Codestream Holdings Inc – ‘8-K’ for 1/17/97

As of:  Monday, 5/19/97   ·   For:  1/17/97   ·   Accession #:  944543-97-39   ·   File #:  33-25779

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Current Report   —   Form 8-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 8-K         Current Report                                         4     15K 

Document Table of Contents

8-K
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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                 

January 17, 1997                  
Date of Report (date of earliest event reported)                

BUD FINANCIAL GROUP, INC.                 
(Exact Name of Registrant as Specified in its Charter)                

Colorado                   33-25779          84-1100609         
(State or other jurisdiction    Commission File    I.R.S. Employer              
of incorporation or organization)  Number)      Identification No.)             

1036 Oakhills Way, Salt Lake City, Utah 84108                 
(Address of principal executive office)                 

(801) 582-1733                
(Registrant's telephone number,                 
including area code)                

33806 North 70th Way, #BH-36 Scottsdale, Arizona 85377                
(Former Name or Former Address, if Changed Since Last Report)                 

8-K
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Item 1.   Changes in Control of Registrant                                      

On  June 10, 1996, Larry E. Clark sold 1,415,000 shares  of         
Company common stock to a group of individuals which included Jay               
S.  Hoffman,  T.L.  "Thom" Holmes, Steven E. Trabish  and  Ronald               
Conquest.  The shares sold represented approximately 79%  of  the               
total  shares  of  the  Company's Common Stock  then  issued  and               
outstanding.  The Company did not issue any new shares as part of               
the transaction.  The transaction resulted in a change in control               
of The Bud Financial Group, Inc.                                                

Subsequently, on January 17, 1997, the above listed  buyers         
were unable to perform their payment obligations under the terms                
of the  purchase agreement and the June 10, 1996 sales agreement                
was  rescinded  by  mutual  agreement  of  seller  and   buyers.                
Thereupon Ronald Conquest, T.L. "Thom" Holmes and John  H.  Berry               
resigned  as officers and directors and Larry E. Clark, Jacquelyn               
Clark and Michael Clark were appointed as directors and Larry  E.               
Clark,  and  Jacquelyn  Clark  were  appointed  President   and                 
Secretary/Treasurer, respectively.                                              

The following tabulates holdings of Common Shares of The Bud          
Financial  Group,  Inc.  held  by  all  Directors,  Officers  and               
Principal Shareholders, individually and as a group.                            

Number of Shares  
Names and Addresses of         of Common Stock      Percent of                  
Officers and Directors             Owned(1)         Common Stock                

Thomas L. McCrimmon               150,000                  8%                   
3816 West Linbaugh, #408                                                        
Tampa, Florida 33624                                                            

Larry E. Clark                  1,515,000                 85%                   
1036 Oakhills Way                                                               
Salt Lake City, Utah 84108                                                      

Item 5.   Other Events                                                          

Change in Management                                                  

Effective  January 17, 1997, a new Board of  Directors  was         
appointed to serve until the next annual meeting of Shareholders.               

8-K
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The new directors are Larry E. Clark, Jacquelyn Clark and Michael               
Clark.                                                                          

Effective January 17, 1997, new officers were appointed  by         
the new Board of Directors to serve until the next annual meeting               
of shareholders.  The new officers are:                                         

Larry E. Clark, President               
Jacquelyn Clark, Secretary/Treasurer    

Change in Address and Telephone Number                                

Effective  January  17,  1997, the Company's  new  business         
address is, 1036 Oakhills Way, Salt Lake City, Utah 84108.                      

Effective  January  17,  1997, the Company's  new  business         
telephone and fax number is; (801) 582-1733.                                    

Change of Counsel                                                     

Effective January 17, 1997, the Company appointed new legal         
counsel which is the firm of Thomas G. Kimble & Associates, whose               
business address is 311 South State Street, Suite 440, Salt  Lake               
City, Utah 84111.                                                               

Item 6.   Resignation of Registrant's Directors                                 

As a result of the change in control set forth herein above         
the former Directors of the Company; T.L. "Thom" Holmes, John  H.               
Berry  and Ronald Conquest resigned as officers and directors  of               
the  Company  effective January 17, 1997.  None of the  Directors               
referenced  herein  resigned because of a disagreement  with  the               
Registrant on any matter.                                                       

8-K
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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,  thereunto   duly               
authorized:                                                                     

                   THE BUD FINANCIAL GROUP, INC.

Date:  May 12, 1997               By:  /s/  Larry  E.  Clark                    
                       Larry E. Clark, President

Dates Referenced Herein   and   Documents Incorporated by Reference

				Referenced-On Page
This ‘8-K’ Filing		Date		First		Last			Other Filings
Filed on:		5/19/97							10KSB,  10QSB
		5/12/97		4
For Period End:		1/17/97		1		3
		6/10/96		2					8-K
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