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<P style="margin:0pt; line-height:12.5pt; font-family:Times New Roman; font-size:10.5pt" align=center><B>UNITED STATES SECURITIES AND<BR>
EXCHANGE COMMISSION<BR>
Washington, D.C. 20549</B></P>
<P style="margin:0pt; line-height:12.5pt; font-family:Times New Roman; font-size:10.5pt" align=center><B>FORM 8-K</B></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:10.5pt" align=center><BR></P>
<P style="margin:0pt; line-height:12.5pt; font-family:Times New Roman; font-size:10.5pt" align=center><B>CURRENT REPORT</B></P>
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<P style="margin:0pt; line-height:12.5pt; font-family:Times New Roman; font-size:10.5pt" align=center><B>Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</B></P>
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<P style="margin:0pt; line-height:12.5pt; font-family:Times New Roman; font-size:10.5pt" align=center>Date of Report (Date of earliest event reported): <B>May 15, 2008 [April 22, 2008]</B></P>
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<P style="margin:0pt; line-height:12.5pt; font-family:Times New Roman; font-size:10.5pt" align=center><B>SUN WORLD PARTNERS, INC.</B></P>
<P style="margin:0pt; line-height:12.5pt; font-family:Times New Roman; font-size:10.5pt" align=center>(Exact name of registrant as specified in its charter)</P>
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<P style="margin:0pt; line-height:12.5pt; font-family:Times New Roman; font-size:10.5pt" align=center><B>Nevada</B></P>
<P style="margin:0pt; line-height:12.5pt; font-family:Times New Roman; font-size:10.5pt" align=center>(State or other jurisdiction</P>
<P style="margin:0pt; line-height:12.5pt; font-family:Times New Roman; font-size:10.5pt" align=center>of incorporation)</P>
</TD><TD valign=top width=18>&nbsp;</TD><TD valign=top width=150><P style="margin:0pt; line-height:7.2pt; font-family:Times New Roman; font-size:10.5pt" align=center><BR></P>
<P style="margin:0pt; line-height:12.5pt; font-family:Times New Roman; font-size:10.5pt" align=center><B>000-52365</B></P>
<P style="margin:0pt; line-height:12.5pt; font-family:Times New Roman; font-size:10.5pt" align=center>(Commission</P>
<P style="margin:0pt; line-height:12.5pt; font-family:Times New Roman; font-size:10.5pt" align=center>File Number)</P>
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<P style="margin:0pt; line-height:12.5pt; font-family:Times New Roman; font-size:10.5pt" align=center><B>20-4395271</B></P>
<P style="margin:0pt; line-height:12.5pt; font-family:Times New Roman; font-size:10.5pt" align=center>(IRS Employer</P>
<P style="margin:0pt; line-height:12.5pt; font-family:Times New Roman; font-size:10.5pt" align=center>Identifica&shy;tion No.)</P>
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<P style="margin:0pt; line-height:12.5pt; font-family:Times New Roman; font-size:10.5pt" align=center><B>1601-14 Street SW., Calgary, Alberta T3C 1E3</B></P>
<P style="margin:0pt; line-height:12.5pt; font-family:Times New Roman; font-size:10.5pt" align=center>(Address of principal executive offices) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Zip Code)</P>
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<P style="margin:0pt; line-height:12.5pt; font-family:Times New Roman; font-size:10.5pt" align=center><B>(403) 850-4120</B></P>
<P style="margin:0pt; line-height:12.5pt; font-family:Times New Roman; font-size:10.5pt" align=center>Registrant&#146;s telephone number, including area code</P>
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<P style="margin:0pt; line-height:12.5pt; font-family:Times New Roman; font-size:10.5pt" align=center><B>Not applicable</B></P>
<P style="margin:0pt; line-height:12.5pt; font-family:Times New Roman; font-size:10.5pt" align=center>&nbsp;(Former name or former address, if changed since last report)</P>
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<P style="margin:0pt; line-height:12.5pt; font-family:Times New Roman; font-size:10.5pt">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):<BR>
</P>
<P style="margin:0pt; line-height:12.5pt; font-family:Wingdings; font-size:10.5pt">&#168;<FONT FACE="Times New Roman"> Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<BR>
