Amendment No. 1
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
On June 9, 2004, Net 1 U.E.P.S Technologies, Inc., a Florida Corporation ("Net 1" or "the Company"), filed a Current Report on Form 8-K with the Securities and Exchange Commission, including the Company's press release in which it announced the completion on June 7, 2004 of the acquisition of Net 1 Applied Technology Holdings Limited ("Aplitec").
On July 16, 2004 Net 1 filed a Current Report on Form 8-K announcing that, subsequent to completion of the aforementioned acquisition, 99.2% of Aplitec shareholders had elected the reinvestment option as of June 28, 2004. As a result, Aplitec is deemed to be the accounting acquirer of Net 1 and the transaction will be accounted for as a reverse acquisition.
This Amendment No. 1 ("Amendment") on Form 8-K/A amends the Current Report on Form 8-K of the Company filed on July 16, 2004. In that report, the Company indicated that it would file the information required under Item 7 of Form 8-K as soon as practicable, and in any event within the required time limits. The Company is filing the Amendment to provide Aplitec historical financial statements and pro forma financial information, and hereby amends Item 7, in it is entirety, as set forth below.
a) Financial statements of business acquired,
The following financial statements of Aplitec are filed with this report as Exhibit 99.1:
1) Report of independent auditors to the shareholders of Aplitec.
2) Audited consolidated financial statements of Aplitec, which comprise
balance sheets for the two years ended June 30, 2003 and the related statements of operations, statements of stockholders' equity and cash flow statements for the three years ended June 30, 2003.
3) Unaudited interim financial information of Aplitec for the nine month
period ended
March 31, 2004.
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NET 1 U.E.P.S. TECHNOLOGIES INC.
FORM 8-K/A REPORT
INDEX TO EXHIBITS
Exhibit
No.
Description
99.1
Financial statements and related notes of Aplitec, together with the
report of Fisher Hoffman PKF, for the years ended June 2003, 2002 and 2001 and unaudited financial statements and related notes of Aplitec for the nine months ended March 31, 2004
99.2
Unaudited Pro Forma Consolidated Financial Statements
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