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): May 17, 2004



                        International DisplayWorks, Inc.
                        --------------------------------
             (Exact name of registrant as specified in its charter)



           Delaware                  0-27002               94-3333649
           --------                  -------               ----------
(State or other jurisdiction of    (Commission          (I.R.S. Employer
 incorporation or organization)    File Number)         Identification No.)



                           599 Menlo Drive, Suite 200
                            Rocklin, California 95765
                                 (916) 415-0864
                                 --------------
          (Address and telephone number of principal executive offices)





<PAGE>



ITEM 5.  OTHER EVENTS AND REGULATION FD DISCLOSURE

     On May 17, 2004,  International  DisplayWorks,  Inc. (the "Company") closed
its private financing with institutional  investors raising $20,250,000,  before
expenses,  through the sale of restricted  common stock at $4.50 per share. Roth
Capital  Partners,  LLC  acted as the  placement  agent  for the  financing  and
received an eight (8%) fee based on gross proceeds. The financing was a straight
equity  financing and the terms did not contain any re-pricing  provisions.  The
Company will use the net proceeds for the purchase of manufacturing equipment to
expand its  products,  to repay certain debt and for the  implementation  of its
strategic  operating plans. The Company  anticipates the closing within ten (10)
days.

     The terms of the private  financing are set forth in the form of Securities
Purchase  Agreement and Registration  Rights  Agreement,  which were attached as
exhibits 10.1 and 10.2, respectively, to the Company's Form 8-K filed on May 13,
2004.  Under the terms of the  Securities  Purchase  Agreement and  Registration
Rights Agreement, the Company agreed to prepare and file with the Securities and
Exchange  Commission  a  registration  statement  covering  the  resale  of  the
securities.

ITEM 7.  FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.

(c)      Exhibits

         Exhibit Number    Description
         --------------    -----------
              10.1         Form of Securities Purchase Agreement*

              10.2         Form of Registration Rights Agreement*

              99           Press  Release  Announcing  closing  of   $20 Million
                           Dollar Private Placement

          *  Incorporated  by reference to the Company's  current report on Form
          8-K filed on May 13, 2004


                                       2
<PAGE>



                                    SIGNATURE

     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.

                                               INTERNATIONAL DISPLAYWORKS, INC.,
                                               a Delaware Corporation



Dated:  May 17, 2004                           /s/ Alan M. Lefko
                                               ---------------------------------
                                               Alan M. Lefko,
                                               Vice President of Finance
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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): May 17, 2004

                        International DisplayWorks, Inc.
                        --------------------------------
             (Exact name of registrant as specified in its charter)

           Delaware                  0-27002               94-3333649
           --------                  -------               ----------
(State or other jurisdiction of    (Commission          (I.R.S. Employer
 incorporation or organization)    File Number)         Identification No.)

                           599 Menlo Drive, Suite 200
                            Rocklin, California 95765
                                 (916) 415-0864
                                 --------------
          (Address and telephone number of principal executive offices)
ITEM 5.  OTHER EVENTS AND REGULATION FD DISCLOSURE

     On May 17, 2004,  International  DisplayWorks,  Inc. (the "Company") closed
its private financing with institutional  investors raising $20,250,000,  before
expenses,  through the sale of restricted  common stock at $4.50 per share. Roth
Capital  Partners,  LLC  acted as the  placement  agent  for the  financing  and
received an eight (8%) fee based on gross proceeds. The financing was a straight
equity  financing and the terms did not contain any re-pricing  provisions.  The
Company will use the net proceeds for the purchase of manufacturing equipment to
expand its  products,  to repay certain debt and for the  implementation  of its
strategic  operating plans. The Company  anticipates the closing within ten (10)
days.

     The terms of the private  financing are set forth in the form of Securities
Purchase  Agreement and Registration  Rights  Agreement,  which were attached as
exhibits 10.1 and 10.2, respectively, to the Company's Form 8-K filed on May 13,
2004.  Under the terms of the  Securities  Purchase  Agreement and  Registration
Rights Agreement, the Company agreed to prepare and file with the Securities and
Exchange  Commission  a  registration  statement  covering  the  resale  of  the
securities.

ITEM 7.  FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.

(c)      Exhibits

         Exhibit Number    Description
         --------------    -----------
              10.1         Form of Securities Purchase Agreement*

              10.2         Form of Registration Rights Agreement*

              99           Press  Release  Announcing  closing  of   $20 Million
                           Dollar Private Placement

          *  Incorporated  by reference to the Company's  current report on Form
          8-K filed on May 13, 2004

                                       2
SIGNATURE

     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.

                                               INTERNATIONAL DISPLAYWORKS, INC.,
                                               a Delaware Corporation

Dated:  May 17, 2004                           /s/ Alan M. Lefko
                                               ---------------------------------
                                               Alan M. Lefko,
                                               Vice President of Finance