U.S. 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 OMNINET MEDIA.COM, INC. (Name of Small Business Issuer) Date of Report (Date of earliest event reported) July 27, 2000 Nevada 000-28935 880398783 (State or Other (Commission (I.R.S. Employer Jurisdiction of File No.) Identification Incorporation or Number) Organization) 7825 Fay Avenue, Suite 200, La Jolla, CA 92037 (Address of Principal Executive Offices) (Zip Code) (858) 456-5588 (Registrant's Telephone Number) Item 8. Change in Fiscal Year. On September 15, 2000 the Board of Directors adopted a resolution changing the fiscal year of the registrant from December 31 to August 31. A report covering the transition period from January 1, 2000 through August 31, 2000 will be filed by the registrant on Form 10-KSB. 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. OMNINET MEDIA.COM, INC. By: /s/ James A. Graves -------------------------- James A. Graves, Secretary and Director -1-

OMNINET MEDIA.COM, INC. BALANCE SHEETS ASSETS December 31, ---------------------- May 31, 1998 1999 2000 --------- --------- --------- Current Assets Cash $ -- $ 29 $ -- --------- --------- --------- Total Current Assets -- 29 -- --------- --------- --------- Total Assets $ -- $ 29 $ -- ========= ========= ========= LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) Current Liabilities Accrued expenses $ 8,000 $ 16,000 $ 20,225 --------- --------- --------- Total Current Liabilities 8,000 16,000 20,225 --------- --------- --------- Stockholders' Equity (Deficit) Preferred stock, $0.0001 par value; 10,000 shares authorized, no shares issued and outstanding -- -- -- Common stock, $0.0001 par value; 690,000,000 shares authorized; 11,260,748, 11,260,748 and 40,397,521 shares issued and outstanding, respectively 1,126 1,126 4,040 Additional paid-in capital 667,842 701,842 729,965 Accumulated deficit (676,968) (718,939) (754,230) --------- --------- --------- Total Stockholders' Equity (Deficit) (8,000) (15,971) (20,225) --------- --------- --------- Total Liabilities and Stockholders' Equity (Deficit) $ -- $ 29 $ -- ========= ========= =========

OMNINET MEDIA.COM, INC. STATEMENTS OF OPERATIONS Five months Year ended December 31, ended ---------------------------- May 31, 1998 1999 2000 ------------ ------------ ------------ Revenues, net $ -- $ -- $ -- ------------ ------------ ------------ Total Revenue -- -- -- ------------ ------------ ------------ Expenses Consulting -- 22,500 2,000 Research and development -- 10,425 17,410 Transfer agent fee -- -- 5,477 Rent -- -- 2,954 Professional fee 8,000 8,000 4,000 Other -- 1,496 3,450 ------------ ------------ ------------ Total Expenses 8,000 42,421 35,291 ------------ ------------ ------------ Operating Loss (8,000) (42,421) (35,291) ------------ ------------ ------------ Other Income (Expenses) Interest income -- 450 -- Loss on disposal of asset (6,350) -- -- ------------ ------------ ------------ Total Other Income (Expenses) (6,350) 450 -- ------------ ------------ ------------ Net Loss $ (14,350) $ (41,971) $ (35,291) ============ ============ ============ Net Loss Per Common Share $ (0.00) $ (0.00) $ (0.00) ============ ============ ============ Weighted Average Number of Common Shares Outstanding 6,782,331 11,260,748 14,940,931 ============ ============ ============

