UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-QSB
(Mark One)
[x] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934 for the quarterly period ended June 30, 2000
[ ] TRANSITION REPORT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934 for the Transition Period from _______________ TO ____________.
0-22808
(Commission File Numbers)
eNexi Holdings, Inc.
(Exact name of registrant as specified in its charter)
<TABLE>
<CAPTION>
<S> <C>
Delaware 7379
(State or other jurisdiction of (Primary Standard Industrial
incorporation or organization) Classification Code Number)
</TABLE>
30 Corporate Park, Suite 455, Irvine California 92606
(Address of principal executive offices)
(949) 756-8181
(Registrants' telephone number, including area code)
Silver King Resources, Inc., 6025 South Eaton Lane, Littleton, Colorado 80123
(Former name, former address and former fiscal year,
if changed since last report)
Indicate by check mark whether the Registrants (1) have filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
Registrants were required to file such reports), and (2) have been subject to
such filing requirements for the past 90 days. YES [ X ] NO[ ]
As of June 30, 2000, 9,732,864 shares of Common Stock, par value $.0001 per
share of eNexi Holdings, Inc. were issued and outstanding.
<PAGE>
PART I
FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS
<TABLE>
<CAPTION>
CONTENTS
<S> <C>
Balance Sheets F - 2
Statements of Income and Expense F - 3
Statement of Stockholders' Equity F - 4
Statements of Cash Flows F - 5
Notes to the Financial Statements F - 6
</TABLE>
<PAGE>
eNexi HOLDINGS, INC.
(Formerly known as Silver King Resources, Inc. and eNexi, Inc.)
BALANCE SHEETS
(UNAUDITED)
ASSETS
<TABLE>
<CAPTION>
June 30, 2000
December 31, 1999 (Consolidated)
---------------------- -------------------
Current assets:
<S> <C> <C>
Cash and cash equivalents $ 1,196,675 $ 4,502,494
Accounts receivable 1,336 166,138
Other current assets 10,267 44,107
---------------------- -------------------
Total current assets 1,208,278 4,712,739
---------------------- -------------------
Property and equipment - net 181,029 318,494
---------------------- -------------------
Other assets
Deposits 52,527 78,410
---------------------- -------------------
Total assets $ 1,441,834 $ 5,109,643
====================== ===================
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable $ 88,994 $ 218,181
Accrued liabilities 7,979 -
Loan payable - related party - 107,000
Notes payable (Note 5) 394,884 415,069
Other current liabilities - 36,878
---------------------- -------------------
Total current liabilities 491,857 777,128
---------------------- -------------------
Commitments (Note 4) - -
Stockholders' equity: (Note 6)
Preferred Stock
Convertible Series A: $0.0001 par value, 6,000,000 shares authorized
and 0 shares issued and outstanding at June 30, 2000 - -
Convertible Series B: $0.0001 par value, 3,000,000 shares
authorized, and 0 shares issued and outstanding
at June 30, 2000 - -
Common Stock
$0.01 par value, 1,200,000 shares authorized, 1,048,868
shares issued and outstanding at December 31, 1999
$0.0001 par value, 50,000,000 shares authorized, 9,732,864
shares issued and outstanding at June 30, 2000, respectively 10,489 974
Additional paid-in capital 2,435,031 7,073,386
Warrants outstanding - 14,000
Accumulated deficit (1,495,543) (2,755,845)
---------------------- -------------------
Total stockholders' equity 949,977 4,332,515
---------------------- -------------------
Total liabilities and stockholders' equity $ 1,441,834 $ 5,109,643
====================== ===================
</TABLE>
<PAGE>
eNexi HOLDINGS, INC.
(Formerly known as Silver King Resources, Inc. and eNexi, Inc.)
