UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
Report of Foreign Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
For the month of January, 2001
INVESTORLINKS.COM INC. (Formerly: Opus Minerals Inc.)
--------------------------------------------------------
(Translation of registrant's name into English)
Suite 203, 120 Front Street East, Toronto, Ontario, M5A 4L9
-----------------------------------------------------------
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports
under cover form 20-F or Form 40-F:
Form 20-F X Form 40-F
--------- ---------
Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2b under the Securities Exchange Act of 1934:
Yes No X
--------- ---------
January 2, 2001
Ontario Securities Commission
Alberta Securities Commission
British Columbia Securities Commission
Canadian Venture Exchange
Dear Sirs:
RE: CONFIRMATION OF MAILING
- ----------------------------
WE HEREBY CERTIFY that on December 29, 2000 the unaudited Consolidated Balance
Sheet, Consolidated Statement of Cash Flows and the Consolidated Statement of
Operations together with Notes, for the six month period ended October 31, 2000
were mailed to all those shareholders who requested interim financial statements
pursuant to our compliance with National Policy 41.
If you have any questions, please do not hesitate to contact the undersigned
Yours truly
INVESTORLINKS.COM INC.
Per: "Sandra J. Hall"
Secretary
CONSOLIDATED BALANCE SHEET
(Unaudited)
As at October 31, 2000
ASSETS
Current
Cash $ 1,060,397
Short term investments 2,412,172
Accounts receivable and prepaid expenses 146,532
-----------
3,619,101
Property and equipment 168,998
Deposits 5,343
Investments 418,333
Organization costs 3,507
Internet investment site costs 371,700
-----------
$ 4,586,982
===========
LIABILITIES AND SHAREHOLDERS' EQUITY
Accounts payable and accrued liabilities $ 148,158
-----------
Shareholders' Equity
Share Capital 5,063,410
Foreign Exchange Translation Adjustment 29,392
Deficit (653,978)
-----------
4,438,825
-----------
$ 4,586,982
===========
The accompanying notes are an integral part of these unaudited consolidated
financial statements.
CONSOLIDATED STATEMENT OF OPERATIONS
(Unaudited)
For the six month period ended October 31, 2000
Revenue
Advertising and sponsorship $ 79,566
Interest income 40,487
----------
120,053
Expenses
Amortization 6,614
Depreciation 4,856
General and administrative 232,110
Insurance 2,340
Interest 11,636
Investor relations 78,693
Business development 223,286
Professional fees 72,985
Salaries and consulting 188,396
Shareholder information and annual meeting 21,251
Transfer agent fees 9,583
----------
851,750
----------
Loss for the period before the undernoted item 731,698
Unrealized foreign exchange gain (77,719)
----------
Net loss for the period $ 653,978
==========
Net loss per share $ 0.04
==========
The accompanying notes are an integral part of these unaudited consolidated
financial statements.
CONSOLIDATED STATEMENT OF CASH FLOWS
(Unaudited)
For the six month period ended October 31, 2000
Cash provided by (used in)
Operating activities
Net loss for the period $ (653,978)
Add items not requiring an outlay of cash
Amortization 6,614
Depreciation 4,856
Unrealized gain on foreign exchange 29,392
Shares issued for business development 223,286
-----------
(389,830)
Net changes in non-cash working capital
Decrease in accounts receivable 72,561
Decrease in accounts payable and
accrued liabilities (35,139)
-----------
(352,408)
-----------
Investing activities
Proceeds from sale of marketable securities 278,600
Short term investments (1,665,368)
Purchase of capital assets (123,043)
Web site design (48,988)
Organization costs (3,829)
Leasehold improvements (4,008)
-----------
(1,566,636)
-----------
Financing activities
Deposits (5,343)
Repayment of loan payable (458,273)
Issuance of common shares 3,316,481
-----------
2,852,865
-----------
Increase in cash 933,821
Cash, beginning of period 126,576
-----------
Cash, end of period $ 1,060,397
===========
The accompanying notes are an integral part of these unaudited consolidated
financial statements.
INVESTORLINKS.COM INC.
Notes to Unaudited Consolidated Financial Statements
For the Six Months Ended October 31, 2000
On July 25, 2000 the Company amended its Articles and changed its name from Opus
Minerals Inc. to Investorlinks.com Inc.
1. Basis of Presentation
These financial statements include the accounts of Investorlinks.com Inc.
("Investorlinks" or the "Company") and its wholly owned subsidiary IL Data
Canada, Inc. "IL Canada", a Canadian company, who owns IL Data Corporation, Inc.
(IL Nevada") who owns and operates the Internet investment site
www.investorlinks.com. All dollar amounts referred to herein are Canadian
Dollars unless indicated otherwise.
2. Business Acquisitions and Combination
On June 6, 2000, the following transactions occurred:
(a) Business Acquisitions
(i) IL Canada, a newly incorporated inactive company, acquired all of the
issued shares of IL Nevada, a newly incorporated inactive company for US
$6,800 cash.
(ii) IL Nevada acquired the unincorporated business, InvestorLinks.com LLC
("LLC") from a person who became a director of the Company and the
director's spouse for US $300,000 cash.
The net assets acquired at fair value are as follows:
IL Nevada Investorlinks.com LLC
US Dollars US Dollars
---------- ----------
Cash $6,800 $ 5,500
Current Assets - 68,483
Capital Assets - 26,500
Current Liabilities - (21,737)
------ --------
Net Assets 6,800 78,746
Consideration 6,800 300,000
------ --------
Excess of consideration given over net assets
acquired (1) $ - $221,254
------ --------
- -------------------
(1) The excess of consideration given over the net assets of LLC acquired
is attributed to the cost of the Internet investment site.
