SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549


                                    Form 8-K


                       Pursuant to Section 13 or 15(d) of
                       the Securities Exchange Act of 1934





       Date of Report (date of earliest event reported): November 22, 1996




                         ISO BLOCK PRODUCTS (USA), INC.
             (Exact Name of Registrant as specified in its Charter)


                                    Colorado
                 (State or other jurisdiction of incorporation)


       0-25810                                                84-1026503
(Commission File Number)                            (IRS Employer Ident. Number)



               8037 South Datura Street, Littleton, Colorado 80120
            (Address of Principal Executive Offices, incl. Zip Code)



         Registrant's telephone number, incl. area code: (303) 795-9729




          (Former name or former address, if changed since last report)
<PAGE>



Item 5.           Other Events.

         Effective  November 22,  1996,  ISO Block  Products  (USA),  Inc.  (the
"Company")  entered into a Settlement  Agreement with Josef Ratey, an individual
("Ratey"),  Helge Seidel,  an  individual  ("Seidel"),  and R-S Plus  Investment
Corp., a Florida corporation ("R-S PLUS"). The Settlement Agreement provides for
the  cancellation  of certain shares issued pursuant to an Agreement and Plan of
Reorganization  ("Exchange  Agreement") dated March 28, 1994, among the Company,
R-S Iso-Block  Produktions GmbH, a German limited liability company  ("Iso-Block
GmbH"),  Ratey,  Seidel, and R-S Plus, in which the Company purchased from Ratey
and Seidel all of the equity  interest in Iso-Block GmbH, and purchased from R-S
PLUS all of its right,  title and interest in and to Iso-Block  GmbH,  including
all R-S PLUS  property  theretofore  contributed  to Iso-Block  GmbH and all R-S
PLUS'  rights to  Iso-Block  GmbH  profits,  in exchange  for the issuance of an
aggregate  of  2,000,000  shares  of the  Company's  authorized  but  heretofore
unissued common stock, no par value (the "Exchange Shares").

         The Exchange Shares were issued in the following proportions: 1,000,000
shares to R-S PLUS, 900,000 shares to Ratey, and 100,000 shares to Seidel, and a
total of 300,000 of the shares issued to R-S PLUS  subsequently were transferred
to two  individuals.  In addition,  Ratey,  Seidel and R-S PLUS received options
pursuant  to the  Exchange  Agreement  for a  two-year  period  to  purchase  an
aggregate  of not more than  1,000,000  shares of the  Company.  Pursuant to the
Settlement Agreement, such options were cancelled and voided as if never issued.

         Of the 2,000,000  Exchange Shares  originally  issued,  an aggregate of
1,737,500 shares were cancelled and voided, as follows:

          (i)  all 100,000 of the Exchange  Shares issued to Seidel  pursuant to
               the Exchange Agreement;

          (ii) 650,000 shares (that is, all but 250,000) of the Exchange  Shares
               issued to Ratey pursuant to the Exchange Agreement; and

          (iii)987,500  shares  (that  is,  all  but  12,500)  of the  1,000,000
               Exchange  Shares  issued  to R-S PLUS  pursuant  to the  Exchange
               Agreement.

         As of the date of this  report,  a total of  787,500  of the  1,737,500
cancellable shares have been physically  cancelled.  The 650,000 shares of Ratey
to be cancelled and the 300,000 shares  transferred to two  individuals  have by
action of the Company's  board of directors  been cancelled and are reflected as
such on the Company's  records of stock transfer and registry,  but have not yet
been physically  cancelled.  The  certificates  evidencing  these shares will be
physically cancelled when received by the Company.

         The Settlement  Agreement  provided for the full settlement and release
of all existing claims,  if any, and all potential claims of R-S PLUS, Ratey and
Seidel  against the  Company and against all persons now or formerly  serving or
acting as officers,  directors  or  employees  of the Company or legal  counsel,
accountants or other advisers or consultants to the Company.  Upon the effective
date of the Agreement and the issuance of the options,  neither R-S PLUS,  Ratey
nor Seidel  retained  any further  claim of any kind  against the Company or the
enumerated persons.

