UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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): October 14, 2009
BLAST APPLICATIONS, INC.
(Exact Name of Registrant as Specified in Its Charter)
Delaware
000-53128
80-0031924
(State or Other Jurisdiction of
Incorporation)
(Commission File Number)
(I.R.S. Employer
Identification Number)
Blast Applications, Inc.
1 West Ames Court
Suite 240
Plainview, NY 11803
(Address of principal executive offices)
(516) 513-1506
(Registrant's telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations 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 240.14d-2(b)
__ 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 1 - Registrant's Business and Operations
Item 1.01 - Entry into a Material Definitive Agreement
No Change.
Item 2 - Financial Information
Item 2.01 - Completion of Acquisition or Disposition of Assets
On October 13, 2009, at a duly held meeting of the Company's Board of Directors the board resolved to have Big Pants continue with its core business of web design, marketing and development as a separate entity. Accordingly, by unanimous consent of the board of directors and by consent of the majority of the shareholders of Blast Applications, Inc. the Company has resolved to spin off its wholly owned subsidiary Big Pants Media, Inc. to the existing shareholders of Blast Applications, Inc. at a ratio of one (1) share of Big Pants common stock for every one hundred (100) shares of the Corporation's common stock currently owned by existing shareholders of the Corporation's common stock and further resolve to set the record date for the Big Pants dividend to be effective October 20, 2009 (the 'Record Date'), with the distributed dividend of Big Pants common stock payable approximately thirty (30) days from the Record Date in either book entry or certificate form, at the discretion of the board of directors.
As part of the transaction, Big Pants Media, Inc. will also take over certain liabilities and obligations originally accrued to the Company's balance sheet on behalf of Big Pants Media, Inc.
Item 5 - Corporate Governance and Management
Item 5.01 - Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory Arrangements of
Certain Officers.
No change.
Item 9 - Financial Statements and Exhibits
No Change.
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.
BLAST APPLICATIONS, INC. (Registrant)
Date: October 14, 2009
Candido Dino Luzzi
Chairman and Chief Executive Officer
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
BLAST APPLICATIONS, INC.
September 14, 2009
By: /s/ Candido Dino Luzzi Candido Dino Luzzi Chairman and Chief Executive Officer |