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     <TD align=center width="100%" colSpan=3><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">SECURITIES AND EXCHANGE COMMISSION</FONT></B> </TD></TR>
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     <TD align=center width="100%" colSpan=3><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Washington, D.C. 20549</FONT></B> </TD></TR>
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     <TD align=center width="100%" colSpan=3><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">FORM 8-K</FONT></B> </TD></TR>
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     <TD align=center width="100%" background="" colSpan=3>&nbsp;</TD></TR>
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     <TD align=center width="100%" colSpan=3><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">CURRENT REPORT</FONT></B> </TD></TR>
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     <TD noWrap align=center width="100%" colSpan=3><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</FONT></B>&nbsp; </TD></TR>
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     <TD align=center width="100%" colSpan=3><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Date of report: June 26, 2007</FONT></B> </TD></TR>
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     <TD align=center width="100%" colSpan=3><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">(Date of earliest event reported)</FONT> </TD></TR>
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     <TD align=center width="100%" colSpan=3><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">eLEC COMMUNICATIONS CORP.</FONT></B> </TD></TR>
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     <TD align=center width="100%" colSpan=3><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">(Exact name of Registrant as specified in its charter)</FONT> </TD></TR>
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     <TD align=center width="98%" colSpan=3><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">New York</FONT></B> </TD></TR>
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     <TD align=center width="98%" colSpan=3><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">(State or other jurisdiction of incorporation)</FONT> </TD></TR>
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     <TD noWrap align=center width="48%"><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">0-4465</FONT></B></TD>
     <TD width="2%">&nbsp; </TD>
     <TD noWrap align=center width="48%"><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">13-2511270</FONT></B></TD></TR>
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     <TD noWrap align=center width="48%"><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">(Commission File No.)</FONT></TD>
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     <TD noWrap align=center width="48%"><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">(I.R.S. Employer</FONT></TD></TR>
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     <TD noWrap align=center width="48%"><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Identification No.)</FONT></TD></TR></TABLE><BR>
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     <TD align=center width="100%"><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">75 South Broadway, Suite 302</FONT></B> </TD></TR>
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     <TD align=center width="100%"><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">White Plains, New York 10601</FONT></B> </TD></TR>
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     <TD align=center width="100%"><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">(Address of principal executive offices; zip code)</FONT> </TD></TR>
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     <TD align=center width="100%"><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">(914) 682-0214</FONT></B> </TD></TR>
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     <TD noWrap align=center width="100%"><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">(Registrant&#146;s telephone number, including area code)</FONT>&nbsp; </TD></TR>
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     <TD align=center width="100%"><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">N/A</FONT></B> </TD></TR>
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     <TD noWrap align=center width="100%"><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">(Former Name or Former Address, if changed Since Last Report)</FONT>&nbsp; </TD></TR></TABLE><BR>
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     <TD noWrap align=left width="99%" colSpan=3>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the</FONT>&nbsp; </TD></TR>
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     <TD noWrap align=left width="99%" colSpan=3><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>filing obligation of the registrant under any of the following provisions (</FONT><I><FONT face="TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif" size=2>see </FONT></I><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>General Instruction A.2.</FONT>&nbsp; </TD></TR>
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     <TD noWrap align=left width="9%"><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>below):</FONT>&nbsp; </TD>
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     <TD noWrap align=left width="88%">&nbsp; </TD></TR>
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     <TD noWrap align=left width="9%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=Wingdings-Regular,WingDings size=2> <FONT face=Wingdings>&#168;</FONT></FONT>&nbsp; </TD>
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     <TD noWrap align=left width="88%">&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</FONT>&nbsp; </TD></TR>
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     <TD width="99%" colSpan=3>&nbsp; </TD></TR>
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     <TD noWrap align=left width="9%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=Wingdings-Regular,WingDings size=2> <FONT face=Wingdings>&#168;</FONT></FONT>&nbsp; </TD>
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     <TD noWrap align=left width="88%">&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT>&nbsp; </TD></TR>
