1 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 February 16, 2001 COMMISSION FILE NO. 0-27720 INSTITUTIONAL EQUITY HOLDINGS, INC. -------------------------------------------------------------------------------- (Exact name of registrant as specified in its charter) Nevada 88-031770 ------ --------- (State or other jurisdiction (I.R.S. Employer Identification No.) incorporation or organization) P. O. Box 31 Bulverde, Texas 78163 -------------------------------------------------------------------------------- (Address of principal executive offices) 210-481-7804 -------------------------------------------------------------------------------- (Registrant's telephone number, including area code) Check whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15 (d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes [X] No [ ] 2 INSTITUTIONAL EQUITY HOLDINGS, INC. FORM 8-K TABLE OF CONTENTS Item 1. Changes in Control of Registrant - None Item 2. Acquisition or Disposition of Assets - None Item 3. Bankruptcy or Receivership - None Item 4. Changes in Registrant's Certifying Accountant - None Item 5. Other Events .......................................................................................Page 3 Item 6. Resignations of Registrant's Directors..............................................................Page 3 Item 7. Financial Statements and Exhibits - None Item 8. Change in Fiscal Year - None Item 9. Regulation FD Disclosure - None Signatures...................................................................................................Page 3

2 3 ITEM 5. Other Events and Regulation FD Disclosure On December 15, 2000, the persons specified in the following table resigned from the offices set after their names:

~~ASSETS~~NAME ~~Pro~~OF ~~Forma~~OFFICER ~~Institutional~~POSITION ~~First~~HELD ~~Atlanta Consolidating Pro Forma Holdings, Inc. Securities, L.L.C Total Entries Total~~ -------------- -~~-----------------~~ ----------- --~~------------~~ ~~----------------~~Robert ~~Current~~H. ~~Assets~~Shuey ~~Cash~~Chief $Executive ~~9,157~~Officer $Michael ~~8,511~~Vines $Chief ~~17,668$~~Financial -Officer $James ~~17,668~~Steinkirchner ~~Trading~~Chief ~~Securities,~~Operation atOfficer ~~market~~Michael ~~513,372~~Mosely - 513,372 - 513,372 Receivables Commissions 109,550 7,043 116,593 - 116,593 Good Faith Deposits 438,267 25,000 463,267 - 463,267 Other 33,329 - 33,329 - 33,329 Prepaid Expenses and Other 56,845 3,300 60,145 16,976 (F) 77,121 ----------- --------- ---------- ---------- ------------ Total Current Assets 1,160,520 43,854 1,204,374 16,976 1,221,350 Furniture and Equipment, net 343,321 - 343,321 - 343,321 Demand Note Receivable - 100,000 100,000 - 100,000 Other Assets 49,806 52 49,858 - 49,858 Goodwill - - - 1,196,561 (A) 1,196,561 -------------- ------------ ------- ---------- ---------- Total Assets $1,553,647 $143,906 $1,697,553 $1,213,537 $2,911,090 ========== ======== ========== ========== ==========Secretary

In addition, the persons specified in the following table have been named by our Directors to the offices set after their names:

