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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 12b-25
NOTIFICATION OF LATE FILING
(Check One) [X]Form 10-KSB [ ]Form 20-F [ ]Form 11-K [ ]Form 10-Q [ ]Form N-SAR
For Period Ended: June 30, 2001
[ ] Transition Report on Form 10-K
[ ] Transition Report on Form 20-F
[ ] Transition Report on Form 11-K
[ ] Transition Report on Form 10-Q
[ ] Transition Report on Form N-SAR
For the Transition Period Ended: _____________
Read attached instruction sheet before preparing form. Please print or type.
Nothing in the form shall be construed to imply that the Commission has
verified any information contained herein.
If the notification relates to a portion of the filing checked above,
identify the Item(s) to which the notification relates:
PART I - REGISTRANT INFORMATION
eResource Capital Group, Inc.
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Full Name of Registrant
Former Name if Applicable: flightserv.com
1225 Northmeadow Parkway - Suite 116
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Address of Principal Executive Office (STREET AND NUMBER)
Roswell, Georgia 30076
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City, State and Zip Code
PART II - RULES 12b-25(b) and (c)
If the subject report could not be filed without unreasonable effort or expense
and the registrant seeks relief pursuant to Rule 12b-25(b), the following should
be completed. (Check appropriate box)
[X] (a) The reasons described in reasonable detail in Part III of this
form could not be eliminated without unreasonable effort or
expense;
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[X] (b) The subject annual report, semi-annual report, transition
report on Form 10-KSB, Form 20-F, 11-K, Form N-SAR, or portion
thereof, will be filed on or before the fifteenth calendar day
following the prescribed due date; or the subject quarterly
report of transition report on Form 10-QSB, or portion thereof
will be filed on or before the fifth calendar day following
the prescribed due date; and
[ ] (c) The accountant's statement or other exhibit required by Rule
12b-25(c) has been attached if applicable.
PART III - NARRATIVE
State below in reasonable detail the reasons why the Form 10-KSB, 11-K, 10-Q,
N-SAR, or the transition report or portion thereof, could not be filed with the
prescribed time period. (Attach Extra Sheets if Needed)
The Registrant could not prepare and file, by the filing deadline, without
unreasonable effort or expense, its Annual Report on Form 10-KSB for the year
ended June 30, 2001 (the "Annual Report") because Registrant's management needed
additional time to provide certain information and complete its analyses with
respect to the effect of certain subsequent events (including financing
transactions subsequent to June 30, 2001) on the Registrants' Annual Report and
financial statements.
PART IV - OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification
William L.Wortman 770 754-9449
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(Name) (Area Code) (Telephone Number)
(2) Have all other periodic reports required under Section 13 or 15(d) of
the Securities Exchange Act of 1934 or Section 30 of the Investment
Company Act of 1940 during the preceding 12 months or for such shorter
period that the registrant was required to file such reports been
filed? If answer is no identify report(s).
[X] Yes [ ] No
(3) Is it anticipated that any significant change in results of operations
from the corresponding period for the last fiscal year will be
reflected by the earnings statements to be included in the subject
report or portion thereof? [X] Yes [ ] No
If so, attach an explanation of the anticipated change, both
narratively and quantitatively, and, if appropriate, state the reasons
why a reasonable estimate of the results cannot be made.
The Registrant anticipates a significant change in results of
operations for the fiscal year ended June 30, 2001 as compared to the
fiscal year ended June 30, 2000 due primarily to the Registrant's
previously reported acquisitions of new businesses during the fiscal
year ended June 30, 2001. The Registrant estimates that its (i)
revenues for fiscal year 2001 were $13,607,093
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compared to $10,040 in fiscal year 2000; (ii) gross profit for fiscal
year 2001 was $1,643,540 compared to a deficit of $83,521 in fiscal
year 2000; and (iii) net loss for fiscal year 2001 was $21,690,701
compared to a net loss of $57,935,549 in fiscal year 2000.
SIGNATURE
eResource Capital Group, Inc. has caused this notification to be signed
on its behalf by the undersigned hereunto duly authorized.
Date: September 28, 2001
By: /s/ William L. Wortman
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William L. Wortman
Chief Financial Officer
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