sec document
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): April 26, 2002
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SPORTING MAGIC, INC.
(Exact name of registrant as specified in its charter)
Delaware 0-25247 95-4675095
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
7625 Hamilton Park Drive, Chattanooga, Tennessee 37421
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Address of principal executive offices
Registrant's telephone number, including area code: 423-296-8213
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6430 Cobble Lane, Harrison, Tennessee 37341
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(Former name or former address, if changed since last report.)
Item 5. Other Events and Regulation FD Disclosure.
On April 26, 2002, holders of a majority of the shares of (i) the
outstanding Series A Preferred Stock (the "Preferred Stock") of Next, Inc., a
majority owned subsidiary of the registrant (the "Company"), and (ii) the
Preferred Stock and Common Stock of the Company, voting as a single class, voted
to amend the Certificate of Designation of the Preferred Stock in order to: (1)
consummate a 700 for one reverse stock split, (2) eliminate all voting rights
attached to the Preferred Stock, (3) decrease the liquidation preference of the
Preferred Stock from $1.00 per share to $.001 per share and (4) eliminate the
right of each share of Preferred Stock to receive an annual dividend of $.10 per
share.
SIGNATURE
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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.
SPORTING MAGIC, INC.
Dated: April 29, 2002 By: /s/ Dan Cooke
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Dan Cooke, President
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