<html>
  <head>
    <title>form8k.htm</title>
<!-- Licensed to: semotus-->
<!-- Document Created using EDGARizer 4.0.6.1 -->
<!-- Copyright 1995 - 2008 EDGARfilings, Ltd., an IEC company. All rights reserved -->
</head>
    <body bgcolor="#ffffff" style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
      </div>
    </div><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;UNITED
STATES</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SECURITIES
AND EXCHANGE COMMISSION</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Washington,
D.C. 20549</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">________________</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Form&#160;&#160;8-K</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">CURRENT
REPORT</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant
to Section 13 or 15(d)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Of
the Securities Exchange Act of 1934</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date of
Report (Date of earliest event
reported):&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;October
1, 2008</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">FLINT
TELECOM GROUP, INC.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">- - - - -
- - - - - - - - - - - - - - - - - - - - - - - - - - - -</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Exact
Name of Registrant as Specified in its Charter)</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">
          <tr>
            <td valign="top" width="27%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Nevada</font></div>
            </td>
            <td valign="top" width="27%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">0-21069</font></div>
            </td>
            <td valign="top" width="27%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">36-3574355</font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="27%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(State
      or other jurisdiction of incorporation or organization)</font></div>
            </td>
            <td valign="top" width="27%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Commission
      File Number)</font></div>
            </td>
            <td valign="top" width="27%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(I.R.S.
      Employer Identification No.)</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">718
University Ave., Suite 212 Los Gatos, CA 95032</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">----------------------------------------------------------------------------------------------------------------------</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Address
of Principal Executive Offices)&#160;&#160;&#160;(Zip Code)</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(408)
399-6120</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">-----------------------------------------------------------------</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Registrant&#8217;s
Telephone Number, including area code)</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Formerly
named Semotus Solutions, Inc.)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">---------------------------------------------------------------------------</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline">Check the appropriate box below if the Form 8-K filing
is intended to simultaneously satisfy the filing obligations of the registrant
under any of the following provisions:</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Wingdings">&#168;</font><font style="DISPLAY: inline"> Written communications pursuant to Rule 425 under the
Securities Act (17 CFR 230.425)</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Wingdings">&#168;</font><font style="DISPLAY: inline">&#160;&#160;Soliciting material pursuant to Rule 14a-12
under the Exchange Act (17 CFR 240.14a-12)</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Wingdings">&#168;</font><font style="DISPLAY: inline">&#160;&#160;Pre-commencement communications pursuant to
Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Wingdings">&#168;</font><font style="DISPLAY: inline">&#160;&#160;Pre-commencement communications pursuant to
Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
      </div>
    </div><br>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ITEM
2.01&#160;&#160;COMPLETION OF ACQUISITION OR DISPOSITION OF ASSETS</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
October 1, 2008, Semotus Solutions, Inc. (&#8220;Semotus&#8221;) <font style="DISPLAY: inline">acquired</font> substantially all of the assets and
liabilities of Flint Telecom, Inc. (&#8220;Flint&#8221;) in exchange for 28,460,094 shares
of our restricted common stock pursuant to a definitive Contribution Agreement
<font style="DISPLAY: inline">dated</font> April 23, 2008 <font style="DISPLAY: inline">among Semotus,</font> Flint and Flint Telecom Limited
(&#8220;Flint Parent&#8221;) (the &#8220;Contribution Agreement&#8221;).&#160;&#160;<font style="DISPLAY: inline">Flint</font><font style="DISPLAY: inline"> is a
technology and services company that provides &#8220;turnkey&#8217; telecom services to the
global telecom and media industry. Its assets are mainly comprised of telecom
products </font><font style="DISPLAY: inline">that </font><font style="DISPLAY: inline">blend </font><font style="DISPLAY: inline">both
</font><font style="DISPLAY: inline">proprietary </font><font style="DISPLAY: inline">software and industry leading technologies</font><font style="DISPLAY: inline">&#160;</font><font style="DISPLAY: inline">to create a
</font><font style="DISPLAY: inline">converged voice and data network based on
SIP protocol</font><font style="DISPLAY: inline">, </font><font style="DISPLAY: inline">the emerging technical standard for the future of
</font><font style="DISPLAY: inline">telephony</font><font style="DISPLAY: inline">. This is also known as </font><font style="DISPLAY: inline">D</font><font style="DISPLAY: inline">igital
</font><font style="DISPLAY: inline">P</font><font style="DISPLAY: inline">hone
</font><font style="DISPLAY: inline">Service </font><font style="DISPLAY: inline">or Voice over IP (VoIP).</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">As part
of the closing of the transaction<font style="DISPLAY: inline"> and in addition
to the issuance of the common stock noted above</font>, Semotus <font style="DISPLAY: inline">assumed all of</font> Flint&#8217;s <font style="DISPLAY: inline">obligations under</font><font style="DISPLAY: inline">