         The Settlement Agreement also provided for the issuance and delivery to
Ratey of options to purchase an aggregate of 240,000  shares of the common stock
of the  Company at the price of Eighty  Cents  (US$0.80)  per share,  subject to
customary adjustments,  for a period of two years from the effective date of the
Agreement (the "Settlement Options").


Item 7.           Financial Statements and Exhibits.

                  (c)      Exhibits.

              4.1     Common Stock Option (Josef Ratey) dated November 26, 1996.

             10.1     Settlement Agreement dated November 19, 1996.
<PAGE>





                                   SIGNATURES


                  Pursuant to the requirements of the Securities Exchange Act of
1934, the Registrant has duly caused this Report on Form 8-K to be signed on its
behalf by the undersigned hereunto duly authorized.


DATED: November 26, 1996
                                             ISO BLOCK PRODUCTS (USA), INC.




                                             By: /s/ Egin Bresnig
                                             --------------------
                                             Egin Bresnig, President and CEO
<PAGE>


                          ISO BLOCK PRODUCTS USA, INC.
             (Exact name of registrant as specified in its charter)


                                  EXHIBIT INDEX
                                       to
                                    FORM 8-K
                             Dated November 22, 1996


         The following  exhibits  either are filed as exhibits to this report on
Form 8-K, or have been  incorporated  by reference to another report or document
and are marked  with the symbol "+".  References  in the list of exhibits to the
"Company" refer to Iso Block Products USA, Inc.




 4.1     Common Stock Warrant (Josef Ratey) dated November 26, 1996 ........   *

10.1     Settlement Agreement dated November 19, 1996, among the
         Company, Josef Ratey, Helge Seidel and R-S Plus Investment Corp.  ..  *


         *Filed as part of this report.
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{"company-data": {"conformed-name": "ISO BLOCK PRODUCTS USA INC", "cik": "0000837014", "assigned-sic": "3250", "irs-number": "841026503", "state-of-incorporation": "CO", "fiscal-year-end": "0331"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-25810", "film-number": "96689094"}, "business-address": {"street1": "8037 S DATURA ST", "street2": "STE 102", "city": "LITTLETON", "state": "CO", "zip": "80120", "phone": "3037959729"}, "mail-address": {"street1": "90 MADISON ST. #707", "city": "DENVER", "state": "CO", "zip": "80206"}, "former-company": {"former-conformed-name": "CHAMPION COMPUTER RENTALS INC", "date-changed": "19940303"}}
SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    Form 8-K

                       Pursuant to Section 13 or 15(d) of
                       the Securities Exchange Act of 1934

       Date of Report (date of earliest event reported): November 22, 1996

                         ISO BLOCK PRODUCTS (USA), INC.
             (Exact Name of Registrant as specified in its Charter)

                                    Colorado
                 (State or other jurisdiction of incorporation)

       0-25810                                                84-1026503
(Commission File Number)                            (IRS Employer Ident. Number)

               8037 South Datura Street, Littleton, Colorado 80120
            (Address of Principal Executive Offices, incl. Zip Code)

         Registrant's telephone number, incl. area code: (303) 795-9729

          (Former name or former address, if changed since last report)
Item 5.           Other Events.

         Effective  November 22,  1996,  ISO Block  Products  (USA),  Inc.  (the
"Company")  entered into a Settlement  Agreement with Josef Ratey, an individual
("Ratey"),  Helge Seidel,  an  individual  ("Seidel"),  and R-S Plus  Investment
Corp., a Florida corporation ("R-S PLUS"). The Settlement Agreement provides for
the  cancellation  of certain shares issued pursuant to an Agreement and Plan of
Reorganization  ("Exchange  Agreement") dated March 28, 1994, among the Company,
R-S Iso-Block  Produktions GmbH, a German limited liability company  ("Iso-Block
GmbH"),  Ratey,  Seidel, and R-S Plus, in which the Company purchased from Ratey
and Seidel all of the equity  interest in Iso-Block GmbH, and purchased from R-S
PLUS all of its right,  title and interest in and to Iso-Block  GmbH,  including
all R-S PLUS  property  theretofore  contributed  to Iso-Block  GmbH and all R-S
PLUS'  rights to  Iso-Block  GmbH  profits,  in exchange  for the issuance of an
aggregate  of  2,000,000  shares  of the  Company's  authorized  but  heretofore
unissued common stock, no par value (the "Exchange Shares").

