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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>SECURITIES
        AND EXCHANGE COMMISSION</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>WASHINGTON,
        DC 20549</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 18pt; FONT-FAMILY: Times New Roman"><strong>FORM
        8-K</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>CURRENT
        REPORT</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>PURSUANT
        TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF
        1934</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>DATE
        OF REPORT (DATE OF EARLIEST EVENT REPORTED): June 16, 2005</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 24pt; FONT-FAMILY: Times New Roman"><strong>friendlyway
        Corporation</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>(NAME
        OF REGISTRANT AS SPECIFIED IN ITS CHARTER)</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong><u>Nevada</u></strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>(STATE
        OR OTHER JURISDICTION OF</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>INCORPORATION
        OR ORGANIZATION)</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%">

            <tr>
              <td align="left" valign="bottom" width="40%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="4%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="40%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
            </tr>
            <tr>
              <td valign="top" width="40%" style="BORDER-BOTTOM: medium none">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong><u>0-20317</u></strong></font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>COMMISSION
                  FILE NUMBER</strong></font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong><u>1255
                  Battery Street, Suite 200, San Francisco, California</u></strong></font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>(ADDRESS
                  OF PRINCIPAL EXECUTIVE OFFICES)</strong></font></div>
              </td>
              <td align="left" valign="bottom" width="4%" style="BORDER-BOTTOM: medium none">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td valign="top" width="40%" style="BORDER-BOTTOM: medium none">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong><u>88-0270266</u></strong></font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>(I.R.S.
                  EMPLOYER</strong></font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>IDENTIFICATION
                  NUMBER)</strong></font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong><u>94111</u></strong></font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>(ZIP
                  CODE)</strong></font></div>
              </td>
            </tr>

        </table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>ISSUER&#8217;S
        TELEPHONE NUMBER:</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong><u>
        (415) 288-3333</u></strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>(FORMER
        NAME OR FORMER ADDRESS, IF CHANGED SINCE LAST REPORT)</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div><br>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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          <div style="WIDTH: 100%; TEXT-ALIGN: center">&#160;</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">&#160;</div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Item
        1.01
</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Entry
        into a Material Definitive Agreement.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Effective
        as of June 16, 2005, the Registrant entered into that certain Assignment
        and
        Assumption Agreement (the &#8220;Assignment&#8221;) with friendlyway Technologies, Inc.
        (&#8220;FTI&#8221;), its wholly-owned subsidiary, pursuant to which FTI assigned and
        transferred to the Registrant, FTI&#8217;s rights, duties, liabilities, and
        obligations under the following promissory notes: (a) Unsecured Convertible
        Promissory Note held by Stephen R. Simpkin dated effective August 16, 2004
        in
        the principal amount of $18,000 (the &#8220;Simpkin Note&#8221;); (b) Unsecured Convertible
        Promissory Note held by Karl-Heinz Johannsmeier dated effective October 4,
        2004
        in the principal amount of $180,000 (the &#8220;Johannsmeier Note&#8221;); (c) Unsecured
        Convertible Promissory Note held by Henry Lo dated effective September 13,
        2004
        in the principal amount of $18,000; and (d) Unsecured Convertible Promissory
        Note held by Henry Lo dated effective October 15, 2004 in the principal amount
        of $15,000 (the latter two notes referred to herein as the &#8220;Lo
        Notes&#8221;).</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Effective
        as of June 16, 2005, the Registrant and the holders of the Simpkin Note,
        Johannsmeier Note, and the Lo Notes (the &#8220;FTI Notes&#8221;), entered into certain
        subscription agreements pursuant to which each holder agreed to cancel and
        subscribe the outstanding principal and accrued interest under their respective
        promissory notes, in consideration for the issuance of shares of the
        Registrant&#8217;s common stock as more particularly described in Item 3.02 below.
