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): March 31, 2006
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Navstar Media Holdings, Inc.
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(Exact name of registrant as specified in charter)
Nevada 000-50340 752980786
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State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification No.)
26, Chaowai Road, Suite A2205,
Chaoyang District, Beijing, 100020, China
(Address of principal executive offices)
Registrant's telephone number, including area code:
Phone: 646.688.4413
Fax: 646.349.3864
Registrant's telephone number, including area code: 011-86-139-11113602
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Premier Document Services, Inc.
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(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:
[ ] 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 1.02. Termination of a Material Definitive Agreement
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The Company has decided to terminate in its entirety the Master Agreement
between the Company and shareholders of Dong Fang Zheng Yi Film & TV
Communication Co., Ltd. and Beijing Dong Fang Zheng Yi Film Investment
Consulting Co., Ltd. (collectively, "Dong Fang Group") and not to complete the
acquisition of Dong Fang Group. The Company made the decision to terminate the
Master Agreement based on due diligence efforts that uncovered potential
liabilities associated with the Dong Fang Group and in view of other superior
investment opportunities existing in the market. The terminated Master Agreement
was intended to acquire a 70% ownership interest in the Dong Fang Group.
Pursuant to the terminated Master Agreement, the Company was to issue 6.2
million shares of its common stock to existing shareholders of the Dong Fang
Group and was to pay $800,000 to such shareholders, while committing to invest
another $1.6 million into Dong Fang Group operations. In view of the
termination, the 6.2 million shares of common stock will not be issued to the
shareholders of the Dong Fang Group and will be cancelled.
The Company paid $500,000 for certain assets and rights. The Company may
employ or, through other arrangements, engage on a selective basis some creative
personnel from the Dong Fang Group, based on their expertise and ability to
contribute to the Company.
As announced earlier, the Company will continue to focus on content
production and distribution under the umbrella of Beijing Media and will expand
its presence in syndicated column content production. The Company will also
strengthen its relationships with media industry leaders while exploring
additional acquisition and investment opportunities in the fast growing media
industry in China.
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.
Navstar Media Holdings, Inc.
(Registrant)
/s/ Don Lee
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(Signature)
Date: March 31, 2006 Don Lee