UNITED STATES 
                    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) June 27, 1996
                                                                  

                      Commission file number 0-16734


                          C.E.C. INDUSTRIES CORP.
            (Exact name of registrant as specified in charter)
                                                                   
          Nevada                                       87-0217252
     (State of other jurisdiction of                   (I.R.S. Employer
     incorporation or organization)                    Identification Number)

     23 Cactus Garden Drive, F-60
     Green Valley (Henderson), Nevada                  89014
     (Address of Principal Executive Office)           (Zip Code)
                              (702) 893-4747
           (Registrant's Telephone Number, Including Area Code)
                                     
                                Copies To:
                               Gerald Levine
                                 President
                       23 Cactus Garden Drive, F-23
                          Henderson, Nevada 89014
                              (702)893-4747
<PAGE>    
 C.E.C. Industries Corp. Page 2

Item No 1 Changes in Control of Registrant.

No events to report.

Item No. 2.    Acquisition or Disposition of Assets.

On June 27, 1996 the Company entered into an Exchange Agreement with One 
World Cards, Inc. & Bruce Perlowin its President for 278  - $10,000.00 
pre-paid long distance calling cards at a rate of approximately $0.45 per 
minute or better and an expiration date of five (5) years from the date of 
closing in exchange for 18 original art works by Sky M. Jones with appraisal 
books and appraisals totaling $2,779,700.00 owned by the Companies wholly 
owned subsidiary Mid-Nevada Art.           

Also on June 27, 1996 the Company entered into an Exchange Agreement with One
World Cards, Inc. & Bruce Perlowin its President for 3 - $100,000.00 at a 
rate of approximately $0.45 per minute or better with no expiration date and 
45 - $10,000.00 pre-paid long distance calling cards at a rate of 
approximately $0.45 per minute or better with an expiration date of five (5) 
years from the date of closing in exchange for 12 original art works by Sky 
M. Jones with appraisal books and appraisals totaling $750,000.00 owned by 
the Companies wholly owned subsidiary Mid-Nevada Art.

Item No. 3.    Bankruptcy or Receivership.

No events to report.

Item No. 4.    Changes in Registrant's Certifying Accountant.

No events to report.

Item No. 5.    Other Events.

No events to report.

Item No. 6.    Resignation of Registrant's Directors.

No events to report.

Item No. 7. Financial Statements, Proforma Financial Information and Exhibits.

     Exhibit - Exchange Agreement between One World Cards, Inc., Bruce 
               Perlowin and Mid- Nevada Art

     Exhibit - Exchange Agreement between One World Cards, Inc., Bruce 
               Perlowin and Mid- Nevada Art

<PAGE>
C.E.C. Industries Corp. Page Three



                               SIGNATURES
                                    
Pursuant to the requirements of the Securities and Exchange Act of 1934, the 
registrant has duly caused this report to be signed on its behalf by the 
undersigned hereunto duly authorized.


C.E.C. Industries Corp.



By: /s/Gerald Levine                           Dated:   June 27, 1996
       Gerald Levine, President
<PAGE>
                            EXCHANGE AGREEMENT
 


BUYERS:        One World Cards, Inc. & Bruce Perlowin whose address is 17321
Grisham St. Northridge, CA. 91325.

SELLERS:       Mid-Nevada Art, Inc., whose address is 23 Cactus Garden Dr.,
Henderson, NV 89014.

EXCHANGE:      Mid-Nevada Art, Inc. will exchange 18 original art works by 
Sky M. Jones with appraisal books representing the various pieces and 
appraisals that represent value totaling $2,779,700 for:

               278 One World Cards pre-paid Long Distance Phone Cards at a 
rate of $0.45 per minute or better in denominations of $10,000 each which 
shall be valid for five (5) years from the date of closing.

REPRESENTATIONS OF MID-NEVADA ART, INC.:     Mid-Nevada Art, Inc. will 
provide the art work as agreed and the accompanying documents (appraisal 
books) for the art work by Sky M. Jones.  Mid-Nevada Art, Inc. makes no 
representations regarding the art work.