</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>[Effective
        as of June 16, 2005, the Registrant and friendlyway AG (&#8220;FWAG&#8221;) entered into a
        certain subscription agreement pursuant to which FWAG agreed to cancel and
        subscribe the outstanding principal and accrued interest under the following
        promissory notes in consideration for the issuance of shares of the Registrant&#8217;s
        commons stock as more particularly described in Item 3.02 below: (a) Unsecured
        Promissory Note dated effective March 1, 2005 in the principal amount of
        $150,000; (b) Unsecured Promissory Note dated effective March 31, 2005 in
        the
        principal amount of $100,000; (c) Unsecured Promissory Note dated effective
        April 11, 2005 in the principal amount of $200,000; and (d) Unsecured Promissory
        Note dated effective April 26, 2005 in the principal amount of $100,000
        (collectively, the &#8220;AG Notes&#8221;).]</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Effective
        as of June 16, 2005, the Registrant&#8217;s Board of Directors approved the following
        key compensation terms for Dr. Michael Urban in connection with his serving
        as
        the Registrant&#8217;s President/CEO: (a) Issuance of 125,000 shares of common stock
        per year payable each calendar quarter on September 15, December 15, March
        15,
        and June 15; </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>provided</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">,
        </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>however</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">,
        in the
        event Dr. Urban&#8217;s tenure is shorter than one calendar year, issuance of the
        subject shares will be adjusted on a pro rata basis; (b) performance bonus
        as
        follows: (i) 200,000 shares of common stock issuable contingent upon the
        occurrence of certain other events and (ii) 300,000 shares of common stock
        issuable upon the closing of an equity or debt financing resulting in proceeds
        to Registrant of not less than $3,000,000; and (c) an annual performance
        review.
        Registrant and Dr. Urban will enter into an executive employment agreement
        reflecting the foregoing terms and other customary terms for an executive
        employment between a public company and its principal officer.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Effective
        as of June 16, 2005, the Registrant&#8217;s Board of Directors approved the following
        compensation terms for Thomas Fessler in connection with his serving as a
        member
        of the Registrant&#8217;s Board of Directors: (a) issuance of 10,000 shares of common
        stock per calendar year payable each calendar quarter on September 15, December
        15, March 15, and June 15; (b) $2,500 for each Board of Directors meeting
        attended; and (c) an annual performance review. Registrant and Mr. Fessler
        will
        enter into a director compensation agreement reflecting the foregoing terms
        and
        other customary terms for an agreement between a public company and a member
        of
        its Board.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
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          <div style="WIDTH: 100%; TEXT-ALIGN: center">&#160;</div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Item
        1.02</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Termination
        of Material Definitive Agreement.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Effective
        as of June 16, 2005, the Registrant and the holders of the FTI Notes, entered
        into certain subscription agreements pursuant to which each holder agreed
        to
        cancel and subscribe the outstanding principal and accrued interest under
        their
        respective promissory notes, in consideration for the issuance of shares
        of the
        Registrant&#8217;s common stock. The holders of the Johannsmeier Note and the Lo Notes
        are stockholders of the Registrant.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>[Effective
        as of June 16, 2005, the Registrant and FWAG entered into a certain subscription
        agreement pursuant to which FWAG agreed to cancel and subscribe the outstanding
        principal and accrued interest under the AG Notes in consideration for the
        issuance of shares of the Registrant&#8217;s commons stock. FWAG is a stockholder of
        the Registrant.]</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Item
        2.03</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Creation
        of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet
        Arrangement of a Registrant.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">As
        more
        particularly described in Items 1.01 above, effective as of June 16, 2005,
        the
        Registrant entered into the Assignment with FTI pursuant to which FTI assigned
        and transferred to the Registrant, FTI&#8217;s rights, duties, liabilities, and
        obligations under the FTI Notes. As described in Item 1.02 above, however,
        effective as of June 16, 2005, the Registrant and the holders of the FTI
        Notes
        entered into certain subscription agreements pursuant to which each holder
        agreed to cancel and subscribe the outstanding principal and accrued interest
        under their respective promissory notes, in consideration for the issuance
        of