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<P style="margin:0pt; line-height:12.5pt; font-family:Wingdings; font-size:10.5pt">&#168;<FONT FACE="Times New Roman"> Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<BR>
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<P style="margin:0pt; line-height:12.5pt; font-family:Wingdings; font-size:10.5pt">&#168;<FONT FACE="Times New Roman"> Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</FONT></P>
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<P style="margin:0pt; padding-left:18pt; text-indent:-18pt; line-height:12.5pt; font-family:Wingdings; font-size:10.5pt">&#168;<FONT FACE="Times New Roman"> Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</FONT></P>
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<P style="page-break-before:always; margin:0pt; line-height:12.5pt; font-family:Times New Roman; font-size:10.5pt" align=justify><B><U>ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT</U></B></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:10.5pt" align=justify><BR></P>
<P style="margin:0pt; line-height:12.5pt; font-family:Times New Roman; font-size:10.5pt" align=justify>On May 15, 2008, Sun World Partners Inc. (&#147;we&#148;, &#147;us&#148;, &#147;our&#148; or &#147;Sun World&#148;) finalized the execution of an acquisition agreement dated April 22, 2008 (the &#147;Acquisition Agreement&#148;) between Sun World, H Pay Card Inc.(&#147;H Pay&#148;), Tiempo de Mexico Ltd. (&#147;Tiempo&#148;), Kimberley Coonfer (&#147;Coonfer&#148;), Caribbean Overseas Investments Ltd. (&#147;Caribbean&#148;) and the stockholders of H Pay (the &#147;H Pay Stockholders&#148;). &nbsp;Under the terms of the Acquisition Agreement, we agreed to acquire all of the issued and outstanding shares of H Pay resulting in H Pay,becoming a direct, wholly-owned subsidiary of Sun World. &nbsp;Upon the acquisition of H Pay by Sun World, we agreed to issue to the shareholders of H Pay an aggregate of 12,000,000 shares of the common stock of Sun World. &nbsp;Addition terms under the Acquisition Agreement provide for all of the issued and outstanding shares of our subsidiary, Tiempo (the &#147;Tiempo Shares&#148;) to be transferred to Coonfer and Caribbean in exchange for the &nbsp;return to treasury of a total of 5,000,000 common shares of Sun World (the &#147;Cancellation Shares&#148;). &nbsp;On the closing date, the Cancellation Shares shall be exchanged for the Tiempo Shares and $100,000 of the inter-company debt between Tiempo and Sun World shall be written off on the books of Tiempo and Sun World, and Tiempo shall provide a promissory note for the remaining intercompany debt between Tiempo and Sun World.</P>
<A NAME="page_3"></A><P style="margin:0pt; font-family:Times New Roman; font-size:10.5pt" align=justify><BR></P>
<P style="margin:0pt; line-height:12.5pt; font-family:Times New Roman; font-size:10.5pt" align=justify>Closing of the Acquisition Agreement was scheduled for April 30, 2008, or any other dated that the Parties agreed to in writing (the &#147;Closing Date&#148;). &nbsp;The closing of this transaction has not been completed and we anticipate the closing will take place on or prior to May 31, 2008. &nbsp;The Acquisition Agreement is subject to, among other things, the following terms and conditions:</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:10.5pt" align=justify><BR></P>
<P style="margin-top:0pt; margin-bottom:-12.5pt; text-indent:36pt; line-height:12.5pt; font-family:Times New Roman; font-size:10.5pt" align=justify>(a)</P>
<P style="margin:0pt; text-indent:72pt; line-height:12.5pt; font-family:Times New Roman; font-size:10.5pt" align=justify>The satisfactory completion of due diligence investigations by both parties.</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:10.5pt" align=justify><BR></P>
<P style="margin-top:0pt; margin-bottom:-12.5pt; text-indent:36pt; line-height:12.5pt; font-family:Times New Roman; font-size:10.5pt" align=justify>(b)</P>
<P style="margin:0pt; text-indent:72pt; line-height:12.5pt; font-family:Times New Roman; font-size:10.5pt" align=justify>Delivery of audited financials of H Pay required pursuant to applicable securities laws.</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:10.5pt" align=justify><BR></P>
