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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM 8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CURRENT REPORT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Pursuant to Section&nbsp;13 or 15(d)<BR>
of the Securities Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Date of Report (Date of earliest event
reported): July 5, 2012</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>MEDIANET GROUP TECHNOLOGIES, INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Exact name of registrant as specified
in its charter)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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    <TD STYLE="width: 30%">&nbsp;</TD>
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    <TD STYLE="width: 30%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 30%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; font-weight: bold; text-align: center">Nevada</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-weight: bold; text-align: center">0-49801</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-weight: bold; text-align: center">13-4067623</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-top: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: black 1pt solid; text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center">(State or other jurisdiction of <BR> incorporation)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">(Commission File Number)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">(IRS Employer<BR> Identification No.)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>5200 Town Center Circle, Suite 601</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>Boca Raton,
FL 33486<BR>
</B>(Address and zip code of principal executive offices)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Registrant&rsquo;s telephone number, including
area code: <B> (561) 417-1500</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">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):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
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    <TD STYLE="width: 3%">&nbsp;</TD>
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    <TD>&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="text-align: center"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-indent: 10.3pt">Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425)</TD></TR>
<TR>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-indent: 10.3pt">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="text-align: center"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-indent: 10.3pt">Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240-14a-12)</TD></TR>
<TR>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-indent: 10.3pt">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="text-align: center"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 10.3pt">Pre-commencement communications pursuant to Rule&nbsp;14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</TD></TR>
<TR>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-indent: 10.3pt">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="text-align: center"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 10.3pt">Pre-commencement communications pursuant to Rule&nbsp;13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -1in"><B>Item 1.01.
Entry into a Material Definitive Agreement.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As previously reported, MediaNet Group
Technologies, Inc. (the &ldquo;Company&rdquo;) established a trust (the &ldquo;Trust&rdquo;) pursuant to a trust agreement dated
February 25, 2011 (the &ldquo;Trust Agreement&rdquo;) between the Company and Batista Guerra Y Asociados, an independent offshore
trustee (the &ldquo;Trustee&rdquo;), and transferred 63,393,933 shares (the &ldquo;Loyalty Shares&rdquo;) of common stock, par
value $.001 per share (&ldquo;Common Stock&rdquo;) to the Trust. Under the Trust Agreement, the Loyalty Shares were held by the
Trust for the benefit of certain persons holding interests in DubLi.com, LLC (the &ldquo;DubLi.com Beneficiaries&rdquo;) other
than Michael Hansen, the Company&rsquo;s President and Chief Executive Officer, and certain employees of Lenox Resources, LLC
(together with the DubLi.com Beneficiaries, the &ldquo;Beneficiaries&rdquo;). The Company initially anticipated that the Loyalty
Shares would be transferred to the Beneficiaries on or after March 28, 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On July 5, 2012, the Company and the
Trustee entered into an amendment to the Trust Agreement (the &ldquo;Amendment&rdquo;), effective as of March 29, 2012, which
extended the date on or after which the Loyalty Shares would be transferred to the Beneficiaries from March 28, 2012 to June
30, 2012 (the &ldquo;Final Transfer Date&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Trustee is required to transfer the
Loyalty Shares to the Beneficiaries without requiring any payment or other consideration from the Beneficiaries (other than any
transfer taxes or tariffs that may be imposed in connection with the transfer). In order to receive the Loyalty Shares, each Beneficiary
will be required to complete, execute and return to the Company the Affidavit. No Beneficiary will have any right, title or interest
of any kind in the Loyalty Shares until such time, if ever, that the Beneficiary returns the Affidavit to the Company and the Trustee
transfers Loyalty Shares to the subject Beneficiary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Trust will terminate no later than
three months following the Final Transfer Date; provided that, if necessary to accomplish the purpose of the Trust, the Trustee
may extend the term of the Trust for up to an additional six months.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of the date of this report, the Company
has received completed and executed Affidavits from Beneficiaries entitled to receive 56,752,971 of the Loyalty Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The foregoing description does not purport
to be a complete description of the terms of the Trust, the trust Agreement or the Amendment and is qualified in its entirety by
reference to the documents attached hereto as Exhibits 10.1 and 10.2, which are incorporated herein by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Item 8.01 &#9;Other Events.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As previously reported, Zen Holding Group
