UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 20549

                                    FORM 8-K

                                 CURRENT REPORT
   Pursuant to Section 13 OR 15(d) of the Securities and Exchange Act of 1934

           Date of Report (Date of earliest reported): August 30, 2006

                           EUROWEB INTERNATIONAL CORP.
               (Exact name of registrant as specified in charter)

             Delaware               001-12000                 13-3696015
  (State or other jurisdiction     (Commission               (IRS Employer
        of incorporation)          File Number)            Identification No.)

           468 North Camden Drive Suite 256(I) Beverly Hills, CA 90210
               (Address of principal executive offices) (Zip Code)

       Registrant's telephone number, including area code: (310) 860-5697

                                   Copies to:
                             Gregory Sichenzia, Esq.
                            Stephen M. Fleming, Esq.
                       Sichenzia Ross Friedman Ference LLP
                           1065 Avenue of the Americas
                            New York, New York 10018
                              Phone: (212) 930-9700
                               Fax: (212) 930-9725

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 Instructions 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))


<PAGE>


ITEM 1.01 ENTRY INTO MATERIAL DEFINITIVE AGREEMENTS

On August 30, 2006, Euroweb  International  Corp. (the "Company"),  entered into
the following two agreements:

      1.    A general purpose Joint Venture Agreement by and between the Company
            and Ashfield  Finance LLC, a Delaware  Corporation to form,  develop
            and  initially  fund EA Emerging  Ventures  Corp  ("EVC"),  a Nevada
            Corporation  which  is a  Joint  Venture  between  the  Company  and
            Ashfield  Finance LLC  ("Ashfield")  for the purpose of  identifying
            Electronic Design Automation ("EDA") and IT development projects and
            possible real estate  properties  related thereto and other business
            ventures and investments. EA Emerging Ventures Corp. is owned 50% by
            the  Company and 50% by  Ashfield.  The  Company  shall  provide the
            initial  funds for  implementation  of the business  purposes of the
            Joint  Venture and shall be entitled to a first  priority  return on
            any proceeds or income received by the Joint Venture. Ashfield shall
            provide  services  in the area of  business,  finance  and  taxation
            advice  and  has  entered  into  a  Consulting  Agreement  with  EVC
            regarding these services.  In consideration  for such services,  EVC
            shall  receive its 50%  interest as well as a payment of $10,000 per
            month.

      2.    Subsequently,  as the first transaction in connection with the Joint
            Venture  with  Ashfield  Finance as set forth in (1)  above,  a Term
            Sheet to be formally  documented in a Joint Venture  Agreement  with
            associated  exhibits,  License Agreement and Warrants by and between
            the Company and Dr. Danny Rittman in  connection  with the formation
            and joint venture and initial funding of Micrologic,  Inc., a Nevada
            corporation,  for the design and production of EDA  applications and
            Integrated  Circuit  ("IC")  design  processes;   specifically,  the
            development and production of the NanoToolBox(TM)  tools suite which
            shortens  the  time to  market  factor.  NanoToolBox(TM)  is a smart
            platform that is designed to accelerate  IC's design time and shrink
            time to market  factor.  IC design firms will have the capability to
            produce  more IC's in less  time.  The Term  Sheet  provides  for an
            initial investment by the Company of up to $1,000,000, with Warrants
            to purchase additional equity for additional investment.  Initially,
            the  Company  will own  25.1%  and Dr.  Rittman  will  own  74.9% of
            Micrologic,   Inc.  but  such  equity  positions  would  be  revised
            depending upon the exercise of the Warrants.  Micrologic,  Inc. will
            enter into a License  Agreement  with Dr. Danny Rittman which grants
            Micrologic,  Inc.  the  right  to  technology  invented,  owned  and
            registered by Dr. Rittman. Upon execution of the final Joint Venture
            Agreement of Micrologic, Inc. between the parties, a subsequent Form
            8K will be filed.


ITEM 9.01 FINANCIAL STATEMENT AND EXHIBITS

            10.1  Joint Venture  Agreement by and between  Ashfield  Finance LLC
                  and Euroweb International Corp.

            10.2  Consulting  Agreement by and between  Ashfield Finance LLC and
                  EA Emerging Ventures Corp
<PAGE>


                                   SIGNATURES

      Pursuant to the  requirements  of the  Securities  Exchange Act 1934,  the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned, thereunto duly authorized.

                                      EUROWEB INTERNATIONAL CORP.

