SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT: March 24, 2004 COMMISSION FILE NO. 0-19485
ADVANCED FINANCIAL, INC.
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(Exact name of Registrant as specified in its charter)
Delaware 84-1069416
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(State or other jurisdiction of (IRS Employer
incorporation or organization) Identification Number)
5425 MARTINDALE, SHAWNEE, KS 66218
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(Address of principal executive offices) (Zip Code)
Registrant's Telephone Number (executive office), including Area Code:
(913) 535-1072
(Former name or former address, if changed since last report)
N/A
ITEM 5. OTHER INFORMATION
On March 24, 2004, the Registrant announced that it had received the
requisite affirmative consent votes from the common shareholders to effect the
four proposals set forth in the February 27, 2004, Consent Solicitation
Statement.
There were 5,867,122 common shares entitled to vote as a single class at the
close of business on February 27, 2004 on the consent matters. . The results of
the votes by Consent Items are as follows as of the March 22, 2004 due date of
the Consents:
Consent Matter For Against
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Item 1 4,217,447 0
Item 2 4,217,447 0
Item 3 4,217,447 0
Item 4 4,217,447 0
ITEM 7. EXHIBITS
The following exhibit is filed as part of this report.
Exhibit A--Press Release dated March 24, 2004.
Incorporated By Reference---- Information Statement Pursuant to
Section 14 c, of the Securities Exchange Act of 1934, filed with the
Commission on March 4, 2004.
SIGNATURE
Pursuant to the requirements of Section 13 or 15(d) of the Securities
Exchange Act of 1934, the Company has duly caused this report to be signed on
its behalf by the undersigned thereunto duly authorized.
ADVANCED FINANCIAL, INC.
(Registrant)
March 24, 2004 By: /s/ Charles A. Holtgraves
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Date Charles A. Holtgraves,
President
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EXHIBIT A
FOR IMMEDIATE RELEASE: CONTACT CHUCK HOLTGRAVES
(913 535-1072
ADVANCED FINANCIAL, INC. ANNOUNCES SUCCESSFUL COMPLETION OF SOLICITATION OF
CONSENTS OF COMMON SHAREHOLDERS
FOR IMMEDIATE RELEASE:
SHAWNEE, KS, March 24, 2004- Advanced Financial, Inc. ("AFI") OTC-PINK SHEETS:
AVFI) announced today that it had received the requisite affirmative consent
votes from the common shareholders to effect the four proposals set forth in the
February 27, 2004, Consent Solicitation Statement.
The four proposals included the following:
1. An amendment to the Company's Certificate of Incorporation to (a) change
the name of the Company to Advanced Energy Recovery, Inc.; (b) a one for
three reverse common stock split; and (c) set the authorized common stock
of the Company at 10,000,000 shares.
2. The exchange of 100% of the outstanding stock of AIH Receivable Management
Services, Inc. ("AIH"), (a wholly owned subsidiary of the Company) for an
assumption by the Company's primary secured lender of all of the AIH
liabilities.
3. The ratification of the appointment of Weaver and Martin, L.P. as the
Company's independent public accountants.
4. The ratification of the appointment to the Board of the Company of two
directors to fill two vacancies created by resignations.
Chairman Holtgraves commented that the Company is now positioned to move forward
with the implementation of its business plan concentrating its growth efforts in
the energy industry, focusing primarily on natural gas.
This press release includes forward-looking statements that involve risks and
uncertainties such as are detailed from time to time in the Company's SEC
filings. Actual results may differ materially from management expectations.
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