<P style="margin:0pt; line-height:12.5pt; font-family:Times New Roman; font-size:10.5pt" align=justify>Following completion of all of the above conditions on the Closing Date: (i) the Cancellation Shares of Sun World will be exchanged for all of the issued and outstanding shares of Tiempo and the Cancellation Shares will be returned to the treasury of Sun World and the Tiempo shares will be delivered to Coonfer and Caribbean; (ii) &nbsp;Tiempo will no longer be a subsidiary of Sun World and $100,000 of intercompany debt shall be written off on the books of both Tiempo and Sun World with any remaining debt to be secured by a promissory note from Tiempo to Sun World; (iii) &nbsp;H Pay will be acquired by Sun World and Sun World will be the sole shareholder of H Pay; and (iv) H Pay Stockholders will receive an aggregate of 12,000,000 shares of Sun World&#146;s common stock representing 78.7% of the issued and outstanding shares of the Company. &nbsp;The closing of this transaction will effect a change in control of Sun World.</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:10.5pt" align=justify><BR></P>
<P style="margin:0pt; line-height:12.5pt; font-family:Times New Roman; font-size:10.5pt" align=justify>Following the completion of the acquisition of H Pay, we will be engaged in the business of the development, distribution, marketing and sale of health payment processing products and services.</P>
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<P style="margin:0pt; line-height:12.5pt; font-family:Times New Roman; font-size:10.5pt" align=justify><B><U>ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS</U></B></P>
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<P style="margin:0pt; line-height:12.5pt; font-family:Times New Roman; font-size:10.5pt"><B>(d) Exhibits</B></P>
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<P style="margin:0pt; line-height:12.5pt; font-family:Times New Roman; font-size:10.5pt">Copies of the following documents are included as exhibits to this current report pursuant to Item 601 of Regulation S-K:</P>
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<TABLE cellspacing=0><TR><TD valign=top width=120><P style="margin-top:5.25pt; margin-bottom:2.65pt; line-height:12.5pt; font-family:Times New Roman; font-size:10.5pt"><B>Exhibit<BR>
Number</B></P>
</TD><TD valign=top width=330><P style="margin-top:5.25pt; margin-bottom:2.65pt; line-height:12.5pt; font-family:Times New Roman; font-size:10.5pt"><B>Description</B></P>
</TD><TD valign=top width=186>&nbsp;</TD></TR>
<TR><TD valign=top width=120><P style="margin:0pt; line-height:12.5pt; font-family:Times New Roman; font-size:10.5pt">10.1</P>
</TD><TD valign=top width=330><P style="margin:0pt; line-height:12.5pt; font-family:Times New Roman; font-size:10.5pt">Acquisition Agreement</P>
</TD><TD valign=top width=186><P style="margin:0pt; line-height:12.5pt; font-family:Times New Roman; font-size:10.5pt">Filed herewith.</P>
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<P style="margin:0pt; font-family:Times New Roman" align=center>2</P>
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<P style="page-break-before:always; margin:0pt; line-height:12.5pt; font-family:Times New Roman; font-size:10.5pt" align=center><B>SIGNATURES</B></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:10.5pt" align=justify><BR></P>
<P style="margin:0pt; line-height:12.5pt; font-family:Times New Roman; font-size:10.5pt" align=justify>Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:10.5pt" align=justify><BR></P>
<TABLE cellspacing=0><TR><TD valign=top width=343.2>&nbsp;</TD><TD valign=top width=294><P style="margin:0pt; line-height:12.5pt; font-family:Times New Roman; font-size:10.5pt"><B>SUN WORLD PARTNERS INC.</B></P>
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<P style="margin:0pt; line-height:12.5pt; font-family:Times New Roman; font-size:10.5pt">May 15, 2008</P>
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<P style="margin:0pt; line-height:12.5pt; font-family:Times New Roman; font-size:10.5pt">By: <U>/s/ Tom Zapatinas</U></P>
<P style="margin:0pt; line-height:12.5pt; font-family:Times New Roman; font-size:10.5pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tom Zapatinas</P>
<P style="margin:0pt; line-height:12.5pt; font-family:Times New Roman; font-size:10.5pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;President and Director</P>
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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):
May 15, 2008 [April 22, 2008]
SUN WORLD PARTNERS, INC.
