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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>UNITED
        STATES</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>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">&#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>WASHINGTON,
        D.C. 20549</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#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>FORM
        8-K</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#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>CURRENT
        REPORT</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#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>CURRENT
        REPORT PURSUANT TO SECTION 13 OR 15(D) 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>THE
        SECURITIES AND 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="justify">&#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>September
        30, 2005</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">Date
        of
        report (Date of earliest event reported)</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#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: 13pt; FONT-FAMILY: Times New Roman"><strong>C2
        GLOBAL TECHNOLOGIES INC.</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#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">(Exact
        Name of Registrant as Specified in its Charter)</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#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>FLORIDA</strong></font></div>
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        or
        Other Jurisdiction of</font></div>
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        or Organization)</font></div>
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                  File No.) </font></div>
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              </td>
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                  Employer Identification No.)</font></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>40
        King Street West, 32</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><sup><strong>nd</strong></sup></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>
        Floor, Toronto, Ontario, M5H 3Y2, Canada</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#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">(Address
        of Principal Executive Offices and Zip Code)</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#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>(416)
        866 3000</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#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">(Registrants
        Telephone Number, Including Area Code)</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#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>1001
        Brinton Road, Pittsburgh, PA 15221</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">(Former
        Name or Former Address, if Changed Since Last Report)</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</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">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):</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</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"><font style="DISPLAY: inline; FONT-FAMILY: Wingdings">o</font>
        Written communications
        pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</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"><font style="DISPLAY: inline; FONT-FAMILY: Wingdings">o</font>
        Soliciting material
        pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</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"><font style="DISPLAY: inline; FONT-FAMILY: Wingdings">o</font>
        Pre-commencement
        communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
        240.14d-2(b))</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</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"><font style="DISPLAY: inline; FONT-FAMILY: Wingdings">o</font>
        Pre-commencement
        communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
        240.13e-4(c))</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div><br>
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        <div>&#160;</div>
      </div><strong><font size="2">Section 1 - Registrant&#8217;s Business
      and Operations</font></strong><br>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</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"><strong>Item
        1.02 </strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Termination
        of a Material Definitive Agreement</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</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">As
        disclosed in Item 5.02 of this Current Report on Form 8-K, Eric S. Lipscomb,
        the
        Company&#8217;s Vice President of Accounting, Controller and Chief Accounting
        Officer,&#160;ceased being an employee of &#160;the Company (as defined
        below)
        subsequent to and effective as of the closing of the below-referenced asset
        sale
        transaction. Mr. Lipscomb&#8217;s Employment Agreement, dated January 1, 2005, was
        assigned to the Buyer (as defined below) in conjunction with his departure
        of
        the Company.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</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>Section
        2 - Financial Information</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
        2.01</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Completion
        of Acquisition or Disposition of Assets </strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
        September 30, 2005, C2 Global Technologies Inc., (f/k/a Acceris Communications
        Inc.), a Florida corporation (&#8220;C2&#8221; or the &#8220;Company&#8221;), announced the closing of
        the sale of substantially all assets and assumption of certain of its
        liabilities pursuant to the terms and provisions of the May 19, 2005 Asset
        Purchase Agreement (the &#8220;APA&#8221;). A copy of the APA was filed as an exhibit to the
        Company&#8217;s Current Report on Form 8-K filed with the SEC on May 25, 2005 and is
        incorporated herein by reference.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Under
        the
        APA, the Company, its wholly-owned subsidiary Acceris Communications Corp.,
        a
        Delaware corporation (&#8220;ACC&#8221;), and its majority stockholder, Counsel Corporation
        (&#8220;Counsel&#8221;), on the one hand, executed the APA to sell substantially all of the
        assets and to transfer certain liabilities of ACC to Acceris Management and
        Acquisition LLC, a Minnesota limited liability company and wholly-owned
        subsidiary of North Central Equity LLC (collectively, the &#8220;Buyer&#8221;), on the other
        hand. In accordance with the APA, the consideration for the acquired assets
        and
        operations was the Buyer&#8217;s assumption of certain designated liabilities of the
        telecommunications segment in the aggregate amount of approximately $24.2
        million, subject to certain accounting and closing adjustments. The foregoing
        sale </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">resulted
        in the Company&#8217;s recording a gain on sale of the assets. The Company is
        currently in the process of ascertaining the amount of this gain and will
        report
        an estimate of the gain on sale in its Quarterly Report on Form 10-Q for
        the
        third quarter of 2005.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
        August
