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, 2001
CathayOne, Inc.
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(Exact Name of Registrant as Specified in Charter)
Delaware
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(State or Other Jurisdiction of Incorporation)
000-29865
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(Commission File Number)
13-4140336
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(I.R.S. Employer Identification No.)
2100 Pinto Lane - Las Vegas, Nevada 89106
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(Address of Principal Executive Offices) (Zip Code)
(702) 378-6864
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(Registrant's Telephone Number, Including Area Code)
This current report on Form 8-K is filed by CathayOne, Inc., a Delaware
corporation (the "Registrant"), in connection with the matters described herein.
ITEM 3. BANKRUPTCY OR RECEIVERSHIP
On June 15, 2001, The registrant filed a voluntarily Chapter 11 petition in the
United States Bankruptcy Court for the Southern District of New York, Case No.
01-41726(cb). The registrant is continuing as a debtor in possession with its
prior management, except as noted in Item 6, pursuant to Section 1107 of Title
11 of the United States Code. The Company intends to file a plan of
reorganization as provided by Chapter 11 of the United States Bankruptcy Code as
soon as practicable.
CathayOne does not intend to continue its existing business. The Company views
the maximization of value to be as a "corporate shell." The Company therefore
intends to proceed as expeditiously as possible to resolve outstanding
liabilities and obtain a funding source or investor so that it can emerge from
bankruptcy as a clean corporate shell, and therefore maximize value for its
constituents.
ITEM 6. RESIGNATION OF REGISTRANT'S DIRECTORS
Phillip Lee Flaherty announced his resignation as Chairman, Treasurer and
Director of Cathayone, Inc., as well as his position as Chief Executive Officer
of its subsidiary, Cathay Entertainment Ltd.
The Board extends to Mr. Flaherty every best wish and good fortune in any of
his future efforts and endeavors.
Mr. Flaherty did not note any disagreements with management at the time of his
resignation.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits
The exhibits listed in the Exhibit Index filed as part of this report are filed
as part of or
are included in this report.
SIGNATURES
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Pursuant to the requirements of the Securities Exchange Act of 1934, as amended,
the
Registrant has duly caused this report to be signed on its behalf by the
undersigned
hereunto duly authorized.
CATHAYONE, INC.
(Registrant)
/S/ David Cooperberg
By: David Cooperberg, President
/S/ Peter Lau
By: Peter Lau, CEO
EXHIBIT INDEX
Exhibit
Number Description
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99.1 Press Release
99.2 Phillip Flaherty Resignation Letter