~~August~~UNITED ~~31,~~STATES SECURITIES ~~2001~~AND ~~(unaudited)~~EXCHANGE -------------------------------------------------------- iExalt & PremierCare Pro Forma Subsidiaries Disposition Total -------------------------------------------------------- Current assets $ 1,449,338 $ 935,925 $ 2,385,263 Property, plant & equipment 568,029 (136,016) 432,013 Goodwill and other intangibles 4,271,540 (1,039,468) 3,232,072 Other assets 166,361 -- 166,361 -------------------------------------------------------- Total assets $ 6,455,268 $ (239,559) $ 6,215,709 ======================================================== Current liabilities $ 4,575,753 $ (149,694) $ 4,426,059 Long-term debt and other 62,364 (60,234) 2,130 Shareholders' equity 1,817,151 (29,631) 1,787,520 -------------------------------------------------------- Total liabilities & equity $ 6,455,268 $ (239,559) $ 6,215,709 ========================================================COMMISSION
WASHINGTON, D.C. 20549

~~Year~~FORM Ended August 31, 2001 (unaudited) ------------------------------------------------------------------------- Form 10-KSB Goodwill Pro Forma PremierCare Amortization Pro Forma Note B Disposition Adjustments Total ------------------------------------------------------------------------- Revenues $ 9,140,195 $ (3,507,305) $ -- $ 5,632,890 Loss from operations $ (8~~,258,071) $ (204,507) $~~ -~~- $ (8,462,578) Net loss $ (8,654,620) $ (344,710) $ -- $ (8,999,330) Earnings/(loss) per share $ (0.22) $ (0.23) ProForma Weighted Average Number of Shares Outstanding 39,376,810 39,376,810~~K

~~Year~~CURRENT ~~Ended~~REPORT PURSUANT ~~August~~TO ~~31,~~SECTION ~~2000~~13 ~~(unaudited)~~OR ------------------------------------------------------------------------- Form 10-KSB Goodwill Pro Forma PremierCare Amortization Pro Forma Note B Disposition Adjustments Total ------------------------------------------------------------------------- Revenues $ 8,101,364 $ 15(~~3,422,485~~d) $OF --THE $SECURITIES ~~4,678,879~~EXCHANGE ~~Loss~~ACT ~~from~~OF operations $ (7,659,240) $ (126,549) $ 34,797 $ (7,750,992) Net loss $ (7,828,520) $ (77,618) $ 34,797 $ (7,871,341) Earnings/(loss) per share $ (0.27) $ (0.27) ProForma Weighted Average Number of Shares Outstanding 29,345,656 29,345,6561934

Date of report (Date of earliest event reported): December 28, 2001

iExalt, Inc. (Exact name of registrant as specified in its charter)

Nevada (State of Other Jurisdiction of Incorporation)

000-09322 (Commission File Number)	75-1667097 (IRS Employer Identification No.)

12000 Aerospace Avenue Houston, Texas (Address of Principal Executive Offices)	77034 (Zip Code)

(281) 464-8400 (Registrant's Telephone Number, Including Area Code)

Item 5. Other Events.

On December 13, 2001, the Company's Board of Directors approved a 50 to one
reverse stock split, effective as of December 28, 2001.

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 hereto duly authorized.

	iExalt, Inc.

Date: December 28, 2001	By: /s/ Donald A. Sapaugh
	Donald A. Sapaugh, President

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