ZNext Mining Corporation, Inc (ZNXT)

[famulus]

Janice/Jim-There is where PearlAsian originally came from: it was one of the scores of "spin-off's" from Adatom. Interestingly those spin-off's also included the bulk of the stocks that "traded" on the DOMEX. Adatom emerged in the late nineties as an RM of "First Canadian American Holding Corporation:

http://sec.edgar-online.com/1999/12/27/17/0000930413-99-001502/Section19.asp

ITEM 1: Changes in Control of Registrant:

None

ITEM 2: Acquisition or Disposition of Assets:

The Company spun-off 100% of the common and preferred shares of its wholly
owned
subsidiary listed below to the shareholders of the Company on the basis of
1 common share of the subsidiary for every 10,000 common shares held by the
shareholders of the Registrant

Preferred shares are to be distributed on the basis of 1 preferred share
for every 100,000 common shares held by the shareholders of the Registrant.

The record date for the spin-off of shares of the subsidiary is October 21,
2003.

The Registrant has requested CUSIP numbers to be assigned to the spun off
subsidiary.

The Company has set as the distribution date, November 1, 2003. The Company
anticipates that NASDAQ will set an ex-dividend date for this matter.

No assurances can be made that the spun-off corporation will emerge as
successful companies.

At the record date of spin-off, the subsidiary had approximately 30,142,699
common shares outstanding and 30,142,699 preferred shares.

The Company spun-off 100% of the common and preferred shares of its wholly
owned subsidiary listed below to the shareholders of the Company on the
basis of 1 common share of the subsidiary for every 10,000 common shares
held by the shareholders of the Registrant and 1 preferred share of the
company listed below having preferred shares authorized, for every 100,000
common shares held by the shareholders of the Registrant:

PEARL ASIAN MINING INDUSTRIES INC.. -incorporated in Ontario, with
unlimited common shares authorized and unlimited preferred shares
authorized.

http://sec.freeedgar.com/displayText.asp?ID=2452128