UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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): DECEMBER 15, 2004
ADVANCED MATERIALS GROUP, INC.
--------------------------------------------------------------------------------
(Exact Name of Registrant as Specified in Its Charter)
NEVADA
--------------------------------------------------------------------------------
(State or Other Jurisdiction of Incorporation)
0-16401 33-0215295
--------------------------------------------------------------------------------
(Commission File Number) (IRS Employer Identification No.)
11420 MATHIS AVENUE, DALLAS, TEXAS 75234
--------------------------------------------------------------------------------
(Address of Principal Executive Offices) (Zip Code)
(972) 432-0602
--------------------------------------------------------------------------------
(Registrant's Telephone Number, Including Area Code)
--------------------------------------------------------------------------------
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (SEE General Instruction A.2. below):
|_| Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
|_| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17
CFR 240.14a-12)
|_| Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
|_| Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
ITEM 8.01. OTHER EVENTS
On December 15, 2004 Advanced Materials Group, Inc. (OTC: ADMG.PK)
("ADMG") announced the receipt of a letter from the Inland Revenue Authority of
Singapore (the "IRAS") stating that the IRAS believes that a tax liability to
the IRAS does exist for business they contend was conducted by ADMG in Singapore
between the dates of January 1998 through June 2003. ADMG will appeal the
decision of the IRAS immediately but the process could take more than six months
to achieve resolution. The IRAS has not indicated the amount of the tax
liability, but if the outcome of the appeal process is adverse to ADMG, the
liability could materially affect ADMG's financial statements for the years of
1998 through 2003, requiring restatements. Until the IRAS tax liability issue is
resolved, ADMG will be unable to finalize and file its quarterly and annual
reports with the Securities and Exchange Commission. The revenue generated from
the Singapore business relationship is material to the future operations of ADMG
and may be at risk due to the foregoing.
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 hereunto duly authorized.
Dated: December 15, 2004 ADVANCED MATERIALS GROUP, INC.
By: /s/ Robert E. Delk
--------------------------------
Robert E. Delk
Chief Executive Officer