OMNINET MEDIA.COM , INC. STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (DEFICIT) Preferred Stock Total $0.0001 Par Value Common Stock Additional Shareholders' ----------------- ------------------------ Paid-In Accumulated Equity Shares Amount Shares Amount Capital Deficit (Deficit) ------ ------ ----------- ----------- ----------- ----------- ----------- Balance at December 31, 1997 -- $ -- 7,787,406 $ 7,787 $ 654,831 $ (662,618) $ -- Issuance of common stock for exchange agreement at $0.001 -- -- 5,250,000 5,250 -- -- 5,250 Reverse split; 50:1 par $0.001 -- -- (12,776,658) (12,777) 12,777 -- -- Change in par value from $0.001 to $0.0001 -- -- -- (234) 234 -- -- Issuance of common stock through a limited offering at $0.0001 par value -- -- 11,000,000 1,100 -- -- 1,100 Net loss for the year ended December 31, 1998 -- -- -- -- -- (14,350) (14,350) ------ ------ ----------- ----------- ----------- ----------- ----------- Balance at December 31, 1998 -- -- 11,260,748 1,126 667,842 (676,968) (8,000) Additional investment by stockholders -- -- -- -- 34,000 -- 34,000 Net loss for the year ended December 31, 1999 -- -- -- -- -- (41,971) (41,971) ------ ------ ----------- ----------- ----------- ----------- ----------- Balance at December 31, 1999 -- -- 11,260,748 1,126 701,842 (718,939) (15,971) Reverse split; 500:1 par $0.0001 -- -- (11,238,227) (1,123) 1,123 -- -- Issuance of common stock for cash at $0.0001 -- -- 30,000,000 3,000 27,000 -- 30,000 Issuance of common stock for cash at $0.0001 -- -- 10,000,000 1,000 -- -- 1,000 Issuance of common stock for cash at $0.0001 -- -- 375,000 37 -- -- 37 Net loss for the five months ended May 31, 2000 -- -- -- -- -- (35,291) (35,291) ------ ------ ----------- ----------- ----------- ----------- ----------- Balance at May 31, 2000 -- -- 40,397,521 $ 4,040 $ 729,965 $ (754,230) $ (20,225) ====== ====== =========== =========== =========== =========== ===========

OMNINET MEDIA.COM, INC. STATEMENTS OF CASH FLOWS Five months December 31, ended -------------------- May 31, 1998 1999 2000 -------- -------- -------- Cash Flows From Operating Activities Net loss $(14,350) $(41,971) $(35,291) Adjustment to reconcile net loss to net cash used in operating activities: Loss on disposal of asset 6,350 -- -- Increase in accrued expenses 8,000 8,000 4,225 -------- -------- -------- Net Cash Used in Operating Activities ( -- ) (33,971) (31,066) -------- -------- -------- Cash Flows From Financing Activities Proceeds from issuance of stock 1,100 -- 31,037 Payment on stock issuances (1,100) -- -- Additional investment by stockholders -- 34,000 -- -------- -------- -------- Net Cash Provided by Financing Activities -- 34,000 31,037 -------- -------- -------- Net Increase (Decrease) in Cash -- 29 (29) Cash at beginning of year -- -- 29 -------- -------- -------- Cash at end of year $ -- $ 29 $( -- ) ======== ======== ========

OMNINET MEDIA.COM, INC. NOTES TO FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31, 1998 AND 1999 AND THE FIVE MONTHS ENDED MAY 31, 2000 NOTE 4 - FAIR VALUE OF FINANCIAL INSTRUMENTS The estimated fair value of the Company's financial instruments, are as follows: December 31, May 31, ---------------------------- ------------------- 1998 1999 2000 ---- ---- ---- Carrying Fair Carrying Fair Carrying Fair Amount Value Amount Value Amount Value ------- ------- ------- ------- ------- --------- Assets Cash $ -- $ -- $ 29 $ 29 $ -- $ -- Liabilities Accrued expenses $ 8,000 $ 8,000 $16,000 $16,000 $20,225 $ 20, 225

