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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">SECURITIES
      AND EXCHANGE COMMISSION</font></div>
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      D.C. 20549</font></div>
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      8-K</strong></font></div>
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      REPORT</strong></font></div>
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      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 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">&#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">Date
      of
      Report (Date of earliest event reported):</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong><u>January
      26, 2006 </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"><font id="TAB1" style="MARGIN-LEFT: 9pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong><u>TASKER
      CAPITAL CORP.</u></strong></font></div>
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      name of registrant as specified in its charter)</font></div>
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                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><strong><font size="2">Nevada</font></strong></div>
              </td>
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              <td align="left" valign="top" width="30%" style="border-bottom: black thin solid;">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><strong><font size="2">000-32019</font></strong></div>
              </td>
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              <td align="left" valign="top" width="30%" style="border-bottom: black thin solid;">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><strong><font size="2">88-0426048</font></strong></div>
              </td>
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                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font size="2">(State
                  or other jurisdiction of</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: -8.95pt" size="3">&#160;</font></div>
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                  Number)</font></div>
              </td>
              <td align="left" valign="top" width="5%">&#160;</td>
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                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(IRS
                  Employer</font></div>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Identification
                  Number)</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><u>39
      Old Ridgebury Road, Suite 14, Danbury, CT 06810-5116</u></strong></font></div>
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      of principal executive offices, including zip code)</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><u>(203)
      730-4350</u></strong></font></div>
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      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:</font></div>
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              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Written
                communications pursuant to Rule 425 under the Securities Act (17
                CFR
                230.425)</font></div>
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              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Soliciting
                material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
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              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pre-commencement
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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"><strong>Item
      1.01</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>Entry
      into 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 style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><em><u>Securities
      Purchase Agreement and Related Warrants, Escrow Agreement and Registration
      Rights Agreement</u></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: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
      January 26, 2006, Tasker Capital Corp. (the &#8220;Company&#8221;), entered into a
      Securities Purchase Agreement (the &#8220;Purchase Agreement&#8221;) with accredited
      investors pursuant to which the Company sold 13,335,925 units consisting of
      one
      share of common stock and a warrant to purchase one share of common stock at
      an
      exercise price of $1.00 per share for $0.70 per unit. Emerging Growth Equities,
      Ltd., a Pennsylvania limited partnership, served as placement agent for the
      transaction. The gross proceeds to the Company at the closing of this private
      placement, exclusive of the exercise price of the warrants, were
      $9,335,150.80.</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">The
      warrants also include a cashless exercise provision pursuant to which the
      warrants may be exercised without payment in cash to the Company of the exercise
      price in the event that, at any time after one year from the date of the
      issuance of the warrant, there is no effective registration statement
      registering the resale of the shares of common stock underlying the
      warrants.</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">Pursuant
      to the Purchase Agreement, the Company agreed to several covenants, including
      the following: (i) the Company has agreed to take all actions necessary,
      including the preparation of proxy materials and solicitation of the Company&#8217;s
      shareholders, to seek shareholder approval to increase the size of the existing
      Board of Directors of the Company from five to seven members; (ii) the Company
      has agreed to update, if necessary, and as soon as reasonably practicable,
      certain prospectuses filed with the Securities and Exchange Commission; (iii)
      the Company has agreed to take all action necessary to appoint an individual
      selected by the purchasers holding a majority of the units purchased in this
      private placement, and reasonably agreeable to the Company&#8217;s existing Board of
      Directors, to fill the current vacancy on the Company&#8217;s Board of Directors, to
      appoint such person to serve on the Compensation Committee and, if qualified,
      the Audit Committee, and to take all actions necessary to ensure that such
      person will be included on the Company&#8217;s slate of Board nominees submitted for a
      shareholder vote at the Company&#8217;s next scheduled annual meeting of shareholders;
      and (iv) the Company has agreed to permit the purchasers in this private
      placement to designate a person to attend and observe (in person or
      telephonically) presentations to and matters before the Company&#8217;s Board,
      provided that such observer will remove himself or herself prior to any Board
      vote or taking of formal Board action, if such removal is requested by the
      Board.</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">On
      January 26, 2006, the Company also entered into an Escrow Agreement (the &#8220;Escrow
      Agreement&#8221;), pursuant to which the subscription amounts from each purchaser were
      placed into escrow pending release upon the happening of certain specified
      conditions. All of these conditions were either met or waived at the closing
      that occurred on January 26, 2006. The escrow conditions included not only
      the
      agreements by the Company set forth above, but also several additional covenants
      including the following: (i) the Company has agreed to use no more that $500,000
      of the proceeds raised in the January 2006 private placement as payment for
      the
      Company&#8217;s past due payables existing as of December 31, 2005; (ii) the Company
      had to obtain a waiver of claims for liquidated damages relating to the
      Company&#8217;s September 2005 private placement of securities from shareholders
      representing at least a majority of all outstanding securities issued in
      connection with the September 2005 private placement, and the Company had to
      reprice the warrants issued to shareholders providing the waiver such that
      the
      exercise price of the warrants issued in connection with the September 2005
      private placement was reduced from $3.00 to $1.00; and (iii) all of the current
      members of the Company&#8217;s Board, with the exception of the Board member selected
      by the purchasers, had to subscribe for, in the aggregate, at least $150,000
      worth of common stock and warrants being sold in the private placement.
