8-K/A 1 trsg8ka.txt FORM 8-KA UNITED STATES SECURITIES AND 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: March 23, 2001 TSRG Corporation ---------------- (Exact name of registrant as specified in its charter) Delaware (State or other jurisdiction of incorporation or organization) 33-24108D 87-045382 --------- --------- (Commission File Number) (IRS Employer Identification Number) Rick Bailey, President 500 East Cheyenne Avenue North Las Vegas, Nevada 89030 (Address of principal executive offices) (702) 399-4328 (Registrant's telephone number, including area code) (Former name or address, if changed since last report) 1 ITEM 7: FINANCIAL STATEMENTS AND EXHIBITS Pro Forma Financial Information On January 10, 2001 TRSG, Corporation, ("TRSG") became a subsidiary of Gateway Distributors, LTD ("Gateway") by issuing 85% of their common stock (13,448,660 shares) in exchange for substantially all of the assets of Gateway. The following pro forma financial statements reflect the adjustments resulting from this transaction. The December 31, 2000 audited financial statements and the quarterly filings for 2000 of Gateway and TRSG, Corporation should be read in conjunction with this combined financial statement. This pro forma information assumes that the acquisition occurred as of December 31, 2000, although the actual acquisition occurred on January 10, 2001. As such, the pro forma financial statements are not necessarily indicative of the operating results achieved by either company at such time. [THIS SPACE INTENTIONALLY LEFT BLANK] 2
TRSG, CORPORATION COMBINED BALANCE SHEET DECEMBER 31, 2000 PROFORMA PROFORMA TRSG ADJUSTMENTS COMBINED ============= =============== =============== ASSETS Current Assets Cash $ 0 $ 2,625 {1} $ 2,625 Accounts receivable 0 51,233 {1} 51,233 Inventories 0 205,711 {1} 205,711 Prepaid expenses and other 0 127,675 {1} 127,675 ============= =============== =============== Total current assets 387,244 387,244 Property & equipment 0 427,830 {1} 427,830 Less: accumulated amortization 0 (269,861) {1} (269,861) ============= =============== =============== 157,969 157,969 Other Assets Goodwill, net of accumulated amortization of $74,244 0 927,787 {1} 927,787 Other assets 0 35,410 {1} 35,410 ============= =============== =============== 0 963,197 963,197 Total Assets $ 0 $ 1,508,410 $ 1,508,410 ============= =============== =============== LIABILITIES & STOCKHOLDERS' EQUITY Current Liabilities Accounts payable $ 10,290 $ 0 $ 10,290 Judgement payable 50,000 50,000 ============ ================ =============== Total current liabilities 60,290 0 60,290 Stockholders' Equity Common stock - $.001 par value, 200,000,000 shares authorized: 2,368,988 shares issued and outstanding at December 31, 2000 2,369 13,449 {1} 15,818 Additional paid in capital 200,975 1,494,961 {1} 1,695,936 Accumulated deficit (263,634) (263,634) ============ ================ =============== Total Stockholders' Equity (60,290) 1,508,410 1,508,410 ============ ================ =============== Total Liabilities and Stockholders' Equity $ 0 $ 1,508,410 $ 1,508,410 ============ ================ ===============
Adjustment to reflect acquisition of Gateway Distributors, {1} LTD assets
TRSG, CORPORATION CONSOLIDATED STATEMENT OF INCOME FOR THE YEAR ENDED DECEMBER 31, 2000 TRSG PROFORMA PROFORMA ADJUSTMENTS COMBINED ============== =================== ===================== NET SALES $ 0 $ 0 $ 0 COST OF SALES 0 0 0 ============== =================== ===================== GROSS PROFIT 0 0 0 SELLING, GENERAL AND ADMINISTRATIVE EXPENSES 122,577 0 122,577 ============== =================== ===================== INCOME FROM OPERATIONS (122,577) 0 (122,577) OTHER INCOME (EXPENSE) INTEREST EXPENSE (44,904) 0 (44,904) DEBT FORGIVENESS 205,000 0 205,000 JUDGEMENT SETTLEMENT 558,970 0 558,970 ============== ===================== 719,066 0 719,066 ============== =================== ===================== NET INCOME $ 596,489 0 596,489 ============== =================== ===================== BASIC & DILUTED EARNINGS PER SHARE $ 0.20 $ 0.00 $ 0.20 ============== =================== ===================== WEIGHTED AVERAGE SHARES OUTSTANDING 3,018,366 36,846 {1} 3,055,212 ============== =================== =====================
{1} Adjustment to reflect acquisition of Gateway Distributors, LTD assets 4 EXHIBITS. INDEX TO EXHIBITS Exhibit. Page No. No. Description 10(i) * Aquisition Agreement dated October 12, 2000. * Incorporated by reference from Form 8-K filed January 12, 2001. 5 SIGNATURES Pursuant to the requirement of the Securities Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: March 23, 2001 TRSG Corporation, A Nevada Corporation By: /s/Rick Bailey -------------------------------------------- Name: Rick Bailey Title: President 6