Limited (&ldquo;Zen&rdquo;) informed the Company that it established a trust (the &ldquo;Zen Trust&rdquo;) pursuant to a trust
agreement dated February 25, 2011 (the &ldquo;Zen Trust Agreement&rdquo;) between Zen and the Trustee, and transferred all 214,178,946
shares (&ldquo;Zen Trust Shares&rdquo;) of Common Stock held by Zen to the Trust. The Zen Trust Shares are to be held by the Zen
Trust for the benefit of Zen&rsquo;s equity holders (the &ldquo;Zen Beneficiaries&rdquo;). Zen informed the Company that it initially
anticipated that the Zen Shares would be transferred to the Zen Beneficiaries on or after March 28, 2012. While the Zen Trust holds
the Zen Trust Shares, Michael Hansen, the Company&rsquo;s President and Chief Executive Officer, has the right to vote and make
investment decisions with respect to the Zen Trust Shares.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On July 5, 2012, Zen has informed the
Company that Zen and the Trustee entered into an amendment to the Zen Trust Agreement (the &ldquo;Zen Amendment&rdquo;),
effective as of March 29, 2012, which extended the date on or after which the Zen Trust Shares would be transferred to the
Zen Beneficiaries from March 28, 2012 to June 30, 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Trustee is required to transfer the
Zen Trust Shares to the Zen Beneficiaries without requiring any payment or other consideration from the Zen Beneficiaries (other
than any transfer taxes or tariffs that may be imposed in connection with the transfer). In order to receive the Zen Trust Shares,
each Zen Beneficiary will be required to complete, execute and return to the Company the Affidavit. No Zen Beneficiary will have
any right, title or interest of any kind in the Zen Trust Shares until such time, if ever, that the Zen Beneficiary returns the
Affidavit to the Company and the Trustee transfers Zen Trust Shares to the subject Zen Beneficiary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Zen Trust will terminate no later than
three months following the Final Transfer Date; provided that, if necessary to accomplish the purpose of the Zen Trust, the Trustee
may extend the term of the Zen Trust for up to an additional six months.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of the date of this report, the
Company has received completed and executed Affidavits from Zen Beneficiaries entitled to receive 208,870,375 of the Zen
Trust Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 9.01&nbsp;&nbsp;&#9;Financial Statements and Exhibits.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exhibits.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 10%; border-bottom: Black 1.5pt solid">Number</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 87%; border-bottom: Black 1.5pt solid">Description</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.1</TD>
    <TD>&nbsp;</TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Trust Agreement dated February 25, 2011 between MediaNet Group
        Technologies, Inc. and Batista Guerra Y Asociados (a draft of the Trust Agreement was filed as Exhibit 10.2 to Company&rsquo;s
        Current Report on Form 8-K filed with the U.S. Securities and Exchange Commission on March 2, 2011).</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.2</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">Amendment to Trust Agreement dated as of March 29, 2012 between MediaNet Group Technologies, Inc. Batista Guerra Y Asociados.</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 54%">&nbsp;</TD>
    <TD STYLE="width: 46%">MediaNet Group Technologies, Inc.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>(Registrant)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Date:&nbsp; July 11, 2012</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>By:&nbsp; &nbsp;<I><U>/s/ Michael B. Hansen</U></I></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Michael B. Hansen</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; President and Chief Executive Officer</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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{"company-data": {"conformed-name": "MEDIANET GROUP TECHNOLOGIES INC", "cik": "0001097792", "assigned-sic": "7389", "irs-number": "134067623", "state-of-incorporation": "NV", "fiscal-year-end": "0930"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-49801", "film-number": "12957928"}, "business-address": {"street1": "5200 TOWN CENTER CIRCLE", "street2": "SUITE 601", "city": "BOCA RATON", "state": "FL", "zip": "33486", "phone": "561-362-7704"}, "mail-address": {"street1": "5200 TOWN CENTER CIRCLE", "street2": "SUITE 601", "city": "BOCA RATON", "state": "FL", "zip": "33486"}, "former-company": {"former-conformed-name": "CLAMSHELL ENTERPRISES INC", "date-changed": "19991026"}}
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): July 5, 2012
MEDIANET GROUP TECHNOLOGIES, INC.
(Exact name of registrant as specified
in its charter)
Nevada
0-49801
13-4067623
(State or other jurisdiction of
incorporation)
(Commission File Number)
(IRS Employer
Identification No.)
5200 Town Center Circle, Suite 601
Boca Raton,
FL 33486
(Address and zip code of principal executive offices)
Registrant's telephone number, including
area code:
(561) 417-1500
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):
¨
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.
As previously reported, MediaNet Group
Technologies, Inc. (the "Company") established a trust (the "Trust") pursuant to a trust agreement dated
February 25, 2011 (the "Trust Agreement") between the Company and Batista Guerra Y Asociados, an independent offshore
trustee (the "Trustee"), and transferred 63,393,933 shares (the "Loyalty Shares") of common stock, par
value $.001 per share ("Common Stock") to the Trust. Under the Trust Agreement, the Loyalty Shares were held by the
Trust for the benefit of certain persons holding interests in DubLi.com, LLC (the "DubLi.com Beneficiaries") other
than Michael Hansen, the Company's President and Chief Executive Officer, and certain employees of Lenox Resources, LLC
(together with the DubLi.com Beneficiaries, the "Beneficiaries"). The Company initially anticipated that the Loyalty
Shares would be transferred to the Beneficiaries on or after March 28, 2012.
