UNITED STATES
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): April 26, 2005
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21st Century Technologies, Inc.
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(Exact name of registrant as specified in its charter)
Nevada 000-29209 48-1110566
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(State or other jurisdiction (Commission (IRS Employer
Of incorporation) File Number) Identification No.)
2700 W. Sahara Ave., Suite 440, Las Vegas, NV 89102
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (702) 248-1588
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Not Applicable
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(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act (17 CFR 240.13e-4(c))
SECTION 2 - FINANCIAL INFORMATION
ITEM 2.01 COMPLETION OF ACQUISITION OR DISPOSITION OF ASSETS.
On April 26, 2005 21st Century Technologies, Inc. (the "Company") sold Paramount
MultiServices, Inc. ("Paramount"), one of the wholly-owned subsidiary companies
in its portfolio to The Romney Group, Inc. ("Romney Group"), a privately-held
company. The Romney Group is controlled by the Company's former President, Chief
Executive Officer and director, Kevin Romney. Mr. Romney served as Chief
Executive Officer and director of the Company from April 2004 to November 2004.
In addition, Mr. Romney was the majority owner of Paramount prior to the Company
acquisition of it in 2003.
Paramount is an inbound/outbound blended call center specializing in the sale of
products for Fortune 100 financial institutions as well the sale and service of
other products and lines of business.
As consideration for transferring 100% of the stock of Paramount to the Romney
Group, the Company received a Promissory Note (the "Note") from Paramount for
$252,000.00. The Note is payable over four years on a monthly basis, with two
balloon payments of $15,000.00 each during the first year of the Note. The Note
bears interest at the rate of 6 1/2% per annum. The sale amount was primarily a
recouping of a significant portion of cash advances made by the Company to
Paramount since its acquisition by the Company in 2003.
Further details are disclosed in the press release attached as Exhibit 99.1 and
the Agreement with Respect to Paramount as Exhibit 99.2 to this report.
SECTION 9 - FINANCIAL STATEMENTS AND EXHIBITS
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
(a) Financial statements of businesses acquired.
Not applicable.
(b) Pro forma financial information.
Not applicable.
(c) Exhibits.
Exhibit 99.1 - Press Release Dated April 27, 2005
Exhibit 99.2 - Agreement with Respect to Paramount
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 hereunto duly authorized.
21ST CENTURY TECHNOLOGIES, INC.
(Registrant)
By: /s/ JOHN R. DUMBLE
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Date: May 2, 2005 John R. Dumble
Its: Chief Executive Officer