Resignation of Chief Financial Officer

Effective July 6, 2009, Ms. Teresa McWilliams resigned as the Chief Financial Officer and Principal Financial Officer of Next 1 Interactive (the "Company"). Ms. McWilliams resignation was not a result of any disagreements relating to the Company's operations, policies or practices.

Appointment of Chief Financial Officer

Effective July 6, 2009, the board of directors of the Company appointed Richard Sokolowski as the Company's Chief Financial Officer and Principal Financial Officer.

Mr. Sokolowski, age 56, combines over 25 years of experience in various industries and positions including finance, information technology & project management, operations and SEC reporting, including Sarbanes-Oxley compliance. Mr. Sokolowski spent the last eleven years in various capacities, most recently as Vice President-Corporate Controller, with Memry Corporation, a publicly-traded company listed on the American Stock Exchange. From 1995 through 1998 he was the Controller and Director of Management Information Services for Harco Laboratories, Inc. Previously, he had been associated with a number of different public and privately held companies holding various middle and senior management positions. Mr. Sokolowski earned a M.S. Degree in Computer Science from the University of New Haven and a B.S. Degree in Accounting from Central Connecticut State University. He is also a Certified Public Accountant (CPA), Certified Management Accountant (CMA), Certified Financial Manager (CFM) and Certified Information Technology Professional (CITP).

Family Relationships

Mr. Sokolowski does not have a family relationship with any of the officers or directors of the Company.

Related Party Transactions

There are no related party transactions reportable under Item 5.02 of Form 8-K and Item 404(a) of Regulation S-K.

Employment Agreement

Pursuant to an employment agreement, dated July 6, 2009 (the "Employment Agreement"), Mr. Sokolowski was appointed as the Company's Chief Financial Officer and Principal Financial Officer. The Employment Agreement is filed as Exhibit 10.1 to this Form 8-K and is incorporated by reference herein.

The initial term of the Employment Agreement is for a period of three years with a minimum base salary of no less than $150,000 per year of employment. Mr. Sokolowski will also be eligible for a discretionary cash bonus that may be set by the Company's board of directors from time to time. In addition, Mr Sokolowski will be eligible for a stock bonus of up to 25,000 shares of the Company's common stock; the common stock bonus issued will be based on the effectiveness of the systems and financial controls implemented by Mr. Sokolowski, which will be reviewed at the 90 day and 180 day anniversary of Mr Sokolowski's employment respectively.

(c) Exhibits

Exhibit
Number    Description

10.1      Employment Agreement