On July 5, 2012, the Company and the
Trustee entered into an amendment to the Trust Agreement (the "Amendment"), effective as of March 29, 2012, which
extended the date on or after which the Loyalty Shares would be transferred to the Beneficiaries from March 28, 2012 to June
30, 2012 (the "Final Transfer Date").
The Trustee is required to transfer the
Loyalty Shares to the Beneficiaries without requiring any payment or other consideration from the Beneficiaries (other than any
transfer taxes or tariffs that may be imposed in connection with the transfer). In order to receive the Loyalty Shares, each Beneficiary
will be required to complete, execute and return to the Company the Affidavit. No Beneficiary will have any right, title or interest
of any kind in the Loyalty Shares until such time, if ever, that the Beneficiary returns the Affidavit to the Company and the Trustee
transfers Loyalty Shares to the subject Beneficiary.
The Trust will terminate no later than
three months following the Final Transfer Date; provided that, if necessary to accomplish the purpose of the Trust, the Trustee
may extend the term of the Trust for up to an additional six months.
As of the date of this report, the Company
has received completed and executed Affidavits from Beneficiaries entitled to receive 56,752,971 of the Loyalty Shares.
The foregoing description does not purport
to be a complete description of the terms of the Trust, the trust Agreement or the Amendment and is qualified in its entirety by
reference to the documents attached hereto as Exhibits 10.1 and 10.2, which are incorporated herein by reference.
Item 8.01 	Other Events.
As previously reported, Zen Holding Group
Limited ("Zen") informed the Company that it established a trust (the "Zen Trust") pursuant to a trust
agreement dated February 25, 2011 (the "Zen Trust Agreement") between Zen and the Trustee, and transferred all 214,178,946
shares ("Zen Trust Shares") of Common Stock held by Zen to the Trust. The Zen Trust Shares are to be held by the Zen
Trust for the benefit of Zen's equity holders (the "Zen Beneficiaries"). Zen informed the Company that it initially
anticipated that the Zen Shares would be transferred to the Zen Beneficiaries on or after March 28, 2012. While the Zen Trust holds
the Zen Trust Shares, Michael Hansen, the Company's President and Chief Executive Officer, has the right to vote and make
investment decisions with respect to the Zen Trust Shares.
On July 5, 2012, Zen has informed the
Company that Zen and the Trustee entered into an amendment to the Zen Trust Agreement (the "Zen Amendment"),
effective as of March 29, 2012, which extended the date on or after which the Zen Trust Shares would be transferred to the
Zen Beneficiaries from March 28, 2012 to June 30, 2012.
The Trustee is required to transfer the
Zen Trust Shares to the Zen Beneficiaries without requiring any payment or other consideration from the Zen Beneficiaries (other
than any transfer taxes or tariffs that may be imposed in connection with the transfer). In order to receive the Zen Trust Shares,
each Zen Beneficiary will be required to complete, execute and return to the Company the Affidavit. No Zen Beneficiary will have
any right, title or interest of any kind in the Zen Trust Shares until such time, if ever, that the Zen Beneficiary returns the
Affidavit to the Company and the Trustee transfers Zen Trust Shares to the subject Zen Beneficiary.
The Zen Trust will terminate no later than
three months following the Final Transfer Date; provided that, if necessary to accomplish the purpose of the Zen Trust, the Trustee
may extend the term of the Zen Trust for up to an additional six months.
As of the date of this report, the
Company has received completed and executed Affidavits from Zen Beneficiaries entitled to receive 208,870,375 of the Zen
Trust Shares.
Item 9.01  	Financial Statements and Exhibits.
(d)           Exhibits.
Number
Description
10.1
Trust Agreement dated February 25, 2011 between MediaNet Group
        Technologies, Inc. and Batista Guerra Y Asociados (a draft of the Trust Agreement was filed as Exhibit 10.2 to Company's
        Current Report on Form 8-K filed with the U.S. Securities and Exchange Commission on March 2, 2011).
10.2
Amendment to Trust Agreement dated as of March 29, 2012 between MediaNet Group Technologies, Inc. Batista Guerra Y Asociados.
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.
MediaNet Group Technologies, Inc.
(Registrant)
Date:  July 11, 2012
By:
/s/ Michael B. Hansen
Michael B. Hansen
President and Chief Executive Officer