**THIS COMPANY DOESN'T EXIST!!!***
HOLLY HOLDINGS, INC.
The Company has not been successful in raising necessary financing or
selling sufficient assets to finance ongoing operations. At the present time,
the Company and its wholly-owned subsidiary have effectively discontinued
operations and is attempting to sell assets to pay outstanding aggregate
indebtedness of approximately $2,000,000. The Company currently has no liquid
assets and is unable to determine whether the sale of any of its investments
will yield any proceeds to satisfy the Company's indebtedness.
Item 6. RESIGNATIONS OF REGISTRANT'S DIRECTORS
William Patrowicz resigned his positions as an officer and director of
the Company.
Pursuant to the requirements of the Securities Exchange Act of 1934,
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
HOLLY HOLDINGS, INC.
By: /s/ William Patrowicz
William Patrowicz, President and Director
Date: March 12, 1998
HOLLY HOLDINGS, INC.
Exact name of registrant as specified in its charter
New Jersey 1-12668 22-3172149
State of other jurisdiction of Commission File No. I.R.S. Employer
incorporation or organization ID No.
200 Monument Road, Suite 10, Bala Cynwyd, Pennsylvania 19004
(Address of principal executive offices)
Registrant's telephone number, including area code:(610) 617-0400
N/A
(Former name or former address if changed since last report)
<PAGE>
Item 5. OTHER INFORMATION
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