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     <TD noWrap align=left width="9%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=Wingdings-Regular,WingDings size=2> <FONT face=Wingdings>&#168;</FONT></FONT>&nbsp; </TD>
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     <TD noWrap align=left width="88%">&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Pre-commencement communications pursuant to Rule 14-2(b) under the Exchange Act (17</FONT>&nbsp; </TD></TR>
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     <TD noWrap align=left width="9%">&nbsp; </TD>
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     <TD noWrap align=left width="88%">&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>CFR 240.14d-2(b))</FONT>&nbsp; </TD></TR>
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     <TD noWrap align=left width="9%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face=Wingdings-Regular,WingDings size=2> <FONT face=Wingdings>&#168;</FONT></FONT>&nbsp; </TD>
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     <TD noWrap align=left width="88%">&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Pre-commencement communications pursuant to Rule 13-4(e) under the Exchange Act (17</FONT>&nbsp; </TD></TR>
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     <TD noWrap align=left width="9%">&nbsp; </TD>
     <TD width="2%">&nbsp; </TD>
     <TD noWrap align=left width="88%"><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>CFR 240.13e-4(c))</FONT>&nbsp; </TD></TR></TABLE><BR>
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     <TD align=center width="99%" colSpan=3><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">SECTION 1 &#150; REGISTRANT&#146;S BUSINESS AND OPERATIONS</FONT></B> </TD></TR>
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     <TD noWrap align=left width="12%"><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Item 2.01.</FONT></B>&nbsp; </TD>
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     <TD noWrap align=left width="85%">&nbsp;<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Completion of Acquisition or Disposition of Assets.</FONT></B>&nbsp; </TD></TR>
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     <TD noWrap align=left width="85%">&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">As previously reported on December 14, 2006, the Company entered into</FONT>&nbsp; </TD></TR>
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     <TD noWrap align=left width="99%" colSpan=3><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">definitive purchase agreements (&#147;Agreements&#148;) to sell two wholly-owned subsidiaries that are</FONT>&nbsp; </TD></TR>
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     <TD noWrap align=left width="99%" colSpan=3><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">operating as Competitive Local Exchange Carriers (&#147;CLECs&#148;), New Rochelle Telephone Corp.</FONT>&nbsp; </TD></TR>
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     <TD noWrap align=left width="99%" colSpan=3><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">and Telecarrier Services, Inc., to CYBD Acquisition, Inc. and CYBD Acquisition II, Inc., two</FONT>&nbsp; </TD></TR>
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     <TD noWrap align=left width="99%" colSpan=3><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">wholly-owned subsidiaries of Cyber Digital, Inc. (&#147;Purchaser&#148;), a publicly traded company. The</FONT>&nbsp; </TD></TR>
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     <TD noWrap align=left width="99%" colSpan=3><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Company completed the sale of the CLECs on June 26, 2007, effective June 1, 2007.</FONT>&nbsp; </TD></TR>
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     <TD noWrap align=left width="12%"><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Item 3.02.</FONT></B>&nbsp; </TD>
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     <TD noWrap align=left width="85%">&nbsp;<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Unregistered Sales of Equity Securities.</FONT></B>&nbsp; </TD></TR>
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     <TD noWrap align=left width="99%" colSpan=3>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp; &nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">In conjunction with the disposition of assets set forth above under Item 2.01, the</FONT>&nbsp; </TD></TR>
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     <TD noWrap align=left width="99%" colSpan=3><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Company sold 808,000 shares of its common stock, par value $0.10 per share, (&#147;Common</FONT>&nbsp; </TD></TR>
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     <TD noWrap align=left width="99%" colSpan=3><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Stock&#148;) to Cyber Digital, Inc. for $275,000. The proceeds of the sale were used to retire the</FONT>&nbsp; </TD></TR>
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     <TD noWrap align=left width="99%" colSpan=3><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">unpaid balance of a February 2005 note due to Laurus Master Fund, Ltd. The shares were not</FONT>&nbsp; </TD></TR>
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     <TD noWrap align=left width="99%" colSpan=3><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">registered under the Securities Act of 1933, as amended, or any state securities laws due to</FONT>&nbsp; </TD></TR>
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     <TD noWrap align=left width="99%" colSpan=3><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">exemptions from registration under the Securities Act pursuant to Section 4(2). No underwriting</FONT>&nbsp; </TD></TR>
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     <TD noWrap align=left width="99%" colSpan=3><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">fees or commissions were paid by the Company in connection with such sale.</FONT>&nbsp; </TD></TR>
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     <TD align=center width="99%" colSpan=3><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">SECTION 8 &#150; OTHER EVENTS</FONT></B> </TD></TR>
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     <TD noWrap align=left width="12%"><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Item 8.01</FONT></B>&nbsp; </TD>
