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: August 3, 2005
CHINA MOBILITY SOLUTIONS, INC.
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(Exact name of registrant as specified in its charter)
Florida 000-26559 330-751560
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(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
#900 - 789 West Pender Street, Vancouver, B.C. Canada V6C 1H2
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(Address of principal executive offices) (Postal Code)
Registrant's telephone number, including area code: (604) 632-9638
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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 CFR240.14d-2(b))
[_] Soliciting material pursuant to Rule 14a-12 under Exchange Act
(17 CFR240.14a-12)
[_] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act (17 CFR240.14d-2(b))
[_] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act (17 CFR240.13e-4(c))
Section 1 - Registrant's Business and Operations
Item 1.01 Entry into a Material Definitive Agreement
None
Item 1.02 Termination of a Material Definitive Agreement
None
Item 1.03 Bankruptcy or Receivership
None
Section 2 - Financial Information
Item 2.01 Completion of Acquisition or Disposition of Assets
China Mobility Solutions, Inc. (CHMS) has elected to exercise its option to
acquire 49% additional ownership of Quicknet for $4,000,000 from Beijing Di Ka
Wo Software Development Corp., beneficially owned by Fang Hu and Bo Yu.
The terms of the acquisition are that CHMS will pay $2,000,000 (USD) cash by
September 30, 2005 and $2,000,000 (USD) by December 31, 2005.
"Quicknet" is a joint venture legally named Beijing EW Xintong Science and
Technology Development Co. LTD. of which CHMS already had purchased 49% in 2004
under the Share Purchase Agreement. Such acquisition has been approved by
Beijing Huai Rou Bureau Foreign Trade and Economic Cooperation.
The 2004 Share Purchase Agreement for Quicknet provided that an additional 2% of
Quicknet could be purchased for $100 from sellers. Such 2% of Quicknet is held
by Beijing Shi Ji Rong Chuang Technology Development Corp. The 49% for which
CHMS is exercising its option is also held through Beijing Shi Ji Rong Chuang
Technology Development by the sellers.
CHMS, pursuant to an Amendment to the Share Purchase Agreement dated February
20, 2004, controls the Board of Quicknet.
Item 2.02 Results of Operations and Financial Condition
None
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Item 2.03 Creation of a Direct Financial Obligation or an Obligation Under an
Off-Balance Sheet Arrangement of a Registrant
None
Item 2.04 Triggering Events That Accelerate or Increase a Direct Financial
Obligation or an Obligation Under an Off-Balance Sheet Arrangement
None
Item 2.05 Costs Associated with Exit or Disposal Activities
None
Item 2.06 Material Impairments
None
Section 3 - Securities Trading Markets
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or
Standard; Transfer of Listing
None
Item 3.02 Unregistered Sales of Equity Securities
None
Item 3.03 Material Modification to Rights of Security Holders
None
Section 4 - Matters Related to Accountants and Financial Statements
Item 4.01 Changes in Registrant's Certifying Account
None.
Item 4.02 Non-Reliance on Previously Issued Financial Statements or a Related
Audit Report or Completed Interim Review
None.
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Section 5 - Corporate Governance and Mangement
Item 5.01 Changes in Control of Registrant
None
Item 5.02 Departure of Directors or Principal Officers; Election of Directors;
Appointment of Principal Officers
None
Item 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal
Year
None
Item 5.04 Temporary Suspension of Trading Under Registrant's Employee Benefit
Plans
None
Item 5.05 Amendments to the Registrant's Code of Ethics, or Waiver of a Provi-
sion of the Code of Ethics.
None
Section 6 - [Reserved]
Section 7 - Regulation FD
Item 7.01 Regulation FD Disclosure
None
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Section 8 - Other Events
Item 8.01 Other Events
None
Section 9 - Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits
A. Financial Statements - None
B. Exhibits - 10.20 Option Written Notice
10.21 Legal Letter
10.22 Amendment to the Share Purchase Agreement
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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 thereunto duly authorized.
Date: August 3, 2005 CHINA MOBILITY SOLUTIONS, INC.
By: /s/ Angela Du
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Angela Du, President
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