SATX INC
S-8, 2000-07-25
NON-OPERATING ESTABLISHMENTS
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                       SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C. 20549

                                    FORM S-8

                             REGISTRATION STATEMENT

                        UNDER THE SECURITIES ACT OF 1933

                                SATX CORPORATION
             ------------------------------------------------------
             (Exact name of registrant as specified in its charter)

      NEVADA (#16545-95)                                     87-0293479
(State or other jurisdiction of                          (I.R.S. Employer
  Incorporation or organization)                        Identification No.)

4710 EISENHOWER BLVD SUITE E-1
TAMPA, FLORIDA                                                33634
(Address of Principal Executive Offices)                    (Zip Code)

                            STOCK UNDERLYING VARIOUS
                          REVISED CONSULTING AGREEMENTS
                             BETWEEN REGISTRANT AND
                                 AND CONSULTANT,
                                OF THE REGISTRANT

                            Laughlin Associates, Inc.
                              2533 N. Carson Street
                            Carson City, Nevada 89706

           (Name and address, including zip code of agent for service)

                                  775-883-8484
        -----------------------------------------------------------------
          (Telephone number, including area code, of agent for service)

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------
                                                Proposed Maximum
  Title of Securities        Amount to be        Offering Price           Proposed            Amount of
    to be Registered          Registered           Per Share*         Aggregate Price*     Registration Fee
------------------------------------------------------------------------------------------------------------
 <S>                          <C>                     <C>                <C>                   <C>

Common Stock, Par            2,500,000               $.69               1,725,000            455.40
Value $.001 Per Share
------------------------------------------------------------------------------------------------------------

Warrants  to  purchase
4,000,000 Shares
Common Stock, Par
Value $.001 Per Share        4,000,000               $1.38              5,520,000          1,457.28
------------------------------------------------------------------------------------------------------------
</TABLE>

Estimated solely for the purpose of calculating the amount of the registration
fee pursuant to Rule 457(c) on the basis of the average of the low bid and ask
prices of the Common Stock of the Registrant as traded in the over-the-counter
market and reported in the Electronic Bulletin Board of the National Association
of Securities Dealers on June 14, 2000.
<PAGE>

                                     PART I

DESCRIPTION OF EXECUTIVE, EMPLOYMENT AND CONSULTING AGREEMENTS

         The following table sets forth the number of shares of Common stock
issued or authorized to be issued pursuant to certain Consulting and Employment
Agreements attached hereto or incorporated herein by reference.
<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------
                                              Compensation                        Number of Shares or
                                               Agreement                          Warrants covered by
Selling Shareholder                          (Name of Plan)                       this Registration
                                                                                  Statement
---------------------------------------------------------------------------------------------------------
<S>                     <C>                                                       <C>
Terry Byrne             Revised Consulting Agreement effective June 12, 2000      1,250,000 shares
---------------------------------------------------------------------------------------------------------
Terry Byrne             Revised Consulting Agreement effective June 12, 2000      2,000,000 warrants
---------------------------------------------------------------------------------------------------------
Avi Mirman              Revised Consulting Agreement effective June 12, 2000      1,250,000 shares
---------------------------------------------------------------------------------------------------------
Avi Mirman              Revised Consulting Agreement effective June 12, 2000      2,000,000 warrants
---------------------------------------------------------------------------------------------------------
</TABLE>

                                     PART II

INFORMATION REQUIRED IN THE REGISTRATION STATEMENT

Item 3.  Incorporation of Documents by Reference

         The following documents are incorporated by reference in this
registration statement:

          (a) Registrant's Annual Report on Form 10-SB for the fiscal year ended
         December 31, 1999, filed pursuant to Section 12(g) of the Securities
         Exchange Act of 1934, as amended (the "Exchange Act").

          (b) Registrant's quarterly report on Form 10-QSB for the fiscal
         quarter ended March 31, 2000.

         All documents filed by the Registrant pursuant to Section 13(a), 13(c),
14, and 15(d) of the Securities Act and Sections 13(a), 13(c), and 14 of the
Exchange Act after the date of this registration statement and prior to the
filing of a post-effective amendment to this registration statement which
indicates that all securities offered hereunder have been sold, or which
registers all securities then remaining unsold under this registration
statement, shall be deemed to be incorporated by reference in this registration
statement and to be a part hereof from the date of filing of such documents.

                                       2
<PAGE>


Item 4.  Description of Securities.

         The authorized capital stock of Registrant consists of one hundred
million shares (100,000,000), par value $.001 per share, all of which are
designated Common Stock par value $.001 per share. As of March 31, 2000 there
were fifty two million, seven hundred fifty-eight thousand, four hundred twenty
eight, (52,758,428) shares of Common Stock issued and outstanding.