U.S./ACE SECURITY LAMINATES, INC. BALANCE SHEETS (CONTINUED) December December December 31, 1999 31, 1998 31, 1997 ----------- ----------- ----------- (Restated) (Restated) LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities Accounts payable and accrued liabilities $ 48,218 $ 53,065 $ 22,005 Current portion of notes payable 667,000 -- 70,000 Notes payable to related parties 577,808 402,000 -- Advances payable -- 1,014,710 -- ----------- ----------- ----------- Total Current Liabilities 1,293,026 1,469,775 92,005 Long-Term Liabilities Notes payable less current portion -- 1,171,636 -- ----------- ----------- ----------- Total Liabilities 1,293,026 2,641,411 92,005 ----------- ----------- ----------- Commitments and Contingencies -- -- -- Stockholders' Equity Common stock, $0.10 par value, authorized 50,000,000, issued and outstanding 2,820,160, 2,444,560 and 2,444,560, respectively 282,016 244,456 244,456 Paid in capital 55,000 55,000 55,000 Accumulated deficit (660,215) (995,608) (263,104) ----------- ----------- ----------- Total Stockholders' Equity (323,199) (696,152) 36,352 ----------- ----------- ----------- Total Liabilities and Stockholders' Equity $ 969,827 $ 1,945,259 $ 128,357 =========== =========== ===========

US/ACE SECURITY LAMINATES, INC. STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (DEFICIT) Common Stock $.10 Par Value Additional Total --------------------- Paid-In Accumulated Shareholders' Shares Amount Capital Deficit Equity --------- --------- --------- ----------- ------------ Balance at September 30, 1997 2,444,560 $ 244,456 $ -- $ -- $ 244,456 --------- --------- --------- ----------- ------------ Additional investment by stockholders -- -- 55,000 -- 55,000 Net loss for period September 25, 1997 to December 31, 1997 -- -- -- (263,104) (263,104) --------- --------- --------- ----------- ------------ Balance at December 31, 1997 (restated) 2,444,560 244,456 55,000 (263,104) (36,352) Net loss at December 31, 1998 -- -- -- (732,504) (732,504) --------- --------- --------- ----------- ------------ Balance at December 31, 1998 (restated) 2,444,560 244,456 55,000 (995,608) (696,152) Stock issuance for services 360,600 36,060 -- -- 36,060 Stock issuance for cash 15,000 1,500 -- -- 1,500 Net income at December 31, 1999 -- -- -- 335,393 335,393 --------- --------- --------- ----------- ------------ Balance at December 31, 1999 2,820,160 $ 282,016 $ 55,000 $ (660,215) $ (323,199) ========= ========= ========= =========== ============

U.S./ACE SECURITY LAMINATES, INC. STATEMENT OF CASH FLOWS For the Period from Inception (September Year Ended Year Ended 25, 1997) December December to December 31, 1999 31, 1998 31, 1997 ----------- ----------- ----------- (Restated) (Restated) Cash Flows From Operating Activities Net income (loss) $ 335,393 $ (732,504) $ (263,104) Adjustments to Reconcile Net Loss to Net Cash Used in Operating Activities Depreciation and amortization 246,481 221,881 4,533 Impairment loss 215,159 Changes in Assets and Liabilities (Increase) decrease in security deposit 6,085 (8,875) -- (Increase) in prepaid expenses (13,514) (5,717) -- Increase (decrease) in accounts payable and accrued liabilities (4,847) 31,060 22,005 ----------- ----------- ----------- Net Cash Used In Operating Activities 784,757 (494,155) (236,566) ----------- ----------- ----------- Cash Flows From Investing Activities Purchase of license agreements (560,214) (630,497) -- Purchase of property and equipment (51,445) (162,653) (2,700) ----------- ----------- ----------- Net Cash Used In Investing Activities (611,659) (793,150) (2,700) ----------- ----------- ----------- Cash Flows From Financing Activities Net advances -- 1,014,710 -- Related party advances 175,805 402,000 -- Common stock issued 1,500 -- 244,456 Net advances on note payable -- 627,982 -- Principal payments on notes payable (504,636) (598,365) -- ----------- ----------- ----------- Net Cash Provided By Financing Activities (327,331) 1,446,327 244,456 ----------- ----------- ----------- Increase (Decrease) in Cash and Cash Equivalents (154,233) 159,022 5,190 Cash and Cash Equivalents, Beginning of Year 164,212 5,190 -- ----------- ----------- ----------- Cash and Cash Equivalents, End of Year $ 9,979 $ 164,212 $ 5,190 =========== =========== ===========

