UNITED STATES
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

~~June 16, 2005~~ Date of Report (Date of earliest event reported) April 27, 2007

Teknik Digital Arts, Inc.

(Exact name of registrant as specified in its charter)

Nevada	000-51253	68 053 9517
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)
(State or other jurisdiction	(Commission File	(IRS Employer
of incorporation)	Number)	Identification No.)



	P.O. Box 2800 — 314, Carefree, Arizona		85377
	(Address of principal executive offices)		(Zip Code)

Registrant’s telephone number, including area code (480) 443-1488

7377 E. Doubletree Ranch Road, Suite #240, Scottsdale, Arizona 85258

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

¨ o Written communications pursuant to Rule 425 under Securities Act (17 CFR 230.425)

¨ o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 1.01 Entry into a Material Definitive Agreement

~~See~~ On ~~disclosure~~April 27, in2007, ~~Item~~Teknik 5Digital Arts, Inc.02 (the “Company”) entered into an Investment ~~below~~Agreement with Dutchess Private Equities Fund, ~~which~~Ltd. (“Dutchess”) to provide the Company with an equity line of credit. Pursuant to the Investment Agreement, Dutchess is ~~incorporated~~contractually ~~therein~~obligated to purchase up to $10,000,000 of the Company’s common stock over the course of thirty-six (36) months, however, such purchases of the Company’s shares are contingent upon a registration statement covering such shares being declared effective. The amount that the Company will be entitled to request from each of the purchase “puts,” shall be equal to either 1) $250,000 or 2) 200% of the average daily volume (U.S. market only), multiplied by ~~reference~~the average of the three (3) daily closing prices immediately preceding the put date. The average daily trading volume shall be computed using the ten (10) trading days prior to the put date. The purchase price for the common stock identified in the put notice shall be set at ninety-four percent (94%) of the lowest closing bid price of the common stock during the pricing period. The pricing period is equal to the period beginning on the put notice date and ending on and including the date that is five (5) trading days after such put notice date. There are put restrictions applied on days between the put date and the closing date with respect to each put. During this time, the Company will not be entitled to deliver another put notice.

~~Item~~ The 5Company is required to reserve the right, but not the obligation, to withdraw that portion of the put that is below a minimum acceptable price, as defined in the Investment Agreement, by submitting to the investor, in writing, a notice to cancel that portion of the put.02 ~~Departure~~Any shares above the minimum acceptable price due to the investor shall be carried out by the Company under the terms of ~~Directors~~the orInvestment ~~Principal~~Agreement. ~~Officers;~~The ~~Election~~minimum acceptable price is defined as seventy-five percent (75%) of ~~Directors;~~the ~~Appointment~~lowest closing bid price of ~~Principal~~the ~~Officers~~common stock for the three (3) trading days prior to the applicable put date. The implications of the minimum acceptable price threshold is that the Company may not withdraw its put if the lowest closing bid price of the common stock is above seventy-five percent (75%) of such price, even if the Company does not wish to sell at such price.

OnIn ~~June 16, 2005,~~ the ~~Board~~event ~~of Directors of~~ the Company ~~elected~~fails ~~Keith Dimond, age 33,~~ to ~~the position~~timely ofdeliver ~~Chief~~shares ~~Financial~~issuable ~~Officer of the Company, effective immediately,~~ pursuant to ~~the~~a ~~terms~~put ofnotice, ~~that Engagement Letter~~i.e., ~~executed~~not onlater ~~June 16,~~than ~~2005,~~five ~~attached hereto as Exhibit 10.1~~ (~~the “Engagement Letter”~~5)~~. Mr.~~ ~~Dimond~~trading ~~has~~days ~~served~~following as the ~~Company’s~~put ~~accountant~~notice ~~since September 27~~date, ~~2004. Pursuant to~~ the ~~terms~~Company ~~of the Engagement Letter, Mr. Dimond~~ will be ~~compensated at the rate of $75.00 per~~ ~~hour,~~obligated ~~and~~to ~~will~~make belate ~~fully~~payments ~~covered~~to ~~under~~Dutchess ~~the~~based ~~Company’s Directors’~~on ~~and~~a ~~Officers’~~schedule ~~insurance~~set ~~policy.~~forth ~~The Company~~in ~~also~~section ~~agrees to indemnify Mr~~2. ~~Dimond~~6 ~~for~~of ~~fees incurred in~~ the ~~event that litigation arises~~ ~~involving~~Investment ~~the services provided by Mr~~Agreement. ~~Dimond~~ ~~during~~For ~~his~~example, ~~employment~~if ~~with~~ the Company, ~~unless Mr. Dimond~~ is ~~found~~five to(5) days ~~have~~late ~~been grossly negligent~~ in ~~the~~delivering ~~provision~~$1,000,000 of common ~~such~~stock, ~~services.~~the ~~The~~ Company ~~further~~ ~~agrees~~would ~~that~~have ~~any~~to ~~damages~~pay ~~sought~~Dutchess ~~from~~a ~~Mr. Dimond~~$50,000 inlate ~~connection with such litigation will be limited to amounts paid in compensation~~fee.

