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 (Date of earliest event reported) September 30, 2005
Greens Worldwide Incorporated
(Exact name of registrant as specified in its charter)
Arizona
000-25025
86-0718104
(State or other jurisdiction of
(Commission File Number)
(IRA Employer Identification No.)
incorporation)
346 Woodland Church Road, Hertford, NC 27944
(Address of principal executive offices)
Registrant's telephone number, including area code: 252-264-2064
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Item 1.01 Entry into a Material Definitive Agreement
On September 30, 2005, the Company’s wholly owned subsidiary, US Pro Golf Tour, Inc. (“Company”) entered into Memorandum of Agreement with Digital Imaging Resources, Inc. (DGIR) and SwingStation, Inc. Per the terms of the Agreement,DGIR/SwingStation shall be designated as Pro Am Presenting Title Sponsor for the USPGT Tour Championship Bear’s Best Celebrity Pro Am November 10, 2005 at Bear’s Best in Atlanta, Georgia Company is to receive 500,000 shares of DGIR restricted common stock while DGIR shall receive benefits under the sponsorship as listed in the attached Exhibit 10.1. Company agreed to purchase a minimum of two SwingStation units to utilize at US Pro Golf Tour events and was granted an option to purchase a third unit.
Item 2.01 Completion of Acquisition or Disposition of Assets
On September 30, 2005 the Company entered into the Memorandum of Agrement attached as Exhibit 10.1.
EXHIBITS
| | Exhibit Number | Description |
| | 10.1 | Agreement |
| | | |
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.
Greens Worldwide Incorporated
Date: October 3, 2005
/s/ R. Thomas Kidd
President & CEO
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