REPRESENTATIONS OF ONE WORLD CARDS, INC. & BRUCE PERLOWIN:      
"We" have satisfied ourselves fully with the nature and value of this 
transaction and it's complete details and implications.  "We" have received 
adequate consideration and are "Fully Paid" and the phone cards received by 
Mid-Nevada Art, Inc. have no conditions upon any other reciprocal performance 
by Mid-Nevada Art.

               If One World Cards and/or Bruce Perlowin does not honor their 
obligations for these 278 - $10,000 pre-paid long distance calling cards as
represented in this agreement, One World Cards or Bruce Perlowin will 
provide an alternate Long Distance provider for the service on the 278 
calling cards within thirty (30) days of notification by you or return of 
the prorated amount of art work for the unused portion of time still due 
under this Exchange Agreement.

CLOSING:       The closing is to take place on June 27, 1996, at the offices 
of Mid-Nevada Art, Inc. 

AGREED UPON ON JUNE 27, 1996 BY:


MID-NEVADA ART, INC.               ONE WORLD CARDS, INC.



/s/Gerald Levine                   /s/Bruce Perlowin       
Gerald Levine, President           Bruce Perlowin, President
<PAGE>
                          EXCHANGE AGREEMENT
  
  BUYERS:      One World Cards, Inc. & Bruce Perlowin whose address is 17321
Grisham St. Northridge, CA. 91325.
  
  SELLERS:          Mid-Nevada Art, Inc., whose address is 23 Cactus Garden 
Dr., Henderson, NV 89014.
  
  EXCHANGE:         Mid-Nevada Art, Inc. will exchange 12 original art works 
by Sky M. Jones with appraisal books representing the various pieces and 
appraisals that represent value totaling $750,000 for:
  
               3 One World Cards pre-paid Long Distance Phone Cards at a rate 
of $0.45 per minute or better in denominations of $100,000 with no expiration 
date and 45 One World Cards Pre-paid Long Distance Phone Cards at a rate of 
$0.45 per minute or better in denominations of $10,000 each which shall be 
valid for five (5) years from the date of closing.
  
  REPRESENTATIONS OF MID-NEVADA ART, INC.:   Mid-Nevada Art, Inc. will 
provide the art work as agreed and the accompanying documents (appraisal 
books) for the art work by Sky M. Jones.  Mid-Nevada Art, Inc. makes no 
representations regarding the art work.
  
  REPRESENTATIONS OF ONE WORLD CARDS, INC. & BRUCE PERLOWIN:             
      "We" have satisfied ourselves fully with the nature and value of this 
transaction and it's complete details and implications.  "We" have received 
adequate consideration and are "Fully Paid" and the phone cards received by 
Mid-Nevada Art, Inc. have no conditions upon any other reciprocal performance 
by Mid-Nevada Art.
  
               If One World Cards and/or Bruce Perlowin does not honor their 
obligations for these pre-paid long distance calling cards as represented in 
this agreement, One World Cards or Bruce Perlowin will provide an alternate 
Lone Distance provider for the service on these pre-paid calling cards within 
thirty (30) days of notification by you or return of the prorated amount of 
art work for the unused portion of time still due under this Exchange 
Agreement.
  
  CLOSING:          The closing is to take place on June 27, 1996, at the 
offices of Mid-Nevada Art, Inc.
  
  AGREED UPON ON JUNE 27, 1996 BY:
  
  MID-NEVADA ART, INC.             ONE WORLD CARDS, INC.
  
