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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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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) November 25, 1999
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TRANSFORMATION PROCESSING INC.
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(Exact name of Registrant as specified in its charter)
Nevada 0-23903 95-4583945
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(State or Other Jurisdiction (Commission File Number) IRS Employer
of Incorporation) Identification Number)
365 BAY STREET, TORONTO, ONTARIO M5H 2V2
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(Address of principal executive offices)(Zip Code)
(416) 414-9450
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(Registrant's telephone number, including area code)
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Item 3. BANKRUPTCY OR RECEIVERSHIP
On November 25, 1999, Transformation Processing Inc.'s Proposal
in bankruptcy was approved by the court.
(1) The identity of the court is the Superior Court of Justice
located in Toronto of the Province of Ontario.
(2) The date that the order was entered was November 25, 1999.
(3) The Proposal was made only to the preferred and unsecured
creditors. The Proposal basically stipulates that a pool of funds up to $300,000
will be available for distribution to the unsecured creditors, after deducting
payments to preferred creditors, consisting of crown claims, employee claims and
landlord's claim. Out of the remaining funds, the unsecured creditors will be
paid in full on the first $2,000 of their claims, CD$0.50 per CD$1.00 of their
claim between CD$2,001 and CD$5,000, and up to CD$0.10 per CD$1.00 of their
claim thereafter.
(4) No shares of stock were issued to satisfy any creditors.
OTHER EVENTS
On February 18, 2000, Transformation Processing, Inc. (the
"Registrant"), entered into a letter of intent to acquire substantially all of
the assets of eAutoclaims.com Corporation ("eAuto"), a Delaware corporation.
Under the letter of intent, substantially all of the assets of eAuto would be
acquired by the Registrant in exchange for 4 million shares of Common Stock of
the Registrant.
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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 thereunto duly authorized.
Transformation Processing Inc.
Registrant
Dated: March 7, 2000 By: /s/ Paul Mighton
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Paul Mighton, President
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