        shares of the Registrant&#8217;s common stock. </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Item
        3.02
</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Unregistered
        Sales of Equity Securities. </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant
        to certain subscription agreements dated effective as of June 16, 2005 entered
        into by and between the Registrant and the holders of the Simpkin Note,
        Johannsmeier Note and the Lo Notes, (a) the Simpkin Note was cancelled and
        the
        holder subscribed the outstanding principal and accrued interest thereunder
        in
        consideration for the Registrant&#8217;s issuance of 1,000,000 shares of common stock;
        (b) the Johannsmeier Note was cancelled and the holder subscribed the
        outstanding principal and accrued interest thereunder in consideration for
        the
        Registrant&#8217;s issuance of 100,000 shares of common stock; and (c) the Lo Notes
        were cancelled and the holder subscribed the outstanding principal and accrued
        interest thereunder in consideration for the Registrant&#8217;s issuance of 183,333
        shares of common stock.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>[Pursuant
        to the subscription agreement dated effective as of June 16, 2005 entered
        into
        by and between the Registrant and FWAG, the AG Notes were cancelled and FWAG
        subscribed the outstanding principal and accrued interest thereunder in
        consideration for the Registrant&#8217;s issuance of 2,419,384 shares of common
        stock.]</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">With
        respect to each of the issuances described in the foregoing paragraphs in
        this
        Item 3.02, exemption from registration requirements is claimed under the
        Securities Act of 1933, as amended (the &#8220;Securities Act&#8221;) in reliance on Section
        4(2) of the Securities Act or Regulation D promulgated thereunder. The
        purchasers represented their intention to acquire the Registrant&#8217;s shares for
        investment only and not with a view to, or for sale in connection with, any
        distribution thereof and appropriate legends were affixed to the certificates
        evidencing the shares in such transaction. The purchasers had acquired access
        to
        information about the Registrant.</font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Item
        5.02
</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Departure
        of Directors or Principal Officers; Election of Directors; Appointment of
        Principal Officers.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Effective
        as of June 16, 2005, the Registrant&#8217;s Board of Directors appointed the following
        new principal officers to serve until the next annual meeting of the Board
        of
        Directors and until their successors are appointed: (a) President/CEO - Dr.
        Michael Urban, and (b) Secretary - Henry Lo. In addition, effective as of
        June
        16, 2005, the following individuals have departed from their respective
        principal officer positions: (y) President/CEO - Alexander von Welczeck,
        and (z)
        Secretary - Desiree L. Pierson. </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(a)
        </font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Dr.
        Michael Urban. Mr. Urban has been a private investor since 1999. From 1990-1998,
        Dr. Urban served as the President and CEO of Urban &amp; Schwarzenberg,
        publishers of medical books and journals. On April 18, 2005, Registrant entered
        into a Stock Purchase Agreement with Dr. Urban (the &#8220;Agreement&#8221;), pursuant to
        which Registrant issued 450,000 shares (the &#8220;Shares&#8221;) of its Common Stock, par
        value $0.001, for a purchase price of $0.23 per share (&#8220;Purchase Price&#8221;) and
        received gross proceeds of $103,500. Effective as of June 16, 2005, the
        Registrant&#8217;s Board of Directors approved the following key compensation terms
        for Dr. Urban in connection with his serving as the Registrant&#8217;s President/CEO:
        (a) Issuance of 125,000 shares of common stock per year payable each calendar
        quarter on September 15, December 15, March 15, and June 15; </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>provided</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">,
        </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>however</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">,
        in the
        event Dr. Urban&#8217;s tenure is shorter than one calendar year, issuance of the
        subject shares will be adjusted on a pro rata basis; (b) performance bonus
        as
        follows: (i) 200,000 shares of common stock issuable contingent upon the
        occurrence of certain other events and (ii) 300,000 shares of common stock
        issuable upon the closing of an equity or debt financing resulting in proceeds
        to Registrant of not less than $3,000,000; and (c) annual performance review.
        Registrant and Dr. Urban will enter into an executive employment agreement
        reflecting the foregoing terms and other customary terms for an executive
        employment between a public company and its principal officer.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(b)
        </font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Henry
        Lo.
        Since April of 2004, Mr. Lo has been the Chief Financial Officer and V.P.
