VIRTUALSELLERS COM INC
8-K, 2000-12-06
TELEPHONE COMMUNICATIONS (NO RADIOTELEPHONE)
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                                  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)  November  21,  2000
                                                         -------------------
Virtualsellers.com,  Inc.
-------------------------
(Exact  name  of  registrant  as  specified  in  its  charter)

Canada                               000-14356                         911353658
------                               ---------                         ---------
(State  or  other                   (Commission                   (IRS  Employer
jurisdiction of  incorporation)     File  Number)           Identification  No.)

Suite  1000,  120  North  LaSalle  Street,  Chicago,  Illinois             60602
--------------------------------------------------------------             -----
(Address  of  principal  executive  offices)                         (Zip  Code)

Registrant's  telephone  number,  including  area  code  (312)  920-9120
                                                         ---------------

ITEM  2.     ACQUISITION  OR  DISPOSITION  OF  ASSETS

Pursuant to an Asset Purchase Agreement (the "Agreement") dated August 30, 2000,
between Virtualsellers.com, Inc. (the "Company") and GoldPaint Internet Services
Inc.  of  Temecula, California (the "Vendor"), on November 21, 2000, the Company
acquired  all  of  the  assets of the Vendor, including 67 web hosting contracts
between  the  Vendor  and other internet-based businesses, seven programming and
web  design  contracts,  and  certain  computer  hardware,  software  and office
equipment  (the "Assets").  Under the terms of the Agreement, the Company agreed
to  pay to the Vendor 200,000 common shares in the capital stock of the Company,
issued at an agreed deemed value of $0.56 per share.  The number of shares to be
issued to the Vendor was arrived at through negotiations between the Company and
the  Vendor.

The  Company will continue the Vendor's internet services business as a division
of  the  Company.  Pursuant  to  the  Agreement,  the  Company will continue the
employment  of  three of the four employees of the Vendor (the "Employees"), and
in  this  regard,  entered into employment contracts with each of the Employees.
The continued employment of the Employees will significantly add to the internet
services  capacity  of  the  Company.

ITEM  7.     FINANCIAL  STATEMENTS  AND  EXHIBITS

FINANCIAL  STATEMENTS  OF  BUSINESSES  ACQUIRED

It  is  not  practicable to provide financial statements of the acquired company
prepared  in  accordance  with the regulations on the date hereof.  Accordingly,
the  required financial statements will be filed as an amendment to this Current
Report  on  Form 8-K as soon as practicable, but not later than February 4, 2001
(60  days  after  this  Current  Report  on  Form  8-K  must  be  filed).

PRO  FORMA  FINANCIAL  INFORMATION

<PAGE>

It  is not practicable to provide the required pro forma financial statements on
the  date hereof.  Accordingly, the pro forma financial statements will be filed
as  an  amendment to this Current Report on Form 8-K as soon as practicable, but
not  later  than February 4, 2001 (60 days after this Current Report on Form 8-K
must  be  filed).

EXHIBITS

2.     Plan  of  Acquisition

     2.1     Asset Purchase Agreement between the Company and GoldPaint Internet
             Services,  Inc.,  dated  August  30,  2000

     2.2     Intellectual  Property Assignment between the Company and GoldPaint
             Internet  Services,  Inc.,  dated  October  1,  2000

     2.3     Assignment  and  Assumption  Agreement  between  the  Company  and
             GoldPaint  Internet  Services,  Inc.,  dated  October  1,  2000

                                   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.

VIRTUALSELLERS.COM,  INC.


Date:  December  5,  2000          /s/  Dennis  Sinclair
                            Dennis  Sinclair,  President



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