UNITED STATES
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 reported) May 17, 2002
Commission File Number 0-28555
VOLT INC,
NEVADA 86-0960464
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(State or Other Jurisdiction of (I.R.S. Employer
Incorporation or Organization) Identification Number)
5009 Indian Gulch Road, Catheys Valley CA 95306 95306
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(Address of Principal Executive Offices) (Zip Code)
209-374-3485
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(Registrant's Telephone Number, Including Area Code)
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(Former name or former address, if changed since last report)
Item 1. Changes in Control of Registrant.
Not Applicable
Item 2. Acquisition or Disposition of Assets.
On May 17, 2002 Volt, Inc. (the "Company") acquired all of the stock of
First Washington Financial Corporation, a Nevada corporation ("First
Washington") and thereby acquired control of all of the assets of First
Washington. First Washington is a mortgage loan originator and direct lender in
the home mortgage loan industry and currently concentrates its business in
Washington, D.C., Maryland and Virginia. The Company intends to continue with
First Washington's business and to expand its operations nationwide. The Company
issued two million (2,000,000) restricted shares of its common stock (the
"Acquisition Price") to the shareholders of First Washington in exchange for all
of the issued and outstanding shares of stock of First Washington. The
Acquisition Price was based on the value of First Washington and the market
value of the Company's shares on the date of the acquisition taking into
consideration the fact that the Company issued unregistered restricted shares in
exchange for all of the shares of First Washington. Prior to the acquisition,
Denis Tseklenis, the President, chairman of the board of directors and
shareholder of the Company owned twenty-five percent (25%) of the stock of First
Washington. Prior to the acquisition, none of the other shareholders of First
Washington were related to or affiliated with the Company
Item 3. Bankruptcy or Receivership.
Not Applicable
Item 4. Changes in Registrant's Certified Public Accountant.
Not Applicable
Item 5. Other Events and Regulation FD Disclosure.
Not Applicable
Item 6. Resignations of Registrant's Directors.
Not Applicable
Item 7. Financial Statements and Exhibits.
Financial statements relating to the reported event will be filed
within sixty (60) days of the date of the reported event
Item 8. Change in Fiscal Year.
Not Applicable
Item 9. Regulation FD Disclosure.
Not Applicable
SIGNATURE
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 thereunto authorized.
Date: May 30, 2002 VOLT INC.
By: s/s Denis C. Tseklenis
Denis C. Tseklenis, President
and Chief Executive Officer