(b) Business Combination
On June 6, 2000, after the business acquisitions referred to in Note 2(a),
Investorlinks acquired all of the issued shares of IL Canada for consideration
of 6,800,000 common shares of the Company having a stated value of $1,700,000.
After this transaction, the shareholders of IL Canada owned 47% of the issued
shares of Investorlinks. The business combination has been accounted for as a
reverse take-over of Investorlinks by IL Canada.
Application of reverse take-over accounting results in the following:
(i) IL Canada is deemed to be the acquirer for accounting purposes; its assets
and liabilities are included in the consolidated balance sheet at their
carrying values.
(ii) The consolidated balance sheet combines the assets and liabilities of
Investorlinks as an acquisition under the purchase method of accounting.
The net assets acquired at fair value as at June 6, 2000 are as follows:
Canadian Dollars
- ------------------------------------------------------------------------------------
Cash and short term investments $ 840,413
Marketable securities 696,933
Current assets 117,855
Capital assets 9,553
Current liabilities (151,163)
----------
Consideration attributed to the stated capital of the shares issued $1,513,591
==========
- ----------------------------------------------------------------------------------
3. Share Capital
(a) Authorized
Unlimited non-participating, redeemable, voting preference shares
Unlimited common shares
(b) Issued
Preference Shares - Nil
Common shares issued prior to the reverse takeover:
Investorlinks Number of Shares Stated Capital
- --------------------------------------------------------------------------------
Balance at April 30, 2000 6,944,576 $6,222,102
Options exercised 300,000 75,000
Warrants exercised 300,000 105,000
--------- ----------
Balance at June 5, 2000 7,544,576 $6,402,102
========= ==========
- --------------------------------------------------------------------------------
IL Canada Number of Shares Stated Capital
- --------------------------------------------------------------------------------
Common shares issued upon
incorporation for cash and
balance as at June 6, 2000 6,800 $10,052
- --------------------------------------------------------------------------------
Common shares issued from the date of the reverse takeover:
Number of Stated
Investorlinks Shares Capital
- --------------------------------------------------------------------------------
Balance as at date of reverse take-over (1) 7,544,576 $ 10,052
Issued on acquisition 6,800,000 1,513,591
Warrants exercised 3,000,000 1,050,000
Issued per Private placement 680,000 2,266,481
Issued per strategic alliance service agreement 1,500,000 5,168,813
(Note 7) ---------- -----------
19,524,576 10,008,937
Shares to be released (Note 7) (1,433,333) (4,945,527)
---------- -----------
Balance as at October 31, 2000 18,091,243 $ 5,063,410
========== ===========
- --------------------------------------------------------------------------------
(1) The balance as at the date of the reverse take-over consists of the number
of shares issued in the Company and the stated capital of IL Canada.
(c) Common Share Purchase Options
Options outstanding, beginning of period 630,000
Granted 961,000
Exercised (300,000)
---------
Options outstanding, end of period 1,291,000
=========
At October 31, 2000 the following common share purchase options are
outstanding:
Number of Exercise
Issued to Outstanding Price Expiry Date
- ------------------------------------------------------------------------------
Director 30,000 $0.30 August 3, 2002
Consultants 300,000 $0.90 November 15, 2001
Directors 553,000 US $2.55 June 30, 2005
Employees 24,000 US $2.55 June 30, 2005
Consultant 9,000 US $2.55 June 30, 2005
Advisory Board 225,000 US $2.55 June 30, 2005
Consultant 150,000 US $2.55 June 30, 2002
- ------------------------------------------------------------------------------
(d) Common Share Purchase Warrants
Warrants outstanding, beginning of period 3,340,000
Issued 680,000
Exercised (3,300,000)
Expired (40,000)
----------
Warrants outstanding, end of period 680,000
==========
At October 31, 2000 the following common share purchase warrants are
outstanding:
Shares for Exercise Expiry
Number of Outstanding Warrants Price Date
- --------------------- -------- ----- ----
680,000 1 for 1 US $3.00 August 8, 2002
4. Comparative Financial Statements
There are no comparative financial statements as IL Canada, the acquiring
company, was a newly incorporated inactive company.
5. Loss Per Share
The loss per share figure has been calculated using the weighted average
number of common shares outstanding during the period. Exercise of common
share purchase options and common share purchase warrants would be anti-
dilutive.
6. Segmented Information
The Company owns and operates the Internet investment site
www.investorlinks.com indirectly through its subsidiary. The Company's
revenue and capital assets, net of depreciation, have been identified based
on geographic areas as follows:
For the period ended October 31, 2000 Canada United States
- --------------------------------------------------------------------------------
Revenue $35,703 $ 84,350
Capital assets, net $ 9,553 $159,445
- --------------------------------------------------------------------------------
7. Supplementary Cash Flow Information
The Company entered into a strategic alliance service agreement, effective
August 2, 2000 with a global financial content firm to provide business
development services. As consideration for the services to be provided over
twenty-nine months following the effective date, the Company will release
common shares on the basis of one common share for each US $2.25 of services
provided for a total of up to 1,500,000 common shares for total consideration
of US $3,375,000. Under the terms of the agreement the Company released
66,667 earned common shares with a value of US $150,000 on August 9, 2000.
The remaining 1,433,333 shares to be released will be in lots of 66,667
shares or US $150,000 of services rendered.
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, thereunto duly authorized.
INVESTORLINKS.COM INC. (formerly Opus
Minerals Inc.)
Date: January 22, 2001 By: /s/ Sandra J. Hall
------------------- --------------------------------------------
Sandra J. Hall, Director and Secretary