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 11, 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
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(Address of principal executive offices)
Registrant's telephone number, including area code:
Phone: 646.688.4413
Fax: 646.349.3864
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))
SECTION 2 -- FINANCIAL INFORMATION
ITEM 2.01. COMPLETION OF ACQUISITION OR DISPOSITION OF ASSETS.
As used in this report, "we", "us", "our" or "Company" refer to Navstar
media Holdings, Inc., a Nevada corporation.
As disclosed on our current report on Form 8-K filed with the Commission on
March 11, 2006, we signed a Master Agreement with the shareholders of Beijing
Broadcasting and Television Media Co., Ltd. ("Beijing Media") to acquire
operational control of Beijing Media and acquire a 70% ownership interest in
Beijing Media. Pursuant to the Agreement, the Company agreed to issue up to
2,400,000 million shares of its common stock to the existing shareholders of
Beijing Media, out of which 900,000 shares of the common stock of Company were
to be set aside in escrow for securing a pre-Olympics 2008 Beijing Games sport
mini-series featuring top Chinese athletes. According to the original agreement,
these 900,000 shares shall be returned back to the Company and cancelled if the
show cannot be secured but the Company is considering waiving this condition on
these 900,000 shares in view of the other contributions made by Beijing Media in
providing programming and other business opportunities.
According to the audited financial statement filed with this current
report, Beijing Media generated a total revenue of US$1,277, 659 and a net
income of US$561,312 for the fiscal year of 2005 with a total assets of
US$2,456,010 and shareholders equity of US$1,939,625 as of December 31, 2005.
Beijing Media dates back to 2000 when its predecessor was founded. Beijing
Media has produced approximately 10,000 hours of programming over the years.
Beijing Media counts among its customers, CCTV, for which it produces
approximately 500 hours of programming a year, Beijing Television Station,
Beijing Digital and Mobile Television Station, Shanghai Television Station,
Guangzhou Television Station and many other television stations. Beijing Media
has a full set of pre and post production editing equipment, including 15 pieces
pre-production equipment, 10 pieces of non-linear editing equipment and 2 pieces
linear editing equipment. Beijing Media is lead by a team of well-trained
professionals with solid background of content production and distribution.
Beijing Media's top management and creation team are well respected in the
industry.
The acquisition of Beijing Media is very important to the Company as it
will provide the Company with a platform for the TV syndicated programming
production and other content production and management. The Company is in the
process of consolidating its TV content production capabilities under the
umbrella of Beijing Media to streamline and more effectively manage the content
production business operations.
Company hereby files the financial statements as incorporated in Item 9.01
of our filing of Form 8-K current report dated March 17, 2006.
Item 9.01 Exhibits.
(d) Exhibit
Exhibit
Number Description of Exhibit
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10.1 Beijing Media - Financial Statements 12/31/2005 and
3/31/2006
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: May 19, 2006 Don Lee