-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, PK+Ws9VnjKEIi3+HiP5o6ujldjMOM1lwAfxGogQrrWKDQi3wtsjoNSzOS7+cBcmN Abd0Xg75vVwkpKOVUqwW4Q== 0001010549-02-000370.txt : 20020614 0001010549-02-000370.hdr.sgml : 20020614 20020614100130 ACCESSION NUMBER: 0001010549-02-000370 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20020613 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20020614 FILER: COMPANY DATA: COMPANY CONFORMED NAME: KARTS INTERNATIONAL INC CENTRAL INDEX KEY: 0001010077 STANDARD INDUSTRIAL CLASSIFICATION: GAMES, TOYS & CHILDREN'S VEHICLES (NO DOLLS & BICYCLES) [3944] IRS NUMBER: 752639196 STATE OF INCORPORATION: NV FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-23041 FILM NUMBER: 02678809 BUSINESS ADDRESS: STREET 1: 62204 COMMERCIAL STREET STREET 2: PO BOX 695 CITY: ROSELAND STATE: LA ZIP: 70456 BUSINESS PHONE: 5047471111 MAIL ADDRESS: STREET 1: 62204 COMMERCIAL STREET STREET 2: P O BOX 695 CITY: ROSELAND STATE: LA ZIP: 70456 8-K 1 karts8k061302.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 Form 8-K Current Report Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934 Date of Report: June 13, 2002 ------------- Karts International Incorporated (Exact name of small business issuer as specified in its charter) Commission File Number: 0-23041 ------- Nevada 75-2639196 - ------------------------ ------------------------ (State of incorporation) (IRS Employer ID Number) 509 Industrial Park Drive, Hammond, LA 70401 -------------------------------------------- (Address of principal executive offices) (985) 419-5120 (Issuer's telephone number) Item 5 On June 13, 2002, Karts International Incorporated announced that it was served a Notice of Demand on June 10, 2002 for payment for the May 17, 2000 $2,500,000 promissory note agreement with the Schlinger Foundation on June 10, 2002 and that they continued to be financially unable to file their first quarter 10QSB. Item 7 Exhibit 99.1 - Press Release dated June 13, 2002 SIGNATURES In accordance with the requirements of the Securities Exchange Act of 1934, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Karts International Incorporated Dated: June 13, 2002 /s/ Timotheus benHarold ------------- ------------------------ Timotheus benHarold President, Chief Executive Officer Chief Accounting Officer and Director EX-99.1 3 karts8kex991061302.txt PRESS RELEASE DATED JUNE 13, 2002 EXHIBIT 99.1 PRESS RELEASE June 13, 2002 For Immediate Release Contact: Theodore Forrest Phone: 985-419-8120 KARTS INTERNATIONAL INCORPORATED ANNOUNCES RECEIPT OF NOTICE OF DEMAND Hammond, LA - June 13, 2002 The management of Karts International Incorporated, along with the subsidiaries Brister's Thunder Karts, Incorporated (Brister's) and USA Industries, Incorporated (USA) was served Notice of Demand of payment by the Clerk of Court, 21st Judicial District Court, Parish of Tangipahoa, State of Louisiana. The demand concerns a promissory note agreement between the Schlinger Foundation and KII entered into on May 17, 2000. The Notice gives KII, Brister's and USA three (3) days to provide payment of said promissory note. Failure to make this payment will result in a Writ of Seizure and Sale being issued and executed. Karts International, Incorporated is currently reviewing possible avenues for remedy of this situation. As has been noted in recent releases, KII has been attempting to overcome the financial and ethical quagmire it has been placed in by certain former members of management and officers of the company. It is deeply regretted that our continuing effort to improve our relationships with our investors, business partners, and community have been, in our opinion, repeatedly sabotaged by shortsighted attempts to destroy KII and those high values that we seek to represent. Our current financial situation is largely attributable to the undermining of our core values by those former associates and reaffirms to us that their separation from our company has only improved the integrity and honesty of KII. We have sought to move forward as a company and as a member of our community. We are financially unable to file our first quarter 10Q at this time. As always, we place our faith in God and trust in His wisdom to see us through. -----END PRIVACY-ENHANCED MESSAGE-----