        of
        Finance and Administration of FTI. Since December of 2004, Mr. Lo has been
        the
        Chief Financial Officer of the Registrant. Prior to joining FTI and Registrant,
        Mr. Lo was the founder and Chief Financial Officer of Planet-Intra Software
        since its inception in 2000. Additionally, Mr. Lo is a Certified Public
        Accountant. There is currently no employment agreement between the Registrant
        and Mr. Lo.</font></div>
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        <div id="FTR">&#160;</div>
        <div>
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        </div>
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          <div style="WIDTH: 100%; TEXT-ALIGN: center">&#160;</div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
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          </div>
        </div>
        <div id="HDR">
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        </div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>SIGNATURE</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant
        to the requirements of the Securities Exchange Act of 1934, Registrant has
        duly
        caused this Report to be signed on its behalf by the undersigned, thereunto
        duly
        authorized.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date:
        June 24, 2005</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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        <table align="center" bgcolor="#ffffff" border="0" cellpadding="0" cellspacing="0" width="100%">

            <tr valign="top" bgcolor="#ffffff">
              <td width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
              <td width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
              <td width="49%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
            </tr>
            <tr valign="top" bgcolor="#ffffff">
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
              <td colspan="2"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">friendlyway
                Corporation</font></td>
            </tr>
            <tr valign="top" bgcolor="#ffffff">
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;<br>&#160;</font></td>
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;<br>&#160;</font></td>
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;<br>&#160;</font></td>
            </tr>
            <tr valign="top" bgcolor="#ffffff">
              <td>&#160;</td>
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">By:&#160;&#160;</font></td>
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">/s/&#160;
                Michael Urban</font></td>
            </tr>
            <tr valign="top" bgcolor="#ffffff">
              <td colspan="2"><font style="FONT-FAMILY: Times New Roman" size="1">&#160;</font></td>
              <td align="left">
                <hr style="COLOR: #000000" align="left" noshade size="2" width="80%"><font size="2">Dr.
                Michael Urban</font></td>
            </tr>
            <tr valign="top" bgcolor="#ffffff">
              <td colspan="2"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
              <td>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">President/Chief
                  Executive
                  Officer</font></div>
              </td>
            </tr>

        </table>
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{"company-data": {"conformed-name": "BIOFARM INC", "cik": "0000888702", "assigned-sic": "9995", "irs-number": "880270266", "state-of-incorporation": "NV", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-20317", "film-number": "05922283"}, "business-address": {"street1": "1244 MAIN STREET", "city": "LINFIELD", "state": "PA", "zip": "19498", "phone": "6104958413"}, "mail-address": {"street1": "1244 MAIN STREET", "city": "LINFIELD", "state": "PA", "zip": "19468"}, "former-company": {"former-conformed-name": "GLOBAL SPILL MANAGEMENT INC /NV/", "date-changed": "19930328"}}
Unassociated Document
SECURITIES
        AND EXCHANGE COMMISSION
WASHINGTON,
        DC 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): June 16, 2005
friendlyway
        Corporation
(NAME
        OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
Nevada
(STATE
        OR OTHER JURISDICTION OF
INCORPORATION
        OR ORGANIZATION)
0-20317
COMMISSION
                  FILE NUMBER
1255
                  Battery Street, Suite 200, San Francisco, California
(ADDRESS
                  OF PRINCIPAL EXECUTIVE OFFICES)
88-0270266
(I.R.S.
                  EMPLOYER
IDENTIFICATION
                  NUMBER)
94111
(ZIP
                  CODE)
ISSUER'S
        TELEPHONE NUMBER:
(415) 288-3333
(FORMER
        NAME OR FORMER ADDRESS, IF CHANGED SINCE LAST REPORT)
Item
        1.01
Entry
        into a Material Definitive Agreement.
Effective
        as of June 16, 2005, the Registrant entered into that certain Assignment
        and
        Assumption Agreement (the "Assignment") with friendlyway Technologies, Inc.
        ("FTI"), its wholly-owned subsidiary, pursuant to which FTI assigned and
        transferred to the Registrant, FTI's rights, duties, liabilities, and
        obligations under the following promissory notes: (a) Unsecured Convertible
        Promissory Note held by Stephen R. Simpkin dated effective August 16, 2004
        in
        the principal amount of $18,000 (the "Simpkin Note"); (b) Unsecured Convertible
        Promissory Note held by Karl-Heinz Johannsmeier dated effective October 4,
        2004
        in the principal amount of $180,000 (the "Johannsmeier Note"); (c) Unsecured
        Convertible Promissory Note held by Henry Lo dated effective September 13,
        2004
        in the principal amount of $18,000; and (d) Unsecured Convertible Promissory
        Note held by Henry Lo dated effective October 15, 2004 in the principal amount
        of $15,000 (the latter two notes referred to herein as the "Lo
        Notes").
Effective
        as of June 16, 2005, the Registrant and the holders of the Simpkin Note,
        Johannsmeier Note, and the Lo Notes (the "FTI Notes"), entered into certain
        subscription agreements pursuant to which each holder agreed to cancel and
        subscribe the outstanding principal and accrued interest under their respective
        promissory notes, in consideration for the issuance of shares of the
        Registrant's common stock as more particularly described in Item 3.02 below.
