.8% of the then issued
and outstanding common stock. The terms of the cash transaction were not
disclosed. Following such repurchase, the shares were returned to the treasury
of the Company with the status of authorized but unissued common stock, thereby
reducing the number of issued and outstanding shares of common stock to
2,278,455 shares.
Following such transaction, Mrs. Dorrough, a member of the Board of
Directors of the Company, voluntarily resigned her seat on the Company's Board.
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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.
Date: October 22, 1997 By: /s/ Robert L. Hausman
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Robert L. Hausman,
President
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