OMMNINET MEDIA.COM, INC. AND SUBSIDIARY CONSOLIDATED BALANCE SHEETS JUNE 30, 2000 AND 1999 ASSETS 2000 1999 ----------- ----------- Current Assets Cash $ 25,340 $ 2 Prepaid expenses 7,830 -- ----------- ----------- Total Current Assets 33,170 2 ----------- ----------- Property and Equipment 156,727 -- ----------- ----------- Other Assets License agreements, net of $47,313 amortization 719,687 -- Security deposits 2,790 -- ----------- ----------- Total Other Assets 722,477 -- ----------- ----------- ----------- ----------- Total Assets $ 912,374 $ 2 =========== =========== LIABILITIES AND STOCKHOLDERS' DEFICIT Current Liabilities Accounts payable and accrued liabilities $ 117,516 $ 12,000 Note payable 642,000 -- Notes payable to related parties 758,603 -- ----------- ----------- Total Current Liabilities 1,518,119 12,000 ----------- ----------- Stockholders' Deficit Preferred stock, $0.0001 par value; 10,000 shares authorized Common stock, $0.0001 par value; 690,000,000 shares authorized; 41,786,155 and 11,260,748 shares issued and outstanding, respectively 4,179 1,126 Additional paid-in capital 729,965 701,842 Accumulated deficit (1,339,889) (714,966) ----------- ----------- Total Stockholders' Deficit (605,745) (11,998) ----------- ----------- Total Liabilities and Stockholders' Deficit $ 912,374 $ 2 =========== ===========

OMNINET MEDIA.COM, INC. AND SUBSIDIARY CONSOLIDATED STATEMENTS OF CASH FLOW FOR THE SIX MONTHS ENDED JUNE 30, 2000 AND 1999 2000 1999 --------- --------- Cash Flows From Operating Activities: Net loss $ 17,517 $ (37,998) Adjustment to reconcile net loss to net cash used in operating activities Depreciation and amortization 2,625 -- Increase in accounts payable and accrued liabilites 13,279 4,000 --------- --------- Net Cash Provided by (Used in) Operating Activities 33,421 (33,998) --------- --------- Cash Flows From Investing Activities: Purchase of subsidiary (102,286) -- --------- --------- Net Cash Used in Investing Activities (102,286) -- --------- --------- Cash Flows From Financing Activities: Proceeds from notes payable to related parties 63,000 -- Additional investment by stockholders -- 34,000 Proceeds from issuance of common stock 31,176 -- --------- --------- Net Cash Provided by Financing Activities 94,176 34,000 --------- --------- Net Increase in Cash 25,311 2 Cash, Beginning of Year 29 -- --------- --------- Cash, End of Year $ 25,340 $ 2 ========= =========

OMNINET MEDIA.COM, INC. AND SUBSIDIARY NOTES TO CONSOLIDATED FINANCIAL STATEMENTS FOR THE SIX MONTHS ENDED JUNE 30, 2000 AND 1999 NOTE 7 - FAIR VALUE OF FINANCIAL INSTRUMENTS The estimated fair values of the Company's financial instruments as of June 30, 2000 and 1999 are as follows: 2000 1999 --------------------- ---------------------- Carrying Fair Carrying Fair Amount Value Amount Value --------- --------- --------- --------- Assets Cash $ 25,340 $ 25,340 $ 2 $ 2 Prepaid expense $ 7,830 $ 7,830 $ 0 $ 0 Liabilities Accounts payable and accrued liabilities $ 88,516 $ 88,516 $ 12,000 $ 12,000 Note payable $ 642,000 $ 642,000 $ 0 $ 0 Note payable to related party $ 758,603 $ 758,603 $ 0 $ 0