  
  
/s/Gerald Levine                   /s/Bruce Perlowin                
Gerald Levine, President           Bruce Perlowin, President
[{"type": "8-K", "sequence": "1", "secsgml_size_bytes": 8251}]
{"company-data": {"conformed-name": "CEC INDUSTRIES CORP", "cik": "0000054175", "assigned-sic": "4700", "irs-number": "870217252", "state-of-incorporation": "NV", "fiscal-year-end": "0331"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-16734", "film-number": "96588194"}, "business-address": {"street1": "23 CACTUS GARDEN DR F 60", "city": "GREEN VALLEY (HENDER", "state": "NV", "zip": "89014", "phone": "7024362500"}, "mail-address": {"street1": "23 CACTUS GARDEN DRIVE", "city": "HENDERSON", "state": "NV", "zip": "89014"}, "former-company": {"former-conformed-name": "JUSTHEIM PETROLEUM CO", "date-changed": "19870115"}}
UNITED STATES 
                    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) June 27, 1996
                                                                  

                      Commission file number 0-16734

                          C.E.C. INDUSTRIES CORP.
            (Exact name of registrant as specified in charter)
                                                                   
          Nevada                                       87-0217252
     (State of other jurisdiction of                   (I.R.S. Employer
     incorporation or organization)                    Identification Number)

     23 Cactus Garden Drive, F-60
     Green Valley (Henderson), Nevada                  89014
     (Address of Principal Executive Office)           (Zip Code)
                              (702) 893-4747
           (Registrant's Telephone Number, Including Area Code)
                                     
                                Copies To:
                               Gerald Levine
                                 President
                       23 Cactus Garden Drive, F-23
                          Henderson, Nevada 89014
                              (702)893-4747
C.E.C. Industries Corp. Page 2

Item No 1 Changes in Control of Registrant.

No events to report.

Item No. 2.    Acquisition or Disposition of Assets.

On June 27, 1996 the Company entered into an Exchange Agreement with One 
World Cards, Inc. & Bruce Perlowin its President for 278  - $10,000.00 
pre-paid long distance calling cards at a rate of approximately $0.45 per 
minute or better and an expiration date of five (5) years from the date of 
closing in exchange for 18 original art works by Sky M. Jones with appraisal 
books and appraisals totaling $2,779,700.00 owned by the Companies wholly 
owned subsidiary Mid-Nevada Art.           

Also on June 27, 1996 the Company entered into an Exchange Agreement with One
World Cards, Inc. & Bruce Perlowin its President for 3 - $100,000.00 at a 
rate of approximately $0.45 per minute or better with no expiration date and 
45 - $10,000.00 pre-paid long distance calling cards at a rate of 
approximately $0.45 per minute or better with an expiration date of five (5) 
years from the date of closing in exchange for 12 original art works by Sky 
M. Jones with appraisal books and appraisals totaling $750,000.00 owned by 
the Companies wholly owned subsidiary Mid-Nevada Art.

Item No. 3.    Bankruptcy or Receivership.

No events to report.

Item No. 4.    Changes in Registrant's Certifying Accountant.

No events to report.

Item No. 5.    Other Events.

No events to report.

Item No. 6.    Resignation of Registrant's Directors.

No events to report.

Item No. 7. Financial Statements, Proforma Financial Information and Exhibits.

     Exhibit - Exchange Agreement between One World Cards, Inc., Bruce 
               Perlowin and Mid- Nevada Art

     Exhibit - Exchange Agreement between One World Cards, Inc., Bruce 
               Perlowin and Mid- Nevada Art
C.E.C. Industries Corp. Page Three

                               SIGNATURES
                                    
Pursuant to the requirements of the Securities and Exchange Act of 1934, the 
registrant has duly caused this report to be signed on its behalf by the 
undersigned hereunto duly authorized.

C.E.C. Industries Corp.

By: /s/Gerald Levine                           Dated:   June 27, 1996
       Gerald Levine, President
EXCHANGE AGREEMENT
 

BUYERS:        One World Cards, Inc. & Bruce Perlowin whose address is 17321
Grisham St. Northridge, CA. 91325.

SELLERS:       Mid-Nevada Art, Inc., whose address is 23 Cactus Garden Dr.,
Henderson, NV 89014.

EXCHANGE:      Mid-Nevada Art, Inc. will exchange 18 original art works by 
Sky M. Jones with appraisal books representing the various pieces and 
appraisals that represent value totaling $2,779,700 for:

               278 One World Cards pre-paid Long Distance Phone Cards at a 
rate of $0.45 per minute or better in denominations of $10,000 each which 
shall be valid for five (5) years from the date of closing.