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     <TD noWrap align=left width="85%">&nbsp;<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Other Events.</FONT></B>&nbsp; </TD></TR>
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     <TD width="99%" colSpan=3>&nbsp; </TD></TR>
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     <TD noWrap align=left width="99%" colSpan=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">On June 26, 2007, the Company issued a press release announcing the sale of two of its</FONT>&nbsp; </TD></TR>
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     <TD noWrap align=left width="99%" colSpan=3><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">wholly owned subsidiaries, New Rochelle Telephones Corp. and Telecarrier Services, Inc. A</FONT>&nbsp; </TD></TR>
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     <TD noWrap align=left width="99%" colSpan=3><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">copy of the press release is attached hereto as Exhibit 99.1.</FONT>&nbsp; </TD></TR></TABLE><BR>
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     <TD align=center width="99%" colSpan=7><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">SECTION 9 &#150; FINANCIAL STATEMENT AND EXHIBITS</FONT></B>&nbsp; </TD></TR>
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     <TD noWrap align=left width="12%" colSpan=3><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Item 9.01</FONT></B>&nbsp; </TD>
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     <TD noWrap align=left width="85%" colSpan=3>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Financial Statements and Exhibits.</FONT></B>&nbsp; </TD></TR>
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     <TD align=left width="5%" background="">(b)</TD>
     <TD width="2%"></TD>
     <TD align=left width="92%" background="" colSpan=5>Pro Forma Financial Information</TD></TR>
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     <TD align=left width="92%" background="" colSpan=5>Pro forma financial information, if any, required by this item will be filed by amendment </TD></TR>
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     <TD align=left width="5%" background=""></TD>
     <TD width="2%" background=""></TD>
     <TD align=left width="92%" background="" colSpan=5>within the required time period from the date hereof.</TD></TR>
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     <TD noWrap align=left width="5%"><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">(c)</FONT>&nbsp; </TD>
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     <TD noWrap align=left width="16%" colSpan=3><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Exhibits.</FONT>&nbsp; </TD>
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     <TD noWrap align=left width="5%">&nbsp; </TD>
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     <TD noWrap align=left width="16%" colSpan=3><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Number</FONT></U>&nbsp; </TD>
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     <TD noWrap align=left width="74%"><U><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Documents</FONT></U>&nbsp; </TD></TR>
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     <TD align=left width="16%" colSpan=3>&nbsp; &nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">99.1</FONT>&nbsp; </TD>
     <TD width="2%">&nbsp; </TD>
     <TD noWrap align=left width="74%"><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Press release of eLEC Communications Corp. dated June 26, 2007.</FONT>&nbsp; </TD></TR></TABLE>
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     <TD align=center width="100%"><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">SIGNATURES</FONT></B> </TD></TR>
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     <TD width="100%">&nbsp; </TD></TR>
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     <TD noWrap align=left width="100%">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the</FONT>&nbsp; </TD></TR>
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     <TD noWrap align=left width="100%"><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly</FONT>&nbsp; </TD></TR>
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     <TD noWrap align=left width="100%"><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">authorized.</FONT>&nbsp; </TD></TR></TABLE><BR>
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     <TD noWrap align=left width="43%" colSpan=5><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">eLEC COMMUNICATIONS CORP.</FONT>&nbsp; </TD></TR>
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     <TD width="97%" colSpan=11>&nbsp; </TD></TR>
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     <TD width="97%" colSpan=11>&nbsp; </TD></TR>
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     <TD noWrap align=left width="5%"><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Date:</FONT>&nbsp; </TD>
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     <TD noWrap align=left width="26%"><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">July 2, 2007</FONT>&nbsp; </TD>
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     <TD noWrap align=left width="5%"><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">By:</FONT>&nbsp; </TD>
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     <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="26%">&nbsp; &nbsp; <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">/s/ Paul H. Riss</FONT>&nbsp; </TD>
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     <TD noWrap align=left width="8%" background="">&nbsp;</TD></TR>
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     <TD noWrap align=left width="5%">&nbsp; </TD>
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     <TD noWrap align=left width="36%" colSpan=3><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Paul H. Riss</FONT>&nbsp; </TD></TR>
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     <TD noWrap align=left width="5%">&nbsp; </TD>
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     <TD noWrap align=left width="26%">&nbsp; </TD>
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     <TD width="2%">&nbsp; </TD>
