content: 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): May 22,1998
  
                            Alydaar Software Corporation
               (Exact name of registrant as specified in its charter)
  
                                   North Carolina
                   (State or Other Jurisdiction of Incorporation)
  
                     0-22325                             87-0399301
            (Commission File Number)       (I.R.S. Employer Identification No.)
  
                  2101 Rexford Road, Suite 250 West, Charlotte, NC 28211 
                (Address and zip code of principal executive offices)
  
                                    704-365-2324
                           (Registrant's telephone Number)
  
  
  
  <PAGE>
  
  
  
  ITEM 5.  Other Matters
  
           At  Registrant's  annual  meeting  held on May 22,  1998,  shareholders
  approved, by the requisite majority, the following proposals:
  
           a. An  increase  in the number of  Directors  from three to five and an
  increase in the number of directorships available to nine.
  
           b. Approval of the 1997 Employee Stock Purchase Plan.
  
           c.  Ratification  and  approval of increases of the number of shares of
  the Company's  Common Stock  available for issuance  under the Alydaar  Software
  Corporation Omnibus Stock Plan.
  
           d. An amendment to the Company's  Articles of Incorporation to increase
  the amount of  authorized  Common  Stock from  20,000,000  shares to  50,000,000
  shares.
  
           e. Ratification of the selection and appointment by the Company's Board
  of  Directors  of Holtz  Rubenstein  & Co.  LLP,  as the  Company's  independent
  certified public accountants and as auditors for the Company for the year ending
  December 31, 1998.
  
  
  
           Shareholders also elected the following directors:
  
                    a.       Robert F. Gruder
  
                    b.       V. Hollis Scott
  
                    c.       Thomas J. Dudchik
  
                    d.       J. Alex McMillan
  
                    e.       John McCarthy
  
  
  
           Also, on May 22, 1998 the Board of Directors  approved the  appointment
  of Frank G. Milligan to serve as the Company's President.  Robert F. Gruder will
  continue to serve as Chairman of the Board and Chief Executive Officer.
  
  
  
                                          2
  
  <PAGE>
  
  
  
  
                                     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.
  
  
  
                                      Alydaar Software Corporation
                                      (Registrant)
  
                                      By: /s/ V. Hollis Scott
                                          V. Hollis Scott, Chief Financial Officer
  
  
  DATED: May 26, 1998
  
                                          3
metadata_documents: [{"type": "8-K", "sequence": "1", "description": "8-K", "secsgml_size_bytes": 3167}]
metadata_filer: {"company-data": {"conformed-name": "ALYDAAR SOFTWARE CORP /NC/", "cik": "0001018336", "assigned-sic": "7372", "irs-number": "870399301", "state-of-incorporation": "NC", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-22325", "film-number": "98632835"}, "business-address": {"street1": "2101 REXFORD RD", "street2": "SUITE 250W", "city": "CHARLOTTE", "state": "NC", "zip": "28211", "phone": "7043652324"}, "mail-address": {"street1": "2101 REXFORD ROAD", "street2": "SUITE 250W", "city": "CHARLOTTE", "state": "NC", "zip": "28211"}}
text: 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): May 22,1998
  
                            Alydaar Software Corporation
               (Exact name of registrant as specified in its charter)
  
                                   North Carolina
                   (State or Other Jurisdiction of Incorporation)
  
                     0-22325                             87-0399301
            (Commission File Number)       (I.R.S. Employer Identification No.)
  
                  2101 Rexford Road, Suite 250 West, Charlotte, NC 28211 
                (Address and zip code of principal executive offices)
  
                                    704-365-2324
                           (Registrant's telephone Number)
  ITEM 5.  Other Matters
  
           At  Registrant's  annual  meeting  held on May 22,  1998,  shareholders
  approved, by the requisite majority, the following proposals:
  
           a. An  increase  in the number of  Directors  from three to five and an
  increase in the number of directorships available to nine.
  
           b. Approval of the 1997 Employee Stock Purchase Plan.
  
           c.  Ratification  and  approval of increases of the number of shares of
  the Company's  Common Stock  available for issuance  under the Alydaar  Software
  Corporation Omnibus Stock Plan.
  
           d. An amendment to the Company's  Articles of Incorporation to increase
  the amount of  authorized  Common  Stock from  20,000,000  shares to  50,000,000
  shares.
  
           e. Ratification of the selection and appointment by the Company's Board
  of  Directors  of Holtz  Rubenstein  & Co.  LLP,  as the  Company's  independent
  certified public accountants and as auditors for the Company for the year ending
  December 31, 1998.
  
           Shareholders also elected the following directors:
  
                    a.       Robert F. Gruder
  
                    b.       V. Hollis Scott
  
                    c.       Thomas J. Dudchik
  
                    d.       J. Alex McMillan
  
                    e.       John McCarthy
  
           Also, on May 22, 1998 the Board of Directors  approved the  appointment
  of Frank G. Milligan to serve as the Company's President.  Robert F. Gruder will
  continue to serve as Chairman of the Board and Chief Executive Officer.
  
                                          2
  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.
  
                                      Alydaar Software Corporation
                                      (Registrant)
  
                                      By: /s/ V. Hollis Scott
                                          V. Hollis Scott, Chief Financial Officer
  
  DATED: May 26, 1998
  
                                          3