</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">In
      addition to the Purchase Agreement and the Escrow Agreement, the Company also
      entered into a Registration Rights Agreement (the &#8220;Registration Rights
      Agreement&#8221;). Pursuant to the Registration Rights Agreement, the Company is
      required to file a registration statement covering the resale of the shares
      of
      common stock purchased pursuant to the Purchase Agreement and the shares of
      common stock receivable upon exercise of the warrants within 90 days after
      the
      closing of the private placement, and to have that registration statement
      declared effective within six months after the filing of the registration
      statement. The Company is also obligated to use its best efforts to respond
      to
      any comments of the SEC within fifteen calendar days of the receipt of comments.
      The Company is required to pay liquidated damages if the registration statement
      has not been filed or declared effective on or prior to the applicable deadline
      specified above, or if the Company fails to use best efforts to respond to
      SEC
      comments within fifteen calendar days. The Registration Rights Agreement
      requires the Company to pay the liquidated damages in additional common stock
      and warrants. </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">The
      Company has covenanted to use the net proceeds from the January 2006 private
      placement for working capital purposes, including poultry processing, seafood
      processing, Unifresh</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Symbol">&#212;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
      Footbath
      concentrate, and Unifresh</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Symbol">&#212;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
      Pen
      Spray concentrate and other products and/or businesses the Company deems
      necessary, and not for the satisfaction of any portion of the Company&#8217;s past due
      payables outstanding as of December 31, 2005 (other than payment of past due
      payables outstanding as of December 31, 2005 in an amount not to exceed
      $500,000), to redeem any Company equity or equity-equivalent securities or
      to
      settle any outstanding litigation. </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">As
      compensation for acting as placement agent, Emerging Growth Equities, Ltd.
      received a cash payment equal to 6% of the gross proceeds from the private
      placement, and also received a warrant exercisable for shares of the Company&#8217;s
      common stock in an amount equal to 6% of the gross proceeds from the sale of
      the
      shares and warrants divided by $0.70. The warrant to Emerging Growth Equities
      has an exercise price equal to $1.00 and is exercisable immediately for a term
      of five years. </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><u>New
      Employment Agreement with Richard Falcone </u></em></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
      on the closing of the private placement, the Board of Directors of the Company
      appointed Richard D. Falcone, a current Board member, as the new President
      and
      Chief Executive Officer of the Company. Although no formal employment agreement
      has been entered into, the Board has agreed, in principal, to the following
      terms: (i) Mr. Falcone will be paid a base salary of $275,000 per year; (ii)
      any
      bonus payments made to Mr. Falcone will be at the discretion of the Board;
      (iii)
      Mr. Falcone will be eligible to participate in the Company&#8217;s existing benefit
      plans; and (iv) Mr. Falcone will have use of a Company car. In addition, the
      employment agreement will have a term of three years. If Mr. Falcone is
      terminated without cause, as defined in his employment agreement, or if he
      should resign for a good reason, as defined in his employment agreement, Mr.