~~Pro~~NAME ~~Forma~~OF ~~Institutional~~OFFICER ~~First~~POSITION ~~Atlanta~~HELD ~~Consolidating Pro Forma Holdings, Inc. Securities, L.L.C Total Entries Total~~ -------------- -~~-----------------~~ ----------- --~~------------~~ ~~----------------~~Elbert Current Liabilities Cash Overdraft $ 7,131 $ - $ 7,131 - $ 7,131 Loans Payable 100,000 100,000 200,000 - 200,000 Due to Brokers 340,617 63,166 403,783 (63,166) (B) 340,617 Securities Sold, not yet purchased 6,540 - 6,540 - 6,540 Accounts Payable and Accrued Liabilities 1,538,813 72,399 1,611,212 (72,399) (B) 137,027 (A) 1,675,840 - -- --- ---------- ---------- Total Current Liabilities 1,993,101 235,565 2,228,666 1,462 2,230,128 Loan Subordinated to Claims of General Creditors 100,000 - 100,000 - 100,000 Restricted Investment Loan 1,522,659 - 1,522,659 - 1,522,659 Due to Related Party 245,000 - 245,000 - 245,000 ---------- ------- ----------- ---- -------- Total Liabilities 3,860,760 235,565 4,096,325 1,462 4,097,787 ---------- -------- ---------- --------- ---------- Stockholders' Equity (Deficit) 10% Designated Series A Preferred Stock 10,600 - 10,600 - 10,600 10% Designated Series B Preferred Stock 750 - 750 - 750 Common Stock 23,820 - 23,820 13,000 (C) 200 (G). ~~37,020~~Tindell ~~Members~~Chief ~~Capital~~Executive -Officer ~~687,416~~William ~~687,416~~Rapaglia ~~(687,416)(D)~~President - Additional paid-in capital 3,922,159 - 3,922,159 1,090,440 (C) 16,776 (G) 5,029,375 Retained (deficit) (6,132,192) (779,075) (6,911,267) 779,075 (D) (6,132,192) ---------- ----------- ---------- ---------- ---------- (2,174,863) (91,659) (2,266,522) 1,212,075 (1,054,447) Less Treasury Shares, at cost (132,250) - (132,250) - (132,250) ----------- -- --------- --------------- -------- Total Shareholders' Equity (Deficit) (2,307,113) (91,659) (2,398,772) 1,212,075 (1,186,697) ---------- ------------ ---------- ---------- ----------- Total Liabilities and ~~Shareholders' Equity (Deficit)$1,553,647 $ 143,906 $1,697,553 $1,213,537 $2,911,090 ========== ========== ========== ========== ==========~~Secretary

ITEM 6. Resignations of Registrant's Directors On December 18, 2000, James Steinkirchner resigned as Director of our company. On January 17, 2001, Robert H. Shuey resigned as Director of our company. As of January 17, 2001, the directors of our company are Elbert G. Tindell and William Rapaglia. 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 herein duly authorized. INSTITUTIONAL EQUITY HOLDINGS, INC. (Signature) /s/ Elbert G. Tindell ----------------------------------- Elbert G. Tindell (Title): Chief Executive Officer and Director (Date): February 16, 2001 3

Institutional First Atlanta Consolidating Pro Forma Holdings, Inc. Securities, L.L.C. (I) Total Entries Total -------------- ----------------------- ----------- -------------- -------------- Revenues Commissions $ 3,179,288 $ 207,186 $3,386,474 $ - $ 3,386,474 Gain (loss) on firm securities accounts (675,256) 2,922 (672,334) - (672,334) Underwriting and syndicate income 935,616 32,500 968,116 - 968,116 Other income 97,893 1,906 99,799 - 99,799 Interest income 45,891 3,076 48,967 - 48,967 ------------- ------ ------- -- ------------- Total Revenue 3,583,432 247,590 3,831,022 - 3,831,022 Costs and Expenses Commissions paid to other broker-dealers 387,138 199,270 586,408 - 586,408 Employee compensation 4,013,180 53,689 4,066,869 - 4,066,869 General and administrative expenses 1,751,255 144,068 1,895,323 39,885 (E) 8,490 (F) 1,943,698 Interest expense 119,654 2,749 122,403 - 122,403 ----------- ------ -------- -- ------------- (Loss) Before Preferred Stock Dividend and Federal Income Tax Expense (2,687,795) (152,186) (2,839,981) (48,375) (2,888,356) Preferred Stock Dividend (113,570) - (113,570) - (113,570) Federal Income Tax Expense - - - - - ---- -- --- -- ------ Net (Loss) $(2,801,365) $(152,186) $(2,953,551) $(48,375) $(3,001,926) =========== ========= =========== ======== =========== Net (Loss) Per Share $ (1.19) $ (0.12) $ (0.81) =============== ============ ============== Pro forma weighted average number of common shares outstanding 2,362,000 1,300,000 3,682,000 (H) ============ ========= ==========

