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) February 16, 1998
American Consolidated Growth Corporation
(Exact name of registrant as specified in its charter)
Commission File Number 0-16447
Delaware 52-1508578
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(State of incorporation) (I.R.S. Employer Identification No.)
621 17th Street, Suite 1730, Denver, CO 80202
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(Address of principle executive offices and zip code)
(303) 297-8686
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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.
See Item 5 below
Item 2. Acquisition or Disposition of Assets.
Not Applicable
Item 3. Bankruptcy or Receivership.
Not Applicable
Item 4. Changes in Registrant's Certifying Accountant.
Not Applicable
Item 5. Other Events.
On February 11, 1998, the Company received notice of
termination, effective March 15, 1998, of a 1996 services
contract with a major client of the Company's wholly owned
subsidiary, Eleventh Hour, Inc. The contract represents
approximately 50% of the annual sales of Eleventh Hour,
Inc.'s temporary employee services. For the fiscal year
ended June 30, 1997, Eleventh Hour, Inc. produced unaudited
revenues of $10,207,667.
Management estimates the loss of the client contract will
have a material adverse effect on the future business and
profitability of the Company, and of Eleventh Hour, Inc. The
loss of the business was attributed to increased competition
and the transfer of the contract to a larger national
staffing services provider having business offices in areas
of the United States outside of Eleventh Hour Inc.'s present
markets.
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 16th day of
February, 1998.
By: /s/ Cory J. Coppage
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Cory J. Coppage
Secretary and Treasurer
Dated: February 16, 1998