its</font><font style="DISPLAY: inline">&#160;</font>convertible promissory
notes (the &#8220;Notes&#8221;)<font style="DISPLAY: inline">.&#160;&#160;</font><font style="DISPLAY: inline">A portion of t</font><font style="DISPLAY: inline">he
Notes</font><font style="DISPLAY: inline">, totaling approximately $4,000,000 in
outstanding principal plus accrued interest to date,</font><font style="DISPLAY: inline"> are convertible into shares of Semotus common stock at
any time </font><font style="DISPLAY: inline">and from time to time prior to
</font><font style="DISPLAY: inline">December 31, 2008 at </font><font style="DISPLAY: inline">a conversion price of $0.275 per share, and the
remaining Notes, totaling approximately $2,000,000 in outstanding principal plus
accrued interest to date, are convertible into shares of Semotus common stock at
any time and from time to time prior to July 1, 2009 at a conversion price of
$0.50 per share</font><font style="DISPLAY: inline">.&#160;&#160;Assuming
conversion by each of the holders of such Notes, such conversion will</font>
result in the issuance of approximately 18,500,000 additional <font style="DISPLAY: inline">shares of Semotus&#8217; </font>restricted common shares<font style="DISPLAY: inline">.&#160;&#160;As part of the closing of the
transaction</font>, Semotus <font style="DISPLAY: inline">also assumed all
of</font> Flint&#8217;s <font style="DISPLAY: inline">obligations under outstanding
</font>warrants exercisable at $0.50 per share for a three year term which<font style="DISPLAY: inline">, assuming exercise by each of the holders of such
warrants, will</font> result in the issuance of approximately 6,850,000
additional <font style="DISPLAY: inline">shares of Semotus&#8217; </font>restricted
common shares.<font style="DISPLAY: inline">&#160;</font>The foregoing
description of the Notes and warrants are qualified in their entirety by
reference to the full text of the Notes and Warrants, which are attached hereto
as Exhibits 4.1 and 4.2, and are incorporated herein by reference.<font style="DISPLAY: inline">&#160;</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">As part
of the closing of the transaction, we <font style="DISPLAY: inline">entered into
an amended and restated</font> employment agreement<font style="DISPLAY: inline"> with Mr. LaPine</font>, effectuating the
following:&#160;&#160;(i) Mr. LaPine&#8217;s title changed from Chairman and Chief
Executive Officer to Chairman; (ii) Mr. LaPine&#8217;s job description <font style="DISPLAY: inline">changed such that he is now required to perform only
those</font> services commensurate with his position as Chairman, maintaining
Semotus&#8217; public listing and SEC compliance and managing the day-to-day
operations relating to the Semotus Business<font style="DISPLAY: inline"> (as
defined in the Contribution Agreement)</font>; (iii) Mr. LaPine <font style="DISPLAY: inline">was</font> issued 3,508,000 shares of restricted common
stock (evidencing an approximate 5% ownership on a fully-diluted basis taking
into account the <font style="DISPLAY: inline">restricted shares</font> issued
to Flint at the <font style="DISPLAY: inline">closing of the transaction</font>,
the unvested shares issued to other key employees and executive officers as
described below<font style="DISPLAY: inline">, the</font> shares underlying
<font style="DISPLAY: inline">the Notes and warrants</font> and any shares
outstanding or available for issuance under Semotus&#8217; existing stock option
plans). Mr. LaPine also <font style="DISPLAY: inline">has</font> the right to
purchase (at any time within the three-year period commencing on the date of
<font style="DISPLAY: inline">closing</font>) or, in the event <font style="DISPLAY: inline">our</font> Board <font style="DISPLAY: inline">should</font> determine to dispose of the Semotus
Business unit prior to the end of such three-year period, a right of first
refusal with respect thereto, in exchange for (1) the shares issued to him in
accordance with <font style="DISPLAY: inline">his new employment agreement (as
contemplated by </font>the Contribution Agreement<font style="DISPLAY: inline">)</font> or (2) the fair market value of the Semotus
Business at the time Mr. LaPine exercises his right to purchase (payable in cash
or in shares of Semotus common stock issued to Mr. LaPine <font style="DISPLAY: inline">thereunder</font>), whichever is less. The foregoing
description of Mr. LaPine&#8217;s <font style="DISPLAY: inline">Amended and Restated
</font>Employment Agreement is qualified in its entirety by reference to the
full text of the Amended and Restated Employment Agreement, which is attached
hereto as Exhibit 10.1 and is incorporated herein by reference.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Additionally,
as part of the closing of the transaction, the entire Flint <font style="DISPLAY: inline">management </font>team <font style="DISPLAY: inline">and
employees </font>have <font style="DISPLAY: inline">become </font><font style="DISPLAY: inline">employees of</font> Semotus<font style="DISPLAY: inline">.&#160;&#160;As</font> a hiring and retention incentive,
in lieu of issuing stock options under our <font style="DISPLAY: inline">existing </font>stock option plan, <font style="DISPLAY: inline">our Board has approved the issuance of up to
</font><font style="DISPLAY: inline">8,4</font><font style="DISPLAY: inline">10,000</font> shares of restricted common stock to
certain key employees and executive officers,<font style="DISPLAY: inline">
which is</font><font style="DISPLAY: inline"> subject to vesting</font> over a
period of four years such that 25% of the shares vest at the employees&#8217; first
annual anniversary and 6.25% of the shares vest quarterly thereafter so that
100% shall be fully vested at the end of four years.<font style="DISPLAY: inline">&#160;</font></font></div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
      </div>
    </div><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Therefore,
on a fully diluted basis, taking into consideration <font style="DISPLAY: inline">(i) </font>our outstanding stock<font style="DISPLAY: inline; TEXT-DECORATION: line-through">,</font><font style="DISPLAY: inline"> on the date of the closing, (ii)</font> the stock
issuance to Mr. LaPine <font style="DISPLAY: inline">under his new employment
agreement, (iii) the stock we intend to issue to</font> other key employees and
executive officers as described above, <font style="DISPLAY: inline">(iv) the
aggregate number of shares underlying the Notes we have assumed, (v) the