~~Over~~In the ~~past~~event ~~five~~the ~~years~~Company’s ~~Mr. Dimond~~common ~~has~~stock ~~owned~~becomes ~~his~~listed ~~own~~on ~~tax~~a ~~and~~national ~~accounting~~securities ~~consulting~~exchange, ~~business~~such ~~and~~as ~~worked~~the ~~with~~New ~~numerous~~York ~~public~~Stock ~~companies~~Exchange, ~~including~~or ~~Allied~~listed ~~Waste~~on ~~Industries,~~the ~~Inc.~~Nasdaq Stock Market, ~~for~~the ~~which~~number ~~Mr.~~of shares of ~~Dimond~~common ~~performed~~stock ~~tax~~issuable ~~consulting~~by ~~services~~the Company, and ~~Coronado~~purchasable ~~Industries,~~by ~~Inc.~~Dutchess, ~~for~~will ~~which~~be ~~Mr. Dimond~~limited to that number ~~performed~~of ~~public~~shares ~~company~~that ~~accounting~~may ~~compliance~~be ~~services~~issued without shareholder approval under applicable exchange rules.

InIf, ~~connection~~by ~~with~~the ~~accounting~~third ~~services~~business ~~previously~~day ~~provided~~after bythe ~~Mr. Dimond~~closing todate of a put, the Company, onfails to deliver ~~March 31,~~any ~~2005,~~portion of the ~~Company~~shares ~~granted~~subject ~~Mr. Dimond~~to ~~options~~the toput ~~purchase~~and ~~150~~Dutchess purchases,~~000~~ ~~shares~~in ofan ~~the~~open ~~Company’s~~market transaction or otherwise, shares of common stock atnecessary anto ~~exercise~~make ~~price~~delivery of ~~$1.00~~shares ~~per~~which ~~share.~~would ~~The~~have ~~options~~been delivered ~~vest~~if ~~immediately~~the ~~upon~~full amount of the ~~option~~shares to be delivered to Dutchess by the Company, then the ~~grant~~Company will be obligated to pay Dutchess, in addition to the amounts described above, and ~~have~~not ain lieu ~~term~~thereof, the open market adjustment amount, which is defined by the Investment Agreement as the amount equal to the excess, if any, of ~~three~~(x) the ~~years.~~investor’s total purchase price (including brokerage commissions, if any) for the open market share purchase minus (y) the net

~~Item~~proceeds 9(after brokerage commissions, if any) received by the investor from the sale of the put shares due.01 ~~Financial~~The ~~Statements~~Company must pay the open market adjustment amount to the investor in immediately available funds within five (5) business days of written demand by the investor. By way of illustration and ~~Exhibits~~not in limitation of the foregoing, if the investor purchases shares of common stock having a total purchase price (including brokerage commissions) of $11,000 to cover an open market purchase with respect to shares of common stock it sold for net proceeds of $10,000, the open market purchase adjustment amount which the Company will be required to pay to the investor will be $1,000.

~~(c) Exhibits.~~Under the terms of the Investment Agreement, Dutchess will not be required to purchase that number of shares, which when added to the sum of the number of shares of the Company’s common stock beneficially owned by Dutchess, would exceed 4.99% of the number of shares of the Company’s common stock outstanding on any closing dates.

~~The~~In ~~following~~connection ~~exhibit~~with the Investment Agreement, on April 27, 2007, the Company entered into a Registration Rights Agreement with Dutchess. Pursuant to the Registration Rights Agreement, the Company is ~~filed~~obligated asto ~~part~~file a registration statement with the Securities and Exchange Commission covering the shares of ~~this~~common ~~report:~~stock underlying the Investment Agreement within twenty-one (21) days after the closing date. In addition, the Company is obligated to use all commercially reasonable efforts to have the registration statement declared effective by the SEC within ninety (90) days after the closing date.

Exhibit No.				Description
	10.1			Engagement Letter between Teknik Digital Arts, Inc. and Keith Dimond.

The foregoing description is only a summary of, and is qualified in its entirety by reference to, the Investment Agreement and Registration Rights Agreement.

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 hereunto duly authorized.

	TEKNIK DIGITAL ARTS, INC.
Date: June 22, 2005	By:	/s/ John R. Ward
Date: November 5, 2007	By:	/s/ John R. Ward
		Name:	John R. Ward
		Title:	Chief Executive Officer

Filing Compare · HALITRON, INC.