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 12, 2003 SILVERADO FINANCIAL, INC. -------------------------------------------------------------------------------- (Exact name of registrant as specified in its charter) Nevada 000-31079 77-0140428 -------------------------------------------------------------------------------- (State or other jurisdiction of (Commission File Number) (IRS Employer incorporation) Identification No.) 1475 South Bascom Avenue, Suite 210 Campbell, California 95008 ------------------------------------------ (Address of principal executive offices) (408) 371-2301 --------------------- (Registrant's telephone number, including area code) ITEM 2: ACQUISITION OR DISPOSITION OF ASSETS On November 17, 2003, the Company acquired all of the outstanding common shares of San Francisco Funding, Inc. (SFF), a mortgage banking operation with offices in Novato and San Diego, California under an acquisition agreement. On December 12, 2003, the Company confirmed its December 10, 2003 rescission of the acquisition agreement with SFF due to their misrepresentation of material facts and material breaches of the acquisition agreement. The Company estimates it incurred approximately $30,000 in costs associated with the acquisition and rescission of SFF. 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. SILVERADO FINANCIAL, INC. Date December 24, 2003 By: /s/ John Hartman ------------------------------------- John Hartman, Chief Executive Officer