aggregate number of shares underlying the Flint</font> warrants <font style="DISPLAY: inline">we assumed and (vi) th</font><font style="DISPLAY: inline">e aggregate number of shares underlying</font> our
outstanding stock options, <font style="DISPLAY: inline">and</font> our
outstanding warrants, <font style="DISPLAY: inline">we</font> <font style="DISPLAY: inline">have an aggregate</font> of approximately 70,000,000
shares outstanding<font style="DISPLAY: inline">.&#160;&#160;As a result
of</font> the transaction <font style="DISPLAY: inline">and effective as of the
closing,</font> the existing Semotus shareholders <font style="DISPLAY: inline">now own</font> approximately 3%, Mr. LaPine <font style="DISPLAY: inline">now owns</font> approximately 5% and Flint and its
investors <font style="DISPLAY: inline">now own</font> approximately 92% of the
<font style="DISPLAY: inline">outstanding shares on a fully-diluted basis of
</font><font style="DISPLAY: inline">Semotus</font>.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
October 7, 2008, Semotus issued a press release with respect to this
acquisition.&#160;&#160;A copy of the press release is attached hereto as
Exhibit 99.1 and is incorporated herein by reference.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ITEM
3.02&#160;&#160;UNREGISTERED SALES OF EQUITY SECURITIES</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline">The information set forth in</font> Item 2.01 above<font style="DISPLAY: inline; TEXT-DECORATION: line-through">,</font><font style="DISPLAY: inline"> is incorporated herein by reference</font> as it
relates to the issuance of 28,460,094 shares of restricted common stock to Flint
Telecom, Inc., the issuance of 3,508,000 shares of restricted common stock to
Mr. Anthony LaPine, and the issuance of up to <font style="DISPLAY: inline">8,410,000</font> shares of restricted common stock
vesting over a period of four years to key employees and executive officers<font style="DISPLAY: inline"> outside of our existing stock option
plan</font>.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline">We believe our offering and sale of the securities in
the above transaction, made only to a</font><font style="DISPLAY: inline">ccredited investors and certain persons outside of the
</font><font style="DISPLAY: inline">United States</font><font style="DISPLAY: inline">, were exempt from registration under</font><font style="DISPLAY: inline"> Section 4(2) of the Securities Act </font><font style="DISPLAY: inline">and Regulation S.&#160;&#160;The certificates
representing the securities iss</font><font style="DISPLAY: inline">ued contain
a legend to the effect that such securities were not</font><font style="DISPLAY: inline"> registered under the Securities Act </font><font style="DISPLAY: inline">and may not be transferred except pursuant to an
effective registration statement or pursuant to an exempti</font><font style="DISPLAY: inline">on from such</font><font style="DISPLAY: inline">
registration requirements</font><font style="DISPLAY: inline">.&#160;&#160;</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline">ITEM 5.01&#160;&#160;CHANGES IN CONTROL OF
REGISTRANT</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline">The information set forth in Item 2.01 above is
incor</font><font style="DISPLAY: inline">porated herein by
reference.&#160;&#160;As a result of the closing of the transaction with
</font><font style="DISPLAY: inline">Flint</font><font style="DISPLAY: inline">,
</font><font style="DISPLAY: inline">Flint</font><font style="DISPLAY: inline">
owns approximately 9</font><font style="DISPLAY: inline">2</font><font style="DISPLAY: inline">% of the common stock of Semotus on a fully diluted
basis.&#160;&#160;</font><font style="DISPLAY: inline">Flint</font><font style="DISPLAY: inline"> also replaced two of our former directors with two
individuals designated b</font><font style="DISPLAY: inline">y it. From and
after the closing and until the first to occur of (i) the Flint Business (as
defined in the Contribution Agreement) shall have generated positive cash flow
or (ii) the Flint Business shall have obtained at least $3,000,000 in additional
fin</font><font style="DISPLAY: inline">a</font><font style="DISPLAY: inline">ncing (the events described in clause (i) and (ii)
hereof each being referred to as a &#8220;</font><font style="DISPLAY: inline">Board
Change Trigger Event&#8221;</font><font style="DISPLAY: inline">), the board of
directors will be comprised of four directors, two of whom shall be designated
by </font><font style="DISPLAY: inline">Flint Telecom, Ltd. (&#8220;</font><font style="DISPLAY: inline">Flint Parent</font><font style="DISPLAY: inline">&#8221;</font><font style="DISPLAY: inline">)</font><font style="DISPLAY: inline"> (initia</font><font style="DISPLAY: inline">lly Vincent
Browne and Michael Butler) and two of whom shall be incumbent directors of
Semotus (initially Anthony LaPine and Robert Lanz).&#160;&#160;From and after
the occurrence of a Board Change Trigger Event, the Semotus board of directors
shall take such actio</font><font style="DISPLAY: inline">n</font><font style="DISPLAY: inline">s as may be necessary to increase the size of the
Semotus board of directors to six directors, with the vacancies created by such
board increase to be filled by individuals designated by Flint
Parent.</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ITEM
5.02&#160;&#160;DEPARTURE OF DIRECTORS OR <font style="DISPLAY: inline">CERTAIN</font> OFFICERS; ELECTION OF DIRECTORS;
APPOINTMENT OF <font style="DISPLAY: inline">CERTAIN</font> OFFICERS<font style="DISPLAY: inline">; COMPENSATORY ARRANGEMENTS OF CERTAIN
OFFICERS.</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline">The information set forth in Item 2.01</font><font style="DISPLAY: inline"> above is incorporated herein by
reference.&#160;&#160;</font>Effective as of October 1, 2008, we appointed
Vincent Browne as our new Chief Executive Officer. Anthony LaPine <font style="DISPLAY: inline">also</font> resigned from his <font style="DISPLAY: inline">former </font>position as Chief Executive Officer but
will remain our Chairman of the Board.&#160;&#160;Mark Williams and Laurence
Murray <font style="DISPLAY: inline">each</font> resigned from the Board of
Directors <font style="DISPLAY: inline">and the vacancies created by their
resignations were filled by </font><font style="DISPLAY: inline">Flint</font><font style="DISPLAY: inline">&#8217;</font><font style="DISPLAY: inline">s designees,</font> Vincent Browne and Michael
