content: 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 ) February 17, 2000
                                  -----------------
  
  
                                 NETCRUISE.COM, INC.
                                 -------------------
               (Exact name of registrant as specified in its charter)
  
  
  
   New Jersey                   O-29188                               22-2719541
   ----------                   -------                               ----------
  (state or other       (Commission file number)                    (IRS Employer
  jurisdiction of                                                  Identification
  incorporation)                                                     Number)
  
  
  
  2401 Morris Avenue, Union, New Jersey                              07083
  --------------------------------------                             -----
  (address of principal executive offices)                         (Zip Code)
  
  
  
                           Registrant's telephone number,
                         including area code, (908) 801-8767
                                   --------------
  
  
                          Genisys Reservation Systems, Inc.
                         ----------------------------------
                      (former name, changed since last report)
  
  
  
  <PAGE>
  
  
  
  Item 1:           CHANGES IN CONTROL
  
           On March 6,  2000 the  Company  completed  a private  placement  of its
  $.0001  par value  common  stock in a series of  related  transactions  with Mr.
  Joseph  Perri,  who  is a  private  investor  with  interests  in  real  estate,
  communications  technology and Internet companies. Mr. Perri purchased 9,487,500
  shares of the Company's common stock for a cash purchase price of $1,897,500 and
  converted $375,000 of outstanding Company debt held by him into 2,875,000 shares
  of common stock.  In a separate  transaction,  Mr. Perri purchased an additional
  299,508 shares of the Company's common stock held by a third-party  investor for
  a cash purchase price of $74,877.
  
           Simultaneously with the private placement transaction, the Company paid
  $172,500 to third parties in full satisfaction of an additional  $412,500 of its
  outstanding debt obligations.
  
           As a result  of  these  transactions,  Mr.  Perri  acquired  a total of
  12,662,008  issued and  outstanding  shares of the Company's  common  stock,  or
  approximately  59.8%  of  the  21,161,384  total  shares  currently  issued  and
  outstanding, and the Company reduced its outstanding debt by $787,500.
  
           The Company also entered into two option agreements with Mr. Perri. One
  of the  option  agreements  grants  him the  right  to  purchase  an  additional
  4,625,000  shares of common stock for a cash  purchase  price of $600,000 in the
  event the  Company  does not enter  into  certain  agreements,  presently  under
  discussion with another  shareholder  and its  affiliates,  relating to contract
  interpretation  issues and their  holdings of debt and equity  interests  in the
  Company,  on or before April 15, 2000.  The other  option  agreement  grants Mr.
  Perri  the  right  to  maintain  his  percentage  interest  in  the  issued  and
  outstanding  common stock of the Company by purchasing  additional  shares for a
  purchase  price of $.20 per share in the event  the  Company  sells or issues to
  third  parties  additional  shares  of its  common  stock  or  other  securities
  convertible into its common stock.
  
  Item 5:           OTHER EVENTS
  
           Settlement of Legal Proceedings
  
           A former  officer of the Company filed a complaint on April 17, 1997 in
  the United  States  District  Court for the  District of New Jersey  against the
  Company,  its  wholly-owned  subsidiary,  Corporate  Travel Link, Inc.  ("Travel
  Link"),  various  officers and directors of both companies and other related and
  unrelated  parties.  Among other things,  the complaint asked for the entry of a
  judgment  declaring  that the former  officer was the owner of 333,216 shares of
  the  Company's  common  stock,  which had been issued to him at the inception of
  Travel Link for  services he was to have  provided.  The lawsuit  also sought an
  award of  unspecified  compensatory  and punitive  damages.  The Company and the
  other defendants filed an answer to the complaint  asserting various defenses as
  well as counterclaims against the plaintiff.
  
           On February 17, 2000,  the parties to the lawsuit  entered a settlement
  agreement and mutually released each other from all claims which they might have
  had.  The Company  agreed to  recognize  the  plaintiff  as the owner of 293,216
  shares of its common stock, and the plaintiff agreed to immediately sell 100,000
  of those shares.  With respect to the plaintiff's  remaining 193,216 shares, the
  Company agreed that if the plaintiff sells any of those remaining  shares in the
  public  securities  markets  in a  reasonable  manner  relative  to  the  market
  conditions at the time of sale and does not
  
  
  
                                                           2
  
  <PAGE>
  
  
  
  obtain a net sale price (after commission  charges) of at least $2.25 per share,
  the Company will pay the  plaintiff the  difference  between the net sales price
  actually  received  by him and the sum of  $2.25  per  share  (the  "Sale  Price
  Difference")  within 45 days after  submission  to the  Company  of  appropriate
  documentation.  The plaintiff also agreed that if the Company provides notice to
  him of a bona fide opportunity to sell all of his remaining shares of the common
  stock  for not less  than the net sale  price of $2.25 per share and he does not
  promptly accept that offer,  then the Company's  obligation to pay the plaintiff
  the Sale Price Difference will be canceled.
  
