UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549


                                   FORM 8-K/A


                                 CURRENT REPORT
     Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934


Date of Report (Date of earliest event reported)       August 18, 2000
                                                  ---------------------------

                         FUSION NETWORKS HOLDINGS, INC.
             -------------------------------------------------------
             (Exact name of registrant as specified in its charter)


          Delaware                      0-23900                  51-0393382
----------------------------         ---------------      ----------------------
(State or other jurisdiction         (Commission           (IRS Employer
 of incorporation)                    file number)        Identification Number)


                   8115 N.W. 29th Street, Miami, Florida 33122
               ---------------------------------------------------
               (Address of principal executive offices)(Zip Code)


                                 (305) 477-6701
              ----------------------------------------------------
              (Registrant's telephone number, including area code)


         ---------------------------------------------------------------
         (Former name and former address, if changed since last report)




This Form 8-K/A is being filed to reflect the  restatement of certain  financial
statements of the Company  included in an amended Form 10-Q for the period ended
June 30, 2000 and the resulting revisions to the pro forma financial  statements
previously filed in connection with the sale by Fusion Networks  Holdings,  Inc.
of IDM Environmental Corp. as reflected on Form 8-K dated August 18, 2000.

Item 7.  Financial Statements and Exhibits

  (b)      Pro Forma Financial Information

           Introduction to Pro Forma Financial Information..................4

           Pro Forma Condensed Consolidated Balance Sheet at June 30,
           2000.............................................................5

           Pro Forma Condensed Consolidated Statement of Operations for the
           six months ended June 30, 2000...................................6

           Pro Forma Condensed Consolidated Statement of Operations for the
           year ended December 31, 1999.....................................7

                                       2



                                   SIGNATURES

     Pursuant to the  requirements  of the Securities  Exchange Act of 1934, the
Registrant  has duly caused this Current  Report on Form 8-K to be signed on its
behalf by the undersigned hereunto duly authorized.

                                                FUSION NETWORKS HOLDINGS, INC.

Dated: January 12, 2001
                                                By:  /s/ Gary Goldfarb
                                                    ----------------------------
                                                    Gary Goldfarb
                                                    President

                                       3



                 INTRODUCTION TO PRO FORMA FINANCIAL INFORMATION


The pro forma condensed  consolidated balance sheet of Fusion Networks Holdings,
Inc. as of June 30, 2000 reflects the financial position of the Company assuming
the disposition of IDM Environmental Corp. took place on June 30, 2000 and after
giving effect to that disposition.

The pro forma condensed consolidated statements of operations for the six months
ended June 30, 2000 and the fiscal year ended  December 31, 1999 gives effect to
the disposition as if such disposition occurred on January 1, 1999 and are based
on the  operations of the Company for the six months ended June 30, 2000 and the
fiscal year ended December 31, 1999.  Nonrecurring  charges or credits resulting
directly from the transaction such as asset write-downs,  liability accruals and
severance have not been considered in these pro forma statements of operations.

The unaudited pro forma condensed  consolidated  financial  statements have been
prepared  by the  Company  based  upon  assumptions  deemed  proper  by it.  The
unaudited pro forma condensed consolidated financial statements presented herein
are shown for illustrative  purposes only and are not necessarily  indicative of
the future financial position or future results of operations of the Company, or
of the  financial  position or results of  operations  of the Company that would
have actually  occurred had the transaction been in effect as of the date or for
the period presented.

The unaudited pro forma condensed  consolidated  financial  statements should be
read in conjunction with the historical  financial  statements and related notes
of the Company.


