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):
July 28, 2003 (July 16, 2003)
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CNE Group, Inc.
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(Exact Name of Registrant as Specified in Charter)
Delaware 1-9224 56-2346563
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(State or Other Jurisdiction (Commission File Number) (I.R.S. Employer
of Incorporation) Identification No.)
200 West 57th Street, Suite 507
New York, New York 10019
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(Address of Principal Executive Offices) (Zip Code)
212-977-2200
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Registrant's telephone number, including area code
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(Former name or former address, if changed since last report)
Item 5. Other Information
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Pursuant to a Letter dated July 16, 2003, the Internal Revenue Service ("IRS")
has accepted the Offer In Compromise dated April 24, 2003 from CareerEngine
Network, Inc. ("CareerEngine"), a wholly-owned subsidiary of the Registrant.
CareerEngine offered the IRS a payment of $50,000 to be made within 90 days
after the date of the IRS's acceptance, in full satisfaction of the IRS's Tax
Assessment and related interest and penalties thereon against CareerEngine of
approximately $950,000 as of the date of this Form 8K.
On July 22, 2003, CareerEngine made an initial payment of $30,000 towards the
$50,000 accepted offer. CareerEngine intends to make the remaining $20,000
payment on or before October 14, 2003.
Forward Looking Statements
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Certain statements in this Form 8-K constitute "forward-looking statements"
relating to the Registrant and its subsidiaries within the meaning of the
Private Securities Litigation Reform Act of 1995. All statements regarding
future events, our financial performance and operating results, our business
strategy and our financing plans are forward-looking statements. In some cases
you can identify forward-looking statements by terminology, such as "may,"
"will," "would," "should," "could," "expect," "intend," "plan," "anticipate,"
"believe," "estimate," "predict," "potential," or "continue," the negative of
such terms or other comparable terminology. These statements are only
predictions. Known and unknown risks, uncertainties and other factors could
cause actual results to differ materially from those contemplated by the
statements. In evaluating these statements, you should specifically consider
various factors that may cause our actual results to differ materially from any
forward-looking statements.
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 thereunto duly authorized.
CNE GROUP, INC.
Date: July 28, 2003 By: /S/George W. Benoit
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George W. Benoit,
Chairman of the Board of Directors
and Chief Executive Officer