REPRESENTATIONS OF MID-NEVADA ART, INC.:     Mid-Nevada Art, Inc. will 
provide the art work as agreed and the accompanying documents (appraisal 
books) for the art work by Sky M. Jones.  Mid-Nevada Art, Inc. makes no 
representations regarding the art work.

REPRESENTATIONS OF ONE WORLD CARDS, INC. & BRUCE PERLOWIN:      
"We" have satisfied ourselves fully with the nature and value of this 
transaction and it's complete details and implications.  "We" have received 
adequate consideration and are "Fully Paid" and the phone cards received by 
Mid-Nevada Art, Inc. have no conditions upon any other reciprocal performance 
by Mid-Nevada Art.

               If One World Cards and/or Bruce Perlowin does not honor their 
obligations for these 278 - $10,000 pre-paid long distance calling cards as
represented in this agreement, One World Cards or Bruce Perlowin will 
provide an alternate Long Distance provider for the service on the 278 
calling cards within thirty (30) days of notification by you or return of 
the prorated amount of art work for the unused portion of time still due 
under this Exchange Agreement.

CLOSING:       The closing is to take place on June 27, 1996, at the offices 
of Mid-Nevada Art, Inc. 

AGREED UPON ON JUNE 27, 1996 BY:

MID-NEVADA ART, INC.               ONE WORLD CARDS, INC.

/s/Gerald Levine                   /s/Bruce Perlowin       
Gerald Levine, President           Bruce Perlowin, President
EXCHANGE AGREEMENT
  
  BUYERS:      One World Cards, Inc. & Bruce Perlowin whose address is 17321
Grisham St. Northridge, CA. 91325.
  
  SELLERS:          Mid-Nevada Art, Inc., whose address is 23 Cactus Garden 
Dr., Henderson, NV 89014.
  
  EXCHANGE:         Mid-Nevada Art, Inc. will exchange 12 original art works 
by Sky M. Jones with appraisal books representing the various pieces and 
appraisals that represent value totaling $750,000 for:
  
               3 One World Cards pre-paid Long Distance Phone Cards at a rate 
of $0.45 per minute or better in denominations of $100,000 with no expiration 
date and 45 One World Cards Pre-paid Long Distance Phone Cards at a rate of 
$0.45 per minute or better in denominations of $10,000 each which shall be 
valid for five (5) years from the date of closing.
  
  REPRESENTATIONS OF MID-NEVADA ART, INC.:   Mid-Nevada Art, Inc. will 
provide the art work as agreed and the accompanying documents (appraisal 
books) for the art work by Sky M. Jones.  Mid-Nevada Art, Inc. makes no 
representations regarding the art work.
  
  REPRESENTATIONS OF ONE WORLD CARDS, INC. & BRUCE PERLOWIN:             
      "We" have satisfied ourselves fully with the nature and value of this 
transaction and it's complete details and implications.  "We" have received 
adequate consideration and are "Fully Paid" and the phone cards received by 
Mid-Nevada Art, Inc. have no conditions upon any other reciprocal performance 
by Mid-Nevada Art.
  
               If One World Cards and/or Bruce Perlowin does not honor their 
obligations for these pre-paid long distance calling cards as represented in 
this agreement, One World Cards or Bruce Perlowin will provide an alternate 
Lone Distance provider for the service on these pre-paid calling cards within 
thirty (30) days of notification by you or return of the prorated amount of 
art work for the unused portion of time still due under this Exchange 
Agreement.
  
  CLOSING:          The closing is to take place on June 27, 1996, at the 
offices of Mid-Nevada Art, Inc.
  
  AGREED UPON ON JUNE 27, 1996 BY:
  
  MID-NEVADA ART, INC.             ONE WORLD CARDS, INC.
  
  
  
/s/Gerald Levine                   /s/Bruce Perlowin                
Gerald Levine, President           Bruce Perlowin, President