      Falcone will be entitled to severance. The severance payable to Mr. Falcone
      is
      dependant on how long he has been employed at the Company, beginning with
      twenty-four months of base salary payable upon termination immediately after
      execution of his employment agreement, decreasing by one month for each month
      he
      remains employed at the Company, but subject to a minimum severance of twelve
      months of base salary. </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">In
      recognition of his service on the Executive Committee, and as incentive
      compensation for his new role as President and Chief Executive Officer, the
      Board also granted Mr. Falcone 2,200,000 stock options with an exercise price
      of
      $1.00. The options have a ten year term, less one day. Twenty-five percent
      (25%)
      of the options vested immediately, and the remainder vest in equal monthly
      installments over the two-year period from the date of grant. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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        </div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
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    </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><u>Consulting
      Agreement with Gordon Davis</u></em></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">On
      January 26, 2006, the Company also approved a new consulting arrangement with
      Mr. Gordon Davis, the Company&#8217;s Chairman of the Board of Directors. Mr. Davis
      will continue to serve as the Chairman and has also agreed to become a sales
      and
      marketing consultant to the Company. Although no formal consulting agreement
      has
      been entered into, the Board has agreed, in principal, to the following terms:
      (i) Mr. Davis will be paid $120,000 per year; and (ii) Mr. Davis will have
      use
      of a Company car for Company business. In addition, the consulting agreement
      will have a term of three years. If Mr. Davis is terminated without cause he
      will be entitled to severance in an amount equal to twelve months of pay
      pursuant to his consulting agreement. Mr. Davis will continue to receive
      remuneration for service on the Board of Directors. </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">In
      recognition of his service on the Executive Committee, and as incentive
      compensation for his new role as a sales and marketing consultant, the Board
      also granted Mr. Davis 1,750,000 stock options with an exercise price of $1.00.
      The options have a ten year term, less one day. Twenty-five percent (25%) of
      the
      options vested immediately, and the remainder vest in equal monthly installments
      over the two-year period from the date of grant. </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="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><em><u>Stock
      Option Grant to Mr. Zavagli</u></em></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">On
      January 26, 2006, in recognition of his service on the Executive Committee,
      and
      as compensation for his continuing role as a Director of the Company, the Board
      granted Mr. Zavagli 500,000 stock options with an exercise price of $1.00.
      The
      options have a ten year term, less one day. Twenty-five percent (25%) of the
      options vested immediately, and the remainder vest in equal monthly installments
      over the two-year period from the date of grant. </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"><em><u>Amendments
      to License Agreement, Purchase Agreement and Promissory Note with Pharlo
      Entities</u></em></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">On
      January 26, 2006 the Company and its subsidiary, Tasker Products IP Holdings
      Corp. (&#8220;Tasker Products&#8221;), entered into a letter agreement with Indian River
      Labs, L.L.C. (&#8220;IRL&#8221;), Pharlo Citrus Technologies, Inc. (&#8220;PCTI&#8221;), Pharlo Citrus
      Properties Partnership, LLLP (&#8220;PCPP&#8221;), Florida Coastal Labs, LLC, formerly named
      Coast to Coast Laboratories (&#8220;C2C&#8221; and, together with IRL, PCTI and PCPP, the
&#8220;Sellers&#8221;) and Pharlo IP, LLC (&#8220;Pharlo IP&#8221;) that amended (i) the Patent and
      Technology Sub-License Agreement dated as of July 15, 2005 (the &#8220;Sub-License
      Agreement&#8221;) by and among Pharlo IP, the Company and Tasker Products, (ii) the
      Asset Purchase Agreement dated as of July 15, 2005 (the &#8220;Asset Purchase
      Agreement&#8221;) by and among the Company, Tasker Products and the Sellers, and (iii)
      the Promissory Note issued by the Company in favor of IRL on July 15, 2005
      in
      the principal amount of $1,931,973.37. </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"><em>Sub-License
      Agreement</em></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">The
      Sub-License Agreement was amended to restructure the fees payable to Pharlo
      IP.
      Prior to the amendment, Pharlo IP had agreed to provide to the Company and
      Tasker IP Holdings technical assistance necessary to implement, refine and
      exploit the base patents for the pHarlo technology in the Company&#8217;s fields of
      use. In consideration for the technical assistance, the Company and Tasker
      IP
      Holdings had agreed to pay to Pharlo IP, in advance, prior to the calendar
      quarter for which they are payable, certain research and development fees
      (&#8220;R&amp;D Fees&#8221;). The R&amp;D Fees were originally set at a fixed amount, and
      although subject to recovery in certain circumstances, were not dependant on
      sales of the Company&#8217;s products until certain thresholds had been met.
</font></div>
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        </div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
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    </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">The
      amendment restructures the R&amp;D Fees so that they are (i) payable on a
      quarterly basis within 30 days after the end of each calendar quarter (ii)
      are
      based on gross sales of the Company (or its affiliates) of products using the
      pHarlo technology. For fiscal year 2006, the R&amp;D Fees must not be less than
      $150,000 and are capped at $500,000. There are no other minimum R&amp;D Fees
      payable after 2006, although R&amp;D Fees for all subsequent years are capped at
      specified rates. In addition, the parties also agreed to certain amendments
      regarding the assignability of the Sub-License Agreement. </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"><em>Asset
      Purchase Agreement and Promissory Note</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: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      Asset
      Purchase Agreement was amended to allow the Company to acquire, </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">subject
      to certain conditions, limited partnership participating units in Phitex Ltd.
