UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
(Amendment No.1)
of
Van R. Perkins
Under the Securities Exchange Act of 1934
TUTORNET.COM GROUP, INC.
(Name of Issuer)
Class A Common Stock, $.00001 par value
(Title of Class of Securities)
901113 100
(CUSIP Number)
LAZ L. SCHNEIDER, ESQ.
Berger Davis & Singerman
350 East Las Olas Boulevard, Suite 1000
Fort Lauderdale, Florida 33301
954 525-9900
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
November 30, 2000
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1 (e), Rule 13d-1 (f) and Rule 13 d-1(g), check the
following box |_|.
The information required on 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 ("Act") 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).
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SCHEDULE 13D
CUSIP No. 901113 100
1. NAME OF REPORTING PERSON
Van R. Perkins is the sole shareholder of Business Development
Corporation, a Colorado corporation, which is the record owner of the
securities.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |_|
3. SEC USE ONLY
4. SOURCE OF FUNDS*
WC
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e)
|-|
6. CITIZENSHIP OR PLACE OF ORGANIZATION
Colorado
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSONS WITH:
7. SOLE VOTING POWER
3,112,066
8. SHARED VOTING POWER
0
9. SOLE DISPOSITIVE POWER
3,112,066
10. SHARED DISPOSITIVE POWER
0
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,112,066
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES*
|_|
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13.21% (Based on Issuer's 10-Q for period ended September 30, 2000)
14. TYPE OF REPORTING PERSONS*
IN
SCHEDULE 13D
PRELIMINARY NOTE
This Amendment No. 1 amends the Schedule 13D filed by Van R. Perkins on
June 8, 2000 (the "13D").
This Amendment No. 1 relates to the class of common stock par value
$0.00001 per share (the "Shares") and Warrants to purchase Shares; of
Tutornet.com Group, Inc., a Delaware corporation (the "Issuer"). The address of
the principal executive offices of the Issuer is 1036 Leigh Mill Road, Great
Falls, VA 22066.
The person filing this statement is Van R. Perkins, a citizen of the
United States of America (the "Reporting Person"). The record owner of the
Shares is Business Development Corporation all of the capital stock of which is
owned by Reporting Person. The business address of Van R. Perkins is 340 Sunset
Drive, Suite 1203, Ft. Lauderdale, FL 33301. The principal office of Business
Development Corporation is c/o Van R. Perkins, 340 Sunset Drive, Suite 1203, Ft.
Lauderdale, FL 33301. Van R. Perkins and Business Development Corporation are
sometimes hereafter referred to collectively as "Reporting Persons".
This Amendment No. 1 is being filed to amend responses to Items 3, 5(c)
and 6 of the 13D because Business Development Corporation entered into a
Settlement Agreement with the Issuer and other parties dated as of November 22,
2000 (the "Settlement Agreement") whereby the Issuer agreed to reduce the
exercise or conversion price from $.50 a share to $.05 a share for the 2,500,000
warrants for Class A common stock (the "Series "A" Warrants") of the Issuer
previously granted to Business Development Corporation.
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Other than as set forth below, to the best knowledge of Van R. Perkins,
there has been no material change in the information set forth in response to
Items of the 13D except as set forth in the amendments thereto below. These
amendments are filed in lieu of an amended and restated 13D.
Item 3. Source and Amount of Funds or Other Consideration
Item 3 is amended to add the following as the last paragraph to that
Item:
As of November 22, 2000, Business Development Corporation entered into
a Settlement Agreement with GJM Trading Partners, Ltd., the Issuer and Euburn
Forde, pursuant to the terms of which, among other acts, the Issuer shall reduce
the previously agreed upon conversion or exercise price of the Series "A"
Warrants granted to GJM Trading Partners, Ltd. and Business Development
Corporation from $.50 a share to $.05 a share, subject to nondilution of shares
to be acquired by exercise of the Series "A" Warrants.
Item 5. Interest in Securities of the Issuer
Item 5 (c) is amended to add the following as the second sentence:
As of November 22, 2000, the Issuer agreed to reduce the conversion or
exercise price of these Series "A" Warrants from $.50 to $.05 per share.
Item 6. Contract, Arrangements, Understanding or Relationships with respect to
the Securities of the Issuer
Item 6 is amended to delete the last sentence of Item 6 and substitute
the following paragraph:
GJM Trading Partners Ltd. and Business Development Corporation filed
actions against the Issuer for breach of contract (Docket No. 191066) and
fraudulent misrepresentation (Docket No. 191065) in the Circuit Court of Fairfax
County, Virginia. As of November 22, 2000, the parties to the lawsuits entered
into a Settlement Agreement, pursuant to which, among other acts and in
settlement of the lawsuits, the Issuer agreed to reduce the exercise price on
the Series "A" Warrants granted to GJM Trading Partners, Ltd. and Business
Development Corporation, from $.50 a share to $.05 a share, subject to
nondilution of shares to be acquired under the Series "A" Warrants.
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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.
Dated: December 21, 2000
By: /s/ Van R. Perkins
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Exhibits: None.
