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                                  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





             AUGUST 7, 2001                                     000-32657
Date of Report (Date of earliest event reported)         Commission File Number





                                    ELEKTRYON
             (Exact name of registrant as specified in its charter)



              NEVADA                                    88-0353324
(State or other jurisdiction of        (I.R.S. Employer Identification Number)
incorporation or organization)


                         6565 SPENCER STREET, SUITE 206
                               LAS VEGAS, NV 89119
               (Address of Principal Executive Offices) (Zip Code)


                                 (702) 361-1719
              (Registrant's telephone number, including area code)
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ITEM 5.  OTHER EVENTS.

        On August 7, 2001, Elektryon (the "Company") executed a letter agreement
with Solo Energy Corporation ("Solo") (the "August Letter Agreement") amending
the Asset Acquisition Agreement by and between the Company and Solo, dated as of
April 16, 2001 (the "Asset Acquisition Agreement"), as previously amended by the
letter agreement between the Company and Solo, dated June 14, 2001 (the " June
Letter Agreement"). The August Letter Agreement is filed as Exhibit 1 to this
Form 8-K. The Asset Acquisition Agreement and the June Letter Agreement have
been filed as Exhibits 2.1 and 2.4, respectively, to the Company's Form 10, as
amended. Pursuant to the Asset Acquisition Agreement, Solo will acquire
substantially all of the Company's assets in exchange for (a) $5 million in
cash, subject to adjustment, (b) 51,878,788 shares of Solo Common Stock, par
value $.0001 per share (the "Solo Common Stock"), (c) up to 36,363,636
additional shares of Solo Common Stock to the extent Elektryon achieves
specified sales and other goals after the closing of the proposed transaction,
and (d) Solo's assumption of specified liabilities of the Company. In addition,
Solo will grant options to purchase 1,818,182 shares of Solo Common Stock to
Michael Holmstrom, President of the Company, with an exercise price of $0.33 per
share, and 1,515,152 shares of Solo Common Stock to Joanne Firstenberg, the
General Counsel of Elektryon, with an exercise price of $0.33 per share, upon
termination of certain options held by Mr. Holmstrom and Ms. Firstenberg to
purchase shares of the Company's Common Stock which will be terminated in
connection with the Asset Acquisition Agreement. Under the terms of the August
Letter Agreement, (i) the Company on or after August 6, 2001 shall be permitted
to sell or dispose of a portion of its Inventories with a book value not to
exceed $500,000, (ii) retain the proceeds from such sales and (iii) for the
purposes of calculating the distribution of the Cash Escrow in accordance with
the Asset Acquisition Agreement, any reduction of Inventories shall not be
reflected in the Closing Balance Sheet. Furthermore, the Termination Date set
forth in the Asset Acquisition Agreement which was extended from June 30, 2001
to July 30, 2001, pursuant to the June Letter Agreement, has been extended from
July 30, 2001 to August 31, 2001.


ITEM 7.   FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.

        (a) and (b)   None


        (c)    Exhibit 1 - August Letter Agreement.



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                                   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.


Date: August 13, 2001             ELEKTRYON



                                  By:   /s/ Michael E. Holmstrom
                                      __________________________________________
                                          Michael E. Holmstrom
                                          President



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