         The holders of shares of Common Stock of the Registrant are entitled to
dividends when and as declared by the Board of Directors from funds legally
available therefore and, upon liquidation, are entitled to share pro rata in any
distribution to shareholders. Holders of the Common Stock have one
non-cumulative vote for each share hold. There are no preemptive, conversion or
redemption privileges, nor sinking fund provisions, with respect to the Common
Stock.

         Stockholders are entitled to one vote of each share of Common Stock
held of record on matters submitted to a vote of stockholders. The Common Stock
does not have cumulative voting rights. As a result, the holders of more than
50% of the shares of Common Stock voting for the election of directors can elect
all of the directors if they choose to do so, and, in such event, the holders of
the remaining shares of Common Stock will not be able to elect any person or
persons to the board of directors of Registrant.

         The Registrant has twenty million shares of Preferred Stock authorized
and $.001 par value of which none are outstanding. The Registrant has authorized
the issuance of warrants to purchase 4,000,000 Shares of Common Stock
exercisable at various prices from $.75 per share to $2.25 per share,
exercisable until December 31, 2000.

Item 5.  Interest of Named Experts and Counsel.
         Not applicable

Item 6.  Indemnification of Directors and Officers.

         The Registrant's Articles of Incorporation provide for indemnification
of its officers and directors for breach of fiduciary duty involving any act or
omission of any such director or officer; provided however, that such provision
shall not eliminate or limit the liability of a director or officer (i) for acts
or omissions which involve intentional misconduct, fraud or a knowing violation
of a law, or (ii) the payment of dividends in violation of Section 78.300 of the
Nevada Revised Statutes. Section 78.7502 of the Nevada Revised Statutes which
provides that when a corporation elects to indemnify its officers and directors,
the indemnification shall encompass expenses, including attorney fees,
judgments, fines and amounts paid in settlement actually and reasonably incurred
by him in which he reasonably believed to be in or not opposed to the best
interests of the corporation, and, with respect to any criminal action or
proceeding, had no reasonable cause to believe his conduct was unlawful.

         Insofar as indemnification for liabilities arising under the Securities
Act of 1933 may be permitted to directors, officers, and controlling persons of
the Company pursuant to the foregoing provisions, the Registrant has been
informed that in the opinion of the Securities and Exchange Commission such
indemnification is against public policy as expressed in the Act and is,
therefore, unenforceable. In the event that a claim for indemnification against

                                       3
<PAGE>

such liabilities (other than the payment by registrant of expenses incurred in
the successful defense of any action, suit or proceeding) is asserted by such
director, officer or controlling person in connection with the securities being
registered, registrant will, unless in the opinion of its counsel the matter has
been settled by controlling precedent, submit to a court of appropriate
jurisdiction the question whether such indemnification by it is against public
policy as expressed in the Act and will be governed by the final adjudication of
such issue.

         Except to the extent hereinabove set forth, there is no charter
provision, by-law, contract, arrangement or statute pursuant to which any
director or officer of registrant is indemnified in any manner against any
liability which he may incur in his capacity as such.

Item 7.  Exemption From Registration Claimed.

Not Applicable.

Item 8.  Exhibits.

The exhibits filed as a part of this Report or incorporated herein by reference
are as follows:

EXHIBIT
NO.                                 ITEM
-------                             ----

4.1      Revised Consulting Agreement between Terry Byrne and the Registrant
         effective June 1, 2000.

4.2      Revised Consulting Agreement between Avi Mirman and the Registrant
         effective June 1, 2000.

4.5      Written Consent of Directors of the Registrant dated June 14, 2000.

4.6      Registrant's Warrant to purchase 2,000,000 shares of Common Stock
         issued to Terry Byrne.

4.7      Registrant's Warrant to purchase 2,000,000 shares of Common Stock
         issued to Avi Mirman.

5.1      Opinion of Frohling, Hudak & Pellegrino, LLC, regarding the legality of
         the securities being registered under this Registration Statement.

24.1     Consent of Robert White and Associates, Certified Public Accountants.

24.2     Consent of Frohling, Hudak & Pellegrino, LLC, (set forth in the opinion
         of counsel included as Exhibit 5.1).


                                       4
<PAGE>

Item 9. Undertakings.

          (a) The undersigned Registrant hereby undertakes:

                  (1)To file, during any period in which offers or sales are
                  being made, a post-effective amendment to this registration
                  statement:

                           (i)To include any prospectus required by section
                           10(a) (3) of the Securities Act of 1933;

                           (ii)To reflect in the prospectus any facts or events
                           arising after the effective date of the registration
                           statement (or the most recent post-effective
                           amendment thereof) which, individually or in the
                           aggregate, represent a fundamental change in the
                           information set forth in the registration statement;

                           (iii)To include any material information with respect
                           to the plan of distribution not previously disclosed
                           in the registration statement or any material change
                           to such information in the registration statement.