     <TD noWrap align=left width="36%" colSpan=3><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Chief Executive Officer</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="97%" colSpan=11>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD align=center width="97%" colSpan=11><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">2</FONT>&nbsp; &nbsp; &nbsp; </TD></TR></TABLE><BR>
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<TABLE cellSpacing=0 cellPadding=0 width=650 border=0>
<TR vAlign=bottom>
     <TD noWrap align=right width="100%"><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Exhibit 99.1</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="100%"><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>For Immediate Release</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="100%">&nbsp; </TD></TR>
<TR>
     <TD width="100%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD align=center width="100%"><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif" size=4>eLEC Sells Legacy CLEC Businesses to Focus on</FONT></B> </TD></TR>
<TR vAlign=bottom>
     <TD align=center width="100%"><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif" size=4>Opportunities with its Proprietary VoIP Solution</FONT></B> </TD></TR>
<TR>
     <TD width="100%">&nbsp; </TD></TR>
<TR>
     <TD width="100%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="100%"><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif" size=2>WHITE PLAINS, NY, June 26, 2007 </FONT></B><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>&#150; eLEC Communications Corp. (OTCBB: ELEC) today</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="100%"><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>announced that it has closed on the sale of its two CLEC subsidiaries, New Rochelle Telephone Corp.</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="100%"><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>and Telecarrier Services, Inc., to subsidiaries of Cyber Digital, Inc. By divesting itself of its legacy</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="100%"><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>public switched telephone network (PSTN) based assets, eLEC has transitioned itself to a pure Internet-</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="100%"><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>based calling provider via its wholly-owned subsidiary, VoX Communications Corp., which is located in</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="100%"><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Celebration, Florida.</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="100%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="100%"><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>Paul Riss, CEO of eLEC, stated, &#147;This divestiture transaction is significant to us in several ways. By</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="100%"><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>selling our CLEC subsidiaries, we are now only a facilities-based IP carrier, instead of a landline reseller,</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="100%"><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>and we now use exclusively our own IP technology, instead of renting someone else&#146;s technology. We</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="100%"><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>are pleased that we will be able to record a gain on the sale of the subsidiaries of approximately $1.5</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="100%"><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>million. In addition, as part of the transaction we sold 808,000 shares of our restricted stock at a price of</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="100%"><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>$0.34 per share to Cyber Digital in exchange for its assumption of an additional $275,000 in debt that we</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="100%"><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>were obligated to pay in full on February 8, 2008. By selling the subsidiaries and fully retiring a note</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="100%"><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>due in 2008, we have increased the equity section of our balance sheet by approximately $1.8 million.&#148;</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="100%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="100%"><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>VoX&#146;s President and CIO, Mark Richards, added, &#147;We are very pleased to announce this sale, which has</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="100%"><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>taken a long time to bring to fruition. This sale was always a significant step in our long-term strategic</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="100%"><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>plan, as we eagerly transition out of the legacy PSTN businesses into the new age of facilities-based Web</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="100%"><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>calling and IP services. We continue to be extremely confident in our strategic direction as VoX</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="100%"><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>continues to emerge as a viable technology solution that our wholesale customers can rely on. We also</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="100%"><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>are continuing to execute upon our strategic goal as a wholly-IP-based company by selling our own</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="100%"><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>products on our own technology, which furnish a global reach for our services. In addition, we are</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="100%"><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>continuing to attract large opportunities and have high expectations that we will be able to meet or</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="100%"><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>exceed our goals. We believe VoX will emerge as a leader and not a follower in the wholesale VoIP and</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="100%"><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>IP services market and we remain very confident in our mission.