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
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED):
February 23, 2004
TANKLESS SYSTEMS WORLDWIDE, INC.
(fka) ELUTION TECHNOLOGIES, INC.
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(EXACT NAME OF REGISTRANT SPECIFIED IN CHARTER)
NEVADA 000-27549 88-0362112
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(STATE OF (COMMISSION FILE (IRS EMPLOYER
INCORPORATION) NUMBER) IDENTIFICATION NO.)
7650 East Evans, Suite C
Scottsdale, Arizona 85260
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(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE)
(480) 609-7575
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(REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE)
ITEM 5. OTHER EVENTS.
On February 23, 2004, the Registrant sent to the Securities and Exchange
Commission its Form D, Rule 506 Notice regarding its Five Hundred Thousand
Dollar ($500,000.00) private placement financing to accredited investors. The
investor receives a one year debenture with an interest rate of Ten percent
(10%) per year, payable quarterly. Further the investor receives One (1) share
of the restricted stock of the Registrant for each Two Dollars ($2.00) of
debentures purchased. As of February 20, 2004 the amount of debentures sold and
paid for was the sum of Two Hundred Ninety Three Thousand Seven Hundred Fifty
Dollars ($293,750.00). The Registrant believes it will complete the financing by
March 10, 2004.
This Five Hundred Dollar ($500,000.00) financing, after expenses and
commissions, will be used for working capital and product development by the
Registrant.
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.
TANKLESS SYSTEMS WORLDWIDE, INC.
By: /s/ Thomas Kreitzer
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Thomas Kreitzer, President
Dated: February 24, 2004