<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K/A
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 24, 1999
------------------------------
CORPAS INVESTMENTS, INC.
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(Exact name of registrant as specified in its charter)
FLORIDA 000-30100 59-2890565
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(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
5120 TIMBERVIEW TERRACE
ORLANDO, FLORIDA 32819 33763
- ---------------------------------------- ----------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (407) 370-6561
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Former Address: 2536 Countryside Boulevard, 2nd Floor, Clearwater, Florida
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(Former Name or Former Address, if Changed Since Last Report)
<PAGE> 2
This Current Report on Form 8-K/A amends the Current Report on 8-K
filed by Corpas Investments, Inc. (the "Company") on December 9, 1999 (the
"Initial Report") to include certain financial information omitted pursuant to
Item 7(a)(4) of Form 8-K.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL STATEMENTS AND EXHIBITS.
(a) Financial Statements of Business Acquired.
Balance Sheet as of October 31, 1999 (Unaudited).
Statements of Operations for the period from inception (June
22,1999) to October 31, 1999 (Unaudited)
Statements of Cash Flows for the period from inception (June
22, 1999) to October 31, 1999 (Unaudited).
Statements of Stockholders' Deficit for the period from
inception (June 22, 1999) to October 31, 1999 (Unaudited).
Notes to Financial Statements.
(b) Pro Forma Financial Information.
Unaudited Pro Forma Condensed Combined Statement of
Operations for the period ended October 31, 1999.
Unaudited Pro Forma Condensed Combined Balance Sheet at
October 31, 1999.
Notes to Unaudited Pro Forma Condensed Combined Financial
Statements and Associated Adjustments for Merger.
(c) Exhibits.
EXHIBIT NO. DESCRIPTION
- ----------- -----------
2.1 Agreement and Plan of Merger, dated November 22, 1999, among
Corpas Investments, Inc., Roy Meadows and Interactive
ConEd.com, Inc. (filed as an exhibit to the Initial Report).
- 2 -
<PAGE> 3
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this Current Report to be signed on its behalf
by the undersigned thereunto duly authorized.
Date: March 2, 2000
CORPAS INVESTMENTS, INC.
By: /s/ Lawrence R. Kuhnert
-------------------------------------
Lawrence R. Kuhnert
Chief Financial Officer
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<PAGE> 4
EXHIBIT INDEX
EXHIBIT NO. DESCRIPTION
- ----------- -----------
2.1 Agreement and Plan of Merger, dated November 22, 1999, among
Corpas Investments, Inc., Roy Meadows and Interactive
ConEd.com, Inc. (filed as an exhibit to the Initial Report)
- 4 -
<PAGE> 5
CORPAS INVESTMENTS, INC.
TABLE OF CONTENTS
FINANCIAL STATEMENTS OF BUSINESS ACQUIRED, INTERACTIVE CONED.COM, INC.
AS FOLLOWS:
<TABLE>
<S> <C>
Balance Sheet as of October 31, 1999 (Unaudited)........................... F-2
Statement of Operations for the Period from Inception
(June 22, 1999) to October 31, 1999 (Unaudited).......................... F-3
Statement of Cash Flows for the Period from Inception
(June 22, 1999) to October 31, 1999 (Unaudited).......................... F-4
Statement of Stockholders' Deficit for the Period from Inception
(June 22, 1999) to October 31, 1999 (Unaudited).......................... F-5
Notes to Financial Statements.............................................. F-6
UNAUDITED PRO FORMA CONDENSED COMBINED FINANCIAL INFORMATION, REFLECTING
THE MERGER WITH INTERACTIVE CONED.COM, INC............................... F-7
Unaudited Pro Forma Condensed Combined Statement of Operations for
the period ended October 31, 1999........................................ F-8
Unaudited Pro Forma Condensed Combined Balance Sheet at October 31, 1999... F-9
Notes to Unaudited Pro Forma Condensed Combined Financial Statements
and Associated Adjustments for Merger....................................F-10
</TABLE>
F-1
<PAGE> 6
INTERACTIVE CON-ED.COM, INC.
(A DEVELOPMENT STAGE ENTITY)
BALANCE SHEET
OCTOBER 31, 1999
<TABLE>
<CAPTION>
============================================================== ================
(Unuadited)
<S> <C>
ASSETS
Fixed assets $ 75,260
- -------------------------------------------------------------- ----------------
TOTAL ASSETS $ 75,260
============================================================== ================
LIABILITIES AND STOCKHOLDERS' DEFICIT
Current liabilities:
Accounts payable $ 297,340
Accrued expenses 31,938
- -------------------------------------------------------------- ----------------
Total liabilities 329,278
- -------------------------------------------------------------- ----------------
Stockholders' deficit:
Common stock, par value $.001, 50,000,000 shares authorized
5,600,000 shares issued and outstanding 5,600
Accumulated deficit (254,018)
Subscriptions receivable (5,600)
- -------------------------------------------------------------- ----------------
Total stockholders' deficit (254,018)
- -------------------------------------------------------------- ----------------
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $ 75,260
============================================================== ================
</TABLE>
The accompanying notes are an integral part of these financial statements.