&#148;</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="100%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="100%"><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif" size=2>About VoX Communications Corp.</FONT></B>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="100%"><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2>VoX is a wholly-owned subsidiary of eLEC </FONT><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Communications Corp. (OTCBB:ELEC), which has</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="100%"><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">received approval to change its name to Pervasip Corp. VoX provides an integrated suite of IP-</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="100%"><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">based communications services and offers wholesale broadband voice, origination and</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="100%"><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">termination services for cable operators, carriers, ISPs, CLECs, resellers and other wireless and</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="100%"><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">wireline operators, as well as enhanced VoIP telephone service to the small business and</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="100%"><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">residential marketplace. For more information, visit www.voxcorp.net and www.pervasip.com.</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="100%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="100%"><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">This press release contains statements (such as projections regarding future performance) that are</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="100%"><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995.</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="100%"><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Actual results may differ materially from those projected as a result of certain risks and</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="100%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD align=center width="100%"><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">3</FONT> </TD></TR></TABLE><BR>
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<TABLE cellSpacing=0 cellPadding=0 width=650 border=0>
<TR vAlign=bottom>
     <TD noWrap align=left width="100%"><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">uncertainties, including but not limited to those detailed from time to time in the Company's</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="100%"><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">filings with the Securities and Exchange Commission.</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="100%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD align=center width="100%"><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif"># # #</FONT> </TD></TR>
<TR>
     <TD width="100%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="100%"><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">For more information, please contact:</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="100%">&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="100%"><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Paul Riss</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="100%"><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">eLEC Communications</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="100%"><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">914-682-0214</FONT>&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left width="100%"><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">phriss@elec.net</FONT>&nbsp; </TD></TR>
<TR>
     <TD width="100%">&nbsp;&nbsp; </TD></TR>
<TR vAlign=bottom>
     <TD align=center width="100%"><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">4</FONT> </TD></TR></TABLE><BR>
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kjune262007.htm -- Converted by SEC Publisher, created by BCL Technologies Inc., for SEC Filing
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: June 26, 2007
(Date of earliest event reported)
eLEC COMMUNICATIONS CORP.
(Exact name of Registrant as specified in its charter)
New York
(State or other jurisdiction of incorporation)
0-4465
13-2511270
(Commission File No.)
(I.R.S. Employer
Identification No.)
75 South Broadway, Suite 302
White Plains, New York 10601
(Address of principal executive offices; zip code)
(914) 682-0214
(Registrant's telephone number, including area code)
N/A
(Former Name or Former Address, if changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the
filing obligation of the registrant under any of the following provisions (
see
General Instruction A.2.
below):
¨
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨
Pre-commencement communications pursuant to Rule 14-2(b) under the Exchange Act (17
CFR 240.14d-2(b))
¨
Pre-commencement communications pursuant to Rule 13-4(e) under the Exchange Act (17
CFR 240.13e-4(c))
SECTION 1 – REGISTRANT'S BUSINESS AND OPERATIONS
Item 2.01.
Completion of Acquisition or Disposition of Assets.
As previously reported on December 14, 2006, the Company entered into
definitive purchase agreements ("Agreements") to sell two wholly-owned subsidiaries that are
operating as Competitive Local Exchange Carriers ("CLECs"), New Rochelle Telephone Corp.
and Telecarrier Services, Inc., to CYBD Acquisition, Inc. and CYBD Acquisition II, Inc., two
wholly-owned subsidiaries of Cyber Digital, Inc. ("Purchaser"), a publicly traded company. The
Company completed the sale of the CLECs on June 26, 2007, effective June 1, 2007.
Item 3.02.
Unregistered Sales of Equity Securities.
In conjunction with the disposition of assets set forth above under Item 2.01, the
Company sold 808,000 shares of its common stock, par value $0.10 per share, ("Common
Stock") to Cyber Digital, Inc. for $275,000. The proceeds of the sale were used to retire the
unpaid balance of a February 2005 note due to Laurus Master Fund, Ltd. The shares were not
registered under the Securities Act of 1933, as amended, or any state securities laws due to
exemptions from registration under the Securities Act pursuant to Section 4(2). No underwriting
fees or commissions were paid by the Company in connection with such sale.
