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
Date of report (Date of earliest event reported) June 30, 2005
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Dynabazaar, Inc.
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(Exact Name of Registrant as Specified in Charter)
Commission File Number: 000-29423
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Delaware 04-3551937
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(State or other Jurisdiction (I.R.S. Employer
of Identification No.)
Incorporation)
888 Seventh Avenue, New York, New York 10019
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(Address of Principal Executive Offices)
(Zip Code)
(212) 974-5730
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(Registrant's telephone number, including area code)
Not Applicable
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(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:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act (17 CFR 240.14d-2(b))
[ ] 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.
On June 30, 2005, Dynabazaar, Inc. (the "Company") entered into a stock
purchase agreement (the "Agreement") with Lloyd I. Miller, III, on behalf of
himself and on behalf of certain affiliated entities, whereby the Company
purchased from Mr. Miller and such affiliated entities an aggregate of 3,657,988
shares of common stock, par value $0.001 per share, of the Company at an
aggregate purchase price of $1,152,266.22. Pursuant to the Agreement, Mr. Miller
is also entitled to receive 13.6% of any net proceeds distributed to the Company
pursuant to the escrow agreement dated as of September 4, 2003 by and among the
Company, eBay, Inc. and Zions First National Bank.
Item 5.02. Departure of Directors or Principal Officers; Election of
Directors; Appointment of Principal Officers.
On June 30, 2005, Mr. Miller resigned from the Board of Directors of the
Company. Mr. Miller had no disagreements with the Company on any matters related
to the Company's operations, policies or practices.
The Board of Directors of the Company thanks Mr. Miller for his dedicated
service and valued contributions to the Company.
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.
Date: July 6, 2005
DYNABAZAAR, INC.
By: /s/ William J. Fox
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William J. Fox
President and Chief Executive Officer