<PAGE>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
SCHEDULE 13D
(Rule 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(a)
(AMENDMENT NO. ____)(1)
PacificNet.com, Inc.
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
69511V 10 8
--------------------------------------------------------------------------------
(CUSIP Number)
B2B Ltd.
52/F Bank of China Tower
1 Garden Road
Hong Kong
(852) 2514 0300
--------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
July 28, 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 that is the subject of this Schedule 13D, and is
filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the
following box: / /
NOTE. Schedules filed in paper format shall include a signed original
and five copies of the schedule, including all exhibits. SEE Rule 13d-7 for
other parties to whom copies are to be sent.
(Continued on following pages)
(Page 1 of 11 Pages)
---------------------
(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 disclosures provided in a prior cover page.
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 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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CUSIP No. 69511V 10 8 13D Page 2 of 11 Pages
-------------------------------------------- ------------------------------------------
-------- -----------------------------------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
B2B Ltd.
-------- -----------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP *
(a) /X/
(b) / /
-------- -----------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
-------- -----------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS
OO
-------- -----------------------------------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) / /
-------- -----------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Hong Kong
-------- -----------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER
0
----- -----------------------------------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 2,413,890
OWNED BY ----- -----------------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH ----- -----------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
2,413,890
-------------------------- ----- -----------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,413,890
-------- -----------------------------------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
/ /
-------- -----------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
27.3%
-------- -----------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
-------- -----------------------------------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUSIP No. 69511V 10 8 13D Page 3 of 11 Pages
-------------------------------------------- ------------------------------------------
-------- -----------------------------------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
China Internet Global Alliance Limited
-------- -----------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP *
(a) /X/
(b) / /
-------- -----------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
-------- -----------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS
N/A
-------- -----------------------------------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) / /
-------- -----------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Hong Kong
-------- -----------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER
0
----- -----------------------------------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 2,421,523
OWNED BY ----- -----------------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH ----- -----------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
2,421,523
-------------------------- ----- -----------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,421,523
-------- -----------------------------------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
/ /
-------- -----------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
27.4%
-------- -----------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
-------- -----------------------------------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUSIP No. 69511V 10 8 13D Page 4 of 11 Pages
-------------------------------------------- ------------------------------------------
-------- -----------------------------------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Oei Hong Leong
-------- -----------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP *
(a) / /
(b) /X/
-------- -----------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
-------- -----------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS
OO
-------- -----------------------------------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) / /
-------- -----------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Singapore
-------- -----------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER
693,995
----- -----------------------------------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 0
OWNED BY ----- -----------------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 693,995
WITH ----- -----------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
-------------------------- ----- -----------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
693,995
-------- -----------------------------------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
/X/
-------- -----------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.9%
-------- -----------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
-------- -----------------------------------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
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<PAGE>
Item 1. Security and Issuer
This statement relates to the common stock (the "Common Stock") of
PacificNet.com, Inc. f/k/a Creative Master International, Inc. (the "Company"),
a Delaware corporation, with its principal executive offices at Casey Industrial
Building, 8th Floor, 18 Bedford Road, Taikoktsui, Kowloon, Hong Kong.
Item 2. Identity and Background
This statement is being filed by (1) B2B Ltd., a corporation organized and
existing under the laws of Hong Kong, with its principal executive and business
offices at 52/F Bank of China Tower, 1 Garden Road, Hong Kong, (2) China
Internet Global Alliance Limited, a corporation organized and existing under the
laws of Hong Kong, with its principal executive and business offices at 52/F
Bank of China Tower, 1 Garden Road, Hong Kong, and (3) Oei Hong Leong, a citizen
of Singapore, resides at 48A Dalvey Road, Singapore 259452 (collectively, the
"reporting persons"). B2B Ltd. is an investment holding company wholly owned by
China Internet Global Alliance Limited. Oei Hong Leong is Chairman and Chief
Executive Officer of China Internet Global Alliance Limited.
The attached Schedule I is a list of the executive officers and directors
of the reporting persons, persons that may be deemed to be controlling persons
of the reporting persons and each executive officer and director of any
corporation or other person ultimately in control of the reporting persons,
which contains the following information with respect to each person listed on
such schedule:
- name and representative through which it acts, if any;
- residence address or principal business address and, if different,
address of principal office;
- principal business or present principal occupation or employment and,
if applicable, the name, principal business and address of any
corporation or other organization in which such employment is
conducted; and
- citizenship or place of organization.
