Grip Technologies Inc – ‘8-K’ for 6/15/99

On:  Friday, 6/18/99   ·   For:  6/15/99   ·   Accession #:  892569-99-1741   ·   File #:  0-08485

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Current Report   —   Form 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

 Date of Report (date of earliest event reported): June 15, 1999

 Commission file number 0-8485

 Grip Technologies, Inc.
--------------------------------------------------------------------------------
(Exact name of Registrant as specified in its charter)

   California                                     95-1980894
--------------------------------------------------------------------------------
(State or other jurisdiction                        (I.R.S Employer   
of incorporation or organization)                    Identification No.)  

10 Corporate Park Suite 130                                       
Irvine, California                                     92606      
--------------------------------------------------------------------------------
(Address of principal executive offices)                    (Zip Code)          

(949) 252-8500
--------------------------------------------------------------------------------
(Registrant's telephone number, including area code)

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(Former name, former address and former fiscal year,
if changed since last report) 

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ITEM 5.  OTHER EVENTS                                                           

     Registrant filed for reorganization under Chapter 11 of the Federal
Bankruptcy Act on June 10, 1999. Registrant has continued to experience severe  
ongoing liquidity problems due to months of declining sales, its inability to   
obtain financing, and the failure to close a certain transaction wherein        
Registrant would have transferred inventory to E-Z Sport Grip Company, Inc. for 
cash and notes. As a result of the foregoing, Registrant has been unable to pay 
certain vendors or to complete Registrant's delinquent filings.                 

  Registrant is preparing a reorganization plan wherein Registrant
intends to outsource all of its manufacturing operations, including the         
lasering, buffing and painting of its golf grips, thereby reducing labor and    
other operating costs to allow Registrant to operate profitably. There is no    
guarantee that the Bankruptcy Court will approve the plan, or that Registrant   
will be able to operate profitably if the plan is approved. Failure to obtain   
Bankruptcy Court approval for the plan of reorganization or failure by          
Registrant to implement a reorganization plan may result in Registrant filing   
for liquidation under Chapter 7 of the Federal Bankruptcy Act.                  

This report includes statements, which may be forward-looking 
statements made pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. These statements are subject to certain risks and
uncertainties that could cause actual results to differ materially from the     
forward-looking statements, including, but not limited to, risks related to the 
golf equipment business in general, and market acceptance of the Registrant's   
product in particular; liquidity issues and constraints affecting Registrant;   
seasonality of the golf equipment business; Registrant's dependence on a few    
major customers; scheduling, delivery and cost of tooling; use of third party   
manufacturers and suppliers; supply delays; and other factors detailed in       
Registrant's other periodic reports on Forms 10-K, 10-Q and 8-K filed with the  
Securities and Exchange Commission. Readers are cautioned not to place undue    
reliance on these forward-looking !statements, which speak only as of the date  
hereof. Registrant undertakes no obligation to republish revised forward-looking
statements to reflect events or circumstances after the date hereof or to       
reflect the occurrence of unanticipated events.                                 

SIGNATURES

 Pursuant to the requirements of the Securities Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the        
undersigned hereunto duly authorized.                                           

                                 GRIP TECHNOLOGIES, INC.
                                             -----------------------------------
                      (Registrant)

Date:  June 15, 1999                                 /s/ Sam G. Lindsay         
                                             -----------------------------------
                                            Sam G. Lindsay
                                           President and
                                             Chief Executive Officer

2 

Dates Referenced Herein

				Referenced-On Page
This ‘8-K’ Filing		Date		First		Last			Other Filings
Filed on:		6/18/99							None on these Dates
For Period End:		6/15/99		1		2
		6/10/99		2
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