Institutional First Atlanta Consolidating Pro Forma Holdings, Inc. Securities, L.L.C. (I) Total Entries Total -------------- ----------------------- ----------- -------------- ------------- Revenues Commissions $ 8,573,690 $1,109,164 $ 9,682,854 $ - $ 9,682,854 Gain (loss) on firm securities accounts (290,682) - (290,682) - (290,682) Underwriting and syndicate income 1,155,840 505,204 1,661,044 - 1,661,044 Other income 256,119 - 256,119 - 256,119 Interest income 14,859 7,407 22,266 - 22,266 ------------- ----------- ------------ ---- ------------- Total Revenue 9,709,826 1,621,775 11,331,601 - 11,331,601 Costs and Expenses Commissions paid to other broker-dealers 1,024,590 179,651 1,204,241 - 1,204,241 Employee compensation 8,619,955 1,312,931 9,932,886 - 9,932,886 General and administrative expenses 2,538,642 192,946 2,731,588 79,770 (E) 16,976 (F) 2,828,334 Interest Expense 769,522 11,241 780,763 - 780,763 ----------- ----------- ------------ ---- --------- (Loss) Before Preferred Stock Dividend and Federal Income Tax Expense (3,242,883) (74,994) (3,317,877) (96,746) (3,414,623) Preferred Stock Dividend (87,944) - (87,944) - (87,944) Federal Income Tax Expense - - - - - ---- ------- ------- -- ----- Net (Loss) $(3,330,827) $ (74,994) $(3,405,821) $ (96,746) $(3,502,567) =========== =========== =========== ========== =========== Net (Loss) Per Share $ (1.64) $ (0.06) $ (1.05) ============== ============= ============== Pro forma weighted average number of common shares outstanding 2,028,000 1,300,000 3,348,000 (H) ============ ========== ==========

March 31, ---------------------------------------------- June 30, 2000 1999 2000 ------------- --------------- ---------- (Unaudited) Cash and cash equivalents $ 53,824 $ 4,311 $ 8,511 Deposit with clearing broker-dealer 25,000 25,000 25,000 Receivable from clearing broker-dealer 81,109 4,279 7,043 Due from brokers 27,559 32,659 - Due from officer (Note 3) - 24,050 - Cash and cash equivalents, pledged under subordinated note (Note 7) 100,000 100,000 100,000 Other assets 654 30 3,352 ----------- ----------- ---------- Total Assets $ 288,146 $190,329 $ 143,906 LIABILITIES AND MEMBERS EQUITY (DEFICIT) LIABILITIES: Accounts Payable $1,102 $ 14,034 $18,638 Due to clearing broker dealer 176 3,224 - Accrued liabilities: Commissions and wages 115,759 32,883 41,179 Interest 10,582 4,667 12,582 Payable to brokers - - 63,166 -- -- ------- Total Liabilities 127,619 54,808 135,565 -------- ------- ---------- SUBORDINATED NOTE (NOTE 7) 100,000 100,000 100,000 -------- -------- --------- MEMBERS' EQUITY (DEFICIT) (NOTE 8) 60,527 35,521 (91,659) --------- --------- ---------- $ 288,146 $ 190,329 $ 143,906

