UNITED STATES
SECURITIES EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K/A
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) October 2, 2001
AMAC, INC.,
(Exact name of registrant as specified in its charter)
Delaware 133944580
---------------------- ------------------
State of Incorporation IRS Employer ID No.
590 Madison Avenue, New York, NY 10022
-------------------------------- ------------------
Address of principal Executive Offices Zip Code
Registrant's Telephone Number (212) 521-4497
Item 1. Change in Control of Registrant
On October 2, 2001, the Company acquired 9,500 shares of
common stock, $1.00 par value, of EUROPORTAL INC T/A AUTO DATA
GROUP, (hereinafter "Auto Data Group") a company incorporated
under the laws of the State of Delaware.
The acquisition was consummated by the execution of an
Acquisition Agreement dated October 2, 2001. The shares
acquired by the Company represented all of Auto Data Group's then
currently issued and outstanding common stock in a tax free
stock-for-stock acquisition. The aggregate purchase price paid
by the Company for the Auto Data Group common shares was
9,500,000 newly issued shares of post-reverse split shares of
voting common stock of the Company, $0.001 par value. These
shares were be issued to the sellers of the Auto Data Group
shares subsequent to a 1 for 25 reverse split of the voting
common stock by the Company of its voting common stock.
As a result of the foregoing transaction, there was a change in
control of the company to the shareholders of Auto Data Group.
The shareholders of Auto Data Group now hold approximately 95.0%
of the outstanding shares of common stock of the company.
Item 2. Acquisition or Disposition of Assets
On October 2, 2001, the Company entered into an Acquisition
Agreement with Europortal Inc T/A Auto Data Network, a company
incorporated under the laws of the State of Delaware,
(hereinafter "Auto Data Network") to acquire all of the
outstanding shares of common stock of Auto Data Network.
The acquisition was consummated by the execution of an
Acquisition Agreement dated October 2, 2001. The shares acquired
by the Company represented one hundred (100%) percent of all of
Auto Data Network's then currently issued and outstanding common
stock. The aggregate purchase price paid by the Company for the
Auto Data Network common shares was 9,500,000 post reverse split
shares of the company.
These shares will be issued to the sellers of the Auto Data
Network shares subsequent to a 25 to 1 reverse split of the
voting common stock by the Company of its voting common stock
which became effective on 15th October 2001. The transaction has
been ratified and approved by a majority of the shareholders of
Amac Inc and Auto Data Network.
There was no material relationship between the Company and Auto
Data Network prior to the acquisition by the company of the Auto
Data Network shares. Subsequent to the closing of the
transaction, control of the company shall pass to the
shareholders of Auto Data Network.
One 4th October 2001, the company changed its name to Auto Data
Network and the company shall thereafter proceed to adopt the
business plan of Auto Data Network as its own.
ADN is the information powered, transactional hub for the
automotive sector, and is the catalyst of an evolution in
transaction, process and relationship management.
Increased competition and globalisation are applying downward
pressure on margins within the automotive sector, posing
fundamental questions on how the industry can improve
profitability. ADN has identified an industry-wide need for the
sector to integrate information whilst consolidating its
operations and product channels and improving margins.
ADN provides a consistent, distributed information network for
sector-wide communication. Leveraging this network through multi-
channel, transactional services, process business operations and
improved profitability. As each transaction occurs data is added,
removed or modified from the network visibly and in real-time.
Information becomes intelligent, relevant providing users with
the tools to respond to changing market conditions.
ADN's objective is to, through its unique network, create the
most comprehensive on line database for the automotive sector.
ADN generates revenues through the provision of knowledge based
products and services to Manufacturer, Consumer and Retailer
channels. Simultaneously ADN collects data on vehicles, consumers
and vendors which can be merchandised for high return. ADN has
established an electronic marketplace at the heart of the retail
automotive industry in an environment of minimal competition.
In common with many other industry sectors the automotive
industry faces many inhibitors to conducting efficient business.
Incompatibility of systems and data structures makes transacting
business difficult and slow. As reliance on technology increases,
and more business is conducted using it, so these difficulties
are exacerbated.
ADN's information network acts as a "translator" enabling
different technologies and data to interact.
Item 5. Other Events and Regulation FD Disclosure.
Control of the company has now passed to the shareholders of
Auto Data Group. The company shall now adopt the business plan
of Auto Data Group and proceed with the business operations of
that company. Additionally, subsequent to the closing of the
Acquisition Agreement between the Company and Auto Data Group,
the Company on October 4, 2001 changed its name to Auto Data
Network Inc.
Item 7. Financial Statements and Exhibits
At this time, audited financials for Auto Data Network Inc., have
not been completed by their accountants. As a result, additional
time is required to provide correct and accurate audited
financials for the company. The Company expects to have audited
financials within sixty (60) days.
A copy of the Acquisition Agreement between the Company and
Auto Data Group, is attached hereto as an exhibit.
<Page>
SIGNATURES
In accordance with the requirements of the Securities Exchange
Act of 1934, the registrant caused this report to be signed on
its behalf by the undersigned, thereunto duly authorized.
Dated: October 17, 2001
Auto Data Network, Inc.
(Registrant)
/s/
President