Butler<font style="DISPLAY: inline">.&#160;&#160;</font><font style="DISPLAY: inline">Neither Mr. Browne nor Mr. Butler q</font><font style="DISPLAY: inline">ualify as &#8220;</font><font style="DISPLAY: inline">independent&#8221;</font><font style="DISPLAY: inline">
directors, as that term is defined by the NASDAQ Stock Market and the SEC, and
neither will be serving on any Board
Committees.&#160;&#160;</font></font></div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
      </div>
    </div><br>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
addition, and also effective October 1, 2008, Pamela LaPine resigned from her
position as President, but will remain an executive of the Company as President
of Semotus, which has become a business division of the Company.&#160;&#160;We
also appointed Christopher Knight as Chief Technology Officer effective as of
October 1, 2008.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
following are descriptions of the business experience of each of <font style="DISPLAY: inline">Messrs.</font> Browne, Butler and Knight for at least
the past five years:</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Vincent Browne</font><font style="DISPLAY: inline; FONT-WEIGHT: bold">, age </font><font style="DISPLAY: inline; FONT-WEIGHT: bold">40</font>. Mr. Browne founded Flint
Telecom, Ltd, Flint Telecom, Inc.&#8217;s parent company, in December of 2004 and
Flint Telecom, Inc. was incorporated in July of 2005. Mr. Browne has over 15
years experience in the ICT sector. Prior to joining Flint, Mr. Browne founded
Prime Carrier Limited (PCL) in 2000 and was its CEO. PCL provides advanced Least
Cost Routing software and systems to international&#160;&#160;telecom companies
across the globe. During his time as founding CEO at PCL, he raised over $18m in
various funding rounds and successfully negotiated several multi-million dollar
contracts with international customers. Prior to that, Mr. Browne held senior
management positions with Siemens in Ireland and with Esat BT. Mr. Browne holds
a BComm degree from University College Dublin.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Christopher Knight</font><font style="DISPLAY: inline; FONT-WEIGHT: bold">, age </font><font style="DISPLAY: inline; FONT-WEIGHT: bold">35</font>. Mr. Knight became the
Chief&#160;&#160;Information Officer of Flint Telecom, Inc. in February of <font style="DISPLAY: inline">2008.</font> Mr. Knight has over 15 years experience in
the telecom industry.&#160;&#160;Prior to Flint, Mr. Knight was the Chief
Technology Officer at BroadStar, a triple play company with services in voice,
cable television and high speed Internet services that eventually merged into
PrimeCast, where he designed and rebuilt the technology
infrastructure.&#160;&#160;Prior to that, he designed and deployed the first
city-wide wireless network in the Ft. Lauderdale area. During the mid to late
1990&#8217;s, Mr. Knight was the Founder and CEO of Network Solutions Group, which
specialized in domain name resolution, web hosting and ISP
services.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><br>&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Michael Butler</font><font style="DISPLAY: inline; FONT-WEIGHT: bold">, age </font><font style="DISPLAY: inline; FONT-WEIGHT: bold">53</font>. Mr. Butler became Flint
Telecom, Inc.&#8217;s Executive Vice President of Investor Relations in October of
2008. Prior to that, he was Flint&#8217;s Finance Director since February of <font style="DISPLAY: inline">2006.</font>&#160;&#160;Mr. Butler has over 30 years
experience in Accountancy and Insolvency practices in Ireland. Most recently as
Managing Partner with Butler &amp; Co, which he built to become one of the
leading insolvency practices in Ireland. Mr. Butler is a prolific investor in
early stage technology and internet companies, most notably Coretime.com which
was sold to Sage, and Hostelworld.com, the World&#8217;s leading hostel booking
engine. Mr. Butler has a BComm from University College Dublin and is a Member of
the Irish Institute of Credit Managers.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline">Pursuant to the terms of their employment: (i) Mr.
Browne will receive</font><font style="DISPLAY: inline"> salary in the amount of
$180,000</font><font style="DISPLAY: inline"> per year</font><font style="DISPLAY: inline">,</font><font style="DISPLAY: inline">&#160;</font><font style="DISPLAY: inline">which shall immediately increase to $240,000 when the
Company achieves sustainable profitability for one quarter,</font><font style="DISPLAY: inline"> and 2,500,000 shares of restricted commo</font><font style="DISPLAY: inline">n stock as described above; </font><font style="DISPLAY: inline">(ii) Mr. Knight will receive sal</font><font style="DISPLAY: inline">ary in the amount of $240,000</font><font style="DISPLAY: inline"> per year</font><font style="DISPLAY: inline">,
</font><font style="DISPLAY: inline">with a potential bonus of up to an
additional $240,000</font> based on Company performance, to be further defined
by Mr. Browne and approved by the Company&#8217;s Board of Directors<font style="DISPLAY: inline">,</font><font style="DISPLAY: inline"> and </font><font style="DISPLAY: inline">2,660</font><font style="DISPLAY: inline">,000 shares of
restricted common stock as described above</font><font style="DISPLAY: inline">;
</font>Mr. Knight will also receive a monthly allowance of $7,500 towards his
apartment rental;<font style="DISPLAY: inline"> and (iii) Mr. Butler will
receive salary in</font><font style="DISPLAY: inline"> the amount of $180,000
per year and 1,500,000 shares of restricted common stock as described
above</font><font style="DISPLAY: inline">.&#160;&#160;Each will be entitled to
participate in other employee benefit plans to the same extent provided to other
executive officers.</font> The foregoing description of the terms of employment
of Messrs. Browne, Knight and Butler are qualified in their entirety by
reference to the full text of Mr. Browne&#8217;s Employment Agreement and Mr. Knight&#8217;s
and Mr. Butler&#8217;s offer letters, which are attached hereto as Exhibits 10.2, 10.3
and 10.4, respectively, and are incorporated herein by reference.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline">In addition and in connection with the closing, Semotus
assumed the following indebtedness owed by Flint:&#160;&#160;(i) &#8364;</font><font style="DISPLAY: inline">1,475,000 in convertible notes</font><font style="DISPLAY: inline"> owed</font><font style="DISPLAY: inline"> to Mr.
