U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Date of Report
(Date of earliest event
reported):
October 10, 2000
--------------------------
ENTERPRISES SOLUTIONS, INC.
----------------------------
(Exact name of registrant as specified in its Charter)
Nevada 000-28195 88-0232148
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
140 Wood Road, Suite 200
Braintree, MA 02184
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: 781-356-4387
781-356-4413
FORM 8-K
ENTERPRISES SOLUTIONS, INC.
ITEM 5. OTHER EVENTS
(a) Action by Securities and Exchange Commission
On October 10, 2000, the Securities and Exchange Commission (the
"Commission") requested the U.S. District Court for the Southern District of New
York in the case brought by the Commission against the Company, John A. Solomon,
the Company's CEO, and certain other parties, that the Court enter judgment
consistent with the proposed Final Judgment as to the Company and the Consent
and Undertakings of the Company incorporated therein (the "Final Judgment"),
agreed to by the Company and the Commission. The Court's entry of the Final
Judgment would conclude this litigation between the Company and the Commission.
For a more detailed description of this litigation, reference is made to the
Company's Annual Report on Form 10-KSB (Amendment No. 3, filed with the
Commission on October 4, 2000).
(b) Determination of Company with Respect to August 1999 Private Placement
of Common Stock
At a meeting held on October 12, 2000, the Board of Directors of the
Company made the determination that the consideration received by the Company
with respect to 934,180 shares of common stock issued in an August 1999 private
placement of units of common stock and warrants was inadequate, based on the
market price for the common stock and other private sales made by the Company in
that time period. The Board of Directors determined that the Company should
consult with counsel as to the proper procedures under Nevada law and other
applicable Federal and state laws to cancel these shares and to refund the
purchase price therefor, with interest, to the purchasers thereof.
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 the
undersigned thereunto duly authorized.
Dated: October 16, 2000
Enterprises Solutions, Inc.
By: /s/ John A. Solomon
------------------------
John A. Solomon,
President and Chief Executive Officer