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
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Date of Report (date of earliest event reported) October 9, 1998
Pacesetter Ostrich Farm, Inc.
(exact name of registrant as specified in its charter)
Delaware 1-11282 72-1186845
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(State or other jurisdiction or (Commission File Number) (IRS Employer
incorporation) Identification No.)
10135 Hereford Road, Folsom, Louisiana 70437
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(Address of principal executive offices, including zip code)
Registrant's telephone number, including area code (504) 796-5806
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Not Applicable
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(Former name or former address, if changed since last report)
Item 2. Acquisition or Disposition of Assets
On August 28, 1998 the Company entered into a sale of its Arizona farm property
for a total of $422,600. The purchaser, Mr. Richard Small, is an independent
purchaser with no financial or other interests in or relationship to the
Company. The transaction represents a cash sale with no financing between the
Company and the purchaser. The purchaser and the Company have agreed that all
removal of assets owned by the Company and any other personal property not
included in the sale will be completed on or before November 28, 1998.
On September 28, 1998, the Company acquired equipment from Vermeer Equipment
Corporation totaling $272,850, for $75,000 cash down payment with the balance
financed by Case Credit Corporation at 10.5% per annum in 48 equal monthly
installments beginning November 1, 1998. As a result of this purchase, the
Company expects to begin operations which include sub-contract construction
services for directional boring during the fourth calendar quarter of 1998.
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SIGNATURE
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.
Pacesetter Ostrich Farm, Inc.
By: /s/ Walter Reid Green, Jr.
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Walter Reid Green, Jr.
Chief Financial & Accounting Officer
Dated: October 13, 1998
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