F-2
<PAGE> 7
INTERACTIVE CON-ED.COM, INC.
(A DEVELOPMENT STAGE ENTITY)
STATEMENT OF OPERATIONS
FOR THE PERIOD FROM INCEPTION
(JUNE 22, 1999) TO OCTOBER 31, 1999
<TABLE>
<CAPTION>
====================================================== ====== =================
(Unaudited)
<S> <C>
Revenue $ -
Operating expenses 254,018
- ------------------------------------------------------ ------ -----------------
Net loss (254,018)
- ------------------------------------------------------ ------ -----------------
Net loss per share $ (.05)
- ------------------------------------------------------ ------ -----------------
Weighted average common shares outstanding 5,600,000
====================================================== ====== =================
</TABLE>
The accompanying notes are an integral part of these financial statements.
F-3
<PAGE> 8
INTERACTIVE CON-ED.COM, INC.
(A DEVELOPMENT STAGE ENTITY)
STATEMENT OF CASH FLOW
FOR THE PERIOD FROM INCEPTION
(JUNE 22, 1999) TO OCTOBER 31, 1999
<TABLE>
<CAPTION>
===============================================================================
(Unaudited)
- -------------------------------------------------------------------------------
<S> <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss $ (254,018)
Adjustments to reconcile net loss to net cash
provided by operating activities:
Increases in liabilities:
Accounts payable 297,340
Accrued expenses 31,938
- -------------------------------------------------------------------------------
NET CASH PROVIDED BY OPERATING ACTIVITIES: 75,260
- -------------------------------------------------------------------------------
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of equipment (75,260)
- -------------------------------------------------------------------------------
NET CASH USED FOR INVESTING ACTIVITIES: (75,260)
- -------------------------------------------------------------------------------
Net change in cash -
Cash, beginning of period -
- -------------------------------------------------------------------------------
CASH, END OF PERIOD $ -
===============================================================================
Supplemental disclosures of cash flow information:
- -------------------------------------------------------------------------------
Cash paid for interest $ -
Cash paid for income taxes $ -
===============================================================================
</TABLE>
The accompanying notes are an integral part of these financial statements.
F-4
<PAGE> 9
INTERACTIVE CON-ED.COM, INC.
(A DEVELOPMENT STAGE ENTITY)
STATEMENT OF STOCKHOLDERS' DEFICIT
FOR THE PERIOD FROM INCEPTION
(JUNE 22, 1999) TO OCTOBER 31, 1999
<TABLE>
<CAPTION>
===============================================================================================
COMMON SHARES
------------------
DEFICIT
ACCUMULATED
NUMBER DURING THE TOTAL
OF SUBSCRIPTIONS DEVELOPMENT STOCKHOLDERS'
SHARES AMOUNT RECEIVABLE STAGE DEFICIT
- -----------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
BALANCE, June 22, 1999 - $ - $ - $ - $ -
Issuance of common stock
to founders 5,600,000 5,600 - - 5,600
Net loss - - - (254,018) (254,018)
Subscriptions receivable - - (5,600) - (5,600)
- -----------------------------------------------------------------------------------------------
BALANCE, OCTOBER 31, 1999 5,600,000 $ 5,600 $ (5,600) $(254,018) (254,018)
- -----------------------------------------------------------------------------------------------
(UNAUDITED)
===============================================================================================
</TABLE>
The accompanying notes are an integral part of these financial statements.
F-5
<PAGE> 10
INTERACTIVE CON-ED.COM, INC.
(A DEVELOPMENT STAGE ENTITY)
NOTES TO FINANCIAL STATEMENTS
===============================================================================
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Nature of Operations - Interactive ConEd.com, Inc., a development stage entity
(the "Company"), was incorporated on June 22, 1999, in the State of Delaware
for the purpose of utilizing the Internet as a tool for satisfying the
healthcare industry's need for online access to healthcare education, training
and testing materials. It is the Company's mission to become a leading marketer
of online continuing education and training for the healthcare industry.
Liquidity - The Company has no revenues from operations and is subject to the
risks, expenses, and uncertainties frequently encountered by companies in the
development stage. In the event the Company does not successfully implement its
business plan, certain assets may not be recoverable.
Fixed Assets - Fixed assets are stated at cost. Depreciation will be provided
for fixed assets over the estimated useful lives of the assets using a
straight-line method.
NOTE 2 - STOCKHOLDERS' EQUITY
The Company issued a total of 5,600,000 common shares to its founders for
$5,600. These funds had not yet been received as of October 31, 1999 and are
reflected as subscriptions receivable.
NOTE 3 - SUBSEQUENT EVENTS
Effective November 24, 1999, the Company entered into a merger agreement with
Corpas Investments, Inc., a public shell company with no operations ("Corpas").
In conjunction with the merger, Corpas completed an offering of 1,350,000
shares of common stock at $1.50 per share raising $2,025,000.
F-6
<PAGE> 11
CORPAS INVESTMENTS, INC.
