Report of unscheduled material events or corporate changes.
8-K
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 (Date of Earliest Event Reported): April 14, 2004
PROVO INTERNATIONAL, INC.
(Exact name of registrant as specified in its charter)
Delaware 001-15673 13-3950283
(Commission
(State or other jurisdiction of File Number) (I.R.S. Employer
incorporation) Identification No.)
One Blue Hill Plaza, Pearl River, New York 10965
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (845) 623-8553
Item 5. Other Information Provo International, Inc. (the "Company") was unable to file its annual report on Form 10-KSB by its due date, April 14, 2002 because it has not completed its analysis and obtained the information necessary to evaluate the fair value of certain assets of the Company. The Company anticipates that it will file its annual report on Form 10-KSB within the next two to three weeks. On April 15, 2004, the Company issued a press release regarding its inability to file its annual report by the due date. At the request of the American Stock Exchange, the Company included in its press release an unaudited condensed statement of operations for the Company.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(a)-(b) Not Applicable
(c) Exhibits.
99.3 Press Release dated April 15, 2004.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the Registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
PROVO INTERNATIONAL, INC.
(Registrant)
Dated: April 19, 2004 By: /s/ Ventura Martinez del Rio, Sr.
--------------------------
Chairman of the Board
Exhibit 99.3
Provo Plans to File 10K before Month End
PEARL RIVER, N.Y.--(BUSINESS WIRE)--April 15, 2004--Provo
International, Inc. (formerly Frontline Communications Corp.,
AMEX:FNT) announced that it did not file its annual report on Form 10K
by its due date, April 14, 2004. At approximately 4:00 P.M. ET on
April 14, 2004, the Company was notified by its Mexican auditors, BDO
Hernandez Marron y Cia, S.C. that they would require an outside
evaluation of the value of the goodwill carried on the Company's books
in order to give their consent to the 10K filing. The Company plans to
retain an expert to provide the valuation required by its auditors as
soon as possible, and anticipates that it will file its annual report
on Form 10K before the end of April. Included in this release is a
condensed statement of operations for Provo International, Inc.,
including 2003 financial, the audit of which is not yet completed.
About Provo International Inc.
Founded in 1995 as Frontline Communications Corporation, traded on
the American Stock Exchange under the symbol FNT, Provo International
Inc. has two operating divisions, Provo Mexico and Provo US.
The Provo Mexico division (www.provo.com.mx), acquired in April,
2003, is a Mexican corporation which
maintains a dominant position
within the pre-paid calling card and cellular phone airtime markets in
Mexico. Provo Mexico and its affiliates have been in operation for
over seven years, and had combined audited revenue in 2002 of
approximately $100 million, with operating profits of over $800,000.
The company currently anticipates expanding existing Provo Mexico
services to the continental United States, and intends to begin
marketing cash cards, payroll cards and other forms of payroll and
money transfer services, through both the Mexico and US divisions, in
the near future.
The Provo US division is a leading provider of Internet bandwidth
services and award winning E-commerce, programming and website
development, design and hosting services through its PlanetMedia
group, www.pnetmedia.com. Provo US plans on expanding its current
services and offerings beyond the traditional internet sector with the
launch of the Provo Paycard and other payroll disbursement products
and services.
The statements which are not historical facts contained in this
press release are forward looking statements that involve certain
known and unknown risks and uncertainties, including but not limited
to, changes in the market for Internet or distribution services,
regulatory and technological changes, economic factors, increased
competition, foreign currency devaluation, foreign market risk, and
the nature of supplier of customer arrangements which become available
to the Company in the future. The Company's actual results may differ
materially from the results discussed in or implied by any
forward-looking statement. The words "intend," "expect," "should,"
"project," and "anticipate," and similar expressions identify forward
looking statements. Readers are cautioned not to place undue reliance
on these forward looking statements which speak only as of the date
they were made.
Provo International, Inc.
Condensed Statement of Operations
For the three months For the year
ended December 31, ended December 31,
2003 2002 2003 2002
------------ ------------ ------------ ------------
UNAUDITED
Revenues $19,479,001 $1,174,076 $58,287,790 $5,047,098
Noncash
compensation
charge 1,954,363 58,500 2,005,808 58,500
Net loss ($4,435,285) ($164,006) ($4,966,052) ($787,525)
Preferred
dividends 59,573 66,650 282,974 297,867
------------ ------------ ------------ ------------
Net loss
applicable to
common shares ($4,494,858) ($230,656) ($5,249,026) ($1,085,392)
============ ============ ============ ============
Loss per common
share- basic and
diluted ($0.41) ($0.04) ($0.66) ($0.18)
============ ============ ============ ============
Weighted average
number of shares
outstanding 11,038,382 6,163,017 7,927,092 6,079,689
============ ============ ============ ============
CONTACT: Investor Relations Group
Tom Caden or Dian Griesel, Ph.D., 212-825-3210