                                       4



                         PRO FORMA FINANCIAL INFORMATION
          FUSION NETWORKS HOLDINGS, INC. AND CONSOLIDATED SUBSIDIARIES
         PRO FORMA CONDENSED CONSOLIDATED BALANCE SHEET AT JUNE 30, 2000
                                   (Unaudited)


                                                                     Proforma
                                                      Historical     Adjustments    Proforma Results
                                                     ------------   -------------   ----------------
                                                                           

ASSETS

Current Assets:
   Cash                                                $3,307,159      (134,909) (2)   $3,172,250
   Accounts receivable                                  4,034,981    (4,034,981) (2)            0
   Notes Receivable                                                      58,881  (2)       58,881
   Other loans                                            174,820         2,890  (2)      177,710
   Recoverable income taxes                               650,242      (650,242) (2)            0
   Prepaid expenses and other
      current assets                                    2,320,461    (2,020,078) (2)      300,383
                                                     -------------  -------------      ------------
              Total Current Assets                     10,487,663    (6,778,439)        3,709,224
                                                     -------------  -------------      ------------

Goodwill, net of accumulated
   amortization                                                                                 0
Investments in and advances to
   unconsolidated affiliates                              929,266      (929,266) (2)            0
Investment in equity securities                         6,657,000                       6,657,000
Investment in affiliate at cost                         1,853,125    (1,853,125) (2)            0
Property, plant and equipment, net                      3,273,922    (1,618,436) (2)    1,655,486
Other assets                                              979,925      (979,925) (2)            0
                                                     -------------  -------------      ------------
                                                      $24,180,901  $(12,159,191)      $12,021,710
                                                     =============  =============      ============
LIABILITIES AND STOCKHOLDERS' EQUITY

Current Liablities:
   Current portion of long-term debt                      $12,819      $(12,819) (2)  $         -
   Accounts payable and accrued expenses                9,638,208   (9,128,701)  (2)      509,507
   Billings in excess of costs and estimated
     earnings                                           1,130,597    (1,130,597) (2)            0
   Due to officers                                        100,418      (100,418) (2)            0
                                                     -------------  -------------      ------------
              Total Current Liabilities                10,882,042   (10,372,535)          509,507

Long-Term Debt                                          4,015,810       (15,810)        4,000,000
                                                     -------------  -------------      ------------
              Total Liabilities                        14,897,852   (10,388,345)        4,509,507
                                                     -------------  -------------      ------------

Commitments and Contingencies

Stockholders' Equity:
   Common stock, authorized 60,000,000 shares
    $.00001 par value, issued and outstanding
     37,036,226 at June 30, 2000 and 33,113,333 at
     December 31, 1999.                                       370                            370
   Additional paid-in-capital                          65,032,705    (9,209,817) (2)  55,822,888
   Foreign currency translation                             7,271                          7,271
   Retained earnings                                  (36,914,297)    7,354,181  (1) (29,475,326)
                                                                      1,405,637  (3)
                                                                     (1,320,847) (2)
                                                    -------------  -------------    ------------
   Accumulated other comprehensive income (loss):
     Foreign currency translation                           7,271                          7,271
     Unrealized (loss) on equity securities           (18,843,000)                   (18,843,000)
                                                    -------------  -------------    ------------
Total Stockholders' Equity                              9,283,049    (1,770,846)       7,512,203
                                                    -------------  -------------    ------------
                                                      $24,180,901  $(12,159,191)     $12,021,710
                                                    =============  =============     ===========



                                       5


                         PRO FORMA FINANCIAL INFORMATION
          FUSION NETWORKS HOLDINGS, INC. AND CONSOLIDATED SUBSIDIARIES
            PRO FORMA CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
                     FOR THE SIX MONTHS ENDED JUNE 30, 2000
                                   (Unaudited)



                                                            Proforma           Proforma
                                       Historical          Adjustments         Results
                                    ----------------      -------------      ------------
                                                                  

Contract Income                      $1,978,209        $(1,978,209)(3)     $         -
Direct Job Costs                      1,304,730         (1,304,730)(3)               -
                                     -----------       ------------         -----------
Gross Profit (Loss)                     673,479           (673,479)                  0
                                     -----------       ------------         -----------
Costs and Expenses:
   General and administrative
     expenses                         5,130,776         (1,888,689)(3)       3,242,087
   Product development and
     engineering                      2,518,082                              2,518,082
   Sales and marketing                  881,530                                881,530
   Write-down of Goodwill             7,354,181         (7,354,181)(1)               -
   Depreciation and amortization        214,396            (66,101)(3)         148,295
                                     -----------       ------------         -----------
                                     16,098,965         (9,308,971)          6,789,994
                                     -----------       ------------         -----------
Loss from Operations                (15,425,486)        (8,635,492)         (6,789,994)

