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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K /A-1
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 9, 2001
Commission File Number 000-28225
WORLDNET RESOURCE GROUP, INC.
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(Exact Name of Registrant as Specified in its Charter)
Utah 91-2063239
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(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification Number)
920 N. Nash Street
El Segundo, California 90245
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(Address of principal executive offices)
(Zip Code)
(310) 607-0060
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(Registrant's Executive Office Telephone Number)
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ITEM 5. OTHER INFORMATION
On January 3, 2001, the Company and its president, Stephen Brown,
finalized an agreement to stay the collection of a default judgment entered
by the United States District Court, Central District of California against
the Company and Stephen Brown on or about October 16, 2000, in the amount
of $1,204,245.64.
Pursuant to the terms of the Agreement to Stay Collection of Default
Judgment, H.A.A., Inc., Birdie Capital Corporation, Forest Equities and
Steven Berger (the"Plaintiffs") have agreed not to pursue any action to
collect on the default judgment during the 90 day period beginning December
18, 2000, so long as the Company pays Plaintiffs the greater of $150,000 or
25% of all funds raised by the Company in excess of $600,000 by the end of
said 90 day period. If the Company fulfills its payment obligation under
the Agreement, the Agreement will automatically renew at the end of the 90
day period for consecutive 90 day periods, until such time as the judgment,
all post judgment interest and attorneys' fees and costs reasonably
incurred by Plaintiffs have been paid in full. Each time Plaintiffs
receive a payment, they will enter a partial satisfaction of judgment with
the Court in the amount of the payment until the judgment is satisfied in
full.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
Exhibits. The following exhibits are included as part of this report:
Exhibit SEC
Number Ref. Title of Document Location
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10.01 10 Agreement to Stay Collection Attached
of Default Judgment
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this Current Report on Form 8-K to be signed
on its behalf by the undersigned hereunto duly authorized.
WORLDNET RESOURCE GROUP, INC.
Date: January 9, 2000 By /s/ Stephen Brown
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Stephen Brown, President, CEO
Date: January 9, 2000 By /s/ Noel Navarro
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Noel Navarro, Vice President, Secretary
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