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) November 19, 1997
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AGTsports, Inc.
(Exact name of registrant as specified in its charter)
Colorado 0-21914 84-1165916
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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.
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On November 17, 1997, the Company completed the "conditional closing"
of Sinties Corporation, of Tulsa, Oklahoma. The final closing is
subject to a planned public offering by the Company in calendar 1998.
Sinties Corporation is a private company engaged in the business of
developing and marketing technology and equipment related systems for
the health and fitness industries. The acquisition was made on a stock
for stock basis under which Sinties Corporation will become a wholly
owned subsidiary of AGTsports, Inc.
For the fiscal year ended December 31, 1996, Sinties Corporation
reported gross revenues of approximately $3 million, representing
sales of health and spa equipment to the health and fitness industries
in the United States and Europe. These products are marketed under
entities known as Sinties Scientific, Inc. and SciFit, Ltd. The
Company believes Sinties Corporation is an important addition to the
AGTsports, Inc. family of companies, possessing synergistic business
objectives in the sports and technology arenas and adding new sources
of revenue to the Company's operations.
Key employees from Sinties Corporation will continue in their current
capacities to include Sinties director Mr. James McGill, who joined
the AGTsports, Inc. Board of Directors on October 1, 1997. (See the
Company's Form 8-K dated October 8, 1997).
SIGNATURES
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 19th day of
November, 1997.
by: /s/ Cory J. Coppage
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Cory J. Coppage
Secretary and Treasurer
Dated: November 19, 1997