UNITED STATES
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):
July 24, 2000
Commission File Number: 000-26969
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YOUR BANK ONINE.COM, INC.
(Exact name of registrant as specified in its charter)
Colorado, U.S.A. 84-1343219
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
6912 220th Street SW, Mountlake Terrace, Washington 98043
(Address of principal executive offices)
(425) 672-6735
(Issuer's telephone number, including area code)
Consolidated Data, Inc.
(Former name, former address and former fiscal year,
if changed since last report)
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Item 2. Acquisition or Disposition of Assets
Your Bank Online.com, Inc. ("YBOL") has, as of July 24, 2000,
completed its planned acquisition, of Genesis Capital Co., Ltd.,
("Genesis") formerly a privately-held company based in South
Korea. Genesis Capital, a profitable corporation, offers
financial services to financial institutions in the Asian
marketplace, primarily in Korea. The acquisition, funded by
2,000,000 shares of Common Stock; $100,000 cash; and $400,000 in
a convertible debenture, will allow YBOL to access the Asian
markets.
Korea is the 11th largest economic nation in the world, with one
of the fastest growing Internet audiences. Economic conditions
and capital structure are rebounding, drawing comparisons to the
United States during the mid-1990's. Government officials and
business leaders are committed to Korea's economic viability.
Numerous laws have been enacted to allow for the expansion of
Korea into the global economy and to remove barriers to trade.
Genesis is involved in joint partnerships with numerous Korean-
based financial institutions and is well-positioned to capitalize
on the opportunities that will be presented. The acquisition of
Genesis, combined with other planned acquisitions, should allow
YBOL access to the Korean market, thereby providing continuous
opportunities for technology implementation and Internet and MIS
management. These opportunities include: the real estate market;
the venture capital market; the mutual fund and/or stock market
and/or fund management; restructuring opportunities in Korea; and
the ability to manage projects and provide management consulting
assistance. Genesis perceives the growth of Korea's fifty-plus
venture capital firms and their ability to manage funds as
important key success factors.
A major objective of Genesis is to establish a private investment
fund consisting of pre-selected Korean investors. Genesis is
presently positioned to manage a fund valued at $100,000,000
(U.S. dollars), which is being structured as a joint venture
between a major Korean company and a U.S. group. Mr. Robert D.
Ghim, Chief Executive Officer and Chairman of Genesis, expects
this dollar amount to grow in the near future. Furthermore, Mr.
Ghim is hopeful that this acquisition will be positive, and allow
Genesis to reach its goals.
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.
Dated: July 28, 2000
YOUR BANK ONLINE.COM, INC.
/s/ Pakie V. Plastino
Pakie V. Plastino
President and C.E.O.
