<PAGE>

                    U.S. SECURITIES AND EXCHANGE COMMISSION
                            WASHINGTON, D.C.  20549

                                 FORM 10-KSB/A
                                AMENDMENT No. 1

(Mark One)
[X]             ANNUAL REPORT UNDER SECTION 13 OR 15(d) OF THE
                        SECURITIES EXCHANGE ACT OF 1934

                   For Fiscal Year Ended: December 31, 2000

                                      OR

[ ]           TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE
                        SECURITIES EXCHANGE ACT OF 1934

     For the transition period from ________________ to ________________

     Commission file number   000-26479

                              Wolfpack Corporation

                    (Exact name of small business issuer as
                           specified in its charter)

                   Delaware                                56-2086188
       (State or other jurisdiction                       (IRS Employer
       of incorporation or organization)              Identification No.)

The Europa Center, 100 Europa Drive, Suite 455,
          Chapel Hill, North Carolina                         27514
   (Address of principal executive offices)                (Zip Code)

           Issuer's telephone number                     (919) 933-2720

Securities registered under Section 12(b) of the Act:  None

Securities registered under Section 12(g) of the Act: Common Stock, par value
                                                      -----------------------
$.001 per share
---------------

     Check whether the issuer (1) filed all reports required to be filed by
Section 13 or 15(d) of the Exchange Act during the past 12 months (or for such
shorter period that the registrant was required to file such reports), and (2)
has been subject to such filing requirements for the past 90 days.

      Yes    X           No
          -------           -------
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     Check if disclosure of delinquent filers in response to Item 405 of
Regulation S-B is not contained in this form, and no disclosure will be
contained, to the best of registrant's knowledge, in definitive proxy or
information statements incorporated by reference in Part III of this Form 10-KSB
or any amendment to this form 10-KSB. [   ]

     State issuer's revenues for its most recent fiscal year: $1,023,268

     As of March 30, 2001, there were 19,147,570 shares of the registrant's
common stock, par value $0.001 issued and outstanding.  Of these, 6,866,400
shares are held by non-affiliates of the registrant.   The market value of
securities held by non-affiliates is $4,291,500 based on an assumed market value
per share of $0.625 based on the most recent sale price per share of the
registrant's common stock on March 30, 2001.

Transitional Small Business Disclosure Format (check one):

Yes       ;    No   X
   ------         ------


                      DOCUMENTS INCORPORATED BY REFERENCE

     If the following documents are incorporated by reference, briefly describe
them and identify the part of the Form 10-KSB (e.g., Part I, Part II, etc.) into
which the document is incorporated:  (1) any annual report to security holders;
(2) any proxy or information statement;  and (3) any prospectus filed pursuant
to Rule 424(b) or (c) of the Securities Act of 1933, as amended ("Securities
Act") -- N/A.
         ---

     This amendment is being filed solely to file Exhibit 10.7 to the Annual
Report on Form 10-KSB.

                                       2
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                   ITEM 13  EXHIBITS, AND REPORTS ON FORM 8-K

(a)  The following documents are filed as part of this report.
<TABLE>
<S>                                                                                            <C>
  1. Financial Statements                                                                      Page
                                                                                               ----
     Wolfpack Corporation and Subsidiaries:

     Report of King Griffin & Adamson, P.C., Independent Certified Public Accountant.........   F-2

     Consolidated Balance Sheet at December 31, 2000.........................................   F-3

     Consolidated Statement of Operations for the year ended December 31, 2000...............   F-4

     Consolidated Statement of Stockholders' Equity for the year ended December 31, 2000.....   F-5

     Consolidated Statement of Cash Flows for the year ended December 31, 2000...............   F-6

     Notes to Consolidated Financial Statements..............................................   F-7

     FaithNet Telecommunications, Inc.:

     Report of Thomas P. Monahan, P:A........................................................  F-17

     Balance Sheet at December 31, 1999......................................................  F-18

     Statement of Operations for the year ended December 31, 1999............................  F-19

     Statement of Stockholders' Equity for the year ended December 31, 1999..................  F-20

     Statement of Cash Flows for the year ended December 31, 1999............................  F-21

     Notes to Financial Statements...........................................................  F-22
</TABLE>

2.   Financial Statement Schedules

     All financial statement schedules are omitted because they are not
applicable or the required information is shown in the financial statement or
notes thereto.

3.   Exhibits

     (a) The following exhibits are included as part of this report:


     Exhibit
     Number                           Title of Document

       2.1*     Acquisition Agreement dated as of January 4, 1999 by and between
                Wolfpack Corporation, Wolfpack Subsidiary Corp. and AAM
                Investment Council, Inc.

       2.2*     Acquisition Agreement dated as of January 4, 1999 by and between
                Wolfpack Corporation, Wolfpack Subsidiary Corp. and Dina Porter,
                Inc.

