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): April 23, 2004
INNOVATION HOLDINGS, INC.
(Exact name of Registrant as specified in its charter)
Nevada 000-2777 91-1923510
(State or other (Commission File Number) (I.R.S. Employer
jurisdiction of Identification No.)
incorporation)
14622 Ventura Blvd., Suite 1046, Sherman Oaks, CA 91405
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (818) 426-8734
Exhibit Index appears on page -2-
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Item 5. Other Events.
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On April 23, 2004, Innovation Holdings, Inc., a Nevada corporation,
effectuated a 1-for-500 reverse stock split in order to foster shareholder value
and to allow it to move forward with its efforts to acquire several target
entities. In connection with the reverse stock split, the Company's trading
symbol was changed by NASDAQ from "INOV" to "IVHO" and the Company began trading
under the new symbol effective immediately.
The Company also announced it had entered into an exclusive marketing
rights agreement with CrossGel, Inc., a privately held Utah corporation
("CrossGel"), pursuant to which IVHO would create and provide all media and
marketing for CrossGel and, if successful, engage in further discussions to
acquire the proprietary rights to the entire ergonomic technology which forms
the basis of the CrossGel product line.
Consummation of any prospective merger would be subject to certain
additional items including completion of a successful marketing plan,
negotiation of a mutually acceptable agreement including, among other things,
approval of the merger and other related approvals by both the shareholders and
boards of directors of both CrossGel and IVHO.
A copy of the press release issued by IVHO on April 26, 2004 is attached
hereto as Exhibit 99.1 and is hereby incorporated by reference.
Item 7. Financial Statements and Exhibits
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(a) Press Release, dated April 26, 2004, by IVHO.
EXHIBIT INDEX
Exhibit
No. Description
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99.1 Press Release, dated April 26, 2004, by IVHO.
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.
INNOVATION HOLDINGS, INC.
Date: April 26, 2004 /s/ Robert Blagman
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Name: Robert Blagman
Title: Chief Executive Officer