During the past five years, none of the reporting persons nor, to the best
of the reporting persons' knowledge, any person named on Schedule I has been
convicted in a criminal proceeding (excluding traffic violations or similar
misdemeanors).
During the past five years, none of the reporting persons nor, to the best
of the reporting persons' knowledge, any person named on Schedule I has been a
party to a civil proceeding of a judicial or administrative body of competent
jurisdiction as a result of which it was or is subject to a judgment, decree or
final order enjoining future violations of, or prohibiting or mandating
activities subject to, United States Federal or state securities laws or finding
any violation with respect to such laws.
(Page 5 of 11 Pages)
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Item 3. Source and Amount of Funds or Other Consideration
Upon the completion of the PacificNet ("PNC") acquisition of the Company on
July 28, 2000 (the "Closing"), (1) the owners of PNC, including but not limited
to B2B Ltd., Oei Hong Leong Catherine Ma Wai Man (collectively, the "PNC
Members"), surrendered and assigned to the Company all membership interests in
PNC ("Membership Interests") issued and outstanding immediately prior to the
Closing and (2) the Company issued to the PNC Members, pro rata in accordance
with their relative ownership of Membership Interests, an aggregate of 7,166,666
shares of Common Stock. As a result of this exchange, PNC became a wholly-owned
subsidiary of the Company and the PNC Members became the principal stockholders
of the Company, holding in excess of 80% of the Common Stock outstanding
immediately following the Closing.
Following the Closing, the Company's primary business focus will be PNC's
business-to-business electronic commerce services and solutions. Although the
Company's business of manufacturing collectible-quality, die-cast replicas of
cars, trucks, buses and other items will continue for an indefinite period, PNC
has indicated its interest in disposing of such business.
The PNC acquisition was conditioned upon, among other things, the Company
receiving resignations from all but one of its directors at the Closing.
Following the Closing, the Board of Directors of the Company will be increased
to eight members and seven directors designated by PNC will be appointed to the
Board of Directors.
The PNC acquisition was also conditioned upon the Company amending its
Certificate of Incorporation to increase the number of authorized shares of
Common Stock from 25,000,000 to 125,000,000.
Item 4. Purpose of Transaction
Other than as described in Item 3, none of the reporting persons nor any
person named on Schedule I hereto has plans or proposals which would result in
or relate to (a) the acquisition by any person of additional securities of the
issuer, or the disposition of securities of the issuer; (b) an extraordinary
corporate transaction, such as a merger, reorganization or liquidation,
involving the issuer or any of its subsidiaries; (c) a sale or transfer of a
material amount of assets of the issuer or of any of its subsidiaries; (d) any
change in the present board of directors or management of the issuer, including
any plans or proposals to change the number or term of directors or to fill any
existing vacancies on the board; (e) any material change in the present
capitalization or dividend policy of the issuer; (f) any other material change
in the issuer's business or corporate structure, including by not limited to, if
the issuer is a registered closed-end investment company, any plans or proposals
to make any changes in its investment policy for which a vote is required by
Section 13 of the Investment Company Act of 1940; (g) changes in the issuer's
charter, bylaws or instruments corresponding thereto or other actions which may
impede the acquisition of control of the issuer by any person; (h) causing a
class of securities of the issuer to be delisted from a national securities
exchange or to cease to be authorized to be quoted in an inter-dealer quotation
system of a registered national securities association; (i) a class of equity
securities of the issuer becoming eligible for termination of registration
pursuant to Section 12 (g)(4) of the Act; or (j) any action similar to any of
those enumerated above.
(Page 6 of 11 Pages)
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Item 5. Interest in Securities of the Issuer
(a) As of the date hereof, B2B Ltd. directly beneficially owned 2,413,890
shares of Common Stock, representing 27.3% of the class. As of the date
hereof, China Internet Global Alliance Limited indirectly beneficially
owned 2,421,523 shares of Common Stock, representing 27.4% of the
class, due to (1) its 100% ownership of B2B Ltd. and (2) its partial
ownership of China Pharmaceutical Industrial Limited, a subsidiary
which beneficially owned 7,633 shares of Common Stock as of the date
hereof. As of the date hereof, Oei Hong Leong directly beneficially
owned 693,995 shares of Common Stock, representing 7.9% of the class.