(Exact name of registrant as specified in its charter)
Nevada
(State or other jurisdiction
of incorporation)
000-52365
(Commission
File Number)
20-4395271
(IRS Employer
Identifica­tion No.)
1601-14 Street SW., Calgary, Alberta T3C 1E3
(Address of principal executive offices)               (Zip Code)
(403) 850-4120
Registrant's telephone number, including area code
Not applicable
(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 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 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT
On May 15, 2008, Sun World Partners Inc. ("we", "us", "our" or "Sun World") finalized the execution of an acquisition agreement dated April 22, 2008 (the "Acquisition Agreement") between Sun World, H Pay Card Inc.("H Pay"), Tiempo de Mexico Ltd. ("Tiempo"), Kimberley Coonfer ("Coonfer"), Caribbean Overseas Investments Ltd. ("Caribbean") and the stockholders of H Pay (the "H Pay Stockholders").  Under the terms of the Acquisition Agreement, we agreed to acquire all of the issued and outstanding shares of H Pay resulting in H Pay,becoming a direct, wholly-owned subsidiary of Sun World.  Upon the acquisition of H Pay by Sun World, we agreed to issue to the shareholders of H Pay an aggregate of 12,000,000 shares of the common stock of Sun World.  Addition terms under the Acquisition Agreement provide for all of the issued and outstanding shares of our subsidiary, Tiempo (the "Tiempo Shares") to be transferred to Coonfer and Caribbean in exchange for the  return to treasury of a total of 5,000,000 common shares of Sun World (the "Cancellation Shares").  On the closing date, the Cancellation Shares shall be exchanged for the Tiempo Shares and $100,000 of the inter-company debt between Tiempo and Sun World shall be written off on the books of Tiempo and Sun World, and Tiempo shall provide a promissory note for the remaining intercompany debt between Tiempo and Sun World.
Closing of the Acquisition Agreement was scheduled for April 30, 2008, or any other dated that the Parties agreed to in writing (the "Closing Date").  The closing of this transaction has not been completed and we anticipate the closing will take place on or prior to May 31, 2008.  The Acquisition Agreement is subject to, among other things, the following terms and conditions:
(a)
The satisfactory completion of due diligence investigations by both parties.
(b)
Delivery of audited financials of H Pay required pursuant to applicable securities laws.
Following completion of all of the above conditions on the Closing Date: (i) the Cancellation Shares of Sun World will be exchanged for all of the issued and outstanding shares of Tiempo and the Cancellation Shares will be returned to the treasury of Sun World and the Tiempo shares will be delivered to Coonfer and Caribbean; (ii)  Tiempo will no longer be a subsidiary of Sun World and $100,000 of intercompany debt shall be written off on the books of both Tiempo and Sun World with any remaining debt to be secured by a promissory note from Tiempo to Sun World; (iii)  H Pay will be acquired by Sun World and Sun World will be the sole shareholder of H Pay; and (iv) H Pay Stockholders will receive an aggregate of 12,000,000 shares of Sun World's common stock representing 78.7% of the issued and outstanding shares of the Company.  The closing of this transaction will effect a change in control of Sun World.
Following the completion of the acquisition of H Pay, we will be engaged in the business of the development, distribution, marketing and sale of health payment processing products and services.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
(d) Exhibits
Copies of the following documents are included as exhibits to this current report pursuant to Item 601 of Regulation S-K:
Exhibit
Number
Description
10.1
Acquisition Agreement
Filed herewith.
2
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
SUN WORLD PARTNERS INC.
May 15, 2008
By:
/s/ Tom Zapatinas
Tom Zapatinas
President and Director
3