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HSYN.PK > SEC Filings for HSYN.PK > Form 8-K on 15-Jul-2008All Recent SEC Filings

Show all filings for HOMELAND SECURITY NETWORK, INC. | Request a Trial to NEW EDGAR Online Pro

Form 8-K for HOMELAND SECURITY NETWORK, INC.


15-Jul-2008

Entry into a Material Definitive Agreement, Financial Statements


ITEM 1.01 Entry into a Material Definitive Agreement.

On June 6, 2008 the issuer completed the purchase the Elfstrom Water Purification System. The system is a containerized water purification unit with a capacity of 90 cubic meters per day (90,000 liters per day) at 1500kPa manometer supplying potable water for 4500 people (at 20 liter per day per person consumption rate). The unit is powered by solar, wind, diesel generator, or vehicle alternator dispatch and requires no external power source. The unit can also be trailer mounted, or vehicle mounted. The unit is ruggedized for marginal terrain overland travel and designed for long term trouble free service and maintenance.

To complete the purchase of the system the issuer issued of 1,000,000 shares of the Buyer's common stock to seller as follows: (a) 100,000 shares upon the signing of this Bill of Sale; and (b) the balance will be issued in increments of 300,000 shares each time the Buyer accumulates Net Revenue from the use of the property which is the subject of this purchase in the amount of $2,000,000.
The issuer also entered into an employment agreement with Seller commencing June 6, 2008.



ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.

Exhibit Number                  Description

     10.1        Bill of sale dated June 6, 2008.
     10.2        Employment agreement with Robert Elfstrom.

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