STATEMENTS OF INCOME AND EXPENSE
<TABLE>
<CAPTION>
(UNAUDITED)
From inception Three months From inception
(May 14, 1999) ended (May 14, 1999) Six months ended
through June 30, 2000 through June 30, 2000
June 30, 1999 (Consolidated) June 30, 1999 (Consolidated)
------------ ------------ ------------ ------------
<S> <C> <C> <C> <C>
Net revenues .................. $ -- $ 272,905 $ -- $ 369,277
------------ ------------ ------------ ------------
Operating costs and expense:
Cost of recurring revenues 35 100,973 35 149,341
Sales and marketing ....... -- 262,787 -- 505,701
General and administrative 147,226 513,509 147,226 911,904
------------ ------------ ------------ ------------
Total operating costs and
expenses ............. 147,261 877,269 147,261 1,566,946
------------ ------------ ------------ ------------
Loss from operations .......... (147,261) (604,364) (147,261) (1,197,669)
Other income (expense)
Organization costs ........ -- (99,416) -- (99,416)
Interest expense .......... -- (6,131) -- (12,204)
Interest income ........... 861 37,682 861 48,987
------------ ------------ ------------ ------------
Loss before provision for
income taxes ........... (146,400) (672,229) (146,400) (1,260,302)
------------ ------------ ------------ ------------
Provision for income taxes -- -- -- --
------------ ------------ ------------ ------------
Net loss ................ $ (146,400) $ (672,229) $ (146,400) $ (1,260,302)
============ ============ ============ ============
Net loss per share ............ $ (.173) $ (.033) $ (.173) $ (.113)
============ ============ ============ ============
Weighted average shares
outstanding ................ 844,368 20,449,746 844,368 11,157,669
============ ============ ============ ============
</TABLE>
<PAGE>
eNexi HOLDINGS, INC.
(Formerly known as Silver King Resources, Inc. and eNexi, Inc.)
STATEMENT OF STOCKHOLDERS' EQUITY
(UNAUDITED)
<TABLE>
<CAPTION>
Series A Convertible Series B Convertible
Preferred Stock Preferred Stock Common Stock
Number Par Number Par Value Number Par Additional
of Shares Value of Shares of Shares Value Paid-in
Capital
<S> <C> <C> <C> <C> <C> <C> <C>
Balance, December 31, 1999 - $ - - $ - 1,048,868 $ 10,489 $ 2,435,031
Purchase of stock for cash - - - - (2,000) (20) (19,980)
Shares issued for stock
(Note 3) 6,000,000 600 - - 43,075,000 4,308 813,843
Adjusting entries to
reflect reverse acquisition
(Note 3) - - - - (1,046,868) (10,469) (863,893)
Issuance of Series B
Preferred Stock for cash - - 2,009,864 201 - - 4,704,250
1 for 25 reverse stock
split (Note 6) - - - - (41,352,000) (4,135) 4,135
Issuance of common stock
for conversion of Series A
and Series B Preferred Stock
(Note 6) (6,000,000) (600) (2,009,864) (201) 8,009,864 801 -
Net loss - - - - - - -
------------ --------- ------------ ---------- ----------- ------------ --------------
Balance, June 30, 2000 -
consolidated - $ - - $ - 9,732,864 $ 974 $ 7,073,386
============ ========= ============ ========== =========== ============ ==============
</TABLE>
<PAGE>
eNexi HOLDINGS, INC.
(Formerly known as Silver King Resources, Inc. and eNexi, Inc.)
STATEMENT OF STOCKHOLDERS' EQUITY
(UNAUDITED)
(CONT'D)
<TABLE>
<CAPTION>
Retained Total
Warrants Earnings Stockholders'
Outstanding (Deficit) Equity
<S> <C> <C> <C> <C>
Balance, December 31, 1999 $ - $ (1,495,543) $ 949,977
Purchase of stock for cash - - (20,000)
Shares issued for stock
(Note 3) 14,000 (873,762) (41,011)
Adjusting entries to
reflect reverse acquisition
(Note 3) - 873,762 (600)
Issuance of Series B - - -
Preferred Stock for cash
1for 25 reverse stock
split (Note 6) - - 4,704,451
Issuance of common stock
for conversion of Series A
and Series B Preferred
Stock(Note 6) - - -
Net loss - (1,260,302) (1,260,302)
------------ ----------- -----------
Balance, June 30, 2000 -
consolidated $ 14,000 $ (2,755,845) $ 4,332,515
============ =========== =============
</TABLE>
F-4
<PAGE>
eNexi HOLDINGS, INC.
(Formerly known as Silver King Resources, Inc. and eNexi, Inc.)
