UNITED STATES
                       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 29, 2005

                   ADVANCED COMMUNICATIONS TECHNOLOGIES, INC.
             (Exact Name of Registrant as Specified in Its Charter)

  Florida                            000-30486                  65-0738251
  -------                            ---------                  ----------
  (State or Other                    (Commission                (IRS Employer
  Jurisdiction of                    File Number)               Identification
  Incorporation)                                                Number)

  420 Lexington Avenue, New York, New York             10170
  ----------------------------------------             -----
  (Address of Principal Executive Offices)            (Zip Code)

       Registrant's telephone number, including area code: (646) 227-1600
                                                           --------------

                                      N/A
         --------------------------------------------------------------
         (Former name or former address, if changed since last report.)

     Check the  appropriate  box below if the Form 8-K  filing  is  intended  to
simultaneously  satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):

      |_| Written  communications  pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)

      |_| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17
CFR 240.14a-12)

      |_|  Pre-commencement  communications  pursuant to Rule 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 a Material Definitive Agreement.

         On May 24,  2005,  the Board of  Directors  of Advanced  Communications
Technologies, Inc. (the "Company") approved the issuance of 75,000,000 shares of
the Company's common stock, no par value per share (the "Common Stock"), to each
of Randall Prouty,  Michael Finch,  Wilbank Roche and Jonathan Lichtman,  each a
non-employee  director of the Company,  in recognition of the considerable  time
and  effort  that each has  devoted  to the  Company's  business  since at least
October  1999  without  adequate  compensation  and  without the  protection  of
directors and officers liability  insurance,  the significant  opportunities and
benefits  outside the Company that each otherwise would have been able to enjoy,
and the  significant  progress  that the  Company  has made with  respect to the
settlement  of certain  lawsuits and the  acquisition  of other  companies  (the
"Stock Grants"). The Stock Grants were formally issued pursuant to the terms and
conditions of the Company's  2005 Stock Plan (the "Plan") on June 29, 2005.  The
Company  registered the shares of Common Stock issuable under the Plan under the
Securities  Act of 1933, as amended,  on Form S-8 on June 27, 2005.  The Company
has entered into a grant  instrument with each of the  above-named  directors in
accordance  with the Plan in the form  attached as Exhibit  10.1 to this Current
Report on Form 8-K. In addition,  each of the above-named  directors has entered
into a Lock-Up  Agreement  with the Company  with respect to the Stock Grants in
the form attached as Exhibit 10.2 to this Current Report on Form 8-K.

         As  previously  reported on the  Company's  Current  Report on Form 8-K
filed with the Securities and Exchange  Commission (the "SEC") on June 13, 2005,
the  Company  has  entered  into a Services  Agreement  with Wayne I. Danson and
Danson  Partners,  LLC, a limited  liability  company  of which Mr.  Danson is a
principal  ("DPL"),  pursuant  to which  Mr.  Danson  is  serving  as the  Chief
Executive  Officer,  President  and  Chief  Financial  Officer  of the  Company.
Pursuant to the  Services  Agreement,  Mr.  Danson or DPL was to receive a share
bonus of  200,000,000  restricted,  fully vested shares of the Company's  Common
Stock (the "Stock Bonus"). On June 29, 2005, the Stock Bonus was formally issued
pursuant to the terms and conditions of the Plan. The Company has entered into a
grant  instrument  with  Mr.  Danson  in  accordance  with  the Plan in the form
attached as Exhibit  10.3 to this Current  Report on Form 8-K. In addition,  Mr.
Danson has entered into a Lock-Up Agreement with the Company with respect to the
Stock  Bonus,  the form of which is  attached  as Exhibit  10.2 to this  Current
Report on Form 8-K.

         Mr.  Danson  currently  serves as a director  of the  Company and as an
officer and director of certain  subsidiaries of Pacific  Magtron  International
Corp.  ("PMIC"),  a  majority-owned  subsidiary  of the Company.  As reported on
PMIC's Current  Report on Form 8-K filed with the SEC on May 12, 2005,  PMIC and
its wholly-owned subsidiaries Pacific Magtron, Inc., Pacific Magtron (GA), Inc.,
and  Livewarehouse,  Inc.  have on May 11, 2005 filed a voluntary  petition  for
reorganization under Chapter 11 of the United States Bankruptcy Code.

