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) May 10, 2005
SITI-Sites.com, Inc.
(Exact name of registrant as specified in its charter)
Delaware | 0-15596 | 75-1940923 | |
(State or other jurisdiction | (Commission | IRS Employer | |
of incorporation or organization) | File Number) | Identification No.) |
| | | | | | | |
| 47 Beech Road, Englewood, New Jersey
(Address of principal executive offices) | 07631
(Zip Code) | |
| 111 Lake Avenue, Suite #7, Tuckahoe, New York
(Address of Chief Financial Officer) | 10707
(Zip Code) | |
Registrant’s telephone number, including area code (212) 925-1181
(Former name or former address, if changed since last report)
ITEM 2.01 ACQUISITION OR DISPOSITION OF CERTAIN ASSETS
Effective May 10, 2005, Siti-Sites.com, Inc, (“Siti”, the “Company”) completed another round of financing by the major investors of the Company in order to finance its operating and litigation costs. Certain investors including Chairman Lawrence Powers purchased a total of 3,500,000 shares at $.05 per share. The shares purchased by the major investors were not registered under the Securities Act of 1933, were purchased for investment and are not readily marketable, which factors generally result in discounts in purchase value. However, no discounts were taken and, at the time of the investment, the stock was trading at approximately $.03 per share for three months preceding this transaction.
The following is a list of the participants:
Name | Shares Purchased | Amount |
Lawrence M. Powers | 1,300,000 | $ 65,000 |
Robert Ingenito | 550,000 | $ 27,500 |
John DiNozzi | 550,000 | $ 27,500 |
John Iannitto | 550,000 | $ 27,500 |
Steven Gross | 550,000 | $ 27,500 |
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, thereto duly authorized.
By /s/ Lawrence M. Powers | |
| Lawrence M. Powers | |
| Chief Executive Officer and | |
| Chairman of the Board of Directors |
| | | | | |
