SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 and 15(d) of the
Securities Exchange Act of 1934
Date of Report (date of earliest event reported):
August 20, 2002 (August 19, 2002)
CRESTED CORP.
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Exact Name of Registrant as Specified in its Charter)
Colorado 0-8773 84-0608126
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(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File No.) Identification No.)
Glen L. Larsen Building
877 North 8th West
Riverton, WY 82501
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (307) 856-9271
Not Applicable
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(Former Name, Former Address or Former Fiscal Year,
if Changed From Last Report)
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ITEM 5. OTHER EVENTS
As previously reported last year, the United States District Court of
Colorado appointed a Special Master to determine the amounts, if any, owed by
Nukem and CRIC to Sheep Mountain Partners ("SMP"), a partnership owned 50% by
Nukem/CRIC, 25% by the registrant, and 25% by its parent U.S. Energy Corp.,
pursuant to the constructive trust previously impressed in favor of SMP upon
Nukem's rights to purchase CIS uranium, the uranium acquired pursuant to those
rights, and the profits therefrom. For background information on this
litigation, see the registrant's Form 10-K for fiscal year ended May 31, 2001.
On August 19, 2002, the Special Master ordered that Nukem and CRIC shall
provide registrant (and its parent U.S. Energy Corp.) monthly reports, beginning
January 1, 2002 and continuing forward, in which the following data shall be
provided:
1. The total amount of uranium acquired by Nukem and CRIC and their
affiliates according to the CIS contracts and the source of the
acquired uranium; and
2. The purchase price of all uranium acquired according to the CIS
contracts and the sales price of that uranium.
The Court has set August 23, 2002 for a further status hearing on the
accounting being prepared by the Special Master.
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.
CRESTED CORP.
Dated: August 20, 2002 By: /s/ Daniel P. Svilar
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DANIEL P. SVILAR, Secretary
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