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 COMMISSION FILE NO.: 0-28887 Date of Report: March 31, 2005 GREENWORKS CORPORATION ------------------------------------------------------ (Exact name of registrant as specified in its charter) Delaware 22-3328734 --------------------------------------------------------------------- (State of other jurisdiction of (IRS Employer incorporation or organization Identification No.) 111 Howard Boulevard, Suite 108, Mt. Arlington New Jersey 07856 --------------------------------------------------------------------- (Address of principal executive offices) (Zip Code) (973) 398-8183 -------------------------------------------------- (Registrant's telephone number including area code) 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 On March 31, 2005 GreenWorks terminated its consulting agreements with: a. Cyrus Capital, LLC. This agreement had required GreenWorks to pay $125,000 in cash or stock for services. The sole member of Cyrus Capital is the brother of the Chairman of GreenWorks. b. Four acquisition consultants. These agreements, in aggregate, had required GreenWorks to pay a total of $350,000 in cash or stock for services. c. Three business consultants. These agreements, in aggregate, had required GreenWorks to pay a total of $320,000 in cash or stock for services. On March 31, 2005 GreenWorks also amended its consulting agreements with Candent Corporation and Serenity Capital, LLC. The amendments eliminated the rights of the consultants to obtain price protection with respect to common shares issued to the consultants pursuant to the agreements. The President of Candent Corporation is the spouse of the Chairman of GreenWorks. The sole member of Serenity Capital, LLC is the father of the Chairman of GreenWorks. 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. GREENWORKS CORPORATION Dated: April 22, 2005 By: /s/ Kevin Kreisler --------------------------------------- Kevin Kreisler, Chief Executive Officer