U.S. 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):    January 6, 2003




                                   SHAFT, INC.
                 (Name of small business issuer in its charter)


      Nevada                        000-31783                   870660287
- --------------------                ---------                   ----------
State or jurisdiction               Commission                I.R.S.Employer
of incorporation or                 file                      Identification
organization                        number                    No.


20 Old Turnpike Road, Nanuet, NY                              10954
- --------------------------------                              ----------
Address of principal executive offices                        Zip Code


                                 (845) 623-6888
                                 --------------
                 Issuer's Telephone Number, Including Area Code

*Former address of principal executive offices have changed since last report.
The former address was 1981 Murray Holladay Rd., Salt Lake City, UT 84117.






ITEM 2.  ACQUISITION OR DISPOSITION OF ASSETS

     On January 6, 2003,  Shaft,  Inc., a Nevada  corporation  (the  "Company"),
consummated the acquisition (the "Acquisition") of all of the outstanding shares
of Elegant  Concrete  Technologies,  Inc., a New York  corporation  ("Elegant"),
pursuant to an Agreement and Plan of Reorganization  (the "Agreement") among the
Company, Elegant, and the shareholders of Elegant ("Shareholders").

     Elegant is a privately held  corporation that intends to engage in business
that involves  engraving  permanent  patterns into existing  concrete mostly for
exterior  floors and patios.  The  engraved  patterns  look like tile,  but cost
significantly  less. Elegant is a developmental  stage company,  organized under
the laws of the State of New York on April 3, 2002.  It  recorded  approximately
$200,000 in net sales from inception through November 30, 2002. Elegant intends,
within the next year, to open operations first in the New York City metropolitan
region, and then in other cities throughout the country. Such expansion is based
on the ability of Elegant to obtain the necessary  financing,  however there are
no assurances that such financing can be obtained.

     The principal assets of Elegant as of November 30, 2002 consisted of $1,000
in  cash  or  cash  equivalents;  $1,500  of  accounts  receivables;  $1,000  in
inventories;  and  loans to  officers.  Elegant  had  approximately  $60,000  in
liabilities as of November 30, 2002.

     The Company  delivered at the closing (the  "Closing")  of the  Acquisition
500,000  restricted shares of its common stock in exchange for 167 2/3 shares of





Elegant common stock,  which represents all of the outstanding  shares of common
stock  of  Elegant,  par  value  $1.00,  in what is  intended  to be a  tax-free
reorganization.  The Company made certain  representations and warranties in the
Agreement,  which were  confirmed by the officers and  directors of the Company.
The Company paid no separate consideration for such confirmation.  Also pursuant
to the  Acquisition,  the  shareholders,  directors  and officers of the Company
contributed 208,755 shares of common stock of the Company as capital.  After the
Acquisition,  the  Company  now has 994,000  shares of common  stock  issued and
outstanding.

     The Board of Directors of the Company approved a forward stock split of the
Company's common stock, par value $.001 per share ("Common Stock"), whereby each
outstanding  share of Common Stock will be combined,  converted and changed into
ten shares of Common  Stock.  The Board of Directors  approved the forward stock
split on January 6,  2003,  and such a split  shall  become  effective  upon the
record  date to  shareholders.  Stockholders  of record on the  record  date are
entitled  to receive  ten  shares of Common  Stock for every one share of Common
Stock which are held as of the record date.  After the stock split,  the Company
will have 9,940,000 shares of common stock issued and outstanding.

     The  Company  plans to enter into  Employment  Agreements  with the current
Chief Executive Officer and Chief Financial Officer of Elegant,  who have become
the  Chief  Executive  Officer  and  Chief  Financial  Officer  of the  Company,
respectively.  Such officers were shareholders of Elegant, who received together
325,000 shares of the exchange consideration.





     The amount of  consideration  paid by the  Company  as set forth  above was
determined by arms-length negotiations between the parties involved. During such
negotiations,  the parties considered,  among other things, the present stage of
development  of the business and  operations  of Elegant,  the  condition of its
assets,  its  financial  condition,  the market for its  products and its future
business  prospects.  Further,  as a result of the  Acquisition,  the  Company's
principal  place of business  has changed to 20 Old  Turnpike  Rd.,  Nanuet,  NY
10954.

