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 2, 2000
                                ----------------
                                (Date of Report)

                              DBS Industries, Inc.
              ------------------------------------------------------
             (Exact name of registrant as specified in its charter)


        STATE OF DELAWARE              0-28348                 84-1124675
 ------------------------------     ---------------       --------------------
 (State or other jurisdiction        (Commission             (IRS Employer
       of incorporation)              File Number)         Identification No.)


             100 Shoreline Highway, Suite 100, Mill Valley, CA 94941
             ----------------------------------------------------------
               (Address of principal executive offices) (Zip Code)

       Registrant's telephone number, including area code: (415) 380-8055


<PAGE>2

Item 5. Other Events

         On June 2,  2000  the  Company  entered  into a common  stock  purchase
agreement  and related  agreements  with  Torneaux  Ltd., a private  equity fund
organized  under the laws of The Bahamas.  Subject to the fulfillment of certain
conditions, the agreements provide the Company with an equity financing facility
through which the Company may sell shares of its common stock, at its option, to
Torneaux Ltd. periodically over a 24 month period. The ability of the Company to
request  a draw  down  under the  facility  is  subject  to the  declaration  of
effectiveness of a resale registration  statement by the Securities and Exchange
Commission and the continued effectiveness of that registration  statement.  The
sale  price for the shares is the then  current  market  price of the  Company's
common stock,  less a discount of between 13% and 7.5%  specifically  determined
based upon a formula. The number of shares that the Company may sell to Torneaux
Ltd.  varies  depending on certain  factors,  including  the market price of the
common  stock and the then  current  ownership  interest  of Torneaux  Ltd.  The
agreements  also  provide for the  issuance,  to Torneaux  Ltd.,  of warrants to
purchase from 30% to 50% of the number of shares of common stock being purchased
at the time of each draw down under the facility.

Item 7. Financial Statements and Exhibits.

     (c)   EXHIBITS.

     10.55 Common Stock Purchase  Agreement  dated as of June 2, 2000, including
           exhibits.


                                   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.



Dated: June 14, 2000                                 DBS INDUSTRIES, INC.



                                              By: /s/ FRED W. THOMPSON
                                                      ----------------------
                                                      Fred W. Thompson
                                                      President and CEO
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{"company-data": {"conformed-name": "DBS INDUSTRIES INC", "cik": "0000857502", "assigned-sic": "4822", "irs-number": "841124675", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-28348", "film-number": "655375"}, "business-address": {"street1": "100 SHORELINE HIGHWAY STE 190A", "city": "MILL VALLEY", "state": "CA", "zip": "94941", "phone": "4153808055"}, "former-company": {"former-conformed-name": "FI TEK IV INC", "date-changed": "19920703"}}
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 2, 2000
                                ----------------
                                (Date of Report)

                              DBS Industries, Inc.
              ------------------------------------------------------
             (Exact name of registrant as specified in its charter)

        STATE OF DELAWARE              0-28348                 84-1124675
 ------------------------------     ---------------       --------------------
 (State or other jurisdiction        (Commission             (IRS Employer
       of incorporation)              File Number)         Identification No.)

             100 Shoreline Highway, Suite 100, Mill Valley, CA 94941
             ----------------------------------------------------------
               (Address of principal executive offices) (Zip Code)

       Registrant's telephone number, including area code: (415) 380-8055
2

Item 5. Other Events

         On June 2,  2000  the  Company  entered  into a common  stock  purchase
agreement  and related  agreements  with  Torneaux  Ltd., a private  equity fund
organized  under the laws of The Bahamas.  Subject to the fulfillment of certain
conditions, the agreements provide the Company with an equity financing facility
through which the Company may sell shares of its common stock, at its option, to
Torneaux Ltd. periodically over a 24 month period. The ability of the Company to
request  a draw  down  under the  facility  is  subject  to the  declaration  of
effectiveness of a resale registration  statement by the Securities and Exchange
Commission and the continued effectiveness of that registration  statement.  The
sale  price for the shares is the then  current  market  price of the  Company's
common stock,  less a discount of between 13% and 7.5%  specifically  determined
based upon a formula. The number of shares that the Company may sell to Torneaux
Ltd.  varies  depending on certain  factors,  including  the market price of the
common  stock and the then  current  ownership  interest  of Torneaux  Ltd.  The
agreements  also  provide for the  issuance,  to Torneaux  Ltd.,  of warrants to
purchase from 30% to 50% of the number of shares of common stock being purchased
at the time of each draw down under the facility.

Item 7. Financial Statements and Exhibits.

     (c)   EXHIBITS.

     10.55 Common Stock Purchase  Agreement  dated as of June 2, 2000, including
           exhibits.

                                   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.

Dated: June 14, 2000                                 DBS INDUSTRIES, INC.

                                              By: /s/ FRED W. THOMPSON
                                                      ----------------------
                                                      Fred W. Thompson
                                                      President and CEO