         Each of Messrs. Danson,  Lichtman,  Roche, Finch and Prouty has engaged
in certain related party  transactions with the Company.  A brief description of
such related party transactions is set forth under the caption "Part III - Item.
12. Certain  Relationships  and Related  Transactions"  in the Company's  Annual
Report on Form  10-KSB for the year  ended  June 30,  2004 filed with the SEC on
November 3, 2004, which  disclosures are incorporated  herein by reference.  The
Company's file number with the SEC under the Securities Exchange Act of 1934, as
amended, is 000-30486.

Item 9.01.        Financial Statements and Exhibits.

(c) Exhibits.

      10.1  Form of Grant Instrument under Advanced Communications Technologies,
            Inc. 2005 Stock Plan for Director

      10.2  Form of Lock-Up Agreement

      10.3  Form of Grant Instrument under Advanced Communications Technologies,
            Inc. 2005 Stock Plan for Wayne I. Danson

<PAGE>

                                    SIGNATURE

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

                                      ADVANCED COMMUNICATIONS TECHNOLOGIES, INC.

Dated:  July 6, 2005                  By: /s/ Wayne I. Danson
                                         ---------------------------------------
                                          Chief Executive Officer, President and
                                          Chief Financial Officer
                                          (principal financial officer)

<PAGE>

                                  EXHIBIT INDEX

Exhibit Number    Description

  10.1            Form  of  Grant  Instrument   under  Advanced   Communications
                  Technologies, Inc. 2005 Stock Plan for Director

  10.2            Form of Lock-Up Agreement

  10.3            Form  of  Grant  Instrument   under  Advanced   Communications
                  Technologies, Inc. 2005 Stock Plan for Wayne I. Danson
{"company-data": {"conformed-name": "ADVANCED COMMUNICATIONS TECHNOLOGIES INC", "cik": "0001100820", "assigned-sic": "7389", "irs-number": "650738251", "state-of-incorporation": "FL", "fiscal-year-end": "0630"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-30486", "film-number": "05941345"}, "business-address": {"street1": "420 LEXINGTON AVENUE", "city": "NEW YORK", "state": "NY", "zip": "10170", "phone": "646-227-1600"}, "mail-address": {"street1": "420 LEXINGTON AVENUE", "city": "NEW YORK", "state": "NY", "zip": "10170"}, "former-company": {"former-conformed-name": "SMART INVESTMENT COM INC", "date-changed": "19991209"}}
UNITED STATES
                       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 29, 2005

                   ADVANCED COMMUNICATIONS TECHNOLOGIES, INC.
             (Exact Name of Registrant as Specified in Its Charter)

  Florida                            000-30486                  65-0738251
  -------                            ---------                  ----------
  (State or Other                    (Commission                (IRS Employer
  Jurisdiction of                    File Number)               Identification
  Incorporation)                                                Number)

  420 Lexington Avenue, New York, New York             10170
  ----------------------------------------             -----
  (Address of Principal Executive Offices)            (Zip Code)

       Registrant's telephone number, including area code: (646) 227-1600
                                                           --------------

                                      N/A
         --------------------------------------------------------------
         (Former name or former address, if changed since last report.)

     Check the  appropriate  box below if the Form 8-K  filing  is  intended  to
simultaneously  satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):

      |_| Written  communications  pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)

      |_| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17
CFR 240.14a-12)

      |_|  Pre-commencement  communications  pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))

      |_|  Pre-commencement  communications  pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
Item 1.01.        Entry into a Material Definitive Agreement.

