FORM S-8
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933
A.G. HOLDINGS, INC.
(Exact name of registrant as specified in its charter)
Washington 91-1253514
(State or other jurisdiction of (I.R.S. Employer Identifi-
incorporation or organization) cation Number)
45110 Club Drive, Suite B, Indian Wells, California 92210
(Address of Principal Executive Offices) (Zip Code)
Advisor Compensation Plan
(Full Title of the plan)
Robert Filiatreaux, President
45110 Club Drive, Suite B, Indian Wells, California 92210
(Name and address of agent for service)
(760) 360-1042
(Telephone number, including area code, of agent for service)
CALCULATION OF REGISTRATION FEE
<TABLE>
<CAPTION>
Title of Proposed
securities Proposed maximum
to be Amount to be maximum offering aggregate offering Amount of
registered registered price per share price registration fee
<S> <C> <C> <C> <C> <C>
Common Stock(1) 4,000,000 $ .0001(2) $400 $100.00(2) (3)
</TABLE>
(1) Includes reoffers. As adjusted for a one-for-500 reverse stock split.
(2) Estimated solely for purposes of determining the registration fee.
(3) The registration fee is based upon the par value ($.0001) since the
Common Stock is not traded and has a negative book value. See Rule
----
457(__). The minimum fee of $100 is paid.
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PROSPECTUS
A.G. HOLDINGS, INC.
Up to 4,000,000 Shares of Common Stock
Offered or Reoffered by Means of this Prospectus
Selling shareholders will offer their shares through the over-the-counter
market, or on NASDAQ or a national securities exchange if the common stock is
then listed on NASDAQ or exchange. Selling shareholders, if control persons, are
required to sell their shares in accordance with the volume limitations of Rule
144 under the Securities Act of 1933, which restricts sales in any three-month
period to the greater of 1% of the total outstanding common stock or the average
weekly trading volume of the Company's common stock during the four calendar
weeks immediately preceding such sale.
The distribution of the Shares by the selling shareholders may be
effected from time to time by underwriters who may be selected by the selling
stockholders and one or more other broker-dealers in one or more transactions.
It is expected that persons effecting transactions will be paid the normal and
customary commissions for market transactions.
AVAILABLE INFORMATION
A.G. Holdings, Inc. (the "Company") is subject to the informational
requirements of the Securities Exchange Act of 1934, as amended (the "Exchange
Act"), and in accordance therewith files reports and other information with the
Securities and Exchange Commission (the "Commission"). Copies of the Company's
annual report or Form 10- KSB for the year ended April 30, 1997, and its
quarterly report on Form 10-QSB for the quarter ended July 31, 1997, together
with all subsequently filed reports and other information filed by the Company
with the Commission, can be inspected and copied at the public reference
facilities maintained by the Commission at 450 Fifth Street, N.W., Room 1024,
Washington, D.C. 20549, and at its Regional Offices located at 7 World Trade
Center, New York, New York 10048, and at Northwestern Atrium Center, 500 West
Madison Street, Suite 1400, Chicago, Illinois 60661. Copies of such material can
be obtained at prescribed rates from the Public Reference Section of the
Commission, Washington, D.C. 20549, during regular business hours, or from the
Commission web site at http://www.sec.gov.
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SELLING STOCKHOLDERS
Information with respect to selling shareholders shall be supplemented at
such time as the identity as shareholders selling "control" or "restricted"
securities become known.
The shares described above have been issued under the Advisor
Compensation Plan. The services rendered under the Advisor Compensation Plan
were not in connection with the offer or sale of securities in a capital raising
transaction.
INFORMATION WITH RESPECT TO THE COMPANY
This Prospectus is accompanied by the Company's Annual Report on Form
10-KSB for the year ended April 30, 1997 and the Company's Quarterly Report on
Form 10-QSB for the quarter ended July 31, 1997 or the latest Annual Report on
Form 10-KSB and Quarterly Reports on Form 10-QSB filed subsequent thereto. These
Annual and Quarterly Reports as well as all other reports filed by the Company
pursuant to Sections 13(a), 13(c), 14 or 15(d) of the Securities Exchange Act of
1934 are hereby incorporated by reference in this Prospectus and may be
obtained, without charge, upon the oral or written request of any person to the
Company at 45100 Club Drive, Suite B, Indian Wells, California 92210 and its
telephone number is (760) 360-1042.
