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Securities and Exchange Commission
Washington, D.C. 20549
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FORM 8-K/A
AMENDMENT NO. 1
CURRENT REPORT
Pursuant to Section 13 or 15(d) of Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) December 12, 2000
LEVEL JUMP FINANCIAL GROUP, INC.
(Exact name of registrant as specified in its charter)
Florida 1-12023
(State or other jurisdiction of incorporation) (Commission File No.)
30 Broad Street
28th Floor
New York, New York 10004
(Address of principal executive offices) (Postal Code)
Registrant's telephone number, including area code:(212) 344-5867
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Item 7. Financial Statements and Exhibits
(b) Pro Forma Financial Information
The following unaudited pro forma condensed consolidated
financial statements are filed with this report:
o Pro Forma Condensed Consolidated Balance Sheet as at
September 30, 2000 Pro Forma Condensed Consolidated
Statements of Earnings: Year Ended December 31, 1999 Nine
Months Ended September 30, 2000
o The Pro Forma Condensed Consolidated Balance Sheet of
Registrant as at September 30, 2000 reflects the financial
position of Registrant after giving effect to the
disposition of thestockpage.com inc. ("thestockpage") and
assumes the disposition took place on September 30, 2000.
The Pro Forma Condensed Consolidated Statements of
Operations for the year ended December 31, 1999 and the
nine months ended September 30, 2000 assume that the
disposition occurred on January 1, 1999, and are based on
the operations of the Registrant for the year ended
December 31, 1999 and the nine months ended September 30,
2000.
o The unaudited pro forma condensed consolidated financial
statements have been prepared by the Registrant based upon
assumptions deemed proper by it. The unaudited pro forma
condensed consolidated financial statements presented
herein are shown for illustrative purposes only and are not
necessarily indicative of the future financial position or
results of operations of Registrant that would have
actually occurred had the transaction been in effect as of
the date or for the periods presented.
o The unaudited pro forma condensed consolidated financial
statements should be read in conjunction with the
historical financial statements and related noted of
Registrant.
Level Jump Financial Group, Inc.
Pro Forma Condensed Consolidated Balance Sheet
September 30, 2000
(Unaudited)
Pro-forma
Adustments
Historical TSP (a) Pro Forma
Assets
Current
Cash and cash equivalents $ 65,000 $ 37,766 $ 27,234
Deposits with clearing broker 12,065 - 152,065
Investments in marketable securities 1,271,764 384,615 887,149
Accounts receivable (net of
allowances - $439,787) 53,252 53,252 -
Prepaid expenses and deposits 59,152 11,625 46,527
Deferred income taxes 104,139 104,139 -
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1,704,372 591,397 1,112,975
Investments 187,600 124,300 63,300
Fixed assets 231,301 49,885 181,416
Goodwill 312,591 - 312,591
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$ 2,435,864 $ 765,582 $ 1,670,282
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Liabilities and Shareholders' Equity
Current
Payable to clearing broker $ 160,781 $ - $ 160,781
Accounts payable 75,197 26,208 48,989
Accrued liabilities 51,577 22,986 28,591
Note payable 803,900 - 803,900
Obligations under capital lease 12,545 - 12,545
Deferred income taxes 3,589 3,589 -
Deferred revenues 229,044 189,044 40,000
Due to related parties 615 - 615
Income taxes payable 592,066 591,340 726
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1,929,314 833,167 1,096,147
Deferred lease inducements 3,510 - 3,510
Obligations under capital lease 64,815 - 64,815
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68,325 - 68,325
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1,997,639 833,167 1,164,472
Shareholders' Equity 438,225 (67,585) 505,810
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$ 2,435,864 $ 765,582 $ 1,670,282
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(a) To eliminate the assets and liabilities included in the balance sheet of the
Company's subsidiary thestockpage.com as of September 30, 2000.
Level Jump Financial Group, Inc.
Pro-forma Condensed Consolidated Statement of Operations
For the Nine Months Ended September 30, 2000
(Unaudited)
Pro-forma
Adustments
Historical TSP (a) Pro Forma
Revenues $ 567,937 $ 229,452 $ 338,485
Cost of revenues 329,728 198,603 131,125
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Gross profit 238,209 30,849 207,360
Operating expenses
Sales and marketing 92,725 33,661 59,064
Product development - - -
General and administrative 1,660,206 749,411 910,795
Acmortization of goodwill 34,732 - 34,732
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Total operating expenses 1,787,663 783,072 1,004,591
Income from operations (1,549,454) (752,223) (797,231)
Investment income, net 679,574 639,943 39,631
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Income before income taxes (869,880) (112,280) (757,600)
Provision (recovery) for
income taxes (87,308) (87,992) 684
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Net income $ (782,572) $ (24,288) $ (758,284)
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Average shares outstanding 8,156,982 8,156,982
Earnings per share - basic $ (0.10) $ (0.09)
(a) To eliminate the profit and loss of thestockpage.com for the
entire period.
Level Jump Financial Group, Inc.
Pro-forma Condensed Consolidated Statement of Operations
For the Year Ended December 31, 1999
(Unaudited)
Pro-forma
Adustments
Historical TSP (a) Pro Forma
Revenues $2,827,468 $2,729,103 $ 98,365
Cost of revenues 661,867 661,867 --
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Gross profit 2,165,601 2,067,236 98,365
Operating expenses
Sales and marketing 87,902 84,062 3,840
Product development 10,480 10,480 --
General and administrative 971,139 826,803 144,336
Management compensation 363,007 363,007 --
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Total operating expenses 1,432,528 1,284,352 148,176
Income from operations 733,073 782,884 (49,811)
Investment income, net 203,828 203,845 (17)
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Income (loss) before
income taxes 936,901 986,729 (49,828)
Provision for income taxes 383,462 381,784 1,678
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Net income (loss) $ 553,439 $ 604,945 $ (51,506)
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Average shares outstanding 7,863,500 7,863,500
Earnings per share - basic $ 0.07 $ (0.01)
(a) To eliminate the profit and loss of thestockpage.com for the entire period.
SIGNATURE PAGE
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.
LEVEL JUMP FINANCIAL GROUP, INC.
/s/ Brice Scheschuk
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Name: Brice Scheschuk
Title: Secretary
Date: March 1, 2001