U. S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
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CURRENT REPORT
UNDER SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report: November 15, 2002
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(Date of earliest event reported)
Innovative Software Technologies, INC.
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(Exact name of small business issuer as Specified in its Charter)
California 000-1084047 95-4691878
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(State or Other Jurisdiction (Commission File Number) (IRS Employer
of Incorporation) Identification No.)
204 NW Platte Valley Drive, Riverside, MO 64150
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(Address of Principal Executive Offices)
(816) 584-8030
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(Registrant's Telephone Number)
Items 1 through 4. Not applicable
Item 5. Other Events
On March 12, 2002, Innovative Software Technologies, Inc. (the "Company")
entered into a definitive agreement to acquire iCrypt, Inc., a Torrance,
California, technology company. The Company completed the due diligence process
in both the financial and technical areas and determined that certain terms and
conditions precedent to close could not be met. On November 5, 2002, the Company
submitted a formal termination letter to iCrypt, Inc. informing them of the
Company's intention to terminate the acquisition of iCrypt, Inc. under the terms
and conditions of the original agreement.
Item 6 and 7. Not applicable
SIGNATURES
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In accordance with the requirements of the Exchange Act, the registrant caused
this report to be signed on its behalf by the undersigned, thereunto duly
authorized.
Innovative Software Technologies, Inc.
Date: November 15, 2002 /s/ Douglas S. Hackett
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Douglas S. Hackett
President, Chief Executive Officer
and Director
/s/ Linda W. Haslem
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Linda W. Haslem
Chief Financial Officer