Butler; (ii) $8</font><font style="DISPLAY: inline">75,000 in convertible notes
owed to Mr. Butler and his family members and affilites; and (iii) $238,972 in
indebtedness owed by Flint to Flint </font><font style="DISPLAY: inline">Telecom, Ltd.</font><font style="DISPLAY: inline"> which
is controlled by Mr. Browne and Mr. Butler. </font></font></div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
      </div>
    </div><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline">ITEM 5.03&#160;&#160;AMENDMENTS TO ARTICLES OF
INCORPORATION OR BYLAWS; CHANGE IN FISCAL YEAR.</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline">The information set forth in Item 2.01 above is
incorporated herein by reference.&#160;&#160;As a result of the
closing</font><font style="DISPLAY: inline"> of the Flint
transaction</font><font style="DISPLAY: inline">, and as approved by</font><font style="DISPLAY: inline"> our shareholders at the annual meeting </font><font style="DISPLAY: inline">held September 17, 2008</font><font style="DISPLAY: inline">, we have filed an amendment to our articles of
incorporation </font><font style="DISPLAY: inline">increasing our total
authorized shares of common stock to 100,000,000 and </font><font style="DISPLAY: inline">changing the name of the company to &#8220;</font><font style="DISPLAY: inline">Flint Telecom Group,</font><font style="DISPLAY: inline"> Inc.&#8221;</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ITEM
9.&#160;&#160;FINANCIAL STATEMENTS AND EXHIBITS.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(a) <font style="DISPLAY: inline; FONT-STYLE: italic">Financial </font><font style="DISPLAY: inline; FONT-STYLE: italic">Statements of Business
Acquired</font>. The required financial statements will be filed as soon as
practicable, but not later than 71 calendar days after the date by which this
report on Form 8-K must be filed.&#160;&#160;&#160;&#160;&#160;</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(b) <font style="DISPLAY: inline; FONT-STYLE: italic">Pro </font><font style="DISPLAY: inline; FONT-STYLE: italic">Forma Financial
Information</font><font style="DISPLAY: inline; FONT-STYLE: italic">.</font> The
required pro forma financial information will be filed as soon as practicable,
but not later than 71 calendar days after the date by which this report on Form
8-K must be filed.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">
          <tr valign="top">
            <td align="right" style="WIDTH: 54pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">(c)&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-STYLE: italic">Exhibits.</font>&#160;&#160;The
      following exhibits are filed with this
report:</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">
          <tr>
            <td align="left" valign="top" width="15%">
              <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Exhibit
      Number</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">--------------------</font></div>
            </td>
            <td align="left" valign="top" width="40%">
              <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Description</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">---------------</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="15%">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">2.1*</font></div>
              <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
              <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
            </td>
            <td align="left" valign="top" width="40%">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Contribution
      Agreement by and among Semotus Solutions, Inc., Flint Telecom, Inc. and
      Flint Telecom, Ltd. dated April 23, 2008.</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="15%">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">3.1</font></div>
            </td>
            <td align="left" valign="top" width="40%">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Certificate
      of Amendment to Articles of Incorporation dated October September 30,
      2008.</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="15%">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">3.2</font></div>
            </td>
            <td align="left" valign="top" width="40%">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Certificate
      of Amendment to Articles of Incorporation dated October 3,
      2008.</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="15%">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">4.1</font></div>
            </td>
            <td align="left" valign="top" width="40%">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Form
      of Warrant to purchase shares of the Company&#8217;s common stock at $0.50 per
      share.</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="15%">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">4.2</font></div>
            </td>
            <td align="left" valign="top" width="40%">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Form
      of convertible promissory note to purchase shares of common
      stock.</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="15%">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">10.1</font></div>
            </td>
            <td align="left" valign="top" width="40%">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Amended
      and Restated Employment Agreement by and among Flint Telecom Group, Inc.
      and Mr. Anthony LaPine dated October 1, 2008.</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="15%">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">10.2</font></div>
            </td>
            <td align="left" valign="top" width="40%">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Employment
      Agreement by and among Flint Telecom Group, Inc. and Mr. Vincent Browne
      dated October 6, 2008.</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="15%">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">10.3</font></div>
            </td>
            <td align="left" valign="top" width="40%">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Offer
      letter by and among Flint Telecom Group, Inc. and Michael Butler dated
      October 6, 2008.</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="15%">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">10.4</font></div>
            </td>
            <td align="left" valign="top" width="40%">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Offer
      letter by and among Flint Telecom Group, Inc. and Christopher Knight dated
      October 6, 2008.</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="15%">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">99.1</font></div>
            </td>
            <td align="left" valign="top" width="40%">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Press
      release of Semotus Solutions, Inc. dated October 7,
  2008.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">*&#160;&#160;Incorporated
by reference to Exhibit 2.1 of the Registrant&#8217;s Form 8-K filed on April 29,
2008.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
      </div>
    </div><br>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;SIGNATURES</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant
to the requirements of the Securities Act of 1934, the Registrant has duly
caused this Report to be signed on its behalf by the undersigned, hereunto duly
authorized.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">
          <tr>
            <td valign="top" width="40%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></td>
            <td valign="top" width="40%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">FLINT
      TELECOM GROUP, INC.</font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="40%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></td>
            <td valign="top" width="40%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">By:
      /s/ Vincent Browne</font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="40%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date:&#160;&#160;October
      7, 2008</font></div>
            </td>
            <td valign="top" width="40%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Vincent
      Browne,</font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="40%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></td>
            <td valign="top" width="40%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Chief
      Executive Officer</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
      </div>
    </div><br></body>
</html>
[{"type": "8-K", "sequence": "1", "filename": "form8k.htm", "secsgml_size_bytes": 59821}]
{"company-data": {"conformed-name": "FLINT TELECOM GROUP INC.", "cik": "0000832370", "assigned-sic": "7389", "irs-number": "363574355", "fiscal-year-end": "0331"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-15569", "film-number": "081111357"}, "business-address": {"street1": "718 UNIVERSITY AVE", "street2": "SUITE 202", "city": "LOS GATOS", "state": "CA", "zip": "95032", "phone": "4083996120"}, "mail-address": {"street1": "718 UNIVERSITY AVE", "street2": "SUITE 202", "city": "LOS GATOS", "state": "CA", "zip": "95032"}, "former-company": [{"former-conformed-name": "SEMOTUS SOLUTIONS INC", "date-changed": "20010227"}, {"former-conformed-name": "DATALINK NET INC", "date-changed": "19990707"}, {"former-conformed-name": "DATALINK SYSTEMS CORP /CA/", "date-changed": "19960723"}]}
form8k.htm
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):                                                                                     October
1, 2008
FLINT
TELECOM GROUP, INC.
