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): August 16, 2004
GIANT MOTORSPORTS, INC.
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(Exact name of Registrant as specified in its charter)
Nevada 000-50243 33-1025552
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(State of Incorporation (Commission File No.) (IRS Identification
or Other Jurisdiction) Number)
13134 State Route 62, Salem, Ohio 44460
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(Address of principal executive offices)
(330) 332-8534
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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 5. Other Events.
Effective August 16, 2004, Russell A. Haehn, the Company's
Chairman, Chief Executive Officer and Secretary and Gregory A.
Haehn, the Company's President, Chief Operating Officer and
Treasurer, were each granted options to purchase shares of the
Company's common stock, $.001 par value per share (the "Common
Stock"). Mr. Russell Haehn was granted an option to purchase up
to 1,000,000 shares of Common Stock and Mr. Gregory Haehn was
granted an option to purchase up to 500,000 shares of Common
Stock. The exercise price applicable to both of these options is
$1.25 per share, and both options are exercisable in their
entirety through and until August 15, 2009. The options provide
for anti-dilution protection in the event of a recapitalization
of the Common Stock by a combination or split up of such shares,
a dividend payable in shares of Common Stock, or the merger,
combination or consolidation of the Company with another entity.
Both options also provide for the Company to use its best efforts
to register the shares of Common Stock underlying the options on
or before August 16, 2005, on a Form S-8 Registration Statement,
if such registration is available.
The options granted to the Company's two executive officers
were authorized by the unanimous written consent of the Company's
board of directors.
Item 7. Financial Statements and Exhibits.
Exhibits
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The following exhibits are filed herewith:
Exhibit Number Exhibit
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4.2 Stock Option Agreement - Russell A. Haehn -
August 16, 2004
4.3 Stock Option Agreement - Gregory A. Haehn -
August 16, 2004
SIGNATURES
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.
GIANT MOTORSPORTS, INC.
By: /s/Gregory A. Haehn
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Gregory A. Haehn
President
Dated: As of August 17, 2004