8-K 1 isof-8kicrypt.txt ISOF 8-K ICRYPT U. S. SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K -------- CURRENT REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report: November 15, 2002 --------------------------------- (Date of earliest event reported) Innovative Software Technologies, INC. ----------------------------------------------------------------- (Exact name of small business issuer as Specified in its Charter) California 000-1084047 95-4691878 ---------------------------- ------------------------ ------------------- (State or Other Jurisdiction (Commission File Number) (IRS Employer of Incorporation) Identification No.) 204 NW Platte Valley Drive, Riverside, MO 64150 ----------------------------------------------- (Address of Principal Executive Offices) (816) 584-8030 -------------- (Registrant's Telephone Number) Items 1 through 4. Not applicable Item 5. Other Events On March 12, 2002, Innovative Software Technologies, Inc. (the "Company") entered into a definitive agreement to acquire iCrypt, Inc., a Torrance, California, technology company. The Company completed the due diligence process in both the financial and technical areas and determined that certain terms and conditions precedent to close could not be met. On November 5, 2002, the Company submitted a formal termination letter to iCrypt, Inc. informing them of the Company's intention to terminate the acquisition of iCrypt, Inc. under the terms and conditions of the original agreement. Item 6 and 7. Not applicable SIGNATURES ---------- In accordance with the requirements of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Innovative Software Technologies, Inc. Date: November 15, 2002 /s/ Douglas S. Hackett -------------------------- Douglas S. Hackett President, Chief Executive Officer and Director /s/ Linda W. Haslem ------------------------ Linda W. Haslem Chief Financial Officer