8-K

                                  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

                                  July 5, 2007
                 (Date of Report, date of earliest event reported)

                           OBN HOLDINGS, INCORPORATED
               (Exact name of registrant as specified in its charter)


          NEVADA                   333-108300                  81-0592921
(State or other jurisdiction      (Commission                (IRS Employer
     of incorporation)             File Number)            Identification No.)


            8275 South Eastern Ave., Suite 200; Las Vegas, Nevada 89123
                    (Address of principal executive offices)

                                 (702) 938-0467
                           (Issuer's telephone number)


             (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:

[ ] 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-12 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.

On July 5, 2007, the Company completed its acquisition of substantially all
the assets of Chengdu Shengang Lutong Tech Ltd ("Lutong Tech"). The Company
paid aggregate consideration of six million five hundred thousand (6,500,000)
restricted shares of the Company's common stock, valued at approximately
six million five hundred thousand US dollars ($6,500,000).

Lutong Tech is engaged in Video Detection Technology and Correlative Product
Research and Development.  It holds three patents and contracts to install
video traffic systems in Beijing, Shanghai, Guangzhou, Nanjing and numerous
municipalities.  There are 47 degreed employees.   Product lines include the
Video Traffic Information Detector SGS series and the Video Traffic Violation
SGW series installed at traffic light intersections. Lutong Tech is located in
Chengdu, Peoples Republic of China.



SECTION 9 - FINANCIAL STATEMENTS AND EXHIBITS

Item 9.01 Financial Statements and Exhibits

(a) and (b) In accordance with the requirements of Item 9.01, audited
financial statements of Lutong Tech and unaudited proforma financial
statements will be filed with the SEC within 71 days after the date of this
filing.

(d) The Asset Purchase Agreement on the purchase of assets of Lutong Tech
has been filed as exhibit 10.1 to this report.




                                 SIGNATURES

Pursuant to the requirements of the Act of 1934, the registrant has duly
caused this report to be signed on its behalf by the undersigned hereunto duly
authorized.

                                            OBN HOLDINGS, INCORPORATED
                                                   (Registrant)

Date: July 11, 2007                          /s/ Roger Neal Smith
                                       By:  Roger Neal Smith
                                            President and CEO

EX-10.1

Exhibit 10.1


          ASSET AND BUSINESS ACQUISITION AGREEMENT

This ASSET AND BUSINESS ACQUISITION AGREEMENT (this "AGREEMENT") is entered
into as of July 1, 2007 and comes into effect on the same day by and between
the following two Parties:

(1) Company Name:     Chengdu Shengang Lutong Tech Ltd. ("LUTONG TECH")

    Type of Company:  A limited company, registered in Chengdu,
                      Peoples Republic of China

    Business Address: 12th Floor, Yangcheng Bldg. No. 6, Ximiangiao Hengjie
                      Chengdu, China 610041

(2) Company Name:     OBN Holdings Inc ("OBNI").

    Type of Business: A U.S. Public Company trading under the symbol
                      (OTC: OBNI) duly incorporated and validly existing
                      under the laws of Nevada, USA

    Business Address: 8275 South Eastern Ave., Suite 200,
                      Las Vegas, Nevada, USA 89123

WHEREAS certain individuals and/or businesses, hereinafter referred to as
"SHAREHOLDERS", own all of the assets of LUTONG TECH, which are verified for
the purposes of this transaction on the true financial statements of the
aforementioned company under US Generally Accepted Accounting Principles
("GAAP").

WHEREAS, SHAREHOLDERS shall transfer 100% of the assets and business of
LUTONG TECH to OBNI, and OBNI shall acquire the assets and business of LUTONG
TECH from SHAREHOLDERS in exchange for six million (6,000,000) OBN Holdings
shares as consideration for this transaction.

WHEREAS, the business operations of LUTONG TECH do not change as regards to
administrative and operational functions and all cash and accounting
activities must be reported to all shareholders on the 20th of each month in
English and Chinese.  In accordance with the International Chamber of
Commerce [ICC] rules English will be the official and correct version of all
documentation and means of communication.

WHEREAS, it is understood by each Party that in the unlikely event of any
dispute between one or more Parties that is unresolved within 10 working days
the Parties agree to refer such matters for resolution to the closest ICC
Arbitration Centre.  Cost of such dispute resolution proceedings will be
borne by each of the Parties to the dispute.  All judgments of the
Arbitration Centre are final and will be accepted by all Parties.

WHEREAS, both Parties recognize their mutual responsibility to each other,
each Party recognizes that they have a special area of responsibility for the
success of OBNI and LUTONG TECH. LUTONG TECH has the special responsibility
for the ongoing management, administration and timely reporting of LUTONG
TECH work and progress and to maintain the coordination and communication
between all Parties; OBNI has the special responsibility to work with the
management of LUTONG TECH to raise capital in the stock and other markets in
the United States of America and elsewhere to provide capital on a mutually
agreed schedule and within the applicable laws of the USA.

