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): April 30, 2001


                             American Group Inc.
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             (Exact name of registrant as specified in its charter)


         Nevada                     0-30474                    88-0326984
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(State or other jurisdiction     (Commission File Number)      (IRS Employer
     of incorporation)                                       Identification No.)



10570 Hagen Ranch Road Boynton Beach, FL                               33437
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(Address of principal executive offices)                             (Zip Code)


Registrant's telephone number, including area code          561-391-5555
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         (Former name or former address, if changed since last report.)






Item 5. Other Events.
        -------------

         On April 30, 2001 American Group Inc. (the "Company") issued 8,455,206
shares of common stock in exchange for convertible notes and accrued interest
totaling $676,416.








                                   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 hereunto duly authorized.



                                                     AMERICAN GROUP INC.



Date:    May 14, 2001                            By: /s/ ROBERT I. CLAIRE
                                                         -----------------------
                                                             Robert I. Claire
                                                             President













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