FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934

Date of Report: April 12, 2001
(date of earliest event reported: March 31, 2001)

Commission File Number: 000-27079

Nicole Industries, Inc.
(Exact name of Registrant as specified in its charter)

Delaware 68-0422343
(State or Other Jurisdiction of Incorporation)
(I.R.S. Employer Identification No.)

83-888 Avenue 51, Coachella, California 92236
(Address of principal executive offices and zip code)

Registrant’s telephone number: (760) 398-9700

Item 5. Other Events

Registrant’'s ~~Board~~fiscal ofyear ended on December 31, 2000. Registrant was required to file its Annual Report on Form ~~Directors~~10-K ~~approved~~on or before March 31, 2001. Registrant timely filed a ~~one~~Notification of Late Filing on Form 12b-~~for-ten~~25 ~~(1:10)~~and stated ~~reverse~~that ~~split~~it ofwould not be able to file its ~~outstanding~~Annual ~~shares of~~Report ~~Common~~on ~~Stock.~~Form ~~The~~10-K ~~reverse~~on ~~stock~~or ~~split~~before ~~was~~March ~~effective~~31 ~~for~~and ~~shareholders~~that ofit would ~~record~~undertake asto offile ~~November~~the ~~27,~~Report ~~2000~~within (fifteen days after the ~~“Record~~due ~~Date”)~~date. Because Asof adifficulties ~~result~~in ofpreparing the ~~such~~consolidated ~~reverse~~financial ~~stock~~statements ~~split~~for Registrant and its majority owned operating subsidiary, ~~every~~Aluko ~~ten~~Co. (Ltd, a Korean corporation, Registrant has not been able to complete and file its Annual Report on Form 10)-K ~~shares~~within such 15-day period. The difficulties that Registrant encountered in connection with the preparation of such consolidated financial statements could not be eliminated without unreasonable effort or expense. The difficulties arose primarily because Registrant’'s ~~Common~~fiscal year ended on December 31, 2000 while Aluko's fiscal ~~Stock~~year ~~outstanding~~ended on June 30, 2000. Because of the ~~Record~~difference ~~Date~~in ~~was~~the ~~converted~~fiscal ~~into~~year ~~one~~ends, ~~(1)~~the ~~share~~consolidation ofwas ~~its~~unduly ~~Common Stock~~complicated. In Noaddition, ~~fractional~~Registrant ~~shares~~encountered ~~were~~unanticipated ~~issued~~difficulties asrelating ato ~~result~~the coordination of ~~the~~U.S. generally ~~reverse~~accepted ~~stock~~accounting principles (applicable to Registrant) and Korean generally accepted accounting ~~split.~~principles (applicable to Aluko).

~~Concurrently with the reverse stock split described above,~~ Registrant ~~increased~~undertakes ~~the authorized number of shares of its capital stock~~ to ~~30,000,000~~file shares, consisting of 25,000,000 shares of Common Stock, $0.01 par value per share, and 5,000,000 shares of undesignated Preferred Stock, $0.01 par value per share. The Board of Directors is authorized to issue the ~~shares~~Annual ofReport ~~Preferred Stock in one or more series~~ and to ~~determine and alter~~ the ~~rights,~~consolidated ~~preferences~~financial ~~privileges~~statements ~~and~~as ~~restrictions granted~~quickly toas ~~or imposed upon a wholly unissued series of Preferred Stock~~possible.

~~Pursuant~~Because toRegistrant ~~the requirements~~has ofnot ~~the~~timely ~~Securities~~filed ~~Exchange~~its ~~Act~~Annual ofReport ~~1934,~~on ~~the~~Form 10-K, Registrant's ~~has~~shareholders ~~duly~~may not ~~caused~~publicly ~~this~~resell ~~report~~shares toof beRegistrant's ~~signed~~capital onstock ~~its~~pursuant ~~behalf~~to byRule ~~the undersigned thereunto duly authorized~~144.

SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf on April 12, 2001, by the undersigned, thereunto duly authorized.

NICOLE INDUSTRIES, INC.
(Registrant)
April 12, 2001
/s/ Ju Young Park
Ju Young Park, President
(signature)

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