ITEM 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT

     (a) (1) The  Registrant  has  decided  not to engage  Andersen  Andersen  &
Strong, L.C. ("Andersen") to serve as the Company's  independent  accountant for
the audit of its financial statements for the year ended December 31, 2002.

         (2) Andersen's  reports on the Registrants'  financial  statements for
the past two years did not contain an adverse  opinion or disclaimer of opinion,
nor were they qualified or modified as to uncertainty, audit scope or accounting
principles.

         (3)  The decision not to engage Andersen as its independent  accountant
was made by the Registrant's Board of Directors on January 6, 2003.






         (4) In connection with the audits for the two most recent fiscal years
and  through  the  effective  date  of  the   dismissal,   there  have  been  no
disagreements with Andersen on any matter of accounting principles or practices,
financial  statement   disclosure,   or  auditing  scope  or  procedure,   which
disagreements,  if not  resolved to the  satisfaction  of  Andersen,  would have
caused  Andersen  to make  reference  thereto in its report on the  Registrants'
financial statements.

     (b) (1) The Registrant  intends to engage the firm of Sacher & Co., P.C. to
serve as the Registrant's independent accountant for fiscal year 2002.

         (2)  The  decision  to  engage  Sacher  & Co.,  P.C.  to  serve  as the
Registrant's  independent  accountant  for  fiscal  year  2002  was  made by the
Registrant's Board of Directors on January 6, 2003.

         (3) At no time  during the  Registrant's  fiscal  years 2001 or 2002 or
since has the Registrant or anyone acting on the  Registrant's  behalf consulted
with Sacher & Co., P.C.  regarding (a) the application of accounting  principles
to a specified transaction; (b) the type of audit opinion that might be rendered
on the Registrant's financial statements; or (c) any matter that was the subject
of  a  disagreement  as  defined  in  Section   304(a)(1)(iv)  and  its  related
instructions  of Regulation  S-K, or a reportable  event as described in Section
304(a)(1)(v) of Regulation S-K.




ITEM 6.  RESIGNATION OF REGISTRANT'S DIRECTORS

     Alan  Hillsberg and Anthony  Costanzo have been  appointed to, and shall be
the sole members of, the Board of Directors of the Company. Mr. Hillsberg is the
President and founder of Elegant,  while Mr.  Costanzo has been  associated with
PTI Holding, Inc. for eight years, the last four years serving as that company's
Chief Financial Officer.

     Pursuant to the  Agreement,  Jennifer  Harris has resigned as a director of
the Company.  Ms. Harris resigned  because she indicated that it would be in the
best interests of the Company to have new directors due to the Acquisition.

ITEM 7.  Financial Statements, Pro Forma Financial Statements and Exhibits

     (a)  Financial Statements.

          In accordance with Item 7(a)(4),  the financial statements required by
          Item 7(b) are not  included in this report.  The Company  expects that
          such  financial  statements  will be filed  within the 60--day  period
          provided by Item 7(a)(4).

     (b)  Pro-Forma Financial Information.

          In accordance with Item 7(a)(4),  the financial statements required by
          Item 7(b) are not  included in this report.  The Company  expects that
          such  financial  statements  will be filed  within the 60--day  period
          provided by Item 7(a)(4).

     (c)  Exhibits.

          Exhibit No.      Description
          ----------       -----------

             1             Agreement  and Plan of  Reorganization  dated
                           January 3, 2003,  by and among the  Company, Elegant,
                           and the Shareholders.






                                    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 duly authorized.

Dated: January 6, 2003

                                            SHAFT, INC.

                                            By:   /S/ Alan Hillsberg
                                                  ----------------------
                                            Name: Alan Hillsberg
                                            Its:  President









January 6, 2003

Office of the Chief Accountant
SECPS Letter File
Securities and Exchange Commission
Mail Stop 11-3
450 Fifth Street, N.W.
Washington, D.C. 20549


Dear Sir/Madam:

We have read the statements made in Item 4, to be included in the Form 8-K filed
by Shaft,  Inc.,  dated  January 6, 2003,  to be filed with the  Securities  and
Exchange Commission and are in agreement with the statements contained therein.

         Very truly yours,




         Andersen Andersen & Strong, L.C.

         By:   /S/ Rex Andersen
               ---------------------------
         Name: Rex Andersen
         Its:  Partner