~~SECURITIES~~UNITED 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): March 22, 2002 -------------- QueryObject Systems Corporation (Exact name of registrant as specified in its charter) Delaware 1-13587 94-3087939 -------------------------------------------------------------------------------- (State or other jurisdiction (Commission (IRS Employer of incorporation) File Number) Identification No.) One Expressway Plaza, Suite 208, Roslyn Heights, New York 11577 --------------------------------------------------------------- (Address of principal executive offices) Registrant's telephone number, including area code: (516) 228-8500 -------------- N/A --- (Former name or former address, if changed since last report.) Item 2. Acquisition or Disposition of Assets On March 22, 2002 (the "Closing Date"), QueryObject Systems Corporation (the "Company") closed the sale of substantially all its assets pursuant to the Asset Purchase Agreement by and between the Company and CrossZ Solutions S.p.A. ("CrossZ Solutions) dated December 12, 2001 (the "Asset Purchase Agreement"), attached hereto as Exhibit 2.1. The sale was approved by the stockholders of the Company in their special meeting held on March 13, 2002. Description of Assets --------------------- The assets sold by the Company included all of its assets, property and business, owned, held or used primarily in the conduct of its business. The assets include all intellectual property rights developed or acquired by the Company listed on Schedule 3.07(a) to the Asset Purchase Agreement, the personal property, equipment, computer systems, communications equipment, furniture and office equipment listed on Schedule 3.07(d) to the Asset Purchase Agreement, all rights and obligations under the Company's contracts, agreements, licenses, commitments, sales and purchase orders and other instruments (to the extent they are assignable) under the contracts listed on Schedule 3.10 to the Asset Purchase Agreement, and the Company's accounts receivable consisting of $271,418 due from CrossZ Solutions to the Company pursuant to the Reseller Agreement (as defined hereinafter). Consideration ------------- Pursuant to the terms of the Asset Purchase Agreement, the Company received an aggregate consideration of $900,000, of which $250,000 was received upon the execution of the Asset Purchase Agreement, $250,000 was received on January 16, 2002, and $400,000 was received on March 22, 2002. All of the consideration was paid to the Company and not to the stockholders of the Company and were used to pay-off the liabilities of the Company. Relationship with Purchaser --------------------------- CrossZ Solutions and the Company were parties to a certain International Reseller Agreement dated November 12, 1998, as amended (the "Reseller Agreement"), under which CrossZ Solutions was the exclusive distributor of the Company's products in the Italian market and non-exclusive distributor in other European countries. The Reseller Agreement provided CrossZ Solutions with price discounts on products purchased from the Company for resale, based on CrossZ Solutions' annual volume of sales of the Company's products. Such price discounts were comparable to those offered by the Company to its other resellers. Pursuant to the Reseller Agreement, the Company had received net revenues of $398,000, $221,500 and $697,639 for the fiscal years 1999, 2000 and the nine months ended September 30, 2001, respectively. The assets sold by the Company included accounts receivable of $271,414 from CrossZ Solutions which arose under the Reseller Agreement. The Company and CrossZ Solutions have no common officers, directors or control persons. CrossZ Solutions' principal executive office is located at Salita Scudillo 20, 80133, Naples, Italy. Its telephone number is 011- (34/081) 734-8074. -2- ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS (a) Pro Forma Financial Information: It is impracticable to provide the required pro form financial information at the time this Report is filed. (b) Exhibits: *2.1 Asset Purchase Agreement dated December 12, 2001 by and between the Company and CrossZ Solutions S.p.A. ------------------------------ *Filed herewith SIGNATURE 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. QUERYOBJECT SYSTEMS CORPORATION Dated: March 26, 2002 By: /s/ Daniel Pess ---------------------------------- Name: Daniel Pess Title: Executive Vice President and Chief Financial Officer 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): June 17, 2008

QueryObject Systems Corporation
(Exact name of registrant as specified in its charter)

Delaware	000-53138	94-3087939
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

c/o Olshan Grundman Frome Rosenzweig & Wolosky LLP 65 East 55th Street, Third Floor New York, New York		10022
(Address of principal executive offices)		(Zip Code)

Registrant’s telephone number, including area code: (212) 451-2300

N/A

(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 (see General Instruction A.2. below):

¨ 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-2(b) 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))

Item 3.02.

Unregistered Sales of Equity Securities.

On June 17, 2008, QueryObject Systems Corporation (the “Company”) issued to Dalewood Associates LP (“Dalewood”) 1,924,683 shares of common stock of the Company, par value $.003 per share (“Common Stock”) in payment of $5,774.05 in interest that had accrued through such date on that certain Senior Convertible Promissory Note, dated as of May 19, 2008 (the “Dalewood Note”) made by the Company in favor of Dalewood. In addition, the Company entered into an amendment to the Dalewood Note extending the expiration date thereof to May 19, 2009, which amendment is filed herewith as Exhibit 10.1.

On June 17, 2008, the Company issued to BRMR LLC (“BRMR”) 1,082,633 shares of Common Stock in payment of $3,247.90 in interest that had accrued through such date on that certain Senior Convertible Promissory Note, dated as of May 19, 2008 (the “BRMR Note”) made by the Company in favor of BRMR. In addition, the Company entered into an amendment to the BRMR Note extending the expiration date thereof to May 19, 2009, which amendment is filed herewith as Exhibit 10.2.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

Exhibit Number	Description

10.1	Amendment No. 1, dated June 17, 2008, to the Senior Convertible Promissory Note, dated May 19, 2008, made by QueryObject Systems Corporation in favor of Dalewood Associates LP.

10.2	Amendment No. 1, dated June 17, 2008, to the Senior Convertible Promissory Note, dated May 19, 2008, made by QueryObject Systems Corporation in favor of BRMR LLC.

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.

	QUERYOBJECT SYSTEMS CORPORATION


Dated: June 23, 2008	By:	/s/ Daniel Pess
		Name: Daniel Pess Title: President

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