Item 1.01 Entry into a Material Definitive Agreement

On October 29, 2009, Lenox Resources, LLC, a Delaware limited liability company ("Lenox") which is an indirect subsidiary of MediaNet Group Technologies, Inc., a Nevada corporation (the "Company"), executed and closed on a Software Purchase Agreement with MSC, Inc., d/b/a Lariat (the "Agreement") for the purchase and assignment of database tracking, monitoring, statistic tools and widget software known as "Cinch" and "Connect" (the "Software") and associated copyrights. The purchase price of the Software was $400,000 paid in cash at closing, together with two percent (2%) of the common stock of the Company. The common stock payable to MSC, Inc., will not be dilutive to the Company's existing common shareholders. Pursuant to the Agreement, Lenox will hire certain staff of MSC, Inc., who are dedicated to the development of the Software. The Agreement also provides that MSC, Inc., will have a right to market the Software to its own clients as a distributor, with the exclusion of any sale that would compete with the Company.

The foregoing description of the Agreement is not complete and is qualified in its entirety by its reference to the Agreement, attached hereto as Exhibit 10.1 and incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits

Exhibit No. Description

10.1 Software Purchase Agreement dated October 29, 2009
99.1 Press release dated November 3, 2009

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