         On May 24,  2005,  the Board of  Directors  of Advanced  Communications
Technologies, Inc. (the "Company") approved the issuance of 75,000,000 shares of
the Company's common stock, no par value per share (the "Common Stock"), to each
of Randall Prouty,  Michael Finch,  Wilbank Roche and Jonathan Lichtman,  each a
non-employee  director of the Company,  in recognition of the considerable  time
and  effort  that each has  devoted  to the  Company's  business  since at least
October  1999  without  adequate  compensation  and  without the  protection  of
directors and officers liability  insurance,  the significant  opportunities and
benefits  outside the Company that each otherwise would have been able to enjoy,
and the  significant  progress  that the  Company  has made with  respect to the
settlement  of certain  lawsuits and the  acquisition  of other  companies  (the
"Stock Grants"). The Stock Grants were formally issued pursuant to the terms and
conditions of the Company's  2005 Stock Plan (the "Plan") on June 29, 2005.  The
Company  registered the shares of Common Stock issuable under the Plan under the
Securities  Act of 1933, as amended,  on Form S-8 on June 27, 2005.  The Company
has entered into a grant  instrument with each of the  above-named  directors in
accordance  with the Plan in the form  attached as Exhibit  10.1 to this Current
Report on Form 8-K. In addition,  each of the above-named  directors has entered
into a Lock-Up  Agreement  with the Company  with respect to the Stock Grants in
the form attached as Exhibit 10.2 to this Current Report on Form 8-K.

         As  previously  reported on the  Company's  Current  Report on Form 8-K
filed with the Securities and Exchange  Commission (the "SEC") on June 13, 2005,
the  Company  has  entered  into a Services  Agreement  with Wayne I. Danson and
Danson  Partners,  LLC, a limited  liability  company  of which Mr.  Danson is a
principal  ("DPL"),  pursuant  to which  Mr.  Danson  is  serving  as the  Chief
Executive  Officer,  President  and  Chief  Financial  Officer  of the  Company.
Pursuant to the  Services  Agreement,  Mr.  Danson or DPL was to receive a share
bonus of  200,000,000  restricted,  fully vested shares of the Company's  Common
Stock (the "Stock Bonus"). On June 29, 2005, the Stock Bonus was formally issued
pursuant to the terms and conditions of the Plan. The Company has entered into a
grant  instrument  with  Mr.  Danson  in  accordance  with  the Plan in the form
attached as Exhibit  10.3 to this Current  Report on Form 8-K. In addition,  Mr.
Danson has entered into a Lock-Up Agreement with the Company with respect to the
Stock  Bonus,  the form of which is  attached  as Exhibit  10.2 to this  Current
Report on Form 8-K.

         Mr.  Danson  currently  serves as a director  of the  Company and as an
officer and director of certain  subsidiaries of Pacific  Magtron  International
Corp.  ("PMIC"),  a  majority-owned  subsidiary  of the Company.  As reported on
PMIC's Current  Report on Form 8-K filed with the SEC on May 12, 2005,  PMIC and
its wholly-owned subsidiaries Pacific Magtron, Inc., Pacific Magtron (GA), Inc.,
and  Livewarehouse,  Inc.  have on May 11, 2005 filed a voluntary  petition  for
reorganization under Chapter 11 of the United States Bankruptcy Code.

         Each of Messrs. Danson,  Lichtman,  Roche, Finch and Prouty has engaged
in certain related party  transactions with the Company.  A brief description of
such related party transactions is set forth under the caption "Part III - Item.
12. Certain  Relationships  and Related  Transactions"  in the Company's  Annual
Report on Form  10-KSB for the year  ended  June 30,  2004 filed with the SEC on
November 3, 2004, which  disclosures are incorporated  herein by reference.  The
Company's file number with the SEC under the Securities Exchange Act of 1934, as
amended, is 000-30486.

Item 9.01.        Financial Statements and Exhibits.

(c) Exhibits.

      10.1  Form of Grant Instrument under Advanced Communications Technologies,
            Inc. 2005 Stock Plan for Director

      10.2  Form of Lock-Up Agreement

      10.3  Form of Grant Instrument under Advanced Communications Technologies,
            Inc. 2005 Stock Plan for Wayne I. Danson
SIGNATURE

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

                                      ADVANCED COMMUNICATIONS TECHNOLOGIES, INC.

Dated:  July 6, 2005                  By: /s/ Wayne I. Danson
                                         ---------------------------------------
                                          Chief Executive Officer, President and
                                          Chief Financial Officer
                                          (principal financial officer)
EXHIBIT INDEX

Exhibit Number    Description

  10.1            Form  of  Grant  Instrument   under  Advanced   Communications
                  Technologies, Inc. 2005 Stock Plan for Director

  10.2            Form of Lock-Up Agreement

  10.3            Form  of  Grant  Instrument   under  Advanced   Communications
                  Technologies, Inc. 2005 Stock Plan for Wayne I. Danson