
                       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): DecemberMarch 2022, 20012002


                         QueryObject Systems Corporation
                                                  --------------------------------------------------------------------------------


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


               Delaware                                            1-13587                                       94-3087939
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(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
                                                           --------------

                                       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
----------------------------
         (Former
            CrossZ nameSolutions orand formerthe address,Company ifwere changedparties sinceto lasta report.)certain



ITEMInternational 5.  OTHERReseller EVENTS.

            On  December  20Agreement dated November 12,  2001 1998,   QueryObject   Systems   Corporation   as amended (the
"CompanyReseller Agreement")  issued  a  press  release  announcing  that, itunder had  entered  intowhich anCrossZ Solutions was the exclusive
agreementdistributor 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' Sannual volume of sales of the Company's
products.p.A. Such price discounts were comparable to sell  substantiallythose alloffered ofby the Company
to its assetsother 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  text   assets sold by the
Company included accounts receivable of   $271,414 from CrossZ Solutions which
arose under the  press  release  is  attached  hereto  as  Exhibit  99 Reseller Agreement.1  

            The Company and CrossZ Solutions have no common officers, directors
incorporatedor hereincontrol bypersons. referenceCrossZ 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, PROAND FORMAEXHIBITS

            (a) FINANCIALPro INFORMATIONForma ANDFinancial EXHIBITSInformation: It is impracticable to provide
the required pro form financial information at the time this Report is filed.


                      (cb)   EXHIBITS. Exhibits:

                99      *2.1       Press releaseAsset ofPurchase theAgreement Company, dated December 2012, 2001 by and between the
Company and CrossZ Solutions S.p.A.

------------------------------
*Filed herewith

                                      -2-




                                    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 CORP.CORPORATION


Dated: DecemberMarch 2126, 2001          2002                    By: /s/ Daniel Pess
                                                                                   ----------------------------------
                                                                                   Name:   Daniel Pess
                                                                                   Title: Executive Vice President and Chief
                                                                                                 Chief Financial Officer
Filing Compare · QUERYOBJECT SYSTEMS CORP