Other Income (Expense):
   Loss on disposal of property,
     plant and equipment                (74,382)            74,382(3)                -
   Loss on sale of subsidiary                           (1,320,847)(2)      (1,320,847)
   Miscellaneous income (expense)       (72,740)                 -             (72,740)
   Interest income (expense)             32,280             49,944(3)           82,224
                                      -----------       ------------         -----------
                                       (114,842)        (1,196,521)         (1,311,363)

Loss before Credit for Income Taxes (15,540,328)        (7,438,971)         (8,101,357)
Provision (Credit) for Income Taxes           -                  -                   -
                                     -----------       ------------         -----------
Net Loss                           ($15,540,328)       ($7,438,971)        ($8,101,357)
                                     ===========       ============         ===========

Loss per Share:
   Basic loss per share                  $(0.44)                                $(0.23)
                                     ===========                            ===========
   Diluted loss per share                $(0.44)                                $(0.23)
                                     ===========                            ===========

Basic common shares outstanding      35,074,780                             35,074,780
Diluted common shares outstanding    35,074,780                             35,074,780



                                       6



                         PRO FORMA FINANCIAL INFORMATION
          FUSION NETWORKS HOLDINGS, INC. AND CONSOLIDATED SUBSIDIARIES
            PRO FORMA CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
                      FOR THE YEAR ENDED DECEMBER 31, 1999
                                   (Unaudited)


                                                     Proforma           Proforma
                                      Historical    Adjustments         Results
                                   ----------------  -------------    ------------
                                                             

Contract Income                                -                                 -
Direct Job Costs                               -                                 -
                                    --------------                   ---------------
Gross Profit (Loss)                            0                                 0
                                    --------------                   ---------------
Costs and Expenses:
   General and administrative
     expenses                            386,742                           386,742
   Product development and
     engineering                       1,038,671                         1,038,671
   Sales and marketing                   164,249                           164,249
   Consulting expenses                19,575,000                        19,575,000
   Merger Expenses                       238,350                           238,350
                                    --------------                   ---------------
                                      21,403,012                        21,403,012
                                    --------------                   ---------------
Loss from Operations                 (21,403,012)                      (21,403,012)

Other Income (Expense):
   Interest income (expense)              29,040                            29,040
                                    --------------                   ---------------
                                          29,040                            29,040

Loss before Credit for Income Taxes  (21,373,972)                      (21,373,972)

Provision (Credit) for Income Taxes            -              -                  -
                                    --------------    ------------   ---------------

Net Loss                            ($21,373,972)                     ($21,373,972)
                                    ==============                   ===============
Loss per Share:
   Basic loss per share                   $(0.64)                           $(0.64)
                                    ==============                   ===============
   Diluted loss per share                 $(0.64)                           $(0.64)

Basic common shares outstanding       33,113,333                        33,113,333

Diluted common shares outstanding     33,113,333                        33,113,333




               See Notes to Pro Forma Consolidated Financial Data

                                       7

                         FUSION NETWORKS HOLDINGS, INC.
              Notes to Pro Forma Consolidated Financial Statements
                                  June 30, 2000



(1)  To eliminate the write down of goodwill of $ 7,354,181  associated with the
     merger if IDM. The  write-down  of the  goodwill  was  recorded  during the
     quarter  ended June 30,  2000 to reflect  the sale of IDM to the  principal
     officers and directors of IDM the "purchasers".

(2)  To  record  the  sale of the net  assets  of IDM,  the  issuance  of a note
     receivable  from  the  purchasers  to the  company  of $  58,881,  and  the
     corresponding loss of ($ 1,320,847) associated with the sale.

(3)  To  eliminated  the  net  loss  of  $1,405,637  of IDM  from  the  date  of
     acquisition  to June 30, 2000  included in the  consolidated  statement  of
     operations for the period ended June 30, 2000.