UNITED STATES
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):
June 9, 2005
TANKLESS SYSTEMS WORLDWIDE, INC.
(fka) ELUTION TECHNOLOGIES, INC.
(EXACT NAME OF REGISTRANT SPECIFIED IN CHARTER)
NEVADA | 000-27549 | 88-0362112 |
(STATE OF INCORPORATION) | (COMMISSION FILE NUMBER) | (IRS EMPLOYER IDENTIFICATION NO.) |
7650 East Evans Road, Suite C
Scottsdale, Arizona 85260
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE)
(480) 609-7575
(REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE)
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 (see General Instruction A.2. below):
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
ITEM 8.01. OTHER EVENTS.
The Registrant has sent to the Securities and Exchange Commission its Form D, Rule 506 Notice regarding its One Million One Hundred Thousand Dollar ($1,100,000.00) private placement financing to accredited investors. The investor receives One (1) share of the restricted stock of the Registrant for each Fifty Five Cents ($0.55) invested. As of June 9, 2005, the amount of shares sold and paid for was 250,000 shares for the sum of One Hundred Thirty Seven Thousand Five Hundred Dollars ($137,500.00). The Registrant believes it will complete the financing by July 31, 2005.
The Registrant intends to use this One Million One Hundred Thousand Dollar ($1,100,000.00) financing, after expenses and commissions, for working capital and to complete research on new technologies and the development on new products, to purchase inventory, to lease production facilities and acquire assembly equipment and related fixtures, to acquire information technology systems and hardware, and to proceed with the marketing, manufacturing and sale of a new line of products.
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 hereunto duly authorized.
TANKLESS SYSTEMS WORLDWIDE, INC.
By: /s/ Thomas Kreitzer
Thomas Kreitzer, Chief Executive Officer
Dated: June 9, 2005