Oei Hong Leong disclaims beneficial ownership of the shares reported
herein as beneficially owned by B2B Ltd. and China Internet Global
Alliance. None of the persons named on Schedule I beneficially owned
shares of Common Stock, other than Catherine Ma Wai Man, Director of
China Internet Global Alliance Limited, who beneficially owned 18,104
shares of Common Stock representing 0.2% of the class.
(b) B2B Ltd. and China Internet Global Alliance Limited have shared power
to vote and to dispose of 2,413,890 shares of Common Stock. China
Pharmaceutical Industrial Limited and China Internet Global Alliance
Limited have shared power to vote and to dispose of 7,633 shares of
Common Stock. The executive officers, directors and controlling
persons of China Pharmaceutical Industrial Limited, and executive
officers and directors of any person ultimately in control of China
Pharmaceutical Industrial Limited, are as follows: Lien Kait Long, Li
Ling Xiu and Catherine Ma Wai Man of 52/F Bank of China Tower, 1
Garden Road, Hong Kong, and Ian Jame Burton of 2/F 45 Stirling
Highway, Nedlands, WA 6009, Australia. Oei Hong Leong has sole power
to vote and to dispose of 693,995 shares of Common Stock. Catherine Ma
Wai Man has sole power to vote and to dispose of 18,104 shares of
Common Stock.
(c) Other than as described in Item 3 and as described herein, neither the
reporting persons nor any person named in Schedule I effected any
transactions in the Company's Common Stock during the past 60 days.
China Pharmaceutical Industrial Limited, located at 52/F, Bank of China
Tower, 1 Garden Road, Hong Kong, purchased on the open market 18,900
shares of Common Stock at US $4.9501 per share on July 14, 2000, and
4,000 shares of Common Stock at US $4.9813 per share on July 19, 2000.
As a result of these transactions, and the Company's subsequent 3:1
reverse split, China Pharmaceutical Industrial Limited came to own
7,633 shares of Common Stock.
(d) The reporting persons know of no other person who has the right to
receive or the power to direct the receipt of dividends from, or the
proceeds from the sale of, the securities reported herein.
(e) The reporting persons are the beneficial owner of more than five
percent of the class.
(Page 7 of 11 Pages)
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Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to
Securities of the Issuer.
No contracts, arrangements, understandings or relationships (legal or
otherwise) exist among the persons named in Item 2 and between such persons and
any person with respect to any securities of the Company, including but not
limited to transfer or voting of any of the securities, finder's fees, joint
ventures, loan or option arrangements, puts or calls, guarantees of profits,
division of profits or loss, or the giving or withholding of proxies.
Item 7. Material to be filed as Exhibits
1) The Share Exchange Agreement, dated as of February 17, 2000, by and
between Creative Master International, Inc. and Tony Tong, Wan Sang
Hui, Lee Li, James Mullen, John Farrell, Paul Poung - Hwa Chow, Fung Oi
Ip Alfonso, Oei Hong Leong, Fortune E-Commerce Limited, B2B Limited,
the owner of PacificNet.com, LLC and PNC.
2) The Supplement to the Share Exchange Agreement, dated as of April 29,
2000, among Creative Master International, Inc., PacificNet.com, LLC,
and the members of PNC and other persons and entities listed on the
signature pages thereto.