STATEMENTS OF CASH FLOWS
(UNAUDITED)
<TABLE>
<CAPTION>
From inception Six months ended
(May 14, 1999) June 30, 2000
through June 30, 1999 (Consolidated)
Cash flows provided by operating activities:
<S> <C> <C>
Net loss $ (146,400) $ (1,260,302)
---------------------- -------------------
Adjustment to reconcile net loss to cash used by operations:
Depreciation - 24,196
Organization costs - 99,416
Changes in assets and liabilities
Accounts receivable - (164,803)
Other current assets - (28,569)
Deposits (115,155) (25,881)
Accounts payable - 89,888
Accrued liabilities 10,868 (7,979)
Other current liabilities - 36,879
---------------------- -------------------
Total adjustments (104,287) 23,147
---------------------- -------------------
Net cash used by operations (250,687) (1,237,155)
Cash flows used by investing activities:
Purchase of property and equipment (47,354) (161,660)
---------------------- -------------------
Net cash used by investing activities (47,354) (161,660)
Cash flows provided by financing activities:
Proceeds from notes payable 359,127 20,183
Purchase of treasury stock - (20,000)
Issuance of common stock 100,250 -
Issuance of preferred stock - 4,704,451
---------------------- -------------------
Net cash provided by financing activities 459,377 4,704,634
---------------------- -------------------
Net increase in cash and cash equivalents 161,336 3,305,819
Cash and cash equivalents, beginning of period - 1,196,675
---------------------- -------------------
Cash and cash equivalents, end of period $ 161,336 $ 4,502,494
====================== ===================
Supplemental disclosures of cash flow information
Cash paid during the period for:
Interest expense $ - $ 12,204
====================== ===================
Supplemental disclosures of non-cash operating, investing, and
financing activities
Issuance of stock for net assets acquired $ - $ 104,687
====================== ===================
</TABLE>
F-5
<PAGE>
eNexi HOLDINGS, INC.
(Formerly known as Silver King Resources, Inc. and eNexi, Inc.)
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 1999 AND 2000
1. INTERIM FINANCIAL INFORMATION
The financial statements of eNexi Holding, Inc. and Subsidiary (the
Company) as of June 30, 2000 and for the six months ended June 30, 2000
and from inception (May 14, 1999) through June 30, 1999, and related
footnote information are unaudited. All adjustments (consisting only of
normal recurring adjustments) have been made which, in the opinion of
management, are necessary for a fair presentation. Results of
operations for the six months ended June 30, 2000 and from inception
through June 30, 1999 are not necessarily indicative of the results
that may be expected for any future period. The balance sheet at
December 31, 1999 was derived from audited financial statements.
Certain information and footnote disclosures, normally included in
financial statements prepared in accordance with generally accepted
accounting principles, have been omitted. These financial statements
should be read in conjunction with the financial statements and notes
for the year ended December 31, 1999.
2. BASIS OF PRESENTATION
The consolidated financial statements include the accounts of the
Company and its Subsidiary. All material intercompany balances and
intercompany transactions have been eliminated.
3. MERGER AND PRIVATE PLACEMENT
On May 19, 2000, the board of directors and stockholders of Silver King
Resources, Inc., a Delaware corporation ("Silver King"), approved and
adopted the Agreement and Plan of Merger, dated as of March 21, 2000,
(the "Agreement"), by and among Silver King and Silver King
Acquisition, Inc. ("Acquisition Corp"), a wholly-owned subsidiary of
Silver King formed for the purpose of the merger. Pursuant to the
Agreement, Silver King issued 6,000,000 shares of its Series A
Convertible Preferred Stock, convertible into 150,000,000 shares of
Silver King's common stock, par value $.0001 per share to the
stockholders of eNexi, Inc., in exchange for 100% of the outstanding
capital stock of eNexi, Inc. Simultaneously, Silver King issued
2,009,864 shares at $2.50 per share of Series B Convertible Preferred
Stock, convertible to 50,246,600 shares of common stock.
In addition, Silver King assumed existing common stock purchase
warrants from eNexi, Inc. which will be exchanged for 25,000,000 shares
of common stock of Silver King at an exercise price of $.10 per share.
Since the former shareholders of eNexi, Inc. acquired control of
the Silver King through Acquisition Corp. upon the completion of the
merger , the merger was accounted for as a reverse acquisition.