       3.1*     Certificate of Incorporation of Registrant

                                       3
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       3.2*     By-laws of Registrant

      10.1**    Common Stock Purchase Agreement by and between Wolfpack
                Corporation and Jetco Communications Corporation dated as of
                January 13, 2000

      10.2**    Addendum to the Common Stock Purchase Agreement by and between
                Wolfpack Corporation and Jetco Communications Corporation dated
                as of March 15, 2000

      10.3**    Common Stock Purchase Agreement by and between Wolfpack
                Corporation and Jetco Communications Corporation dated as of
                March 31, 2000

      10.4**    Common Stock Purchase Agreement by and among William W. Evans,
                Ira A. Hunt, Jr., John Patrick Wellington, Michelle Maidenberg
                and Wolfpack Corporation dated as of March 31, 2000

      10.5**    Press Release dated April 20, 2000

      10.6****  Stock Purchase Agreement dated as of October 1, 2000 by and
                among Susan H. Coker, Peter L. Coker, Sr. and the Registrant

      10.7      Stock Purchase Agreement dated as of January 29, 2001 by and
                among the Registrant, Basic Phone, Inc., Warren J. Landry, Jr.,
                Sonda J. Landry, Shari Ernst, Chad Kibodeaux, Chirstopher
                Kovatch and Tara Greenwood.

      16***     Letter from Thomas P. Monahan, CPA dated February 5, 2001

      21****    List of Subsidiaries of the Registrant


     (b)  Reports on Form 8-K.

     On February 5, 2001, we filed a Current Report on Form 8-K concerning a
change in accounting firms which took place on January 29, 2001. There were no
reports on Form 8-K during the quarter ended December 31, 2000.

---------------
   *  Incorporated by reference to the registration statement on Form 10-SB
      filed June 23, 1999.
  **  Incorporated by reference to the current report on Form 8-K filed April
      21, 2000.
 ***  Incorporated by reference to the current report on Form 8-K filed on
      February 5, 2001.
****  Incorporated by reference to the annual report on Form 10-KSB filed on
      April 20, 2001.

                                       4
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                                   SIGNATURES

     Pursuant to the requirements of Section 13 or 15(d) of the Securities
Exchange Act of 1934, as amended, the Registrant has duly caused this report to
be signed on its behalf by the undersigned, thereunto duly authorized.

                              WOLFPACK CORPORATION


Dated: May 10, 2001           By:         /s/ PETER L. COKER, SR.
                                  --------------------------------------
                                    Peter L. Coker, Sr.
                                    Chief Executive Officer,
                                    Treasurer and Director

     Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, this report has been signed below by the following persons on behalf of
the Registrant and in the capacities indicated on this 10th day of May, 2001.



                              By:         /s/ PETER L. COKER, SR.
                                  --------------------------------------
                                    Peter L. Coker, Sr.
                                    Director, Chief Executive Officer
                                    (Principal Executive Officer)  Treasurer
                                    (Principal Financial Officer) and Director


                              By:          /s/ William W. Evans
                                  --------------------------------------
                                    William W. Evans
                                    President and Director


                              By:         /s/ Joseph F. Campagna
                                  --------------------------------------
                                    Joseph F. Campagna
                                    Director

                                       5
<PAGE>

Exhibit Index:


     Exhibit
     Number                           Title of Document

       2.1*     Acquisition Agreement dated as of January 4, 1999 by and between
                Wolfpack Corporation, Wolfpack Subsidiary Corp. and AAM
                Investment Council, Inc.

       2.2*     Acquisition Agreement dated as of January 4, 1999 by and between
                Wolfpack Corporation, Wolfpack Subsidiary Corp. and Dina Porter,
                Inc.

       3.1*     Certificate of Incorporation of Registrant

       3.2*     By-laws of Registrant

      10.1**    Common Stock Purchase Agreement by and between Wolfpack
                Corporation and Jetco Communications Corporation dated as of
                January 13, 2000

      10.2**    Addendum to the Common Stock Purchase Agreement by and between
                Wolfpack Corporation and Jetco Communications Corporation dated
                as of March 15, 2000

      10.3**    Common Stock Purchase Agreement by and between Wolfpack
                Corporation and Jetco Communications Corporation dated as of
                March 31, 2000

      10.4**    Common Stock Purchase Agreement by and among William W. Evans,
                Ira A. Hunt, Jr., John Patrick Wellington, Michelle Maidenberg
                and Wolfpack Corporation dated as of March 31, 2000

      10.5**    Press Release dated April 20, 2000

      10.6****  Stock Purchase Agreement dated as of October 1, 2000 by and
                among Susan H. Coker, Peter L. Coker, Sr. and the Registrant

      10.7      Stock Purchase Agreement dated as of January 29, 2001 by and
                among the Registrant, Basic Phone, Inc., Warren J. Landry, Jr.,
                Sonda J. Landry, Shari Ernst, Chad Kibodeaux, Chirstopher
                Kovatch and Tara Greenwood.

      16***     Letter from Thomas P. Monahan, CPA dated February 5, 2001

      21****    List of Subsidiaries of the Registrant

---------------
   *  Incorporated by reference to the registration statement on Form 10-SB
      filed June 23, 1999.
  **  Incorporated by reference to the current report on Form 8-K filed April
      21, 2000.
 ***  Incorporated by reference to the current report on Form 8-K filed on
      February 5, 2001.
****  Incorporated by reference to the annual report on Form 10-KSB filed on
      April 20, 2001.

                                       6