UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
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CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report: October 27, 2005
Date of earliest event reported: October 21, 2005
NOVA COMMUNICATIONS, INC.
(Exact name of registrant as specified in its charter)
NEVADA 333-82608 95-4756822
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
1005 Terminal Way, Suite 110, Reno, NV 89502-2179
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (775) 324-8531
(Former Name or Former Address, if Changed Since Last Report)
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))
SECTION 2- FINANCIAL INFORMATION
ITEM 2.01 COMPLETION OF ACQUISITION OR DISPOSITION OF ASSETS
As of October 21, 2005, the Company, through its wholly-owned
subsidiary Nacio Systems, Inc., newly-formed Nevada corporation, has
completed the acquisition of the all of the business and operating
assets, including all intellectual property, of Nacio Systems, Inc,
based in Novato, California. In its report dated June 2, 2005, the
Company disclosed the execution of the Asset Acquisition Agreement,
subject to the approval of the shareholders of Nacio Systems, Inc., the
selling corporation. Such shareholder approval has now been obtained.
The consideration paid by the Company for the acquired assets was the
Company's common stock with a market value of $8,000,000.
The definitive Asset Purchase Agreement and corollary documents and
exhibits plus the consolidated financial statements for the Company are
attached as exhibits to this report.
SECTION 9- FINANCIAL STATEMENTS AND EXHIBITS
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
EXHIBIT NO. DESCRIPTION
2.1 Asset Acquisition Agreement and related
documents and exhibits thereto.
99.1 Consolidated Financial Statements
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.
Nova Communications Ltd.
By: /s/ LESLIE I. HANDLER
President
Dated: October 27, 2005