           As  security  for  the  Company's  obligation  to pay  the  Sale  Price
  Difference,  the Company and Travel Link agreed that the plaintiff  could file a
  $434,736  first lien security  interest in their assets,  which will be canceled
  when the Company's  obligation  to pay the Sale Price  Difference is canceled or
  concluded.
  
  Item 7:           FINANCIAL STATEMENTS AND EXHIBITS
  
           (c)      Exhibits.
  
  10.19 Subscription  Agreement dated March 1, 2000 between the Company and Joseph
        Perri.
  
  10.20 Debt  Conversion  Agreement  dated  March 1, 2000  between the Company and
        Joseph Perri.
  
  10.21 Agreement for purchase of Netcruise.com,  Inc. common stock dated March 1,
        2000 between Loeb Holding Corporation, as Agent, and Joseph Perri.
  
  10.22 Anti-dilution option agreement dated March 1, 2000 between the Company and
        Joseph Perri.
  
  10.23  Contingency  Agreement dated March 1, 2000 between the Company and Joseph
         Perri.
  
  
                                                          3
  
  <PAGE>
  
  
  
                                     SIGNATURES
  
  
  
           Pursuant to the  requirements  of Section 13 or 15(d) of the Securities
  Exchange Act of 1934, the Registrant has duly caused this Report to be signed on
  its behalf by the undersigned, thereunto duly authorized.
  
  
  
  March 15, 2000                            NETCRUISE.COM, INC.
  
  
                                            By:      /s/ John H. Wasko
                                                     -----------------
                                           John H. Wasko, Secretary, Treasurer
                                            and Chief Financial Officer
  
  
  
  
  
                                                           4
metadata_documents: [{"type": "8-K", "sequence": "1", "description": "8-K", "secsgml_size_bytes": 7766}]
metadata_filer: {"company-data": {"conformed-name": "GENISYS RESERVATION SYSTEMS INC", "cik": "0000827100", "assigned-sic": "7389", "irs-number": "222719541", "state-of-incorporation": "NJ", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-29188", "film-number": "572583"}, "business-address": {"street1": "P O BOX 2039", "street2": "2401 MORRIS AVE", "city": "UNION", "state": "NJ", "zip": "07083", "phone": "9088108767"}, "mail-address": {"street1": "P O BOX 2039", "city": "NEWARK", "state": "NJ", "zip": "07114"}, "former-company": {"former-conformed-name": "ROBOTIC LASERS INC", "date-changed": "19920703"}}
text: 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 ) February 17, 2000
                                  -----------------
  
                                 NETCRUISE.COM, INC.
                                 -------------------
               (Exact name of registrant as specified in its charter)
  
   New Jersey                   O-29188                               22-2719541
   ----------                   -------                               ----------
  (state or other       (Commission file number)                    (IRS Employer
  jurisdiction of                                                  Identification
  incorporation)                                                     Number)
  
  2401 Morris Avenue, Union, New Jersey                              07083
  --------------------------------------                             -----
  (address of principal executive offices)                         (Zip Code)
  
                           Registrant's telephone number,
                         including area code, (908) 801-8767
                                   --------------
  
                          Genisys Reservation Systems, Inc.
                         ----------------------------------
                      (former name, changed since last report)
  Item 1:           CHANGES IN CONTROL
  
           On March 6,  2000 the  Company  completed  a private  placement  of its
  $.0001  par value  common  stock in a series of  related  transactions  with Mr.
  Joseph  Perri,  who  is a  private  investor  with  interests  in  real  estate,
  communications  technology and Internet companies. Mr. Perri purchased 9,487,500
  shares of the Company's common stock for a cash purchase price of $1,897,500 and
  converted $375,000 of outstanding Company debt held by him into 2,875,000 shares
  of common stock.  In a separate  transaction,  Mr. Perri purchased an additional
  299,508 shares of the Company's common stock held by a third-party  investor for
  a cash purchase price of $74,877.
  
           Simultaneously with the private placement transaction, the Company paid
  $172,500 to third parties in full satisfaction of an additional  $412,500 of its
  outstanding debt obligations.
  
