U.S. SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________________ FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES ACT OF 1934 Date of Report (Date of earliest event reported): July 11, 2000 --------------------- Upgrade International Corporation --------------------------------- (Exact name of registrant as specified in its charter) Florida 0-27649 58-244-1311 ------- ------- ----------- (State or other (Commission (I.R.S. Employer jurisdiction File Number) Identification No.) of incorporation) 1411 Fourth Avenue - Suite 629 Seattle, Washington 98101 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (206) 903-3116 Item 5. Other Events On July 11, 2000, Upgrade International Corporation ("Upgrade") executed a letter of intent with The Pathways Group, Inc. ("Pathways") (OTCBB: PTHW) pursuant to which Upgrade will acquire 100% of Pathways in an all-share transaction. Upgrade proposes that each stockholder of Pathways receive one share of Upgrade common stock for each 14.3 shares of Pathways common stock held by such stockholder. The acquisition is subject to the negotiation of a definitive merger agreement, the receipt of all regulatory approvals and stockholder approval. 2 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. UPGRADE INTERNATIONAL CORPORATION By: /s/ Daniel S. Bland July 19, 2000 ------------------------------ --------------- Name: Daniel S. Bland (Date) Title: President 3