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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
(Rule 13d-102)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULES 13d-1(b)(c), AND (d) AND AMENDMENTS THERETO FILED
PURSUANT TO RULE 13d-2(b)
(Amendment No. )(1)
NetCurrents, Inc. (formerly known as IAT Resources Corporation)
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock
- --------------------------------------------------------------------------------
(Title of Class of Securities)
64110J 10 1
- --------------------------------------------------------------------------------
(CUSIP Number)
December 22, 1999
- --------------------------------------------------------------------------------
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:
[_] Rule 13d-1(b)
[X] Rule 13d-1(c)
[_] Rule 13d-1(d)
- ----------
(1) The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which
would alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
(SC13G-07/98)
<PAGE>
CUSIP No. 64110J 10 1 13G Page 1 of 4 Pages
________________________________________________________________________________
1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Victor A. Holtorf
________________________________________________________________________________
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [_]
(b) [_]
________________________________________________________________________________
3. SEC USE ONLY
________________________________________________________________________________
4. CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
________________________________________________________________________________
5. SOLE VOTING POWER
NUMBER OF
1,920,433 (includes 0 shares of options exercisable within
SHARES 60 days of December 22, 1999).
_________________________________________________________________
BENEFICIALLY 6. SHARED VOTING POWER
OWNED BY N/A
_________________________________________________________________
EACH 7. SOLE DISPOSITIVE POWER
REPORTING 1,920,433 ((includes 0 shares of options exercisable within
60 days of December 22, 1999).
PERSON _________________________________________________________________
8. SHARED DISPOSITIVE POWER
WITH
N/A
________________________________________________________________________________
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,920,433
________________________________________________________________________________
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[_]
________________________________________________________________________________
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
9.2%
________________________________________________________________________________
12. TYPE OF REPORTING PERSON*
IN
________________________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No. 64110J 10 1 13G Page 2 of 4 Pages
________________________________________________________________________________
Item 1(a). Name of Issuer:
NetCurrents, Inc.
________________________________________________________________________________
Item 1(b). Address of Issuer's Principal Executive Offices:
9720 Wilshire Boulevard, Suite 700
Los Angeles, California 90212
________________________________________________________________________________
Item 2(a). Name of Person Filing:
Victor A. Holtorf
________________________________________________________________________________
Item 2(b). Address of Principal Business Office, or if None, Residence:
Victor A. Holtorf
c/o NetCurrents, Inc.
9720 Wilshire Boulevard, Suite 700
Los Angeles, California 90212
________________________________________________________________________________
Item 2(c). Citizenship:
United States of America
________________________________________________________________________________
Item 2(d). Title of Class of Securities:
Common Stock
________________________________________________________________________________
Item 2(e). CUSIP Number:
64110J 1
1
________________________________________________________________________________
Item 3. If This Statement is Filed Pursuant to Rule 13d-1(b), or 13d-2(b)
or (c), Check Whether the Person Filing is a:
Not Applicable
(a) [_] Broker or dealer registered under Section 15 of the Exchange Act;
(b) [_] Bank as defined in Section 3(a)(6) of the Exchange Act;
(c) [_] Insurance company as defined in Section 3(a)(19) of the Exchange
Act;
(d) [_] Investment company registered under Section 8 of the Investment
Company Act;
(e) [_] An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E);
(f) [_] An employee benefit plan or endowment fund in accordance with
Rule 13d-1(b)(1)(ii)(F);
<PAGE>
CUSIP No. 64110J 10 1 13G Page 3 of 4 Pages
________________________________________________________________________________
(g) [_] A parent holding company or control person in accordance with
Rule 13d-1(b)(1)(ii)(G);
(h) [_] A savings association as defined in Section 3(b) of the Federal
Deposit Insurance Act;
(i) [_] A church plan that is excluded from the definition of an
investment company under Section 3(c)(14) of the Investment
Company Act;
(j) [_] Group, in accordance with Rule 13d-1(b)(1)(ii)(J).
If this statement is filed pursuant to Rule 13d-1(c), check this box. [X]
________________________________________________________________________________
Item 4. Ownership.
Provide the following information regarding the aggregate number and
percentage of the class of securities of the issuer identified in Item 1.
(a) Amount beneficially owned:
1,920,433 shares (includes 0 shares of options exercisable within 60
days of December 22, 1999).
(b) Percent of class:
9.2% (based on 20,826,070 shares outstanding as of December 22,
1999), includes 0 shares of options exercisable within 60 days of
December 22, 1999.
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote
1,920,433 SHARES (INCLUDES 0 SHARES OF OPTIONS EXERCISABLE
WITHIN 60 DAYS OF DECEMBER 22, 1999).
(ii) Shared power to vote or to direct the vote
0 SHARES.
(iii) Sole power to dispose or to direct the disposition of
1,920,433 SHARES (INCLUDES 0 SHARES OF OPTIONS EXERCISABLE
WITHIN 60 DAYS OF DECEMBER 22, 1999).
(iv) Shared power to dispose or to direct the disposition of
0 SHARES.
________________________________________________________________________________
Item 5. Ownership of Five Percent or Less of a Class.
Not Applicable
________________________________________________________________________________
Item 6. Ownership of More Than Five Percent on Behalf of Another Person.
Not Applicable
________________________________________________________________________________
Item 7. Identification and Classification of the Subsidiary Which Acquired the
Security Being Reported on by the Parent Holding Company.
Not Applicable
________________________________________________________________________________
Item 8. Identification and Classification of Members of the Group.
Not Applicable
<PAGE>
CUSIP No. 64110J 10 1 13G Page 4 of 4 Pages
________________________________________________________________________________
Item 9. Notice of Dissolution of Group.
Not Applicable
________________________________________________________________________________
Item 10. Certifications.
"By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were not acquired and are not
held for the purpose of or with the effect of changing or influencing
the control of the issuer of the securities and were not acquired and
are not held in connection with or as a participant in any transaction
having such purpose or effect."
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
December 22, 1999
----------------------------------------
(Date)
/s/ VICTOR A. HOLTORF
----------------------------------------
(Signature)
Victor A. Holtorf / Director
----------------------------------------
(Name/Title)