(Page 8 of 11 Pages)
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SCHEDULE I
The name, business address, principal occupation or employment and
citizenship of each Executive Officer, Director, Controlling Persons and
Executive Officers and Directors of any person ultimately in control of the
reporting persons is set forth below:
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NAME AND REPRESENTATIVE RESIDENCE ADDRESS OR PRINCIPAL BUSINESS OR CITIZENSHIP OR PLACE OF
THROUGH WHICH IT ACTS PRINCIPAL BUSINESS ADDRESS PRESENT PRINCIPAL ORGANIZATION
AND IF DIFFERENT, ADDRESS OCCUPATION OR EMPLOYMENT
OF PRINCIPAL OFFICE AND IF APPLICABLE, THE
NAME, PRINCIPAL BUSINESS
AND ADDRESS OF ANY
CORPORATION OR OTHER
ORGANIZATION IN WHICH SUCH
EMPLOYMENT IS CONDUCTED
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------------------------------- ---------------------------- ---------------------------- ----------------------------
Ma Wai Man, Flat A, 12/F, Glory Director Hong Kong
Catherine Heights, 52 Lyttelton China Internet Global
Road, Mid-Level, Alliance Limited &
Hong Kong B2B Limited
52/F, Bank of China Tower,
1 Garden Road, Hong Kong
------------------------------- ---------------------------- ---------------------------- ----------------------------
Lien Kait Long c/o 52/F, Bank of China Director Singapore
Tower, 1 Garden Road, China Internet Global
Hong Kong Alliance Limited &
B2B Limited
52/F, Bank of China Tower,
1 Garden Road, Hong Kong
------------------------------- ---------------------------- ---------------------------- ----------------------------
Li Ling Xiu c/o 52/F, Bank of China Director China
Tower, 1 Garden Road, B2B Limited
Hong Kong 52/F, Bank of China Tower,
1 Garden Road, Hong Kong
------------------------------- ---------------------------- ---------------------------- ----------------------------
Fok Kin Ning Canning c/o 52/F, Bank of China Director Australia
Tower, 1 Garden Road, China Internet Global
Hong Kong Alliance Limited 52/F,
Bank of China Tower, 1
Garden Road, Hong Kong
------------------------------- ---------------------------- ---------------------------- ----------------------------
(Page 9 of 11 Pages)
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------------------------------- ---------------------------- ---------------------------- ----------------------------
Feng Chuan Chia c/o 52/F, Bank of China Director Singapore
Tower, 1 Garden Road, Hong China Internet Global
Kong Alliance Limited 52/F,
Bank of China Tower, 1
Garden Road, Hong Kong
------------------------------- ---------------------------- ---------------------------- ----------------------------
Tang Wei, Donald c/o 52/F, Bank of China Director USA
Tower, 1 Garden Road, Hong China Internet Global
Kong Alliance Limited 52/F,
Bank of China Tower, 1
Garden Road, Hong Kong
------------------------------- ---------------------------- ---------------------------- ----------------------------
David Edwin Bussmann c/o 52/F, Bank of China Director USA
Tower, 1 Garden Road, Hong China Internet Global
Kong Alliance Limited 52/F,
Bank of China Tower, 1
Garden Road, Hong Kong
------------------------------- ---------------------------- ---------------------------- ----------------------------
Edith Shih c/o 52/F, Bank of China Director Hong Kong
Tower, 1 Garden Road, Hong China Internet Global
Kong Alliance Limited 52/F,
Bank of China Tower, 1
Garden Road, Hong Kong
------------------------------- ---------------------------- ---------------------------- ----------------------------
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(Page 10 of 11 Pages)
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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.
August 7, 2000 B2B Ltd.
By: /s/ Catherine Ma
----------------------------------------
Name: Ma Wai Man, Catherine
--------------------------------------
Its: Director
---------------------------------------
August 7, 2000 China Internet Global Alliance Limited
By: /s/ Catherine Ma
----------------------------------------
Name: Ma Wai Man, Catherine
--------------------------------------
Its: Director
---------------------------------------
August 7, 2000 /s/ Oei Hong Leong
-------------------------------------------
Oei Hong Leong
(Page 11 of 11 Pages)
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EXHIBIT INDEX
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EXHIBIT
NUMBER DESCRIPTION
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1 The Share Exchange Agreement, dated as of February 17, 2000,
by and between Creative Master International, Inc. and
Tony Tong, Wan Sang Hui, Lee Li, James Mullen, John Farrell,
Paul Poung - Hwa Chow, Fung Oi Ip Alfonso, Oei Hong Leong,
Fortune E-Commerce Limited, B2B Limited, the owner of
PacificNet.com, LLC and PNC.
2 The Supplement to the Share Exchange Agreement, dated as
of April 29, 2000, among Creative Master International,
Inc., PacificNet.com, LLC, and the members of PNC and
other persons and entities listed on the signature pages
thereto.
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