- - - - -
- - - - - - - - - - - - - - - - - - - - - - - - - - - -
(Exact
Name of Registrant as Specified in its Charter)
Nevada
0-21069
36-3574355
(State
      or other jurisdiction of incorporation or organization)
(Commission
      File Number)
(I.R.S.
      Employer Identification No.)
718
University Ave., Suite 212 Los Gatos, CA 95032
----------------------------------------------------------------------------------------------------------------------
(Address
of Principal Executive Offices)   (Zip Code)
(408)
399-6120
-----------------------------------------------------------------
(Registrant's
Telephone Number, including area code)
(Formerly
named Semotus Solutions, Inc.)
---------------------------------------------------------------------------
Check the appropriate box below if the Form 8-K filing
is intended to simultaneously satisfy the filing obligations of the registrant
under any of the following provisions:
¨
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
2.01  COMPLETION OF ACQUISITION OR DISPOSITION OF ASSETS
On
October 1, 2008, Semotus Solutions, Inc. ("Semotus")
acquired
substantially all of the assets and
liabilities of Flint Telecom, Inc. ("Flint") in exchange for 28,460,094 shares
of our restricted common stock pursuant to a definitive Contribution Agreement
dated
April 23, 2008
among Semotus,
Flint and Flint Telecom Limited
("Flint Parent") (the "Contribution Agreement").
Flint
is a
technology and services company that provides "turnkey' telecom services to the
global telecom and media industry. Its assets are mainly comprised of telecom
products
that
blend
both
proprietary
software and industry leading technologies
to create a
converged voice and data network based on
SIP protocol
,
the emerging technical standard for the future of
telephony
. This is also known as
D
igital
P
hone
Service
or Voice over IP (VoIP).
As part
of the closing of the transaction
and in addition
to the issuance of the common stock noted above
, Semotus
assumed all of
Flint's
obligations under
its
convertible promissory
notes (the "Notes")
.
A portion of t
he
Notes
, totaling approximately $4,000,000 in
outstanding principal plus accrued interest to date,
are convertible into shares of Semotus common stock at
any time
and from time to time prior to
December 31, 2008 at
a conversion price of $0.275 per share, and the
remaining Notes, totaling approximately $2,000,000 in outstanding principal plus
accrued interest to date, are convertible into shares of Semotus common stock at
any time and from time to time prior to July 1, 2009 at a conversion price of
$0.50 per share
.  Assuming
conversion by each of the holders of such Notes, such conversion will
result in the issuance of approximately 18,500,000 additional
shares of Semotus'
restricted common shares
.  As part of the closing of the
transaction
, Semotus
also assumed all
of
Flint's
obligations under outstanding
warrants exercisable at $0.50 per share for a three year term which
, assuming exercise by each of the holders of such
warrants, will
result in the issuance of approximately 6,850,000
additional
shares of Semotus'
restricted
common shares.
The foregoing
description of the Notes and warrants are qualified in their entirety by
reference to the full text of the Notes and Warrants, which are attached hereto
as Exhibits 4.1 and 4.2, and are incorporated herein by reference.
As part
of the closing of the transaction, we
entered into
an amended and restated
employment agreement
with Mr. LaPine
, effectuating the
following:  (i) Mr. LaPine's title changed from Chairman and Chief
Executive Officer to Chairman; (ii) Mr. LaPine's job description
changed such that he is now required to perform only
those
services commensurate with his position as Chairman, maintaining
Semotus' public listing and SEC compliance and managing the day-to-day
operations relating to the Semotus Business
(as
defined in the Contribution Agreement)
; (iii) Mr. LaPine
was
issued 3,508,000 shares of restricted common
stock (evidencing an approximate 5% ownership on a fully-diluted basis taking
into account the
restricted shares
issued
to Flint at the
closing of the transaction
,
the unvested shares issued to other key employees and executive officers as
described below
, the
shares underlying
the Notes and warrants
and any shares
outstanding or available for issuance under Semotus' existing stock option
plans). Mr. LaPine also
has
the right to
purchase (at any time within the three-year period commencing on the date of
closing
) or, in the event
our
Board
should
determine to dispose of the Semotus
Business unit prior to the end of such three-year period, a right of first
refusal with respect thereto, in exchange for (1) the shares issued to him in
accordance with
his new employment agreement (as
contemplated by
the Contribution Agreement
)
or (2) the fair market value of the Semotus
Business at the time Mr. LaPine exercises his right to purchase (payable in cash
or in shares of Semotus common stock issued to Mr. LaPine
thereunder
), whichever is less. The foregoing
description of Mr. LaPine's
Amended and Restated
Employment Agreement is qualified in its entirety by reference to the
full text of the Amended and Restated Employment Agreement, which is attached
hereto as Exhibit 10.1 and is incorporated herein by reference.
