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
DATE OF REPORT: JANUARY 16, 2002
CHAMPIONS SPORTS, INC.
----------------------
(Exact Name of Registrant as specified in its charter)
(
Delaware 0-17263 52-1401755
-------------- --------------------- ------------
(State or other (Commission File No.) (I.R.S. Employer
jurisdiction of Identification No.)
incorporation)
2420 Wilson Boulevard, Suite 214, Arlington VA 22201
----------------------------------------------------
(Address of principal executive offices) (Zip Code)
(703)-526-0400
--------------
(Registrant's telephone number, including area code)
ITEM 5. OTHER EVENTS. On January 15, 2002, Champions Sports, Inc. entered
into an agreement with a private investor, JMS New York, Inc. to purchase, from
the Company, 4,000,000 shares of the Company's common restricted stock at a
purchase price of $0.125 per share in the aggregate amount of $500,000 payable
in 24 equal monthly installments to be used by the Company to provide general
working capital. Statements contained or incorporated by reference in this
Current Report on Form 8-K contain "forward-looking statements" (within the
meaning of the Private Securities Litigation Reform Act of 1995) that inherently
involve risks and uncertainties. All statements other than statements of
historical information provided herein may be deemed to be forward-looking
statements. The Company's actual results could differ materially from those
anticipated in these forward-looking statements as a result of unforeseen
external factors. There can be no assurance that the conditions necessary to
completing any prospective event will occur. Investors are cautioned not to
place undue reliance on these forward-looking statements, which reflect
management's analysis, judgment, belief or expectation only as of the date
hereof. The Company undertakes no obligation to publicly revise these
forward-looking statements to reflect events or circumstances that arise after
the date hereof.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(a) Financial Statements: None
(b) Pro Forma Financial Statements: None
(c) Exhibits. The following exhibit is filed with this Report
Exhibit No. Description
------------ -------------
1-A News Release of Champions Sports, Inc.
dated January 15, 2002
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this Current Report on Form 8-K to be signed on its
behalf by the undersigned hereunto duly authorized.
CHAMPIONS SPORTS, INC.
Date: January 16, 2002 By: /s/ James Martell
----------------------------------
James Martell
President and Chief Executive Officer
EXHIBIT INDEX
Exhibit No. Description
1-A * News release of Champions Sports, Inc.
dated January 15, 2002
-------------------------
* filed with this Report
FOR IMMEDIATE RELEASE
CHAMPIONS SPORTS, INC. ANNOUNCES FINANCING TRANSACTION
Arlington, Virginia, January 15, 2002. Champions Sports, Inc. (OTC Symbol -
CSBR), a licensee of CHAMPIONS Sports Bar Restaurants and an exclusive supplier
of sports memorabilia and a consultant to all new managed Marriott and
Renaissance Hotel Sports Bar/Restaurants worldwide, today announced that it has
entered into an agreement with a private investor to purchase, from the Company,
4,000,000 shares of the Company's common restricted stock at a purchase price of
$0.125 per share in the aggregate amount of $500,000 in 24 monthly payments to
be used by the Company to provide general working capital.
This press release contains "forward-looking statements" (within the
meaning of the Private Securities Litigation Reform Act of 1995) that inherently
involve risks and uncertainties. All statements other than statements of
historical information provided herein may be deemed to be forward-looking
statements. The Company's actual results could differ materially from those
anticipated in these forward-looking statements as a result of unforeseen
external factors. There can be no assurance that the conditions necessary to
completing any prospective event will occur. Investors are cautioned not to
place undue reliance on these forward-looking statements, which reflect
management's analysis, judgment, belief or expectation only as of the date
hereof. The Company undertakes no obligation to publicly revise these
forward-looking statements to reflect events or circumstances that arise after
the date hereof.
CONTACT: James Martell 703-526-0400