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) October 27, 1997
AMERICAN CONSOLIDATED
GROWTH CORPORATION
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(Exact name of registrant as specified in its charter)
Delaware 0-16447 52-1508578
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(State of incorporation) (Commission File Number) (IRS Employer ID number)
5031 S. Ulster Street, Suite 205, Denver, CO 80237
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(Address of principal executive office) (Zip code)
(303) 220-8686
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(Registrant's telephone number, including area code)
Form 8-K
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Current Report
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Item 1. Changes in Control of Registrant.
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Not Applicable
Item 2. Acquisition or Disposition of Assets.
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See Item 5 Below.
Item 3. Bankruptcy or Receivership.
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Not Applicable
Item 4. Changes in Registrant's Certifying Accountant.
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Not Applicable
Item 5. Other Events.
On October 22, 1997, the Company successfully completed the sale of
the Overland Park, Kansas operations of its wholly owned subsidiary,
Eleventh Hour, Inc., a staffing services business. The sale was made
to Western Staff Services, Inc., of Walnut Grove, California. AMGC
plans to utilize proceeds from the sale for debt reduction and to
improve ongoing working capital shortages.
The Company's wholly owned subsidiary, Eleventh Hour, Inc., believes
the sale of the Overland Park, Kansas operations, which represented
approximately 25% of EHI's total revenues in fiscal 1997, will not
adversely impact the subsidiary's cumulative fiscal 1998 performance
due to increased sales of the Colorado and California-based
operations. However, management can provide no assurance such
performance will continue during the current fiscal year period ending
June 30, 1998.
In the fiscal year ended June 30, 1997, AMGC reported unaudited gross
revenues of $10,207,667.
SIGNATURES
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Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange
Act of 1934, the Registrant has duly caused this report to be signed on its
behalf by the undersigned, thereunto duly authorized on this 27th day of
October, 1997.
By: s/s Cory J. Coppage
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Cory J. Coppage
Secretary and Treasurer
Dated: October 27, 1997.