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) June 10, 2002
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Return Assured Incorporated
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(Exact name of registrant as specified in its charter)
Delaware 13-3896069
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(State or other jurisdiction (IRS Employer
of incorporation or organization) Identification No.)
1901 Avenue of the Stars,
Suite 1710
Los Angeles, California 90067
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(Address of principal executive offices) (Zip Code)
(877) 807-4664
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(Registrant=s Telephone Number, Including Area Code)
Not Applicable
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(Former Name or Former Address, If Changed since Last Report.)
Item 5. Other Events.
As previously reported, on April 26, 2002, we agreed to acquire all of
the issued and outstanding shares of common stock of EliteJet, Inc., a Nevada
corporation ("EliteJet"), from Scott Walker, the sole shareholder of EliteJet.
EliteJet was incorporated on November 16, 1999. EliteJet is in the
business of owning, managing, operating and chartering aircraft in connection
with providing private and corporate aviation services to individuals and
businesses through its fractional share aircraft ownership program.
EliteJet's fractional ownership program permits customers to acquire a
specific percentage of a limited liability company which entitles them to
utilize EliteJet aircraft for a specified number of flight hours per annum. In
addition, EliteJet provides management, ground support and flight operation
services to customers after the sale. EliteJet's revenues derive from both the
sale of fractional interests as well as management and usage fees charged to
clients in connection with flight operations.
Our previous business involved what we believed to be the world's first
proprietary business-to-business and business-to-consumer value added "Return
Seal of Approval." The Return Assured Seal of Approval was provided to those
merchants that met our criteria. If a customer ordered from a merchant that
displayed our seal, we provided assurance that the merchant displaying the
Return Seal of Approval would honor its stated return policies. We charged the
merchant for our services based on the number of orders placed through that
merchant. Market adoption of this business, however, did not meet forecasted
expectations.
As a result, we have abandoned this business in its entirety. None of
our current operations involve the Return Assured/Return Seal of Approval
business. Our business operations currently focus, and we presently anticipate
that all of our future business operations will focus, on EliteJet and its
fractional aircraft ownership business.
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.
RETURN ASSURED INCORPORATED
Date: June 10, 2002 By: /s/ Matthew Sebal
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Matthew Sebal
President