         The Exchange Shares were issued in the following proportions: 1,000,000
shares to R-S PLUS, 900,000 shares to Ratey, and 100,000 shares to Seidel, and a
total of 300,000 of the shares issued to R-S PLUS  subsequently were transferred
to two  individuals.  In addition,  Ratey,  Seidel and R-S PLUS received options
pursuant  to the  Exchange  Agreement  for a  two-year  period  to  purchase  an
aggregate  of not more than  1,000,000  shares of the  Company.  Pursuant to the
Settlement Agreement, such options were cancelled and voided as if never issued.

         Of the 2,000,000  Exchange Shares  originally  issued,  an aggregate of
1,737,500 shares were cancelled and voided, as follows:

          (i)  all 100,000 of the Exchange  Shares issued to Seidel  pursuant to
               the Exchange Agreement;

          (ii) 650,000 shares (that is, all but 250,000) of the Exchange  Shares
               issued to Ratey pursuant to the Exchange Agreement; and

          (iii)987,500  shares  (that  is,  all  but  12,500)  of the  1,000,000
               Exchange  Shares  issued  to R-S PLUS  pursuant  to the  Exchange
               Agreement.

         As of the date of this  report,  a total of  787,500  of the  1,737,500
cancellable shares have been physically  cancelled.  The 650,000 shares of Ratey
to be cancelled and the 300,000 shares  transferred to two  individuals  have by
action of the Company's  board of directors  been cancelled and are reflected as
such on the Company's  records of stock transfer and registry,  but have not yet
been physically  cancelled.  The  certificates  evidencing  these shares will be
physically cancelled when received by the Company.

         The Settlement  Agreement  provided for the full settlement and release
of all existing claims,  if any, and all potential claims of R-S PLUS, Ratey and
Seidel  against the  Company and against all persons now or formerly  serving or
acting as officers,  directors  or  employees  of the Company or legal  counsel,
accountants or other advisers or consultants to the Company.  Upon the effective
date of the Agreement and the issuance of the options,  neither R-S PLUS,  Ratey
nor Seidel  retained  any further  claim of any kind  against the Company or the
enumerated persons.

         The Settlement Agreement also provided for the issuance and delivery to
Ratey of options to purchase an aggregate of 240,000  shares of the common stock
of the  Company at the price of Eighty  Cents  (US$0.80)  per share,  subject to
customary adjustments,  for a period of two years from the effective date of the
Agreement (the "Settlement Options").

Item 7.           Financial Statements and Exhibits.

                  (c)      Exhibits.

              4.1     Common Stock Option (Josef Ratey) dated November 26, 1996.

             10.1     Settlement Agreement dated November 19, 1996.
SIGNATURES

                  Pursuant to the requirements of the Securities Exchange Act of
1934, the Registrant has duly caused this Report on Form 8-K to be signed on its
behalf by the undersigned hereunto duly authorized.

DATED: November 26, 1996
                                             ISO BLOCK PRODUCTS (USA), INC.

                                             By: /s/ Egin Bresnig
                                             --------------------
                                             Egin Bresnig, President and CEO
ISO BLOCK PRODUCTS USA, INC.
             (Exact name of registrant as specified in its charter)

                                  EXHIBIT INDEX
                                       to
                                    FORM 8-K
                             Dated November 22, 1996

         The following  exhibits  either are filed as exhibits to this report on
Form 8-K, or have been  incorporated  by reference to another report or document
and are marked  with the symbol "+".  References  in the list of exhibits to the
"Company" refer to Iso Block Products USA, Inc.

 4.1     Common Stock Warrant (Josef Ratey) dated November 26, 1996 ........   *

10.1     Settlement Agreement dated November 19, 1996, among the
         Company, Josef Ratey, Helge Seidel and R-S Plus Investment Corp.  ..  *

         *Filed as part of this report.