SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM 8-K/A
Amendment No. 2
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act
Date of Report (Date of Earliest Reported) January 17, 2001
Advanced Technologies Group, LTD
(Exact name of registrant as specified in its charter)
Nevada 0-30987 86-0987213
- ------------------------ ------------------------ -----------------------
(State of Incorporation) (Commission File Number) (I.R.S. Employer
Identification Number)
40 Exchange Place 15th Floor New York, NY 10005
(Address of Principal Executive Offices Including Zip Code)
(212) 624 1940
-------------------------------
(Registrant's Telephone Number)
SeventhCai, Inc.
10245 East Via Linda, Suite 220, Scottsdale, AZ 85285
(Former Name or Formaer Address If Changed From Last Report)
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
1. Pro Forma financial Statement of the merged Companies.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant caused this registration statement to be signed on its behalf by the
undersigned thereunto duly authorized.
Date: February 2, 2001 Advanced Technologies Group, LTD
By: /s/Alexander Stelmak
-----------------------------
Alexander Stelmak
Its: President and CEO
2
ADVANCED TECHNOLOGIES GROUP, LTD,
FORMALLY
OXFORD GLOBAL NETWORK LTD.
(A DEVELOPMENT STAGE COMPANY)
PRO-FORMA BALANCE SHEET
AS OF THE YEARS ENDED DECEMBER 31, 2000 AND 1999
2000 1999
----------- -----------
ASSETS
CURRENT ASSETS:
Cash on deposit $ 17,125 $ 753,355
Prepaid expense 13,440 0
Loan receivable 61,225 0
----------- -----------
Total current assets 91,790 753,355
OTHER ASSETS:
Property, plant, and equipment (net of
accumulated depreciation of $3,524,655
at 9/30/00 and $2,373,609 at 12/31/99) 99,792 99,792
Software development costs 999,270 858,892
Note receivable 75,000
Security deposit 19,576 9,436
Patent 10,615 9,590
----------- -----------
Total assets $ 1,296,043 $ 1,731,065
=========== ===========
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES:
Accounts payable & accrued expenses 174,175 199,115
Income taxes payable 7,655 7,655
Notes payable 75,000 0
----------- -----------
Total current liabilities 256,830 206,770
LONG TERM LIABILITIES:
Debentures payable 175,000 0
Common stock 5,641 5,641
Additional paid in capital 3,670,641 3,400,141
Accumulated deficit during the development stage (2,812,069) (1,881,487)
----------- -----------
Total shareholders' equity 864,213 1,524,295
----------- -----------
Total Liabilities & Shareholders' Equity $ 1,296,043 $ 1,731,065
=========== ===========
3
ADVANCED TECHNOLOGIES GROUP, LTD,
FORMALLY
OXFORD GLOBAL NETWORK LTD.
(A DEVELOPMENT STAGE COMPANY)
PRO-FORMA STATEMENT OF OPERATIONS
FOR THE YEAR ENDED DECEMBER 31, 2000
REVENUES:
Gross Sales $ 0
Less cost of sales 0
---------
Gross profit on sales 0
GENERAL AND ADMINISTRATIVE EXPENSES:
Salaries and benefits 188,313
Rent & utilities 50,369
Consulting & professional fees 556,193
Office administration 27,411
Licenses & placement fees 52,540
Communication costs 39,888
Travel & promotion 34,499
Depreciation 0
---------
Total costs and operating expenses 949,213
Net loss from operations (949,213)
OTHER REVENUES AND EXPENSES:
Miscellaneous consulting fee 8,494
Interest income 10,137
---------
Net income before provision for income taxes (930,582)
Provision for income taxes 0
---------
Net loss ($930,582)
=========
4
ADVANCED TECHNOLOGIES GROUP, LTD,
FORMALLY
OXFORD GLOBAL NETWORK LTD.
(A DEVELOPMENT STAGE COMPANY)
PRO-FORMA STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 2000
OPERATING ACTIVITIES:
Net loss $ (930,582)
Adjustments to reconcile net income items
not requiring the use of cash:
Depreciation and amortization 0
CHANGES IN OTHER OPERATING ASSETS AND LIABILITIES:
Prepaid expense (13,440)
Loan receivable (61,225)
Note receivable (75,000)
Security deposit (10,140)
Patent (1,025)
Accounts payable & accrued expenses (24,940)
Income taxes payable 0
Notes payable 75,000
-----------
Net cash provided by operations (1,041,353)
INVESTING ACTIVITIES:
Investment in software development (140,378)
-----------
Net cash used by investing activities (140,378)
FINANCING ACTIVITIES:
Funds received from debenture offering 175,000
Funds received from subscriptions to stock 270,500
-----------
Net cash used by financing activities 445,500
-----------
Net increase (decrease) in cash during the period (736,230)
Cash balance at beginning of fiscal year 753,355
-----------
Cash balance at end of the period $ 17,125
===========
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Interest paid during the fiscal year $ 0
Income taxes paid during the fiscal year $ 13,440
5
ADVANCED TECHNOLOGIES GROUP, LTD,
FORMALLY
OXFORD GLOBAL NETWORK LTD.
(A DEVELOPMENT STAGE COMPANY)
PRO-FORMA STATEMENT OF CHANGES IN SHAREHOLDER EQUITY FOR
THE YEAR ENDED DECEMBER 31, 2000
Common Stock Additional Accumulated
Shares Amount Paid in Capital Earnings Total
------ ------ --------------- -------- -----
Balance at January 1, 2000 5,641,000 $5,641 $3,400,141 ($1,881,487) $ 1,524,295
Subscriptions for common stock 270,500 270,500
Net income for the fiscal year (930,582) (930,582)
--------- ------ ---------- ----------- -----------
Balance at December 31, 2000 5,641,000 $5,641 $3,670,641 ($2,812,069) $ 864,213
========= ====== ========== =========== ===========
6