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 earliest event reported):   March 6, 1997

CONTINENTAL AMERICAN TRANSPORTATION, INC.
         Exact name of Registrant as specified in charter)

Colorado         0-18729           84-1089599
(State or other       (Commission            (IRS employee
jurisdiction of       file number)           identification
incorporation                                       no.)


   495 Lovers Lane Road, Calhoun, Georgia          30701
- --------------------------------------------------------
     (Address of principal executive office)     Zip Code

Registration telephone number, including area code: (706) 629-8682













Item 5.           Other Events.

                  On March  6,  1997,  Registrant's  management  learned  that a
                  certain  Japanese  Government  Bond  transferred  to  it by an
                  investor was  counterfeit.  The investor,  T. Pat McGlon,  had
                  caused his brokerage firm to transfer  physical  possession of
                  the subject bond to the Registrant's  brokerage firm who, when
                  they  attempted to sell the instrument  today,  discovered its
                  counterfeit nature.

                  Immediately upon gaining  knowledge of the counterfeit  nature
                  of the  instrument,  Registrant's  management  instructed  its
                  general  counsel to inform the Atlanta,  Georgia office of the
                  Federal  Bureau  of   Investigation   of  all  the  facts  and
                  circumstances  surrounding the attempted  perpetration of this
                  fraud  upon  the  Registrant.   In  addition,  the  Registrant
                  canceled the 7% convertible  preferred shares it had issued to
                  the  investor,  the  final  amount of which  securities  to be
                  transferred was subject to adjustment  based upon the proceeds
                  derived  from the sale of the  subject  fraudulent  bond.  The
                  Registrant  intends  to pursue  all of its civil and  criminal
                  remedies against the investor and his associates.


                                   SIGNATURES

         Pursuant to the  requirements  of the  Securities  and  Exchange Act of
1934,  the  Registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.


                              CONTINENTAL AMERICAN TRANSPORTATION, INC.



                               By: s/Erik Bailey
                                  Erik Bailey, Vice President
                                  and Chief Financial Officer

Dated:  March 6, 1997









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