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): July 29, 2005
IBHAS TECHNOLOGIES INC
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(Exact name of registrant as specified in its charter)
Nevada 000-50329 98-0370398
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(State or other jurisdiction of (Commission File Number) (I.R.S. Employer
incorporation or organization) Identification No.)
ZEEV SHERF STREET #14
JERUSALEM 97842
ISRAEL
(Address of principal executive offices and Zip Code)
+972 545-662-102
Registrant's telephone number, including area code
Copies to:
Gregory Sichenzia, Esq.
Sanny J. Barkats, Esq.
Sichenzia Ross Friedman Ference LLP
1065 Avenue of the Americas
New York, New York 10018
Phone: (212) 930-9700
Fax: (212) 930-9725
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))
Item 5.02 Departure of Directors or Principal Officers; Election of Directors;
Appointment of Principal Officers.
An investment group (the "Group") acquired an aggregate of 2,100,000
shares of the outstanding common stock (the "Shares") of IBHAS TECHNOLOGIES
INC., a Nevada corporation ("IBHAS" or the "Company") from Benjamin West,
Mohanad Shurrab and Abdellatif Anabtawi (the "Sellers"). Such Shares represent
approximately 76.6% of the issued and outstanding shares of the common stock of
IBHAS. The acquisition was completed pursuant to the terms of a Stock Purchase
Agreement dated June 29, 2005, by and between the Group and the Sellers. The
aggregate purchase price paid by the Group to the Sellers for the Shares was
$150,000.
In connection with the sale of the Shares, Benjamin West resigned as a
member of the board of directors on July 29, 2005. Subsequent to the foregoing
resignation, Jack Hornestein was appointed as a member of the board of directors
of the Company. From 1997 until 2004 Mr. Hornstein worked for Bombardier
Aerospace Inc., as a Stress Section Chief, supervising a group of stress
engineers responsible for all aspects of the structural strength of the Dash 8
aircraft and the preparation of strength certification reports for the
Bombardier RJ900 fuselage. Since 2004 Mr. Hornstein's title has been Senior
Engineering Specialist mainly providing consulting in aircraft structure stress
and design. Mr. Hornstein received a Bachelor of Science in aeronautical
sciences from the Engineering Institute Technion, Haifa, Israel, in 1972.
Certain Relationships and Related Transactions
Jack Hornstein is the brother of Fredy Ornath, a holder of 1,601,665
shares of the Company's common stock, representing 58.45% of the Company's
outstanding common stock.
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.
IBHAS TECHNOLOGIES INC
Date: July 29, 2005 /s/ Jacob Eluz
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Jacob Eluz
President, Chief Executive Officer,
Treasurer and Secretary