[Effective
        as of June 16, 2005, the Registrant and friendlyway AG ("FWAG") entered into a
        certain subscription agreement pursuant to which FWAG agreed to cancel and
        subscribe the outstanding principal and accrued interest under the following
        promissory notes in consideration for the issuance of shares of the Registrant's
        commons stock as more particularly described in Item 3.02 below: (a) Unsecured
        Promissory Note dated effective March 1, 2005 in the principal amount of
        $150,000; (b) Unsecured Promissory Note dated effective March 31, 2005 in
        the
        principal amount of $100,000; (c) Unsecured Promissory Note dated effective
        April 11, 2005 in the principal amount of $200,000; and (d) Unsecured Promissory
        Note dated effective April 26, 2005 in the principal amount of $100,000
        (collectively, the "AG Notes").]
Effective
        as of June 16, 2005, the Registrant's Board of Directors approved the following
        key compensation terms for Dr. Michael Urban in connection with his serving
        as
        the Registrant's President/CEO: (a) Issuance of 125,000 shares of common stock
        per year payable each calendar quarter on September 15, December 15, March
        15,
        and June 15;
provided
,
however
,
        in the
        event Dr. Urban's tenure is shorter than one calendar year, issuance of the
        subject shares will be adjusted on a pro rata basis; (b) performance bonus
        as
        follows: (i) 200,000 shares of common stock issuable contingent upon the
        occurrence of certain other events and (ii) 300,000 shares of common stock
        issuable upon the closing of an equity or debt financing resulting in proceeds
        to Registrant of not less than $3,000,000; and (c) an annual performance
        review.
        Registrant and Dr. Urban will enter into an executive employment agreement
        reflecting the foregoing terms and other customary terms for an executive
        employment between a public company and its principal officer.
Effective
        as of June 16, 2005, the Registrant's Board of Directors approved the following
        compensation terms for Thomas Fessler in connection with his serving as a
        member
        of the Registrant's Board of Directors: (a) issuance of 10,000 shares of common
        stock per calendar year payable each calendar quarter on September 15, December
        15, March 15, and June 15; (b) $2,500 for each Board of Directors meeting
        attended; and (c) an annual performance review. Registrant and Mr. Fessler
        will
        enter into a director compensation agreement reflecting the foregoing terms
        and
        other customary terms for an agreement between a public company and a member
        of
        its Board.
Item
        1.02
Termination
        of Material Definitive Agreement.
Effective
        as of June 16, 2005, the Registrant and the holders of the FTI Notes, entered
        into certain subscription agreements pursuant to which each holder agreed
        to
        cancel and subscribe the outstanding principal and accrued interest under
        their
        respective promissory notes, in consideration for the issuance of shares
        of the
        Registrant's common stock. The holders of the Johannsmeier Note and the Lo Notes
        are stockholders of the Registrant.
[Effective
        as of June 16, 2005, the Registrant and FWAG entered into a certain subscription
        agreement pursuant to which FWAG agreed to cancel and subscribe the outstanding
        principal and accrued interest under the AG Notes in consideration for the
        issuance of shares of the Registrant's commons stock. FWAG is a stockholder of
        the Registrant.]
Item
        2.03
Creation
        of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet
        Arrangement of a Registrant.
As
        more
        particularly described in Items 1.01 above, effective as of June 16, 2005,
        the
        Registrant entered into the Assignment with FTI pursuant to which FTI assigned
        and transferred to the Registrant, FTI's rights, duties, liabilities, and
        obligations under the FTI Notes. As described in Item 1.02 above, however,
        effective as of June 16, 2005, the Registrant and the holders of the FTI
        Notes
        entered into certain subscription agreements pursuant to which each holder
        agreed to cancel and subscribe the outstanding principal and accrued interest
        under their respective promissory notes, in consideration for the issuance
        of
        shares of the Registrant's common stock.
Item
        3.02
Unregistered
        Sales of Equity Securities.
