UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of The Securities Exchange Act of 1934
Date of Report: August 20, 2007
(Date of earliest event reported)
SATELLITE NEWSPAPERS CORP.
(Exact name of registrant as specified in its charter)
Nevada -------------------------------- | 000-26607 -------------------------------- | 88-0390828 ---------------------------------------------- |
| (State of Incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) |
Bank of America Building
980 Post Road East, 2nd FL
Westport, Connecticut 06880
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(Address of principal executive offices) (Zip Code)
(203) 222-9333
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(Registrant’s telephone no., including area code)
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(Former name, former address and former fiscal year, 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)) |
SECTION 8 - OTHER EVENTS
Item 8.01 Other Events.
On or about August 20, 2007 the Registrant's Board of Directors after conducting its due diligence has decided to reject the March 21, 2007 Memorandum Agreement executed with International Creative Property Concepts NV and Andreas Yanakopoulos, an operator and provider of elderly care services in Belgium. The Registrant is seeking other potential business acquisitions at this time.
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.
| | | SATELLITE NEWSPAPERS CORP. |
| | | (Registrant) |
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| Date: August 20, 2007 | By: /s/ ROY PICENI |
| | | JerRoy Piceni |
| | | Chief Executive Officer |
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