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 (Date of earliest event reported) November 14, 2001
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quepasa.com, inc.
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(Exact name of Registrant as specified in charter)
Nevada
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(State or other jurisdiction of incorporation)
0-25565 86-0879433
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(Commission File Number) (IRS Employee Identification No.)
7904 E. Chaparral Rd., Ste. A110, PMB 160
Scottsdale, AZ 85250
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (480) 949-3749
400 E. Van Buren, Fourth Floor
Phoenix, Arizona 85004
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(Former name or former address, if changed since last report)
ITEM 5. OTHER EVENTS.
On November 26, 2001, the Registrant issued the press release attached
hereto as Exhibit 99.1, which is incorporated herein by reference. The press
release announces that, on November 15, 2001, the Registrant received a decision
from the American Arbitration Association in the arbitration proceeding
initiated against Telemundo Network Group LLC (Telemundo) in February 2001. In
accordance with the arbitration award, (a) the Registrant is not permitted to
transfer, sell or use any of the unused advertising credits that were issued
under the original agreement between the Registrant and Telemundo, (b) Telemundo
is required to return the 600,000 shares of the Registrant's common stock that
it owns (representing approximately 3.6% of the Registrant's issued and
outstanding capital stock), (c) the Registrant has no further duties or
obligations under the agreement and (d) the Registrant is required to pay (i)
the administrative fees and expenses of the arbitrator in a total amount of
$19,452.50 (of which $4,350.00 must be paid directly to Telemundo as fees
previously advanced), and (ii) Telemundo for the attorney's fees and costs
incurred in connection with the arbitration in a total amount of $202,001.40.
The Registrant believes that the arbitration decision was wrongly decided and is
considering its options for appeal.
ITEM 7. EXHIBITS.
99.1 Press Release dated November 26, 2001.
SIGNATURE
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.
quepasa.com, inc.
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(Registrant)
Date: November 26, 2001 By: /s/ ROBERT J. TAYLOR
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Robert J. Taylor
President & Chief Financial Officer