                  Provided, however, that paragraphs (a)(1)(i) and (a)(1)(ii) do
                  not apply if the information required to be included in a
                  post-effective amendment by those paragraphs is contained in
                  periodic reports filed by the Registrant pursuant to section
                  13 or section 15(d) of the Securities Exchange Act of 1934
                  that are incorporated by reference in this registration
                  statement.

                  (2) That, for the purpose of determining any liability under
                  the Securities Act of 1933, each such post-effective amendment
                  shall be deemed to be a new registration statement relating to
                  the securities offered therein, and the offering of such
                  securities at that time shall be deemed to be the initial bona
                  fide offering thereof.

                  (3) To remove from registration by means of a post-effective
                  amendment any of the securities being registered which remain
                  unsold at the termination of the offering.

                            (b) The undersigned Registrant hereby undertakes
                           that, for purposes of determining any liability under
                           the Securities Act of 1933, each filing of the
                           Registrant's annual report pursuant to section 13(a)
                           or section 15(d) of the Securities Exchange Act of
                           1934 (and, where applicable, each filing of an
                           employee benefit plans annual report pursuant to
                           Section 15(d) of the Securities Exchange Act of 1934)
                           that is incorporated by reference in the registration
                           statement shall be deemed to be a new registration
                           statement relating to the securities offered therein,
                           and the offering of such securities at that time
                           shall be deemed to be the initial bona fide offering
                           thereof.

                            (c) Insofar as indemnification for liabilities
                           arising under the Securities Act of 1933 may be
                           permitted to directors, officers and controlling
                           persons of the Registrant pursuant to the foregoing
                           provisions, or otherwise, the Registrant has been
                           advised that in the opinion of the Securities and
                           Exchange Commission such indemnification is against
                           public policy as expressed in the Act and is,
                           therefore, unenforceable. In the event that a claim
                           for indemnification against such liabilities (other

                                       5
<PAGE>

                           than the payment by the Registrant of expenses
                           incurred or paid by a director, officer or
                           controlling person of the Registrant in the
                           successful defense of any action, suit or proceeding)
                           is asserted by such director, officer or controlling
                           person in connection with the securities being
                           registered, the Registrant will, unless in the
                           opinion of its counsel the matter has been settled by
                           controlling precedent, submit to a court of
                           appropriate jurisdiction the question whether such
                           indemnification by it is against public policy as
                           expressed in the act and will be governed by the
                           final adjudication of such issue.

                                       6
<PAGE>



                                   SIGNATURES

Pursuant to the requirements of the Securities Act of 1933, the Registrant
certifies that it has reasonable grounds to believe that it meets all of the
requirements for filing on Form S-8 and has duly caused this registration
statement to be signed on its behalf by the undersigned, thereunto duly
authorized, in the City of Tampa, Florida, on the Day of July 24, 2000.

                                      By  /s/ Merritt Jesson
                                        ------------------------------
                                        Merritt Jesson., President and
                                        Chief Executive Officer

          Pursuant to the requirements of the Securities Act of 1933, the
following persons in the capacities and on the date indicated have signed this
Registration Statement.

          Signature                         Title                      Date
       ---------------                  -------------               ----------

/s/ Merritt Jesson              Chief Executive Officer            July 24, 2000
-------------------------------
Merritt Jesson

/s/ Robert Ellis                 Treasurer and Chief               July 24, 2000
-------------------------------- Financial and Accounting Officer
Robert Ellis

Majority of the Board of Directors

/s/ Merritt Jesson               Director                          July 24, 2000
-------------------------------
Merritt Jesson

/s/ Robert Ellis                 Director                          July 24, 2000
-------------------------------
Robert Ellis

/s/ Khoren Shaginian             Director                          July 24, 2000
-------------------------------
Khoren Shaginian

                                Signature on File

                                       7
<PAGE>

                           INDEX TO EXHIBITS BEING FILED HEREWITH


Exhibit
No.                                   Item
-------                               ----

4.1      Revised Consulting Agreement between Terry Byrne and the Registrant
         effective June 1, 2000.

4.2      Revised Consulting Agreement between Avi Mirman and the Registrant
         effective June 1, 2000.

4.5      Written Consent of Directors of the Registrant dated June 14, 2000.

4.6      Registrant's Warrant to purchase 2,000,000 shares of Common Stock
         issued to Terry Byrne.

4.7      Registrant's Warrant to purchase 2,000,000 shares of Common Stock
         issued to Avi Mirman.

5.1      Opinion of Frohling Hudak & Pellegrino, LLC., regarding the legality of
         the securities being registered under this Registration Statement.

24.1     Consent of Robert L. White, Certified Public Accountant, Independent,
         Auditors for the Registrant.

24.2     Consent of Frohling, Hudak, & Pellegrino Counsel for the Registrant
         (Set forth in the opinion of counsel included as Exhibit 5.1).

                                       8


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