8-K

                       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): February 24, 2003


                          ACTIVE IQ TECHNOLOGIES, INC.
               (Exact Name of Registrant as Specified in Charter)



          Minnesota                    1-12401                   41-2004369
(State or Other Jurisdiction         (Commission               (IRS Employer
      of Incorporation)              File Number)            Identification No.)


     5720 Smetana Drive, Suite 101
         Minnetonka, Minnesota                                     55343
(Address of Principal Executive Offices)                         (Zip Code)



       Registrant's telephone number, including area code: (952) 345-6600




          (Former Name or Former Address, if Changed Since Last Report)










ITEM 5.       OTHER EVENTS.

On February 18, 2003, Active IQ Technologies, Inc. announced that it had entered
into an asset purchase agreement to sell all or substantially all of the assets
relating to its accounting software business conducted through Red Wing Business
Systems, Inc. and Champion Business Systems, Inc., the Company's wholly-owned
subsidiaries. The Company determined at the end of 2002 that the accounting
software business no longer fit its core strategy. The Company originally
acquired those subsidiaries, as well as FMS Marketing, Inc. (which was merged
into Red Wing Business Systems on December 31, 2001), in fiscal 2001. The assets
are being sold to a company that is principally owned by two key management
employees of the accounting software business. The sale is subject to
shareholder approval. The Company's press release dated February 18, 2003 is
attached to this Form 8-K as Exhibit 99.1 and incorporated by reference herein.

For the year ended December 31, 2002, the Company posted a total net loss of
$9.659 million comprised of a loss from continuing operations of $4.161 million
plus a loss on discontinued operations of $5.498 million related to the planned
sale of the accounting software business. The loss on discontinued operations
includes a loss from operations of $3.758 million, which included amortization
of intangible assets of $1.179 million and a goodwill impairment charge of
$2.131 million plus a loss on disposal of the accounting software business of
$1.740 million for the year ended December 31, 2002. For the year ended December
31, 2001, the Company posted a total net loss and a loss from continuing
operations of $9.447 million and $7.855 million, respectively. The loss related
to the discontinued operations for the year ended December 31, 2001 was $1.592
million which included amortization of intangible assets of $1.513 million.

The fully diluted net loss per common share was $0.77 for the year ended
December 31, 2002 and a fully diluted net loss per common share of $1.15 for the
year ended December 31, 2001. The loss per common share from continuing
operations for the years ended December 31, 2002 and 2001 were $0.33 and $0.96,
respectively. The weighted average common shares outstanding (basic and fully
diluted) for the years ended December 31, 2002 and 2001 were 12.532 million and
8.210 million, respectively.

Revenue from continuing operations was $499 thousand for the year ended December
31, 2002 compared to $463 thousand for the same period in 2001. Revenues of the
accounting software business for the years ended December 31, 2002 and 2001 were
$4.180 million and $2.248 million, respectively.

The financial data relating to the year ended December 31, 2002 contained in
this Item 5 are derived from our unaudited consolidated financial statements as
of and for the year December 31, 2002.

ITEM 7.  FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.

(c)      Exhibits




            EXHIBIT     DESCRIPTION OF DOCUMENT
            -------     -----------------------
                  
             99.1       Press release dated February 18, 2003.







                                       2




                                   SIGNATURES

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

                                            ACTIVE IQ TECHNOLOGIES, INC.

Date:  February 25, 2003                    By:      /s/ Jeffrey M. Traynor
                                                --------------------------------
                                                       Jeffrey M. Traynor
                                                    Chief Financial Officer





                                       3




                                  EXHIBIT INDEX




           EXHIBIT     DESCRIPTION OF DOCUMENT
           -------     -----------------------
                 
             99.1       Press Release date February 18, 2003.







                                       4

EX-99.1

                                                                    EXHIBIT 99.1


FOR IMMEDIATE RELEASE

           ACTIVE IQ ANNOUNCES DEFINITIVE AGREEMENT TO SELL ACCOUNTING
                     SUBSIDIARIES TO MANAGEMENT BUYOUT GROUP

      Sale Provides Opportunity To Focus Company Efforts On Online Document
               Management Services Via Its SmartCabinet Offering

MINNEAPOLIS, MN, FEBRUARY 18, 2003 - Active IQ Technologies, Inc. (Nasdaq:
AIQT), a leading provider of online document management services, today
announced that it has entered into a definitive agreement to sell substantially
all of the assets of its Red Wing Accounting Software Publisher division to a
group led by management of the division. The Red Wing division is comprised of
the business operations of Red Wing Business Systems, Inc., which includes
FMS/Harvest and Champion Business Systems, Inc., which are wholly-owned
subsidiaries of Active IQ. In consideration for these assets, the purchaser will
assume the liabilities of the division plus discharge Active IQ's remaining
indebtedness of $1.45 million incurred when it acquired the division. The sale
is subject to the approval of Active IQ's shareholders and other customary
closing conditions and is expected to close in approximately 45 days. Additional
terms of the deal were not disclosed.

This sale will allow both Active IQ and the Red Wing division to focus on
delivering services and products to their respective customers. Active IQ's
SmartCabinet provides an online document management service to leading
commercial real estate owners and operators nationwide. The Red Wing division
provides robust business and agricultural accounting systems to small and
medium-sized businesses, farms and ranches through more than 400 channel
partners. The Red Wing division has over 20,000 customers across North America.

ABOUT ACTIVE IQ
Active IQ Technologies (Nasdaq: AIQT) is a leading provider of online document
management services that are easy to implement and deliver a rapid return on
investment. The company's initial vertical industry solution is for the
commercial real estate market and has been adopted by major firms including
HCPI, Shorenstein and Trizec. Active IQ's SmartCabinet is delivered as a
completely managed, outsourced service that places paper and electronic
documents online for easy access and sharing. Active IQ is headquartered in
Minneapolis, Minnesota. For more information, visit www.activeiq.com or call
952-345-6600.

ABOUT RED WING BUSINESS SYSTEMS
Red Wing Business Systems was created through the acquisitions of Red Wing
Business Systems, Champion Business Systems and FMS/Harvest in 2001. The
acquired organizations have a combined 40-year history of improving financial
operation for growing businesses. Its accounting software is designed for
companies that have outgrown "starter" accounting software and need an
easy-to-use, feature-rich alternative to complex, high-dollar software. Red Wing
Business Systems is headquartered in Red Wing, Minnesota. For more information,
visit www.redwingsoftware.com or call 651-388-1106.

FORWARD LOOKING STATEMENTS.
Any forward-looking statements in this release are made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act of 1995.
Investors are cautioned that all forward-looking statements involve risk and
uncertainties including, without limitation, risks of intellectual property
litigation, risks in technology development and commercialization, risks in
product development and market acceptance of and demand for the Company's
products, risks of downturns in economic conditions generally and in the Web
content management tools and intranet information management markets
specifically, risks associated with competition and competitive pricing
pressures, risks associated with foreign sales and higher customer concentration
and other risks detailed in Active IQ's filings with the Securities and Exchange
Commission.