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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549-1004

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 1618, 2002

Network Access Solutions Corporation
(Exact Name of Registrant as Specified in Charter)

Delaware
(State or Other Jurisdiction
of Incorporation)

000-25945
(Commission File Number)

54-1738938
(IRS Employer
Identification No.)

13650 Dulles Technology Drive Herndon, VA (Address of Principal Executive Offices) 20171 (Zip Code) Registrant's telephone number, including area code (703) 793-5000

Registrant's telephone number, including area code (703) 793-5000

Item 5. OTHER EVENTS.

On ~~October~~September 1628, ~~2002~~2001, ~~Network~~we ~~Access~~received ~~Solutions~~a ~~Corporation,~~notice ~~Network~~of ~~Access~~acceleration ~~Solutions~~from ~~LLC~~Lucent ~~and NASOP~~Technologies, Inc., ~~(collectively~~or Lucent, ~~"NAS")~~demanding ~~entered~~payment ~~into~~of anprincipal ~~Asset~~and interest ~~Purchase~~of ~~Agreement~~$2.4 million ~~with~~related ~~DSL~~to a note payable.~~net,~~ On October ~~Inc.~~4, ~~and~~2001, ~~Adelman~~we ~~Lavine~~filed ~~Gold~~a ~~and~~Demand ~~Levin,~~of AArbitration ~~Professional~~with ~~Corporation,~~the asAmerican ~~deposit~~Arbitration ~~escrow~~Association ~~agent,~~concerning ~~pursuant~~various toclaims ~~which~~against ~~DSL.net~~Lucent regarding ~~agreed~~the toAscend ~~acquire~~Communications, Inc./ ~~network~~Lucent ~~assets~~Technologies, Inc. Purchase and ~~associated~~ ~~subscriber~~Sale ~~lines~~Agreement, ofor ~~NAS~~the ~~for~~Lucent anAgreement. ~~aggregate~~The ~~purchase~~demand ~~price~~asserted breach of ~~$17,000,000,~~contract ~~consisting~~for offailure ~~$7 million~~to inplace equipment ~~cash~~purchases ~~(subject~~on tocapital ~~adjustment~~leases, as ~~specified~~required inby the ~~Asset~~Lucent ~~Purchase~~ Agreement). ~~and~~In addition, the ~~assumption~~ demand asserted breach of ~~certain~~contract ~~liabilities~~for failure to provide equipment that materially conforms to the specifications in anthe ~~aggregate~~Lucent ~~principal~~Agreement. ~~amount~~Finally, the demand asserted breach of nocontract ~~more~~for ~~than~~failure ~~$10 million.~~to ~~Network~~correct ~~Access~~accounts ~~Solutions~~receivable ~~Corporation~~records ~~filed~~on acredits ~~voluntary~~and ~~petition~~returns, ~~for~~and ~~Chapter~~requested 11accounting ~~reorganization~~for incertain ~~June 2002~~invoices. As apart ~~result,~~of the ~~Asset~~demand, ~~Purchase~~we ~~Agreement~~asked ~~is subject~~ to ~~the~~be ~~approval~~relieved of our obligations under the ~~U.S.~~Lucent ~~Bankruptcy~~Agreement, ~~Court~~including accounts payable of ~~Delaware~~$0.8 million Ifand ~~the~~notes ~~transaction~~payable isand ~~approved~~accrued byinterest ~~the~~of $2.4 million, ~~Bankruptcy~~and ~~Court~~other ~~and~~related damages to be proven in the ~~other closing~~arbitration. ~~conditions~~Lucent ~~are~~filed ~~satisfied,~~a ~~NAS~~counterclaim ~~expects~~against ~~that~~us ~~this~~seeking ~~transaction~~recovery ~~will~~of bethe ~~completed~~amounts ~~during~~due and owing under the ~~fourth~~Lucent ~~quarter~~Agreement ofand ~~2002~~a related promissory note.

ASubsequent ~~copy~~to the filing of aLucent's ~~press~~counterclaims, ~~release~~we offiled ~~DSL~~for bankruptcy protection.~~net,~~ ~~dated~~As ~~October 17,~~a ~~2002~~result, isLucent's ~~attached~~counterclaims aswere ~~Exhibit 99~~automatically stayed pursuant to the Bankruptcy Code.7 Lucent ~~hereto~~did not move to lift the stay prior to the arbitration hearing that was held in July and ~~incorporated~~August 2002, byand ~~reference~~Lucent's ~~herein~~counterclaims therefore were not part of the case.

Prior to the arbitration hearing, the parties resolved our claims regarding Lucent's failure to correct accounts receivable records on credits and returns and the accounting for certain invoices. Thus, the only claims before the arbitrator at the hearing were our claims for breach of the Lucent Agreement for (i) Lucent's failure to place certain equipment purchases on capital ~~Item~~leases 7as required by the Lucent Agreement and (ii) Lucent's failure to provide equipment that materially conforms to the specifications in the Lucent Agreement. ~~EXHIBITS.~~

~~99.7~~ On October 18, ~~DSL.net~~2002, ~~Press~~the ~~Release~~arbitrator ~~dated~~found ~~October~~in 17our favor on both claims, ~~2002~~awarding us approximately $13 million in damages for the claim regarding the equipment's failure to materially conform to specifications and declaring that we were relieved of all of our financial obligations to Lucent.

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.

	Network Access Solutions Corporation
	By:	/s/ WILLIAM R. SMEDBERG
		Name:	William R. Smedberg
		Title:	Executive Vice President, Secretary, and Treasurer
Dated: October 30, 2002

Network Access Solutions Corporation

By:	/s/ WILLIAM R. SMEDBERG
	Name:	William R. Smedberg
	Title:	Executive Vice President, Secretary, and Treasurer

Dated: November 7, ~~EXHIBIT~~2002 ~~INDEX~~

Exhibit No.		Description
99.7		DSL.net Press Release dated October 17, 2002

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Item 5. OTHER EVENTS.

SIGNATURE

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