        5, 2005, the Company&#8217;s shareholders considered and approved the asset sale
        transaction at the Annual Shareholder Meeting. </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        previously filed Form 8-K described the terms of the APA and related transaction
        documents and included copies of all operative agreements. All readers of
        this
        Current Report are encouraged to read the entire texts of these
        agreements.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</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"><em>Related
        Matters</em></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
        May
        16, 2005, Counsel agreed to extend the maturity dates of all outstanding
        and
        future loans, payable by C2 to Counsel, to December 31, 2006 from their
        then-current maturity of April 30, 2006. All other terms of the loan agreements
        remain in full force and effect. The extension was subject to the legal closing
        of the APA (the &#8220;Condition Precedent&#8221;). On May 16, 2005, Counsel also agreed to
        extend its Keep Well agreement (the &#8220;Keep Well&#8221;) with C2, which was scheduled to
        expire on June 30, 2005, to December 31, 2006. The Keep Well requires Counsel
        to
        fund, through long-term inter-company advances or equity contributions, all
        capital investment, working capital or other operational cash requirements
        of
        C2. The extension of the Keep Well was also subject to the Condition Precedent
        described above.</font></div>
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        <div>&#160;</div>
      </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">On
        September 30, 2005, the Company, in conjunction with the completion of the
        sale
        described above, modified the security interest in the Company held by Laurus
        Master Fund, Ltd. (&#8220;Laurus&#8221;) to: 1) release Laurus&#8217; security interest in the
        assets being disposed of in the sale of the Telecommunications assets, 2)
        make
        Laurus the senior lender to the business on the assets remaining in the business
        following the sale of the Telecommunications assets, 3) put $1,800,000 into
        a
        restricted cash account to the benefit of Laurus, the proceeds of which Laurus
        is authorized to apply to scheduled monthly amortization payments under the
        loan.</font></div>
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        5 - Corporate Governance and Management</strong></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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        5.02 </strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Departure
        of Directors or Principal Officers; Election of Directors; Appointment of
        Principal Officers</strong></font></div>
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        S.
        Lipscomb, the Company&#8217;s Vice President of Accounting, Controller and Chief
        Accounting Officer, ceased being an employee of&#160;&#160;the Company
        subsequent to and effective as of&#160; the closing of the above-referenced
        asset sale transaction.</font></div>
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        8 - Other Events</strong></font></div>
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        8.01</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9.15pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Other
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        October 3, 2005, the Company issued a press release announcing the asset
        disposition. A copy of this press release is attached as Exhibit 99.1 hereto.
        The reader is advised to read this press release in its entirety.</font></div>
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        9.01</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Financial
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        Exhibits</strong></font></div>
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        No.</u></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Description</u></font></div>
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        Release dated October 3, 2005</font></div><br>
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        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 thereunto
        duly authorized.</font></div>
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                  Global Technologies Inc.</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">Date:
                  October 6, 2005&#160;</font></div>
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                  Gary M. Clifford &#160;</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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                <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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{"company-data": {"conformed-name": "C2 Global Technologies Inc", "cik": "0000849145", "assigned-sic": "4822", "irs-number": "592291344", "state-of-incorporation": "FL", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-17973", "film-number": "051127485"}, "business-address": {"street1": "9775 BUSINESSPARK AVENUE", "city": "SAN DIEGO", "state": "CA", "zip": "92131", "phone": "8585475700"}, "mail-address": {"street1": "1001 BRINTON ROAD", "city": "PITTSBURGH", "state": "PA", "zip": "15221"}, "former-company": [{"former-conformed-name": "ACCERIS COMMUNICATIONS INC", "date-changed": "20040220"}, {"former-conformed-name": "I LINK INC", "date-changed": "19971020"}, {"former-conformed-name": "MEDCROSS INC", "date-changed": "19920703"}]}
Unassociated Document
UNITED
        STATES
SECURITIES
        AND EXCHANGE COMMISSION
WASHINGTON,
        D.C. 20549
FORM
        8-K
CURRENT
        REPORT
CURRENT
        REPORT PURSUANT TO SECTION 13 OR 15(D) OF
THE
        SECURITIES AND EXCHANGE ACT OF 1934
September
        30, 2005
Date
        of
        report (Date of earliest event reported)
C2
        GLOBAL TECHNOLOGIES INC.
(Exact
        Name of Registrant as Specified in its Charter)
FLORIDA
(State
        or
        Other Jurisdiction of
Incorporation
        or Organization)
0-17973
59-2291344
(Commission
                  File No.)
(I.R.S.
                  Employer Identification No.)
40
        King Street West, 32
nd
Floor, Toronto, Ontario, M5H 3Y2, Canada
(Address
        of Principal Executive Offices and Zip Code)
(416)
        866 3000
(Registrants
        Telephone Number, Including Area Code)
1001
        Brinton Road, Pittsburgh, PA 15221
(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):
o
Written communications
        pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o
Soliciting material
        pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement
        communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
        240.14d-2(b))
o
Pre-commencement
        communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
        240.13e-4(c))
Section 1 - Registrant's Business
      and Operations
Item
        1.02
Termination
        of a Material Definitive Agreement
As
        disclosed in Item 5.02 of this Current Report on Form 8-K, Eric S. Lipscomb,
        the
        Company's Vice President of Accounting, Controller and Chief Accounting
        Officer, ceased being an employee of  the Company (as defined
        below)
        subsequent to and effective as of the closing of the below-referenced asset
        sale
        transaction. Mr. Lipscomb's Employment Agreement, dated January 1, 2005, was
        assigned to the Buyer (as defined below) in conjunction with his departure
        of
        the Company.