SECTION 8 – OTHER EVENTS
Item 8.01
Other Events.
On June 26, 2007, the Company issued a press release announcing the sale of two of its
wholly owned subsidiaries, New Rochelle Telephones Corp. and Telecarrier Services, Inc. A
copy of the press release is attached hereto as Exhibit 99.1.
SECTION 9 – FINANCIAL STATEMENT AND EXHIBITS
Item 9.01
Financial Statements and Exhibits.
(b)
Pro Forma Financial Information
Pro forma financial information, if any, required by this item will be filed by amendment
within the required time period from the date hereof.
(c)
Exhibits.
Number
Documents
99.1
Press release of eLEC Communications Corp. dated June 26, 2007.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the
registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly
authorized.
eLEC COMMUNICATIONS CORP.
Date:
July 2, 2007
By:
/s/ Paul H. Riss
Paul H. Riss
Chief Executive Officer
2
Exhibit 99.1
For Immediate Release
eLEC Sells Legacy CLEC Businesses to Focus on
Opportunities with its Proprietary VoIP Solution
WHITE PLAINS, NY, June 26, 2007
– eLEC Communications Corp. (OTCBB: ELEC) today
announced that it has closed on the sale of its two CLEC subsidiaries, New Rochelle Telephone Corp.
and Telecarrier Services, Inc., to subsidiaries of Cyber Digital, Inc. By divesting itself of its legacy
public switched telephone network (PSTN) based assets, eLEC has transitioned itself to a pure Internet-
based calling provider via its wholly-owned subsidiary, VoX Communications Corp., which is located in
Celebration, Florida.
Paul Riss, CEO of eLEC, stated, "This divestiture transaction is significant to us in several ways. By
selling our CLEC subsidiaries, we are now only a facilities-based IP carrier, instead of a landline reseller,
and we now use exclusively our own IP technology, instead of renting someone else's technology. We
are pleased that we will be able to record a gain on the sale of the subsidiaries of approximately $1.5
million. In addition, as part of the transaction we sold 808,000 shares of our restricted stock at a price of
$0.34 per share to Cyber Digital in exchange for its assumption of an additional $275,000 in debt that we
were obligated to pay in full on February 8, 2008. By selling the subsidiaries and fully retiring a note
due in 2008, we have increased the equity section of our balance sheet by approximately $1.8 million."
VoX's President and CIO, Mark Richards, added, "We are very pleased to announce this sale, which has
taken a long time to bring to fruition. This sale was always a significant step in our long-term strategic
plan, as we eagerly transition out of the legacy PSTN businesses into the new age of facilities-based Web
calling and IP services. We continue to be extremely confident in our strategic direction as VoX
continues to emerge as a viable technology solution that our wholesale customers can rely on. We also
are continuing to execute upon our strategic goal as a wholly-IP-based company by selling our own
products on our own technology, which furnish a global reach for our services. In addition, we are
continuing to attract large opportunities and have high expectations that we will be able to meet or
exceed our goals. We believe VoX will emerge as a leader and not a follower in the wholesale VoIP and
IP services market and we remain very confident in our mission."
About VoX Communications Corp.
VoX is a wholly-owned subsidiary of eLEC
Communications Corp. (OTCBB:ELEC), which has
received approval to change its name to Pervasip Corp. VoX provides an integrated suite of IP-
based communications services and offers wholesale broadband voice, origination and
termination services for cable operators, carriers, ISPs, CLECs, resellers and other wireless and
wireline operators, as well as enhanced VoIP telephone service to the small business and
residential marketplace. For more information, visit www.voxcorp.net and www.pervasip.com.
This press release contains statements (such as projections regarding future performance) that are
forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995.
Actual results may differ materially from those projected as a result of certain risks and
3
uncertainties, including but not limited to those detailed from time to time in the Company's
filings with the Securities and Exchange Commission.
# # #
For more information, please contact:
Paul Riss
eLEC Communications
914-682-0214
phriss@elec.net
4