           As a result  of  these  transactions,  Mr.  Perri  acquired  a total of
  12,662,008  issued and  outstanding  shares of the Company's  common  stock,  or
  approximately  59.8%  of  the  21,161,384  total  shares  currently  issued  and
  outstanding, and the Company reduced its outstanding debt by $787,500.
  
           The Company also entered into two option agreements with Mr. Perri. One
  of the  option  agreements  grants  him the  right  to  purchase  an  additional
  4,625,000  shares of common stock for a cash  purchase  price of $600,000 in the
  event the  Company  does not enter  into  certain  agreements,  presently  under
  discussion with another  shareholder  and its  affiliates,  relating to contract
  interpretation  issues and their  holdings of debt and equity  interests  in the
  Company,  on or before April 15, 2000.  The other  option  agreement  grants Mr.
  Perri  the  right  to  maintain  his  percentage  interest  in  the  issued  and
  outstanding  common stock of the Company by purchasing  additional  shares for a
  purchase  price of $.20 per share in the event  the  Company  sells or issues to
  third  parties  additional  shares  of its  common  stock  or  other  securities
  convertible into its common stock.
  
  Item 5:           OTHER EVENTS
  
           Settlement of Legal Proceedings
  
           A former  officer of the Company filed a complaint on April 17, 1997 in
  the United  States  District  Court for the  District of New Jersey  against the
  Company,  its  wholly-owned  subsidiary,  Corporate  Travel Link, Inc.  ("Travel
  Link"),  various  officers and directors of both companies and other related and
  unrelated  parties.  Among other things,  the complaint asked for the entry of a
  judgment  declaring  that the former  officer was the owner of 333,216 shares of
  the  Company's  common  stock,  which had been issued to him at the inception of
  Travel Link for  services he was to have  provided.  The lawsuit  also sought an
  award of  unspecified  compensatory  and punitive  damages.  The Company and the
  other defendants filed an answer to the complaint  asserting various defenses as
  well as counterclaims against the plaintiff.
  
           On February 17, 2000,  the parties to the lawsuit  entered a settlement
  agreement and mutually released each other from all claims which they might have
  had.  The Company  agreed to  recognize  the  plaintiff  as the owner of 293,216
  shares of its common stock, and the plaintiff agreed to immediately sell 100,000
  of those shares.  With respect to the plaintiff's  remaining 193,216 shares, the
  Company agreed that if the plaintiff sells any of those remaining  shares in the
  public  securities  markets  in a  reasonable  manner  relative  to  the  market
  conditions at the time of sale and does not
  
                                                           2
  obtain a net sale price (after commission  charges) of at least $2.25 per share,
  the Company will pay the  plaintiff the  difference  between the net sales price
  actually  received  by him and the sum of  $2.25  per  share  (the  "Sale  Price
  Difference")  within 45 days after  submission  to the  Company  of  appropriate
  documentation.  The plaintiff also agreed that if the Company provides notice to
  him of a bona fide opportunity to sell all of his remaining shares of the common
  stock  for not less  than the net sale  price of $2.25 per share and he does not
  promptly accept that offer,  then the Company's  obligation to pay the plaintiff
  the Sale Price Difference will be canceled.
  
           As  security  for  the  Company's  obligation  to pay  the  Sale  Price
  Difference,  the Company and Travel Link agreed that the plaintiff  could file a
  $434,736  first lien security  interest in their assets,  which will be canceled
  when the Company's  obligation  to pay the Sale Price  Difference is canceled or
  concluded.
  
  Item 7:           FINANCIAL STATEMENTS AND EXHIBITS
  
           (c)      Exhibits.
  
  10.19 Subscription  Agreement dated March 1, 2000 between the Company and Joseph
        Perri.
  
  10.20 Debt  Conversion  Agreement  dated  March 1, 2000  between the Company and
        Joseph Perri.
  
  10.21 Agreement for purchase of Netcruise.com,  Inc. common stock dated March 1,
        2000 between Loeb Holding Corporation, as Agent, and Joseph Perri.
  
  10.22 Anti-dilution option agreement dated March 1, 2000 between the Company and
        Joseph Perri.
  
  10.23  Contingency  Agreement dated March 1, 2000 between the Company and Joseph
         Perri.
  
                                                          3
  SIGNATURES
  
           Pursuant to the  requirements  of Section 13 or 15(d) of the Securities
  Exchange Act of 1934, the Registrant has duly caused this Report to be signed on
  its behalf by the undersigned, thereunto duly authorized.
  
  March 15, 2000                            NETCRUISE.COM, INC.
  
                                            By:      /s/ John H. Wasko
                                                     -----------------
                                           John H. Wasko, Secretary, Treasurer
                                            and Chief Financial Officer
  
                                                           4