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) NOVEMBER 17, 2004
SOLUTIONNET INTERNATIONAL, INC.
(Exact name of registrant as specified in its charter)
MINNESOTA 0-27697 95-4749095
(State or other jurisdiction of (Commission (IRS Employer
incorporation) File Number) Identification No.)
731 ALEXANDER ROAD, #210, PRINCETON, NJ 08540
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (609) 452-2292
1594 CENTRE POINTE DRIVE, MILPITAS, CA 95035
(Former name or former address, 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))
ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT
On November 17, 2004, SolutionNet International, Inc. ("International") entered
into an Agreement for the Exchange of Common Stock with the shareholders of
SolutionNet Consulting LLC, a New Jersey limited liability company
("Consulting"). Under the terms of the Agreement, International has agreed to
issue the shareholders a total of 15,000,000 shares of common stock in
consideration for 100% of the ownership of Consulting. Closing of the
transaction is conditioned upon International changing its state of domicile to
Nevada, increasing its authorized common shares to 50,000,000, filing all
delinquent reports with the Securities and Exchange Commission, and obtaining a
listing for its common stock on the OTC Bulletin Board. Either party may
terminate the Agreement if closing does not occur by February 28, 2005.
Consulting is an information technology outsourcing company, which is controlled
by Suresh Venkatachari, an officer, director, and principal shareholder of
International.
Also on November 17, 2004, International entered into an Agreement for the
Exchange of Common Stock with the shareholders of SRP Consulting Pty. Ltd., an
Australian corporation ("SRP"). Under the terms of the Agreement, International
has agreed to issue the shareholders a total of 3,000,000 shares of common stock
in consideration for 100% of the ownership of SRP. Closing of the transaction is
conditioned upon International changing its state of domicile to Nevada,
increasing its authorized common shares to 50,000,000, filing all delinquent
reports with the Securities and Exchange Commission, and obtaining a listing for
its common stock on the OTC Bulletin Board. Either party may terminate the
Agreement if closing does not occur by February 28, 2005.
SRP is an information technology outsourcing company, which is also controlled
by Suresh Venkatachari.
ITEM 8.01 OTHER EVENTS
The proposed acquisition of Consulting and SRP are not expected to result in
changes to the management of International. As of the date of this report, the
officers and directors of International are as follows:
o Suresh Venkatachari as Director, CEO, President, and Secretary
o Gurumurthi Jayaraman as Director and Chief Financial Officer
In addition, it is expected that International's executive offices will continue
to be located at 731 Alexander Road, #210, Princeton, New Jersey 08540.
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ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
Exhibits:
REGULATION
S-B NUMBER DOCUMENT
2.1 Agreement for the Exchange of Common Stock dated November 17, 2004
with the shareholders of SolutionNet Consulting LLC
2.2 Agreement for the Exchange of Common Stock dated November 17, 2004
with the shareholders of SRP Consulting Pty. Ltd.
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.
SOLUTIONNET INTERNATIONAL, INC.
December 15, 2004 By: /s/ SURESH VENKATACHARI
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Suresh Venkatachari
CEO and President
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