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PART II
Item 3. Incorporation of Documents by Reference.
The Registrant incorporates the following documents by reference in the
registration statement:
(a) The Company's Annual Report on Form 10-KSB filed for the year
ended April 30, 1997 and the Company's Quarterly Report on
Form 10-Q for the quarter ended July 31, 1997.
All other documents filed in the future by Registrant after the date of
this Registration Statement, under Section 13(a), 13(c), 14 and 15(d) of the
Securities Exchange Act of 1934, shall be deemed to be incorporated herein by
reference and to be a part hereof from the date of the filing of such documents
but prior to the filing of a post-effective amendment to this Registration
Statement which deregisters the securities covered hereunder which remain
unsold, shall be deemed to be incorporated by reference in this Registration
Statement and to be a part hereof from the date of filing of such documents.
Item 4. Description of Securities
A description of the Registrant's Securities is incorporated by
reference to its Registration Statement on Form 10, File No. 0-23180.
Item 5. Interests of Named Experts and Counsel
Mr. Jehu Hand, an officer and shareholder of Hand & Hand,
a law corporation, may receive shares issued hereunder.
Item 6. Indemnification of Officers and Directors
The Washington Corporation Act provides for indemnification of
directors and officers against certain liabilities. Officers and directors of
the Company are indemnified generally against expenses actually and reasonably
incurred in connection with proceedings, whether civil or criminal, provided
that it is determined that they acted in good faith, were not found guilty, and,
in any criminal matter, had reasonable cause to believe that their conduct was
not unlawful.
Item 7. Exemption from Registration Claimed
The Company expects to issue shares for advisory services rendered to a
limited number of persons. These sales will be made in reliance of the exemption
from the registration requirements of the Securities Act of 1933, as amended,
contained in Section 4(2) thereof covering transactions not involving any public
offering or not involving any "offer" or "sale."
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Item 8. Exhibits
4. Instruments defining the rights of security holders.
4(1) Board Resolutions describing the Advisor Compensation Plan.
5. Opinion of Hand & Hand, consent included.
23.1 Consent of Hand & Hand (included in the firm's
opinion filed as Exhibit).
23.2 Consent of Accountants.
Item 9. Undertakings
(a) The undersigned registrant hereby undertakes:
(1) To file, during any period in which offers or sales are
being made, a post-effective amendment to this
registration statement:
(i) To include any prospectus required by section
10(a)(3) of the Securities Act of 1933;
(ii) To reflect in the prospectus any facts or events
arising after the effective date of the
registration statement (or the most recent
post-effective amendment thereof) which,
individually or in the aggregate, represent a
fundamental change in the information set forth in
the registration statement;
(iii) To include any material information with respect
to the plan of distribution not previously
disclosed in the registration statement or any
material change to such information in the
registration statement, including (but not limited
to) any addition or election of a managing
underwriter.
(2) That, for the purpose of determining any liability under
the Securities Act of 1933, each such post-effective
amendment shall be deemed to be a new registration
statement relating to the securities offered therein, and
the offering of such securities offered at that time shall
be deemed to be the initial bona fide offering thereof.
(3) To remove from registration by means of a post-effective
amendment any of the securities being registered which
remain unsold at the termination of the offering.
(b) The undersigned registrant hereby undertakes that, for purposes of
determining any liability under the Securities Act of 1933, each
filing of the registrant's annual report pursuant to Section 13(a)
or 15(d) of the Securities Exchange Act of 1934 (and, where
applicable, each filing of an employee benefit plan's annual report
pursuant to Section 15(d) of the Securities Exchange Act of 1934)
that is incorporated by reference in the registration statement
shall be deemed to be a new registration statement relating to the
securities offered therein, and the offering of such securities at
that time shall be deemed to be the initial bona fide offering
thereof.
(c) Insofar as indemnification for liabilities arising under the
Securities Act of 1933 may be permitted to directors, officers and
controlling persons of the registrant pursuant to the foregoing
provisions, or otherwise, the registrant has been advised that in
the opinion of the Securities and Exchange Commission such
indemnification is against public policy as expressed in the Act
and is, therefore, unenforceable. In the event that a claim for
indemnification against such liabilities (other than the
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payment by the registrant in the successful defense of any action,
suit or proceeding) is asserted by such director, officer or
controlling person in connection with the securities being
registered, the registrant will, unless in the opinion of its
counsel that matter has been settled by controlling precedent,
submit to a court of appropriate jurisdiction the question whether
such indemnification by it is against public policy as expressed in
the Act and will be governed by the final adjudication of such
issue.
