-----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, JYVOdlEg4vwZFRfJgfw443haTMEU0AT5/pysVagI538m7FPvQJQOP5PeOXHOVQ5v EoNCNmpHgtLyIkYvA48u6w== 0001077048-99-000018.txt : 19990505 0001077048-99-000018.hdr.sgml : 19990505 ACCESSION NUMBER: 0001077048-99-000018 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19990504 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19990504 FILER: COMPANY DATA: COMPANY CONFORMED NAME: KOWTOW INC CENTRAL INDEX KEY: 0000894501 STANDARD INDUSTRIAL CLASSIFICATION: BLANK CHECKS [6770] IRS NUMBER: 870434297 STATE OF INCORPORATION: NV FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 033-55254-18 FILM NUMBER: 99609927 BUSINESS ADDRESS: STREET 1: 4505 W HACIENDA AVE STREET 2: UNIT I 1 CITY: LAS VEGAS STATE: NV ZIP: 89118 BUSINESS PHONE: 8014857775 MAIL ADDRESS: STREET 1: 3098 S HIGHLAND DR STE 460 CITY: SALT LAKE CITY STATE: UT ZIP: 84106 8-K 1 UNITED STATES 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 Commission file number33-55254-18 AFFORDABLE HOMES OF AMERICA, INC. (Exact name of registrant as specified in charter) NEVADA 87-0434297 (STATE OF OTHER JURSDISTION (I.R.S. Employer INCORPORATION OR ORGANIZATION) Identification number) 4505 W. Hacienda Ave. Unit I-1 Las Vegas, Nevada 89118 (Address of Principal Executive Office) (Zip Code) 702-579-4800 (Registrant's Telephone Number, Including Area Code) Page Two Item No 1 Changes in Control of Registrant No events to report Item No 2 Acquisition or Disposition of Assets Affordable Homes of America, Inc. ("Affordable") acquired M.P. Hall Enterprises, Inc. ("M.P.Hall"), on April 27, 1999. The acquisition of M. P. Hall was accomplished by the issuance of convertible preferred shares at strike price of $5.50 per share. The total purchase price of M. P. Hall was $550,000.00. By agreement, once the strike price is reached, 20,000 shares per quarter can be sold in the public market. Affordable will assume debt in the amount of $375,000. M. P. Hall assets consist of a motel site located near the front gates of McCord AFB and Ft. Lewis Army Base. The site is appraised for $930,000.00 "as is". Affordable plans to build a 55 unit Ramada Inn on the site. All plans and permits have been approved and sewer and water hook-up have been paid. Application has been made for the construction and development loan. Construction is expected to take 6 months to complete. The estimated gross revenues are $879,285.00 per year. Affordable Homes of America, Inc. ("Affordable") acquired Composite Industries, Inc. ("Composite") on April 28, 1999. The acquisition was accomplished by exchanging one share of Affordable's common stock for two shares of Composite's common stock. All stock issued by Affordable pursuant to this acquisition is restricted. Under the terms of the Agreement, Composite will merge with Affordable and Affordable will be the surviving entity. Affordable, pursuant to the merger, now owns the patents formerly owned by Composite. The patents cover a construction material called "Z Mix". Z Mix is a building material lighter and stronger than cement that can be used in home construction instead of cement or drywall. Affordable also acquired the plans for a "World Home" and a "U. S. Home" made from this material. These plans have been certified by Larson Engineering, Inc. as earthquake resistant in all four seismic regions in the world. Larson Engineering, Inc. also certified that houses built from these materials are able withstand hurricane winds up to 150mph. Affordable believes that use of Z Mix will permit it to construct lower cost housing at substantially less than its present cost for such housing. Z Mix can also be used in the manufacture of utility poles, railroad ties, pallets with substantial savings in the manufacturing cost of these items. Affordable believes that the use of Z Mix will broaden its market and increase its profitability. Page Three Item No. 3 Bankruptcy or Receivership No events to report Item No. 4 Changes in Registrant's Certifying Accountants No events to report Item No. 5 Other Events No events to report Item No. 6 Resignation of Registrant's Directors No events to report Item No. 7 Financial Statements, Proforma Financial Information and Exhihits Updated financial statements will filed by amended 8-K as soon as finished by the auditors. SIGNATURES Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. AFFORDABLE HOMES OF AMERICA, INC. By: /s/ Merle Ferguson Dated: May 4, 1999 ------------------------------- Merle Ferguson, President By: /s/ Susan Donohue Dated: May 4, 1999 ------------------------------ Susan Donohue, Secretary -----END PRIVACY-ENHANCED MESSAGE-----