Section
        2 - Financial Information
Item
        2.01
Completion
        of Acquisition or Disposition of Assets
On
        September 30, 2005, C2 Global Technologies Inc., (f/k/a Acceris Communications
        Inc.), a Florida corporation ("C2" or the "Company"), announced the closing of
        the sale of substantially all assets and assumption of certain of its
        liabilities pursuant to the terms and provisions of the May 19, 2005 Asset
        Purchase Agreement (the "APA"). A copy of the APA was filed as an exhibit to the
        Company's Current Report on Form 8-K filed with the SEC on May 25, 2005 and is
        incorporated herein by reference.
Under
        the
        APA, the Company, its wholly-owned subsidiary Acceris Communications Corp.,
        a
        Delaware corporation ("ACC"), and its majority stockholder, Counsel Corporation
        ("Counsel"), on the one hand, executed the APA to sell substantially all of the
        assets and to transfer certain liabilities of ACC to Acceris Management and
        Acquisition LLC, a Minnesota limited liability company and wholly-owned
        subsidiary of North Central Equity LLC (collectively, the "Buyer"), on the other
        hand. In accordance with the APA, the consideration for the acquired assets
        and
        operations was the Buyer's assumption of certain designated liabilities of the
        telecommunications segment in the aggregate amount of approximately $24.2
        million, subject to certain accounting and closing adjustments. The foregoing
        sale
resulted
        in the Company's recording a gain on sale of the assets. The Company is
        currently in the process of ascertaining the amount of this gain and will
        report
        an estimate of the gain on sale in its Quarterly Report on Form 10-Q for
        the
        third quarter of 2005.
On
        August
        5, 2005, the Company's shareholders considered and approved the asset sale
        transaction at the Annual Shareholder Meeting.
The
        previously filed Form 8-K described the terms of the APA and related transaction
        documents and included copies of all operative agreements. All readers of
        this
        Current Report are encouraged to read the entire texts of these
        agreements.
Related
        Matters
On
        May
        16, 2005, Counsel agreed to extend the maturity dates of all outstanding
        and
        future loans, payable by C2 to Counsel, to December 31, 2006 from their
        then-current maturity of April 30, 2006. All other terms of the loan agreements
        remain in full force and effect. The extension was subject to the legal closing
        of the APA (the "Condition Precedent"). On May 16, 2005, Counsel also agreed to
        extend its Keep Well agreement (the "Keep Well") with C2, which was scheduled to
        expire on June 30, 2005, to December 31, 2006. The Keep Well requires Counsel
        to
        fund, through long-term inter-company advances or equity contributions, all
        capital investment, working capital or other operational cash requirements
        of
        C2. The extension of the Keep Well was also subject to the Condition Precedent
        described above.
On
        September 30, 2005, the Company, in conjunction with the completion of the
        sale
        described above, modified the security interest in the Company held by Laurus
        Master Fund, Ltd. ("Laurus") to: 1) release Laurus' security interest in the
        assets being disposed of in the sale of the Telecommunications assets, 2)
        make
        Laurus the senior lender to the business on the assets remaining in the business
        following the sale of the Telecommunications assets, 3) put $1,800,000 into
        a
        restricted cash account to the benefit of Laurus, the proceeds of which Laurus
        is authorized to apply to scheduled monthly amortization payments under the
        loan.
Section
        5 - Corporate Governance and Management
Item
        5.02
Departure
        of Directors or Principal Officers; Election of Directors; Appointment of
        Principal Officers
Eric
        S.
        Lipscomb, the Company's Vice President of Accounting, Controller and Chief
        Accounting Officer, ceased being an employee of  the Company
        subsequent to and effective as of  the closing of the above-referenced
        asset sale transaction.
Section
        8 - Other Events
Item
        8.01
Other
        Events
On
        October 3, 2005, the Company issued a press release announcing the asset
        disposition. A copy of this press release is attached as Exhibit 99.1 hereto.
        The reader is advised to read this press release in its entirety.
Item
        9.01
Financial
        Statements and Exhibits.
(c)
        Exhibits
Exhibit
        No.
Description
99.1
Press
        Release dated October 3, 2005
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 thereunto
        duly authorized.
C2
                  Global Technologies Inc.
Date:
                  October 6, 2005
By:
/s/
                  Gary M. Clifford
Name:
Gary
                  M. Clifford
Title:
Chief
                  Financial Officer and Vice President of Finance