Additionally,
as part of the closing of the transaction, the entire Flint
management
team
and
employees
have
become
employees of
Semotus
.  As
a hiring and retention incentive,
in lieu of issuing stock options under our
existing
stock option plan,
our Board has approved the issuance of up to
8,4
10,000
shares of restricted common stock to
certain key employees and executive officers,
which is
subject to vesting
over a
period of four years such that 25% of the shares vest at the employees' first
annual anniversary and 6.25% of the shares vest quarterly thereafter so that
100% shall be fully vested at the end of four years.
Therefore,
on a fully diluted basis, taking into consideration
(i)
our outstanding stock
,
on the date of the closing, (ii)
the stock
issuance to Mr. LaPine
under his new employment
agreement, (iii) the stock we intend to issue to
other key employees and
executive officers as described above,
(iv) the
aggregate number of shares underlying the Notes we have assumed, (v) the
aggregate number of shares underlying the Flint
warrants
we assumed and (vi) th
e aggregate number of shares underlying
our
outstanding stock options,
and
our
outstanding warrants,
we
have an aggregate
of approximately 70,000,000
shares outstanding
.  As a result
of
the transaction
and effective as of the
closing,
the existing Semotus shareholders
now own
approximately 3%, Mr. LaPine
now owns
approximately 5% and Flint and its
investors
now own
approximately 92% of the
outstanding shares on a fully-diluted basis of
Semotus
.
On
October 7, 2008, Semotus issued a press release with respect to this
acquisition.  A copy of the press release is attached hereto as
Exhibit 99.1 and is incorporated herein by reference.
ITEM
3.02  UNREGISTERED SALES OF EQUITY SECURITIES
The information set forth in
Item 2.01 above
,
is incorporated herein by reference
as it
relates to the issuance of 28,460,094 shares of restricted common stock to Flint
Telecom, Inc., the issuance of 3,508,000 shares of restricted common stock to
Mr. Anthony LaPine, and the issuance of up to
8,410,000
shares of restricted common stock
vesting over a period of four years to key employees and executive officers
outside of our existing stock option
plan
.
We believe our offering and sale of the securities in
the above transaction, made only to a
ccredited investors and certain persons outside of the
United States
, were exempt from registration under
Section 4(2) of the Securities Act
and Regulation S.  The certificates
representing the securities iss
ued contain
a legend to the effect that such securities were not
registered under the Securities Act
and may not be transferred except pursuant to an
effective registration statement or pursuant to an exempti
on from such
registration requirements
.
ITEM 5.01  CHANGES IN CONTROL OF
REGISTRANT
The information set forth in Item 2.01 above is
incor
porated herein by
reference.  As a result of the closing of the transaction with
Flint
,
Flint
owns approximately 9
2
% of the common stock of Semotus on a fully diluted
basis.
Flint
also replaced two of our former directors with two
individuals designated b
y it. From and
after the closing and until the first to occur of (i) the Flint Business (as
defined in the Contribution Agreement) shall have generated positive cash flow
or (ii) the Flint Business shall have obtained at least $3,000,000 in additional
fin
a
ncing (the events described in clause (i) and (ii)
hereof each being referred to as a "
Board
Change Trigger Event"
), the board of
directors will be comprised of four directors, two of whom shall be designated
by
Flint Telecom, Ltd. ("
Flint Parent
"
)
(initia
lly Vincent
Browne and Michael Butler) and two of whom shall be incumbent directors of
Semotus (initially Anthony LaPine and Robert Lanz).  From and after
the occurrence of a Board Change Trigger Event, the Semotus board of directors
shall take such actio
n
s as may be necessary to increase the size of the
Semotus board of directors to six directors, with the vacancies created by such
board increase to be filled by individuals designated by Flint
Parent.
ITEM
5.02  DEPARTURE OF DIRECTORS OR
CERTAIN
OFFICERS; ELECTION OF DIRECTORS;
APPOINTMENT OF
CERTAIN
OFFICERS
; COMPENSATORY ARRANGEMENTS OF CERTAIN
OFFICERS.
The information set forth in Item 2.01
above is incorporated herein by
reference.
Effective as of October 1, 2008, we appointed
Vincent Browne as our new Chief Executive Officer. Anthony LaPine
also
resigned from his
former
position as Chief Executive Officer but
will remain our Chairman of the Board.  Mark Williams and Laurence
Murray
each
resigned from the Board of
Directors
and the vacancies created by their
resignations were filled by
Flint
'
s designees,
Vincent Browne and Michael
Butler
.
Neither Mr. Browne nor Mr. Butler q
ualify as "
independent"
directors, as that term is defined by the NASDAQ Stock Market and the SEC, and
neither will be serving on any Board
Committees.
In
addition, and also effective October 1, 2008, Pamela LaPine resigned from her
position as President, but will remain an executive of the Company as President
of Semotus, which has become a business division of the Company.  We
also appointed Christopher Knight as Chief Technology Officer effective as of
October 1, 2008.
The
following are descriptions of the business experience of each of
Messrs.
Browne, Butler and Knight for at least
the past five years:
Vincent Browne
, age
40
. Mr. Browne founded Flint
Telecom, Ltd, Flint Telecom, Inc.'s parent company, in December of 2004 and
Flint Telecom, Inc. was incorporated in July of 2005. Mr. Browne has over 15
years experience in the ICT sector. Prior to joining Flint, Mr. Browne founded
Prime Carrier Limited (PCL) in 2000 and was its CEO. PCL provides advanced Least
Cost Routing software and systems to international  telecom companies
across the globe. During his time as founding CEO at PCL, he raised over $18m in
various funding rounds and successfully negotiated several multi-million dollar
contracts with international customers. Prior to that, Mr. Browne held senior
management positions with Siemens in Ireland and with Esat BT. Mr. Browne holds
a BComm degree from University College Dublin.
