Item 8.01 Other Events

On May 13, 2009, Registrant's Board of Directors appointed Andre Scholz to serve as a director of Registrant and as a consultant. As a consultant, Mr. Scholz will serve in the roles of Chief Technology Officer for Registrant and in the roles of President and Chief Executive Officer for Kiwibox Media, Inc., Registrant's wholly owned and principal business subsidiary. Registrant and Mr. Scholz are in the process of finalizing the terms and provisions of a consulting agreement that shall cover the appointments and provide for his compensation as soon as practicable.

Mr. Scholz, 31 years of age, is a German citizen, is currently the General Manager / CEO of Interscholz Beteiligungs GmbH and Interscholz Internet Services GmbH & Co. KG, German companies located in Stuttgart, Germany. These companies, in which Mr. Scholz owns a controlling interest, operate telecommunications and city carrier services in Germany, provide business consulting for high-traffic websites and telecommunication integration for service providers worldwide. Mr. Scholz also owns and manages Advanced Technology Group Deutschland GmbH, also located in Stuttgart, which is engaged in the development and marketing of computer, patented algorithms in the European market for pattern recognition. Mr. Scholz received an advanced degree in Electrical Engineering from the University of Stuttgart in 2002.

In connection with its business reorganization, Registrant has consolidated the situs of its business operations in its New York City offices, located at 330 West 38th Street, now its principal offices, and has terminated its lease for its New Jersey office located at 1250 Route 28, Branchburg, New Jersey.