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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 July 31, 1997
COMMISSION FILE NO. 0-24812
BRASSIE GOLF CORPORATION
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(Exact name of registrant as specified in its charter)
DELAWARE 56-1781650
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(State or other jurisdiction of (I.R.S. Employer Identification No.)
incorporation or organization)
5806-A Breckenridge Parkway, Tampa, FL 33610
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(Address of principal executive offices)
(813) 621-4653
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(Registrant's telephone number, including area code)
Check whether the registrant: (1) has filed all reports required to be filed by
Section 13 or 15 (d) of the Securities Exchange Act of 1934 during the preceding
12 months (or for such shorter period that the registrant was required to file
such reports), and (2) has been subject to such filing requirements for the past
90 days.
Yes [X] No [ ]
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BRASSIE GOLF CORPORATION
FORM 8 - K
TABLE OF CONTENTS
<TABLE>
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Item 1. Changes in Control of Registrant - None
Item 2. Acquisition or Disposition of Assets.............................................................Page 3
Item 3. Bankruptcy or Receivership - None
Item 4. Changes in Registrant's Certifying Accountant - None
Item 5. Other Events - None
Item 6. Resignations of Registrant's Directors - None
Item 7. Financial Statements and Exhibits ...............................................................Page 3
Signatures................................................................................................Page 4
Exhibit 2.1 Stock Purchase and Sale Agreement dated June 24, 1997 between Brassie
Golf Corporation and Granite Golf Group, Inc............................................Page 5
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ITEM 2. Acquisition or Disposition of Assets
The Company has disposed of its golf course management operations through the
sale of two of the Company's consolidated subsidiaries, Club Operations and
Property Management, Inc. ("COPM") and Brassie Golf Management Services, Inc.
("BGMS").
On July 16, 1997 the Company sold all the outstanding capital stock of COPM, a
Florida Corporation, and BGMS, a Delaware Corporation, to Granite Golf Group,
Inc., headquartered in Phoenix, Arizona ("Granite"). The sales price for the
subsidiaries was comprised of $600,000 cash at closing and, at the Company's
sole election, either (i) $250,000 cash to be paid within one year of closing or
(ii) $500,000 of Granite common stock, one half of which is to be paid one year
from closing and one half to be paid two years from closing.
ITEM 7. Financial Statements and Exhibits
Financial Statements
None.
Exhibits
Exhibit 2.1 -- Stock Purchase and Sale Agreement dated June 24,
1997 between Brassie Golf Corporation and Granite Golf Group, Inc.
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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 herein duly authorized.
BRASSIE GOLF CORPORATION
By: /s/ Stephen A. Tucker
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Stephen A. Tucker
(Principal Financial and
Accounting Officer)
Date: July 31, 1997
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