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SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the
Registrant has duly caused this registration statement to be signed on its
behalf by the undersigned, thereunto duly authorized in the City of Indian
Wells, California, on November 21, 1997.
A.G. HOLDINGS, INC.
By: /s/ Robert Filiatreaux
Robert Filiatreaux
President, Chief Executive and
Financial Officer
Pursuant to the requirements of the Securities Act of 1933, the
registration statement has been signed below by the following persons in the
capacities indicated on November 21, 1997.
/s/ Robert Filiatreaux
President, Chief Executive and Financial Officer and Director
Robert Filiatreaux (Principal Executive, Financial and Accounting Officer)
/s/ Randall Baker Secretary and Director
Randall Baker
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CONSENT ACTION IN WRITING
OF
THE BOARD OF DIRECTORS
OF
A.G. Holdings, Inc.
a Washington Corporation
The undersigned, consisting of all of the directors of A.G. Holdings,
Inc., a Washington corporation (the "Corporation") acting pursuant to Section 23
B.08.210 of the Washington Business Corporation Act, hereby consent to the
following actions and adopt the following resolutions effective August 20,
1997.
* * * *
FURTHER RESOLVED, that the Corporation issue 1,300,000 (post
split) shares of its common stock for services rendered by Mr. Mork,
such shares to be registered under a registration statement on Form S-8
authorizing 4,000,000 shares to be isuable thereunder;
November 21, 1997
A.G. Holdings, Inc.
45110 Club Drive, Suite B
Indian Wells, California 92210
Re: Registration Statement on Form S-8
(the "Registration Statement")
Ladies and Gentlemen:
You have requested our opinion as to the legality of
the issuance by you
(the "Corporation") of 4,000,000 shares of common stock, $.0001 par value per
share ("Shares"), issuable pursuant to the Corporation's Advisor Compensation
Plan (the "Plan").
In giving this opinion, we have reviewed and
examined:
1. The Certificate of Incorporation of the Corporation;
2. The Bylaws of the Corporation;
3. Certain resolutions of the Board of Directors of the
Corporation;
4. The Registration Statement;
5. The Plan; and
6. Such other matters as we have deemed relevant in
order to form our opinion.
In giving our opinion, we have assumed without
investigation the
authenticity of any document or instrument submitted us as an original, the
conformity to the original of any document or instrument submitted to us as a
copy, and the genuineness of all signatures on such originals or copies.
Based upon the foregoing, we are of the opinion that
the Shares to be
offered pursuant to the Registration Statement, if sold as described in the
Registration Statement, and if the options are exercised in accordance with
their terms and the terms of the relevant plan, will be legally issued, fully
paid and nonassessable.
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A.G. Holdings, Inc.
November 21, 1997
Page -7-
No opinion is expressed herein as to the application
of state securities or Blue Sky laws.
This opinion is furnished by us as counsel to you and
is solely for your
benefit. Neither this opinion nor copies hereof may be relied upon by, delivered
to, or quoted in whole or in part to any governmental agency or other person
without our prior written consent.
Notwithstanding the above, we consent to the
reference to our firm name
under the caption LEGAL OPINION in the Prospectus filed as a part of the
Registration Statement and the use of our opinion in the Registration Statement.
In giving these consents, we do not admit that we come within the category of
persons whose consent is required under Section 7 of the Securities and Exchange
Commission promulgated thereunder.
Very truly yours,
HAND & HAND
CONSENT OF INDEPENDENT ACCOUNTANTS
We hereby consent to the incorporation by reference
in the accompanying
Form S-8, of our report dated June 25, 1997, relating to the April 30, 1997
financial statements
of A.G. Holdings, Inc., included in the Annual Report of A.G. Holdings, Inc.
on Form 10-KSB
for the year ended April 30, 1997.
PRITCHETT, SILER & HARDY, P.C.
Salt Lake City, Utah
November 21, 1997