WHEREAS, both Parties agree that the assets and business operations of LUTONG
TECH will not be sold other than by a unanimous vote of the Board of
Directors of OBNI.

WHEREAS, further funding initiatives will come from OBNI to ensure further
growth of the LUTONG TECH.

WHEREAS, upon LUTONG TECH'S maturation within OBNI, OBNI shall spin-off
LUTONG TECH into its own public vehicle (100% ownership: 80% to SHAREHOLDERS,
as outlined in escrow agreement and 20% to OBNI) pursuant to all US
Regulatory Rules.

NOW, THEREFORE, upon friendly consultation and consideration of the recitals,
promises and the mutual covenants and agreements hereinafter set forth, the
Parties hereby enter into this Agreement as follows:

1.   TRANSFER OF THE ASSETS AND BUSINESS CONTRACTS
1.1  SHAREHOLDERS agree to transfer to OBNI all of their ownership and
     interest relating to all equipment and assets owned or controlled by
     LUTONG TECH at the net book value thereof as of July 1, 2007. OBNI agrees
     to acquire all SHAREHOLDERS' ownership and interest relating to all
     equipment and assets at the net book value thereof as of July 1, 2007.

1.2  As the business is already in operation before the formal establishment
     of OBNI, and LUTONG TECH has entered into business contracts for and on
     behalf of OBNI, as of the date hereof, some of the said business contracts
     are still under way for their performance. SHAREHOLDERS and OBNI agree to
     transfer them to OBNI at the time of closing.

1.3  The Parties agree to transfer the whole asset, including business
     contracts and intellectual properties of LUTONG TECH, in consideration for
     the SHAREHOLDERS receiving six million (6,000,000) OBN Holdings shares.
     Further OBNI agrees to spin off the LUTONG TECH once it has matured in
     OBNI, in which case SHAREHOLDERS will own 80% of the spin-off LUTONG TECH
     in consideration for the return back to OBNI of three million six hundred
     thousand (3,600,000) OBN Holdings shares received by SHAREHOLDERS.  The
     estimated time for the spinoff or maturation of LUTONG TECH within OBNI
     is between 6 and 12 months.

1.4  OBNI's corporate offices shall receive four percent (4%) of the gross
     revenue generated from the products and services provided by LUTONG TECH
     until such time that OBNI spins off LUTONG TECH. Once LUTONG TECH has been
     spun off by OBNI, OBNI's corporate office shall only receive four percent
     (4%) of the gross revenue generated from the products and services
     provided by LUTONG TECH from contracts and agreements entered into by
     LUTONG TECH during the time that it was a wholly-owned subsidiary of OBNI.
     Revenue shall be paid by LUTONG TECH to OBN on a monthly basis to the
     OBNI nominated bank account.

1.5  Consulting  and Advisory Fees in the Amount of five hundred thousand
     (500,000) restricted shares are to be included as compensation for
     introductions and representations made by  Qualico Capital Asia Ltd, Hong
     Kong on behalf of both parties in this transaction. These Consulting and
     Advisory Fees shall be paid by OBNI including the cost of the share
     transfers from OBNI to Qualico Capital Asia Ltd.

2.   REPRESENTATIONS AND WARRANTS
2.1  Each of SHAREHOLDERS, LUTONG TECH and OBNI represents and warrants
     respectively to the other as follows:

     (a) Each of SHAREHOLDERS, LUTONG TECH and OBNI warrants that they are duly
         registered, have the capacity and power requisite for a company, and
         have taken all necessary actions for the execution and performance of
         this Agreement.

     (b) The performance of the transaction is not subject to the consent,
         approval or order of any other third parties, nor is it subject to
         any conditions precedent as registration with, qualification
         verification by or document delivery to any other third parties save
         and except any Chinese Government authorities acting within the laws
         of China.

3.   GENERAL PROVISIONS
3.1  Costs: OBNI and SHAREHOLDERS shall bear the respective costs incurred
     hereunder.

3.2  Counterparts:  This Agreement may be executed in two (2) or more
     counterparts, each of which will be deemed to be an original copy of this
     Agreement and all of which, when taken together will constitute an
     integral party of this Agreement.

IN WITNESS HEREOF, the Parties have caused this Agreement to be executed by
their duly authorized representatives as of the date first hereinabove
mentioned.


OBNI:                                     LUTONG TECH:
OBN Holdings, Incorporated 	          Chengdu Shengang Lutong Tech Ltd.

Signed by: /s/Roger Neal Smith            Signed by: /s/Wu, QingXiang
Name: Roger Neal Smith                    Name: Wu, QingXiang
Position: Chief Executive Officer         Position: Board Chairman


SHAREHOLDERS:

Signed by: /s/Wu, QingXiang
Name: WU, QingXiang
Position: Shareholder Representative