UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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)
April 25, 1997
COUNTRY WIDE TRANSPORT SERVICES, INC.
(Exact name of registrant as specified in its charter)
Commission File Number 0-23360
DELAWARE 95-4105996
(State or other jurisdiction (IRS Employer
of incorporation or organization) Identification Number)
119 Despatch Drive
East Rochester, New York
(Address of principal executive offices)
14445
(Zip Code)
Registrant's telephone, including area code
(716) 381-5470
Item 5. MATERIALLY IMPORTANT EVENTS
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Effective April 30, 1997, the Corporation's operating subsidiary,
Vertex Transportation, Inc., secured a new three-year revolving line of
credit with a commercial bank at $4 million.
The company has received approval from a majority of its stockholders as
well as the Board of Directors to increase the authorized number of common
shares to 30 million, from 10 million.
The company has received approval from a majority of stockholders as
well as the Board of Directors to effectuate a one (1) for five (5) reverse
split of the common stock, effective May 15, 1997.
Effective April 25, 1997 the company completed a private placement to
certain existing accredited stockholders in the amount of $1,644,000 in
exchange for 16,440,000 shares of common stock.
Item 7. EXHIBITS
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Exhibit 1 -- Press release dated May 1, 1997, issued by Registrant
outlining events as listed.
SIGNATURES
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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 hereto duly authorized.
COUNTRY WIDE TRANSPORT SERVICES, INC.
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Registrant
Date: May 7, 1997 -------------------------------
Timothy Lepper
President & CEO