Accordingly, for financial statement purposes, eNexi, Inc. was
considered the accounting aquiror and the related business combination
was considered a recapitalization of eNexi, Inc. rather than an
acquisition by Silver King. The historical
F-6
<PAGE>
eNexi HOLDINGS, INC.
(Formerly known as Silver King Resources, Inc. and eNexi, Inc.)
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 1999 AND 2000
3. MERGER AND PRIVATE PLACEMENT (Continued)
financial statements prior to May 19, 2000, will be those of
eNexi, Inc. but the name of the corporation going forward will be
eNexi Holdings, Inc. formerly known as Silver King Resources, Inc.
4. COMMITMENTS
Operating Lease
On July 1, 2000, the Company entered into a new non-cancelable
operating lease for its office space which expires June 30, 2002.
Future minimum lease payments for this new lease are as follows:
<TABLE>
<CAPTION>
In the year ended December 31,
------------------------------
<S> <C>
2000 $ 88,540
2001 180,622
2002 92,082
--------
$361,244
========
</TABLE>
5. SUBSEQUENT EVENTS
Extinguishment of Related Party Debt
In July 2000, the Company has agreed to exchange its 60% interest in
International Capri Resources, SA de CV, which has a carrying value of
$0 on the Company's books for $107,000, which was borrowed on a short
term basis from a former shareholder. The transaction will result in a
gain of $107,000 if consummated.
Payoff of Notes Payable
In July 2000, the Company paid off all of its notes payable totaling
$415,069 plus accrued interest of $1,636.
F-7
<PAGE>
eNexi HOLDINGS, INC.
(Formerly known as Silver King Resources, Inc. and eNexi, Inc.)
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 1999 AND 2000
5. SUBSEQUENT EVENTS (Continued)
Sale of VirtuallyFreeInternet.com
In June 2000, the Company created a wholly owned subsidiary, Viaduct II
(an Indiana corporation). The Company then sold its
VirtuallyFreeInternet.com subscriber base, data base of unserviced
affiliates, and its related domain names, "virtually freeinternet.com"
and "vfmail.com", to Viaduct II for $1.
On June 28, 2000, the Company entered into an agreement to sell its
wholly owned subsidiary, Viaduct II, to Galaxy Online, Inc. (a Yukon
Territory, Canada corporation). The Company exchanged all of the issued
and outstanding common stock of Viaduct II for 342,253 common shares of
Galaxy Online, Inc. The sale was effective and closed on July 10, 2000.
The Company received 85,563 common shares with a per share price of
$1.18 for a total market value of $100,964. In addition, the remaining
256,690 common shares of Galaxy Online, Inc. will be held in escrow
until June 28, 2002. On or before June 28, 2002, Galaxy Online, Inc.
has the option to give the Company the shares held in escrow or
$364,500 in cash.
The following are unaudited pro forma condensed income statements
showing the effects of the sale:
<TABLE>
<CAPTION>
Pro Forma Condensed Income Statements
From inception (May
14, 1999) through Six months ended
June 30, 1999 June 30, 2000
Consolidated
----------------------- -----------------------
<S> <C> <C>
Revenue $ - $ 242,899
=================== ====================
Loss from continuing operations $ - $ (581,099)
=================== ====================
Discontinued operations:
Loss from operations of disposed business
segment $ (147,261) $ (616,570)
=================== ====================
Gain on disposal of business segment $ 100,964 $ 100,964
=================== ====================
Net loss $ (45,436) $ (1,159,338)
=================== ====================
Earnings per share assuming dilution (or diluted earnings per share):
Income from continuing operations $ - $ (0.052)
=================== ====================
Discontinued operations $ (.055) $ (0.046)
=================== ====================
</TABLE>
F-8
<PAGE>
eNexi HOLDINGS, INC.
(Formerly known as Silver King Resources, Inc. and eNexi, Inc.)
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 1999 AND 2000
6. CAPITAL STOCK
Preferred Stock
The Company authorized 6,000,000 shares of preferred stock, $0.0001 par
value per share.
Series A Convertible Preferred Stock
The Company authorized 6,000,000 shares of Series A Convertible
Preferred Stock, $0.0001 par value per share, convertible into 25
shares of common stock. The Series A Convertible Preferred Stock has
voting rights equal to the number of shares of common stock issuable
upon conversion of such shares.
