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 1933

                                 March 26, 2007
                Date of Report (Date of earliest event reported)
              ----------------------------------------------------

                         iWORLD PROJECTS & SYSTEMS, INC.
             (Exact name of registrant as specified in its charter)

                                    814-00689
                              (Commission File No.)

                                     Nevada
                 (State or other jurisdiction of incorporation)

                                   88-0492267
                      (IRS Employer Identification Number)

        P.O. Box 2115, Addison, TX                        75001-2115
(Address of principal executive offices)                  (ZIP Code)

                                1(214)236 - 8480
          (Telephone number, including area code of agent for service)

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))

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ITEM 8.01. OTHER EVENTS

     On March 20,  2007 the board of  directors  of the Company  authorized  the
President,  CEO, Secretary and Legal Counsel for the Company to sign a Letter of
Intent to sell all assets and rights related to the websites www.pmforum.org and
www.pmworldtoday.net  to PMForum, Inc., a Delaware corporation,  in exchange for
$25,000 in cash; a note receivable of $125,000;  250,000 shares of PMForum,  Inc
common stock;  and transfer of liabilities  totaling  $396,380 to PMForum,  Inc.
Total value of the  transaction to the Company is estimated to be $733,880.  The
sale is subject to the  signing of a  definitive  Purchase  Agreement,  which is
expected to be signed by March 31, 2007. Closing on the transaction is scheduled
for May 31, 2007.


                                   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: March 26, 2007


                                           iWORLD PROJECTS & SYSTEMS, INC.


                                           By /s/ David Pells
                                          --------------------------------------
                                           David L. Pells, President, acting CEO