Christopher Knight
, age
35
. Mr. Knight became the
Chief  Information Officer of Flint Telecom, Inc. in February of
2008.
Mr. Knight has over 15 years experience in
the telecom industry.  Prior to Flint, Mr. Knight was the Chief
Technology Officer at BroadStar, a triple play company with services in voice,
cable television and high speed Internet services that eventually merged into
PrimeCast, where he designed and rebuilt the technology
infrastructure.  Prior to that, he designed and deployed the first
city-wide wireless network in the Ft. Lauderdale area. During the mid to late
1990's, Mr. Knight was the Founder and CEO of Network Solutions Group, which
specialized in domain name resolution, web hosting and ISP
services.
Michael Butler
, age
53
. Mr. Butler became Flint
Telecom, Inc.'s Executive Vice President of Investor Relations in October of
2008. Prior to that, he was Flint's Finance Director since February of
2006.
Mr. Butler has over 30 years
experience in Accountancy and Insolvency practices in Ireland. Most recently as
Managing Partner with Butler & Co, which he built to become one of the
leading insolvency practices in Ireland. Mr. Butler is a prolific investor in
early stage technology and internet companies, most notably Coretime.com which
was sold to Sage, and Hostelworld.com, the World's leading hostel booking
engine. Mr. Butler has a BComm from University College Dublin and is a Member of
the Irish Institute of Credit Managers.
Pursuant to the terms of their employment: (i) Mr.
Browne will receive
salary in the amount of
$180,000
per year
,
which shall immediately increase to $240,000 when the
Company achieves sustainable profitability for one quarter,
and 2,500,000 shares of restricted commo
n stock as described above;
(ii) Mr. Knight will receive sal
ary in the amount of $240,000
per year
,
with a potential bonus of up to an
additional $240,000
based on Company performance, to be further defined
by Mr. Browne and approved by the Company's Board of Directors
,
and
2,660
,000 shares of
restricted common stock as described above
;
Mr. Knight will also receive a monthly allowance of $7,500 towards his
apartment rental;
and (iii) Mr. Butler will
receive salary in
the amount of $180,000
per year and 1,500,000 shares of restricted common stock as described
above
.  Each will be entitled to
participate in other employee benefit plans to the same extent provided to other
executive officers.
The foregoing description of the terms of employment
of Messrs. Browne, Knight and Butler are qualified in their entirety by
reference to the full text of Mr. Browne's Employment Agreement and Mr. Knight's
and Mr. Butler's offer letters, which are attached hereto as Exhibits 10.2, 10.3
and 10.4, respectively, and are incorporated herein by reference.
In addition and in connection with the closing, Semotus
assumed the following indebtedness owed by Flint:  (i) €
1,475,000 in convertible notes
owed
to Mr.
Butler; (ii) $8
75,000 in convertible notes
owed to Mr. Butler and his family members and affilites; and (iii) $238,972 in
indebtedness owed by Flint to Flint
Telecom, Ltd.
which
is controlled by Mr. Browne and Mr. Butler.
ITEM 5.03  AMENDMENTS TO ARTICLES OF
INCORPORATION OR BYLAWS; CHANGE IN FISCAL YEAR.
The information set forth in Item 2.01 above is
incorporated herein by reference.  As a result of the
closing
of the Flint
transaction
, and as approved by
our shareholders at the annual meeting
held September 17, 2008
, we have filed an amendment to our articles of
incorporation
increasing our total
authorized shares of common stock to 100,000,000 and
changing the name of the company to "
Flint Telecom Group,
Inc."
ITEM
9.  FINANCIAL STATEMENTS AND EXHIBITS.
(a)
Financial
Statements of Business
Acquired
. The required financial statements will be filed as soon as
practicable, but not later than 71 calendar days after the date by which this
report on Form 8-K must be filed.
(b)
Pro
Forma Financial
Information
.
The
required pro forma financial information will be filed as soon as practicable,
but not later than 71 calendar days after the date by which this report on Form
8-K must be filed.
(c)
Exhibits.
The
      following exhibits are filed with this
report:
Exhibit
      Number
--------------------
Description
---------------
2.1*
Contribution
      Agreement by and among Semotus Solutions, Inc., Flint Telecom, Inc. and
      Flint Telecom, Ltd. dated April 23, 2008.
3.1
Certificate
      of Amendment to Articles of Incorporation dated October September 30,
      2008.
3.2
Certificate
      of Amendment to Articles of Incorporation dated October 3,
      2008.
4.1
Form
      of Warrant to purchase shares of the Company's common stock at $0.50 per
      share.
4.2
Form
      of convertible promissory note to purchase shares of common
      stock.
10.1
Amended
      and Restated Employment Agreement by and among Flint Telecom Group, Inc.
      and Mr. Anthony LaPine dated October 1, 2008.
10.2
Employment
      Agreement by and among Flint Telecom Group, Inc. and Mr. Vincent Browne
      dated October 6, 2008.
10.3
Offer
      letter by and among Flint Telecom Group, Inc. and Michael Butler dated
      October 6, 2008.
10.4
Offer
      letter by and among Flint Telecom Group, Inc. and Christopher Knight dated
      October 6, 2008.
99.1
Press
      release of Semotus Solutions, Inc. dated October 7,
  2008.
*  Incorporated
by reference to Exhibit 2.1 of the Registrant's Form 8-K filed on April 29,
2008.
SIGNATURES
Pursuant
to the requirements of the Securities Act of 1934, the Registrant has duly
caused this Report to be signed on its behalf by the undersigned, hereunto duly
authorized.
FLINT
      TELECOM GROUP, INC.
By:
      /s/ Vincent Browne
Date:  October
      7, 2008
Vincent
      Browne,
Chief
      Executive Officer