Series B Convertible Stock
The Company authorized 3,000,000 shares of Series B Convertible
Preferred Stock, $0.0001 par value per share, convertible into 25
shares of common stock. The Series B Convertible Preferred Stock has
voting rights equal to the number of shares of common stock issuable
upon conversion of such shares.
Reverse Stock Split
On May 25, 2000, the Company's Board of Directors authorized a 1 for 25
reverse stock split of the Company's $0.0001 par value common stock
effective June 26, 2000, for all common stockholders of record at June
23, 2000. As a result of the reverse split, 41,352,000 shares of common
stock were returned to the Company, and additional paid-in capital was
increased by $4,135. All references in the accompanying financial
statements to the number of common shares and per-share amounts for
June 30, 2000 and the three and six month period then ended have been
restated to reflect the reverse stock split.
Conversion of Preferred Stock
The 1 for 25 reverse stock split authorized by the Company's Board of
Directors on May 25, 2000 will automatically convert the Company's
Series A and Series B Convertible Preferred Stock on a 1 for 1 basis
into shares of common stock, after the reverse stock split.
F-9
<PAGE>
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION
PRIVATE SECURITIES LITIGATION REFORM ACT
The information contained in this Report on Form 10-QSB and in other public
statements by the Company and Company officers include or may contain certain
forward-looking statements. When used in this Report or in such statements, the
words "estimate," "project," "intends," "expects," "believes" and similar
expressions are intended to identify forward-looking statements regarding events
and financial trends which may affect the Company's future operating results and
financial position. Such statements are not guarantees of future performance and
are subject to risks and uncertainties that could cause the Company's actual
results and financial position to differ materially from those included within
the forward-looking statements. Such factors are described in detail in the
Company's Annual Report on Form SB-2 under the caption "RISK FACTORS." Readers
are cautioned not to place undue reliance on these forward-looking statements,
which speak only as of the date made. The Company undertakes no obligation to
publicly release the results of any revision to these forward-looking statements
to reflect events or circumstances after the date made or to reflect the
occurrence of unanticipated events.
OVERVIEW
eNexi Holdings, Inc. (formerly known as Silver King Resources, Inc.) is a
development stage Internet company that creates company-owned direct response
and content delivery web sites. There are two web sites currently in operation:
dollars4mail.com and myquickinfo.com.
Dollars4mail.com provides subscribers with an opportunity to earn money
while using their free web-based email account, while shopping on any one of the
400 affiliated shopping sites, and while playing casino and action games.
Subscribers can also earn money by signing up for other online programs or for
online sweepstakes that are affiliated with the site.
Dollars4mail.com generates revenues by providing Internet advertisers with
a targeted audience for opt-in emails and banner ads and shares revenues with
those subscribers who utilize some or all of the services offered on its web
sites. It also shares a portion of the revenues generated by other subscribers
that they have referred to the site.
Myquickinfo.com, launched on July 31,2000, allows subscribers to create
individualized newsletters from approximately 1,500 headline news links on the
Internet. The web site generates revenues from banner ads placed in the
newsletters and from the sales created through the affiliated shopping sites
that are linked in the newsletters.
During the quarter ended June 30, 2000, the Company also operated the
company-owned web site virtuallyfreeinternet.com, a nationwide Internet service
provider. Revenues from virtuallyfreeinternet.com were $66,093 for the quarter.
On June 28, 2000, the Company signed an agreement to sell the subscriber base to
Galaxy Internet. The sale was consummated on July 10, 2000 in exchange for
342,253 shares of Galaxy common stock. 85,563 shares of the common stock were
unrestricted and those shares were immediately sold. The remaining 256,690
shares are restricted for 24 months.
<PAGE>
The total number of subscribers to company-owned web sites increased
from approximately 30,000 subscribers at March 31, 2000 to approximately 175,000
as of June 30, 2000.
On July 17, 2000, the Company changed its name from Silver King
Resources, Inc. to eNexi Holdings, Inc.
RESULTS OF OPERATIONS
The Company was incorporated on May 14, 1999. From that date, through
June 30, 1999, the Company was in the process of initiating operations and
hiring employees. For these reasons, we believe that comparing the results of
operations for the quarter ended June 30, 2000 to the results of operations for
the quarter ended June 30, 1999 would not provide any meaningful information and
therefore we have not provided such comparative information.