Pursuant
        to certain subscription agreements dated effective as of June 16, 2005 entered
        into by and between the Registrant and the holders of the Simpkin Note,
        Johannsmeier Note and the Lo Notes, (a) the Simpkin Note was cancelled and
        the
        holder subscribed the outstanding principal and accrued interest thereunder
        in
        consideration for the Registrant's issuance of 1,000,000 shares of common stock;
        (b) the Johannsmeier Note was cancelled and the holder subscribed the
        outstanding principal and accrued interest thereunder in consideration for
        the
        Registrant's issuance of 100,000 shares of common stock; and (c) the Lo Notes
        were cancelled and the holder subscribed the outstanding principal and accrued
        interest thereunder in consideration for the Registrant's issuance of 183,333
        shares of common stock.
[Pursuant
        to the subscription agreement dated effective as of June 16, 2005 entered
        into
        by and between the Registrant and FWAG, the AG Notes were cancelled and FWAG
        subscribed the outstanding principal and accrued interest thereunder in
        consideration for the Registrant's issuance of 2,419,384 shares of common
        stock.]
With
        respect to each of the issuances described in the foregoing paragraphs in
        this
        Item 3.02, exemption from registration requirements is claimed under the
        Securities Act of 1933, as amended (the "Securities Act") in reliance on Section
        4(2) of the Securities Act or Regulation D promulgated thereunder. The
        purchasers represented their intention to acquire the Registrant's shares for
        investment only and not with a view to, or for sale in connection with, any
        distribution thereof and appropriate legends were affixed to the certificates
        evidencing the shares in such transaction. The purchasers had acquired access
        to
        information about the Registrant.
Item
        5.02
Departure
        of Directors or Principal Officers; Election of Directors; Appointment of
        Principal Officers.
Effective
        as of June 16, 2005, the Registrant's Board of Directors appointed the following
        new principal officers to serve until the next annual meeting of the Board
        of
        Directors and until their successors are appointed: (a) President/CEO - Dr.
        Michael Urban, and (b) Secretary - Henry Lo. In addition, effective as of
        June
        16, 2005, the following individuals have departed from their respective
        principal officer positions: (y) President/CEO - Alexander von Welczeck,
        and (z)
        Secretary - Desiree L. Pierson.
(a)
Dr.
        Michael Urban. Mr. Urban has been a private investor since 1999. From 1990-1998,
        Dr. Urban served as the President and CEO of Urban & Schwarzenberg,
        publishers of medical books and journals. On April 18, 2005, Registrant entered
        into a Stock Purchase Agreement with Dr. Urban (the "Agreement"), pursuant to
        which Registrant issued 450,000 shares (the "Shares") of its Common Stock, par
        value $0.001, for a purchase price of $0.23 per share ("Purchase Price") and
        received gross proceeds of $103,500. Effective as of June 16, 2005, the
        Registrant's Board of Directors approved the following key compensation terms
        for Dr. Urban in connection with his serving as the Registrant's President/CEO:
        (a) Issuance of 125,000 shares of common stock per year payable each calendar
        quarter on September 15, December 15, March 15, and June 15;
provided
,
however
,
        in the
        event Dr. Urban's tenure is shorter than one calendar year, issuance of the
        subject shares will be adjusted on a pro rata basis; (b) performance bonus
        as
        follows: (i) 200,000 shares of common stock issuable contingent upon the
        occurrence of certain other events and (ii) 300,000 shares of common stock
        issuable upon the closing of an equity or debt financing resulting in proceeds
        to Registrant of not less than $3,000,000; and (c) annual performance review.
        Registrant and Dr. Urban will enter into an executive employment agreement
        reflecting the foregoing terms and other customary terms for an executive
        employment between a public company and its principal officer.
(b)
Henry
        Lo.
        Since April of 2004, Mr. Lo has been the Chief Financial Officer and V.P.
        of
        Finance and Administration of FTI. Since December of 2004, Mr. Lo has been
        the
        Chief Financial Officer of the Registrant. Prior to joining FTI and Registrant,
        Mr. Lo was the founder and Chief Financial Officer of Planet-Intra Software
        since its inception in 2000. Additionally, Mr. Lo is a Certified Public
        Accountant. There is currently no employment agreement between the Registrant
        and Mr. Lo.
SIGNATURE
Pursuant
        to the requirements of the Securities Exchange Act of 1934, Registrant has
        duly
        caused this Report to be signed on its behalf by the undersigned, thereunto
        duly
        authorized.
Date:
        June 24, 2005
friendlyway
                Corporation
By:
/s/ 
                Michael Urban
Dr.
                Michael Urban
President/Chief
                  Executive
                  Officer