                                      By: /s/ YOSSI ATTIA
                                          ------------------------------
                                      Name:  Yossi Attia
                                      Title: Chief Executive Officer
Date:  August 31, 2006
Beverly Hills, California
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UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 20549

                                    FORM 8-K

                                 CURRENT REPORT
   Pursuant to Section 13 OR 15(d) of the Securities and Exchange Act of 1934

           Date of Report (Date of earliest reported): August 30, 2006

                           EUROWEB INTERNATIONAL CORP.
               (Exact name of registrant as specified in charter)

             Delaware               001-12000                 13-3696015
  (State or other jurisdiction     (Commission               (IRS Employer
        of incorporation)          File Number)            Identification No.)

           468 North Camden Drive Suite 256(I) Beverly Hills, CA 90210
               (Address of principal executive offices) (Zip Code)

       Registrant's telephone number, including area code: (310) 860-5697

                                   Copies to:
                             Gregory Sichenzia, Esq.
                            Stephen M. Fleming, Esq.
                       Sichenzia Ross Friedman Ference LLP
                           1065 Avenue of the Americas
                            New York, New York 10018
                              Phone: (212) 930-9700
                               Fax: (212) 930-9725

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 Instructions 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 MATERIAL DEFINITIVE AGREEMENTS

On August 30, 2006, Euroweb  International  Corp. (the "Company"),  entered into
the following two agreements:

      1.    A general purpose Joint Venture Agreement by and between the Company
            and Ashfield  Finance LLC, a Delaware  Corporation to form,  develop
            and  initially  fund EA Emerging  Ventures  Corp  ("EVC"),  a Nevada
            Corporation  which  is a  Joint  Venture  between  the  Company  and
            Ashfield  Finance LLC  ("Ashfield")  for the purpose of  identifying
            Electronic Design Automation ("EDA") and IT development projects and
            possible real estate  properties  related thereto and other business
            ventures and investments. EA Emerging Ventures Corp. is owned 50% by
            the  Company and 50% by  Ashfield.  The  Company  shall  provide the
            initial  funds for  implementation  of the business  purposes of the
            Joint  Venture and shall be entitled to a first  priority  return on
            any proceeds or income received by the Joint Venture. Ashfield shall
            provide  services  in the area of  business,  finance  and  taxation
            advice  and  has  entered  into  a  Consulting  Agreement  with  EVC
            regarding these services.  In consideration  for such services,  EVC
            shall  receive its 50%  interest as well as a payment of $10,000 per
            month.

      2.    Subsequently,  as the first transaction in connection with the Joint
            Venture  with  Ashfield  Finance as set forth in (1)  above,  a Term
            Sheet to be formally  documented in a Joint Venture  Agreement  with
            associated  exhibits,  License Agreement and Warrants by and between
            the Company and Dr. Danny Rittman in  connection  with the formation
            and joint venture and initial funding of Micrologic,  Inc., a Nevada
            corporation,  for the design and production of EDA  applications and
            Integrated  Circuit  ("IC")  design  processes;   specifically,  the
            development and production of the NanoToolBox(TM)  tools suite which
            shortens  the  time to  market  factor.  NanoToolBox(TM)  is a smart
            platform that is designed to accelerate  IC's design time and shrink
            time to market  factor.  IC design firms will have the capability to
            produce  more IC's in less  time.  The Term  Sheet  provides  for an
            initial investment by the Company of up to $1,000,000, with Warrants
            to purchase additional equity for additional investment.  Initially,
            the  Company  will own  25.1%  and Dr.  Rittman  will  own  74.9% of
            Micrologic,   Inc.  but  such  equity  positions  would  be  revised
            depending upon the exercise of the Warrants.  Micrologic,  Inc. will
            enter into a License  Agreement  with Dr. Danny Rittman which grants
            Micrologic,  Inc.  the  right  to  technology  invented,  owned  and
            registered by Dr. Rittman. Upon execution of the final Joint Venture
            Agreement of Micrologic, Inc. between the parties, a subsequent Form
            8K will be filed.

ITEM 9.01 FINANCIAL STATEMENT AND EXHIBITS

            10.1  Joint Venture  Agreement by and between  Ashfield  Finance LLC
                  and Euroweb International Corp.

            10.2  Consulting  Agreement by and between  Ashfield Finance LLC and
                  EA Emerging Ventures Corp
SIGNATURES

      Pursuant to the  requirements  of the  Securities  Exchange Act 1934,  the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned, thereunto duly authorized.

                                      EUROWEB INTERNATIONAL CORP.

                                      By: /s/ YOSSI ATTIA
                                          ------------------------------
                                      Name:  Yossi Attia
                                      Title: Chief Executive Officer
Date:  August 31, 2006
Beverly Hills, California