Three Months Ended June 31, 2000
REVENUES; LOSSES. During the period, Company revenues were derived from
two company-owned web sites: dollars4mail.com and virtuallyfreeinternet.com.
Gross revenues from dollars4mail.com were $206,812, representing 75.8% of the
total and gross revenues from virtuallyfreeinternt.com were $66,093,
representing 24.2% of the total. From April 1, 2000 to June 30, 2000, the
Company incurred a loss of $672,229.
COST OF SALES. Costs of sales consist of the costs associated with
connecting members to the Internet, providing email services, points of presence
or POP's (dial-up telephone access), commissions earned by subscribers on all
company-owned web sites, and credit card processing fees. The Company incurred a
total of $100,973 is cost of sales of which $36,927 were associated with
virtuallyfreeinternet.com.
SALES AND MARKETING. Sales and marketing expenses consist of the cost
of Internet advertisements purchased to attract new subscribers to the
company-owned web sites, and new market penetration costs. Total marketing costs
for the quarter were $262,787 of which $56,971 was associated with
virtuallyfreeinternet.com.
ADMINISTRATIVE. During the quarter ended June 30, 2000, administrative
expenses were $513,509. Of the total, labor costs were $275,315 and consulting
costs were $36,496. Administrative costs directly related to
virtuallyfreeinternet.com were $15,729.
On July 1, 2000, the Company signed a new lease and subsequently moved
into a larger location, approximately 7,000 square feet. The lease term is two
years with an option for three additional years.
INTEREST EXPENSE. Interest expense for the quarter was $6,131 and was
derived from notes due to related parties.
F-10
<PAGE>
LIQUIDITY AND CAPITAL RESOURCES
As of June 30, 2000, the Company had cash and cash equivalents of
$4,502,494 and receivables of $166,138. The increase in accounts receivable
relates to dollars4mail.com and the additional sales from advertising companies
whose terms range from 30 to 90 days.
On, May 19, 2000, the Company completed a reverse merger with Silver
King Resources, Inc. In conjunction with the reverse merger, the Company closed
a private placement selling 2,009,864 shares of Series B Convertible Preferred
Stock in exchange for receiving gross proceeds of $5,024,660. The Company
incurred organization costs in completing this reverse merger of $99,416 that
was based on the value of common stock shares of 1,046,868 at an exercise price
of $.10 per share. Refer to Section 3. of the Notes To Financial Statements for
additional information.
F-11
<PAGE>
PART II - OTHER INFORMATION
Item 1. Legal Proceedings
Neither the Company nor any of its property is a party to any pending
or threatened legal proceedings.
Item 2. Changes in Securities and Use of Proceeds
On, May 19, 2000, the Company completed a reverse merger with Silver
King Resources, Inc. The Company received 6,000,000 shares of Series A
Convertible Preferred Stock in exchange for 100% of the common stock of eNexi,
Inc. In conjunction with the reverse merger, the Company closed a private
placement selling 2,009,864 shares of Series B Convertible Preferred Stock in
exchange for receiving gross proceeds of $5,024,660.
On July 17, all Preferred Stock was converted at a rate of 1:25. The
total number of common stock shares after the conversion was 243,321,600.
Simultaneously with the conversion, the Company affected a 25:1 reverse split.
The total numbers of shares outstanding following the 25:1 reverse split were
9,732,864.
Item 3. Defaults Upon Senior Securities
None.
Item 4. Submission of Matters to a Vote of Security Holders
None.
Item 5. Other Events
None.
Item 6. Exhibits and Reports on Form 8-K
(a) Exhibits
Exhibit 27: Financial Data Schedule
(b) Reports on Form 8-K
<TABLE>
<CAPTION>
<S> <C>
Date Reported Event
May 24, 2000 Merger of eNexi, Inc. and Silver King Acquisition, Inc.
July 17, 2000 Amendment to Company's filing on Form 8-K, dated May 24, 2000.
July 25, 2000 Disposition of eNexi's Internet-access-related assets to Galaxy Online, Inc.
</TABLE>
F-12
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused the project to be signed on its behalf by the
undersigned thereto duly authorized.
ENEXI HOLDINGS, INC.
August 14, 2000 By: /s/ Larry Mayle
Larry Mayle
Chief Executive Officer