YEARS ENDED THREE MONTHS ENDED March June 30, 2000 1999 2000 1999 (Unaudited) (Unaudited) --------- ------------- --------------- REVENUES: Commission $1,109,164 $ 341,431 $ 207,186 $171,048 Investment banking (Note 2) 505,204 - 32,500 - Interest 7,407 2,797 3,076 1,181 Other - - 4,828 4,099 ---------- ------------- -------- ---------- 1,621,775 344,228 247,590 176,328 ---------- ---------- ---------- -------- Expenses: Employee compensation and benefits 1,139,677 504,038 264,447 89,700 Clearance fees 179,651 84,690 40,689 40,966 Management fees (Note 3) 173,254 17,550 - - Communications and data processing 79,770 49,410 22,524 21,109 Interest (Note 7) 11,241 6,065 2,749 2,229 Other expense 113,176 129,826 69,367 11,332 --------- ---------- ----------- --------- 1,696,769 791,579 399,776 165,336 ----------- ---------- ---------- -------- NET (LOSS) INCOME $ (74,994) $ (447,351) $(152,186) $ 10,992

Retained Paid-In (Accumulated Earnings Equity Deficit) Total BALANCE, MARCH 31, 1998 $184,416 $ (104,544) $ 79,872 Equity contributions 403,000 - 403,000 Net Loss - (447,351) (447,351) ---------- --------- -------- BALANCE, MARCH 31, 1999 587,416 (551,895) 35,521 Equity contribution 100,000 - 100,000 Net Loss - (74,994) (74,994) ---------- ------------ --------- BALANCE, MARCH 31, 2000 $ 687,416 $(626,889) $ 60,527 Net Loss (Unaudited) - (152,186) (152,186) ---------- ----------- -------- BALANCE, JUNE 30, 2000 (Unaudited) $687,416 $(779,075) $(91,659)

YEARS ENDED THREE MONTHS ENDED March 31, June 30, 2000 1999 2000 1999 --------- -------------- --------------- (Unaudited) (Unaudited) CASH FLOWS FROM OPERATING ACTIVITIES: Net (Loss) $ (74,994) $(447,351) $ (152,186) $ 10,991 Adjustments to reconcile net (loss) income to net cash provided by operating activities: Change in: Receivable from clearing broker-dealer (76,830) 14,296 74,066 4,279 Due from (to) brokers 5,100 (32,659) 90,725 32,659 Other assets (625) 512 (2,698) (1,731) Accounts payable and accrued expenses 75,860 40,958 (55,044) (1,416) Due to clearing broker-dealer (3,048) (12,612) (176) (3,224) -------- ---------- ---------- --------- Net cash used by operating activities (74,537) (436,856) (45,313) 41,558 -------- -------- -------- -------- CASH FLOWS FROM FINANCING ACTIVITIES: Members' equity contributions 100,000 403,000 - - ------- ------- ---- ------------ Net cash provided by financing activities 100,000 403,000 - - ------- ------- ---------- ------------ CASH FLOWS FROM INVESTING ACTIVITIES: Due from related parties - 5,475 - - Advances to officer 24,050 24,050 - (29,623) -------- -------- ---- --------- Net cash provided (used) by investing activities 24,050 (18,575) - (29,623) -------- -------- ----------- -------- NET INCREASE (DECREASE) FOR YEAR 49,513 (52,431) (45,313) 11,935 CASH AND CASH EQUIVALENTS: BEGINNING OF YEAR 4,311 56,742 53,824 4,311 ------ ------- --------- ---------- END OF YEAR $ 53,824 $ 4,311 $ 8,511 $ 16,246 SUPPLEMENTAL CASH FLOW INFORMATION Interest paid $ 5,331 $ 1,398 $ 749 $ 229

MARCH 31, 2000 Total members' equity qualified for net capital $ 60,527 Add: Liabilities subordinated to claims of general creditors allowable in computation of net capital 100,000 Other deductions or allowable credits - ---- Total capital and allowable subordinated liabilities 160,527 Deductions for non-allowable assets (28,213) -------- Net capital $132,314 Computation of Basic Net Capital Requirement Minimum net capital required $ 50,000 Excess net capital $ 82,314 Aggregate indebtedness $127,619 Percentage of aggregate indebtedness to net capital 96.5%

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