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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 2, 2001
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VESTIN GROUP, INC.
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(Exact name of registrant as specified in its charter)
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Nevada 000-24803 52-2102142
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
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2901 El Camino, Suite 206, Las Vegas, Nevada 89102
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(Address of principal executive offices) (Zip Code)
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Registrant's telephone number, including area code: (702) 227-0965
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Not Applicable
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(Former name or former address, if changed since last report.)
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ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS.
On March 31, 2000, Vestin Group, Inc., a Delaware corporation (the "Company"),
acquired LL Bradford & Company, a Nevada professional corporation which provides
accounting services to its customers ("LLB"), through the purchase of 2,500
shares of LLB common stock, no par or stated value per share (the "LLB Stock").
In consideration for the acquisition, the Company issued 800,000 shares of the
Company's common stock, $0.0001 par value per share, to the former LLB
stockholders.
On January 2, 2001, the Company agreed to unwind the above described transaction
by entering into a Purchase Agreement (the "LLB Agreement") with the following
former stockholders of LLB: Lance Bradford, Leilani Bradford, David Hall and
Arthur de Joya (the "Transferees"). Lance Bradford currently serves as the
Company's Chief Financial Officer and Secretary, and also serves as a member of
the Board of Directors of the Company. Pursuant to the LLB Agreement, the
Company has agreed to surrender all of its ownership in the LLB Stock to the
Transferees in exchange for the return by the Transferees of the Company's
common stock such Transferees acquired in connection with the LLB acquisition
referred to above.
On March 31, 2000, the Company entered into an agreement with
PrepaidAdvisors.com, Inc., a Nevada corporation ("Prepaid"), whereby the Company
agreed to perform certain financial services for Prepaid (the "Services
Agreement") in exchange for 2,187,500 shares of Prepaid common stock, $0.0001
par value per share (the "Prepaid Stock").
On January 2, 2001, the Company entered into a Purchase Agreement with Prepaid
(the "Prepaid Agreement"). Under the terms of the Prepaid Agreement, Prepaid has
agreed to terminate the Services Agreement and the Company has agreed to return
the Prepaid Stock to Prepaid.
Copies of the LLB Agreement and the Prepaid Agreement are attached hereto as
Exhibits 99.1 and 99.2, respectively.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.
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Exhibit No Description
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99.1 Purchase Agreement dated January 2, 2001 by and
among the Company and the Transferees
99.2 Purchase Agreement dated January 2, 2001 by and
between the Company and LLB
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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 hereunto duly authorized.
VESTIN GROUP, INC.
Date: January 17, 2001 By /s/ Michael V. Shustek
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Michael V. Shustek
Chief Executive Officer
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