OMNINET MEDIA.COM, INC. AND SUBSIDIARIES PRO FORMA CONDENSED CONSOLIDATED BALANCE SHEET (Unaudited) JUNE 30, 2000 OMNINET MAS MEDIA.COM ACQUISITION INC XXV CORP Adjustments Pro Forma ----------- ----------- ----------- ----------- ASSETS Current Assets Cash $ 25,340 $ -- $ $ 25,340 Prepaid expenses 7,830 -- 7,830 ----------- ----------- ----------- Total Current Assets 33,170 -- 33,170 ----------- ----------- ----------- Property and Equipment 156,727 -- 156,727 ----------- ----------- ----------- Cost in excess of net assets acquired -- -- (1) 47,025 47,025 ----------- ----------- ----------- Other Assets License agreements 719,687 -- 719,687 Other assets 2,790 26 2,816 ----------- ----------- ----------- Total Other Assets 722,477 26 722,503 ----------- ----------- ----------- Total Assets $ 912,374 $ 26 $ 959,425 =========== =========== =========== LIABILITIES AND STOCKHOLDERS' DEFICIT Current Liabilities Accounts payable and accrued liabilities $ 117,516 $ -- $ 117,516 Notes payable 642,000 -- 642,000 Notes payable to related parties 758,603 -- 758,603 ----------- ----------- ----------- Total Current Liabilities 1,518,119 -- 1,518,119 ----------- ----------- ----------- Stockholders' Deficit (605,745) 26 (1) 47,025 (529,694) ----------- ----------- ----------- Total Liabilities and Stockholders' Equity $ 912,374 $ 26 $ 959,425 =========== =========== ===========

OMNINET MEDIA.COM, INC. AND SUBSIDIARIES PRO FORMA CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS (Unaudited) FOR THE SIX MONTHS ENDED JUNE 30, 2000 OMNINET MAS MEDIA.COM ACQUISITION INC XXV CORP Adjustments Pro Forma ----------- ----------- ----------- ----------- Revenues $ 39,900 $ -- $ 39,900 Cost of Product Sold 4,000 -- 4,000 ----------- ----------- ----------- Gross Profit 35,900 -- 35,900 Expenses General and administrative 18,383 10 (2) 1,000 19,393 ----------- ----------- ----------- Loss from continuing operations (17,517) (10) (16,507) ----------- ----------- ----------- Net Loss (17,517) (10) (16,507) =========== =========== =========== Loss per common share $ ( 0.01) $ (0.01) =========== =========== Weighted average number of shares outstanding 1,649,994 1,649,994 =========== ===========

OMNINET MEDIA.COM, INC. AND SUBSIDIARIES PRO FORMA CONDENSED CONSOLIDATED STATEMENT OF INCOME FOR THE YEAR ENDED DECEMBER 31, 1999 OMNINET MAS MEDIA.COM ACQUISITION INC XXV CORP Adjustments Pro Forma ----------- ----------- ----------- ----------- Revenues $ 2,904,773 $ -- $ $ 2,904,773 Cost of Product Sold 465,457 -- 465,457 ----------- ----------- ----------- Gross Profit 2,439,316 -- 2,439,316 ----------- ----------- ----------- Expenses General and administrative 1,897,508 18 (2) 2000 1,899,526 Impairment loss of license agreement 215,159 -- 215,159 ----------- ----------- ----------- Total Expenses 2,112,667 18 2,114,685 ----------- ----------- ----------- Income (loss) from continuing operations 326,649 (18) 324,631 ----------- ----------- ----------- Other Income (Expense) Interest income 2,602 -- 2,602 Loss on diposal of asset (6,350) -- (6,350) Other expense (1,858) -- (1,858) ----------- ----------- ----------- Total Other Income (Expense) (5,606) -- (5,606) ----------- ----------- ----------- Net Income (Loss) $ 321,043 $ (18) $ 319,025 =========== =========== =========== Earnings per common share $ 0.23 $ 0.22 =========== =========== Weighted average numbe of shares outstanding 1,418,001 1,418,001 =========== ===========

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