UNAUDITED PRO FORMA CONDENSED COMBINED FINANCIAL INFORMATION,
REFLECTING THE MERGER WITH INTERACTIVE CON-ED.COM, INC.
The following unaudited pro forma condensed combined balance sheet as of
October 31, 1999 and the unaudited pro forma condensed combined statement of
operations for the ten month period ended October 31, 1999 give effect to the
Merger as of November 24, 1999 for the pro forma consolidated balance sheet and
as of January 1, 1999 for the pro forma statement of operations.
The unaudited pro forma condensed combined financial statements are based on
historical financial statements of Corpas Investments, Inc. ("Corpas" or the
"Company") and Interactive ConEd.com, Inc. ("ICE"), giving effect to the Merger
applying the purchase method of accounting and the assumptions and adjustments
as discussed in the accompanying notes to the unaudited pro forma condensed
combined financial statements (see Note A). These unaudited pro forma condensed
combined financial statements have been prepared by the management of Corpas
based upon the condensed combined financial statements of Corpas and ICE as of
October 31, 1999 and for the ten months ended October 31, 1999. The unaudited
pro forma condensed combined financial statements should be read in conjunction
with the historical financial statements and notes thereto. The unaudited pro
forma condensed combined financial statements are not necessarily indicative of
what actual results of operations would have been for the period presented had
the transaction occurred on the dates indicated and do not purport to indicate
the results of the future operations.
F-7
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CORPAS INVESTMENTS, INC.
UNAUDITED PRO FORMA CONDENSED COMBINED
STATEMENT OF OPERATIONS
FOR THE TEN MONTHS ENDED OCTOBER 31, 1999
<TABLE>
<CAPTION>
Corpas Interactive
Investments, Inc. ConEd.com, Inc.
Ten Months Four Months Pro Forma
Ended Ended Pro Forma Consolidated
October 31, 1999 October 31, 1999 Adjustments Company
---------------- ---------------- ----------- ------------
<S> <C> <C> <C> <C>
Revenue $ - $ - $ - $ -
Operating expenses - 254,018 - 254,018
---------------- ---------------- ----------- -----------
Other income/expense - - - -
---------------- ---------------- ----------- -----------
Net loss $ - $(254,018) $ - $ (254,018)
================ ================ =========== ===========
Net loss per share $ (0.06)
===========
Weighted average shares outstanding
4,017,073
===========
</TABLE>
See notes to unaudited pro forma consolidated statements of operations.
F-8
<PAGE> 13
CORPAS INVESTMENTS, INC.
UNAUDITED PRO FORMA CONDENSED COMBINED
BALANCE SHEET
OCTOBER 31, 1999
<TABLE>
<CAPTION>
Corpas Interactive
Investments, Inc. ConEd.com, Inc.
October 31, October 31, Pro Forma
1999 1999 Adjustments Total
---------------- --------------- ----------- ---------
<S> <C> <C> <C> <C>
Assets
Property and Equipment $ -- $ 75,260 $ 75,260
------- --------- --------- ---------
Total assets $ -- $ 75,260 $ -- $ 75,260
======= ========= ========= =========
Liabilities and Stockholders' Equity
Accounts payable $ -- $ 297,340 $ -- $ 297,340
Accrued expenses -- 31,938 -- 31,938
------- --------- --------- ---------
Total current liabilities -- 329,278 -- 329,278
------- --------- --------- ---------
Stockholders' equity:
Common stock 4,000 5,600 (5,600)(B) 9,600
5,600 (A)
Accumulated deficit (4,000) (254,018) (254,018)
Subscriptions receivable (5,600) (5,600)
------- --------- --------- ---------
Total stockholders' equity -- (254,018) -- (254,018)
------- --------- --------- ---------
Total liabilities and stockholders' equity $ -- $ 75,260 $ -- $ 75,260
======= ========= ========= =========
</TABLE>
See notes to unaudited pro forma consolidated balance sheet.
F-9
<PAGE> 14
CORPAS INVESTMENTS, INC.
NOTES TO UNAUDITED PRO FORMA CONDENSED COMBINED
FINANCIAL STATEMENTS
NOTE A
As consideration for Corpas' acquisition of ICE through the Merger, Corpas has
agreed to pay to holders of ICE common stock consideration pursuant to the
terms of the merger agreement , as follows:
The consideration paid at closing was in the form of 5,600,000 shares of Corpas
common stock, par value $.001 per share, one share of Corpas common stock for
each one share of ICE common stock outstanding.
NOTE B
The pro forma condensed combined balance sheet includes the adjustments
necessary to give full effect to the Merger as if it had occurred on October
31, 1999 and to reflect the allocation of the cost of the merger to the
estimated fair value of assets acquired and liabilities assumed including: (a)
the issuance of 5,600,000 shares of common stock of Corpas, and (b) the
elimination of 5,600,000 shares of common stock of ICE.
These adjustments are summarized as follows:
<TABLE>
<S> <C> <C>
(a) Issuance of one share of Corpas Common Stock in exchange
for one share of ICE Common Stock $ 5,600
(b) Elimination of ICE common stock (5,600)
-------
$ 0
-------
</TABLE>
F-10
