SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
CURRENT REPORT ON FORM 8-KA
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report, May 15, 1998
Commission File Number: 0-20307
AVALON COMMUNITY SERVICES, INC.
(Exact name of Registrant as
specified in its corporate charter)
Nevada 13-3592263
(State of Incorporation) (I.R.S. Employer I.D. Number)
13401 Railway Drive, Oklahoma City, Oklahoma 73114
(Address of Principal executive offices)
(405) 752-8802
(Issuer's telephone number)
ITEM 2. Acquisition of Assets
On October 2, 1997, Avalon Community Services, Inc. acquired an adult
correctional facility from Freedom Ranch, Inc. The facility is doing business as
Turley Correctional Center. Avalon Community Services, Inc. assumed management
and began operating the facility on October 2, 1997. The facility is a 150- bed
adult residential community corrections facility on 35 acres of land, located in
Tulsa, Oklahoma. The facility was purchased from Freedom Ranch, Inc., an
Oklahoma non-profit corporation.
Audited financial statements of the assets acquired from the seller, Freedom
Ranch, Inc. are presented in Item 7 below. Additionally, unaudited pro forma
combined financial statements are also provided in Item 7 below.
ITEM 7. Financial Statements and Exhibits
a. Financial Statements and Report of Independent Certified Public Accountants
for the Turley Correctional Facility acquired from Freedom Ranch, Inc. as of
and for the years ended June 30, 1996 and June 30, 1997.
b. Pro forma combined financial statements of Avalon Community Services, after
the purchase of the Turley Correctional Facility from Freedom Ranch, Inc. as
of September 30, 1997, and for the year ended December 31, 1996 and the nine
months ended September 30, 1997.
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AVALON COMMUNITY SERVICES, INC. AND SUBSIDIARIES
SIGNATURES
In accordance with the requirements of the Exchange Act, the registrant has
caused this report to be signed on its behalf by the undersigned thereunto duly
authorized.
Date: May 15, 1998 AVALON COMMUNITY SERVICES, INC.
By: \Jerry Sunderland
--------------------------------
Jerry Sunderland, President