SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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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 10, 2004
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CNE Group, Inc.
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(Exact Name of Registrant as Specified in Charter)
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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)
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Item 5. Other Information
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In a private transaction on February 10, 2004, the Company sold to accredited
investors, some of whom are existing common stockholders of the Company,
1,750,000 shares of its Common Stock, par value $.00001 per share, for $0.40 per
share for an aggregate consideration of $700,000. This transaction was effected
pursuant to the exemption from the registration provisions of the Securities Act
of 1933 provided by Section 4(2) thereof.
The financial effect of the sale of the Common Stock will be to increase the
Company's Stockholders' Equity by the net proceeds of the transaction,
approximating $567,000. These proceeds will be utilized for working capital and
general corporate purposes.
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: February 10, 2004 By: /S/Anthony S. Conigliaro
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Anthony S. Conigliaro
Vice President and
Chief Financial Officer
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