SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES AND EXCHANGE ACT OF 1934 DATE OF REPORT June 26, 2001 Rhino Enterprises Group, Inc., A Nevada Corporation Nevada 88-0333844 (State or other jurisdiction of (I.R.S. Employer Incorporation or organization) identification No.) 2925 LBJ Freeway, Suite 188 Dallas, TX 75234 (972) 241-2669 -1- Effective June 21,2001, the Rhino Enterprises Group, Inc. (OTCBB: RHNO) Board of Directors has approved a reduction in the per share exercise price on 25,000 options issued to Jay Chung, Consultant to Rhino and affiliate to Donner Corp. International. The Board unanimously agreed to reduce the exercise price on Mr. Chung's options from $1.25 per share to $0.80 per share. Mr. Chung's options were previously granted in accordance with a Consulting Agreement dated May 1, 2001. -2- SIGNATURES In accordance with the requirements of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Rhino Enterprises Group, Inc. (Registrant) Date: June 26, 2001 By:/S/ DANIEL H. WEAVER -------------------------------- Daniel H. Weaver Chief Financial Officer and duly authorized officer -3-