      LLLP (&#8220;Phitex&#8221;) representing 10.0% of the then total outstanding general partner
      and limited partner participating units of Phitex. Prior to the issuance of
      the
      Phitex equity interests, (i) the prospectus that forms part of the registration
      statement covering the resale of the shares acquired by the Sellers in the
      July
      2005 acquisition must be amended or supplemented so that the Sellers can sell
      such shares for a period of 60 consecutive days; (ii) the Company must be in
      compliance with all of its obligations under the Asset Purchase Agreement
      (subject to certain exceptions); and (iii) the Company must enter into a lock-up
      and repurchase right agreement relating to its Phitex equity interests. Under
      the lock-up and repurchase right agreement, Phitex will retain the right to
      repurchase the Company&#8217;s equity interests for a nominal amount upon a change of
      control of the Company. Phitex is the direct </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">one
      hundred percent owner of Pharlo IP. The letter agreement also effectuated
      technical amendments to the definition of &#8220;change of control&#8221; of the Company in
      the Asset Purchase Agreement and the Promissory Note.</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><u>Waivers
      of Liquidation Damages from Investors in the September 2005 Private
      Placement</u></em></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">In
      connection with the private placement described above, the Company also obtained
      waivers </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">of
      all
      claims for liquidated damages relating to the inability of the Company to have
      the registration statement registering resales of securities purchased in the
      September 2005 private placement declared effective by the deadline specified
      in
      the Registration Rights Agreement. The Company received these waivers from
      shareholders representing more than a majority of all outstanding securities
      issued in connection with the September 2005 private placement. In consideration
      for obtaining the waiver, the Company repriced the warrants issued to
      shareholders providing the waiver such that the exercise price of the warrants
      issued in connection with the September 2005 private placement was reduced
      from
      $3.00 to $1.00</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">The
      description of agreements and securities contained in this Form 8-K is qualified
      in its entirety by reference to the full text of the agreements and securities
      that the Company filed as exhibits to this Form 8-K, or which the Company will
      file as exhibits to the Company&#8217;s next periodic report. </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">This
      Form
      8-K contains forward-looking statements, such as statements about the Company&#8217;s
      plans, objectives, expectations, assumptions or future events, and including,
      but not limited to, statements about the Company&#8217;s anticipated use of proceeds
      from the January 2006 private placement. Forward-looking statements, including
      those set forth above, involve estimates, assumptions, and known and unknown
      risks and uncertainties. Actual future results and trends may differ materially
      from those made in or suggested by any forward-looking statements due to a
      variety of factors, including, for example, the Company&#8217;s ability to
      successfully market its products and compete with other products in its space,
      the risk of unfavorable federal regulation or the inability to obtain any
      necessary approvals to manufacture, market and sell its products, and the fact
      that its status as a development stage company makes its future unclear.
      Consequently investors should not place undue reliance on these forward-looking
      statements. The Company discusses many of these and other risks and
      uncertainties in greater detail in the filings it makes with the Securities
      and
      Exchange Commission, including in its most recent Report on Form 10-KSB and
      Form
      10-QSB. The information contained in any forward-looking statement is qualified
      in its entirety be reference to cautionary statements and risk factor disclosure
      contained in the Company&#8217;s other filings with the Securities and Exchange
      Commission. </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">&#160;</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"><strong>Item&#160;3.02</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>Unregistered
      Sales of Equity Securities.</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 style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">See
      the
      disclosure set forth in Item 1.01 above under the heading &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><em>Securities
      Purchase Agreement and Related Warrants, Escrow Agreement and Registration
      Rights Agreement</em></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;,
      which
      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: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      securities offered, issued and sold pursuant to the January 2006 private
      placement were not registered under the Securities Act of 1933, as amended,
      by
      reason of an exemption from the registration requirements under Section 4(2)
      and/or Rule 506 of Regulation D of the Securities Act, and may not be offered
      or
      sold in the United States absent registration or an applicable exemption from
      registration requirements. Pursuant to the terms of the Purchase Agreement,
      the
      Company was able to rely upon the representations and warranties provided by
      the
      investors contained therein. </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="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
      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>Election
      of Directors; Appointment of Principal Officers.</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 style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Effective
      January 26, 2006, </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">the
      Board
      of Directors of the Company appointed Richard D. Falcone, a current Board
      member, as the new President and Chief Executive Officer of the Company. Mr.
      Falcone, a certified public accountant, has served on the Company&#8217;s Board of
      Directors and as the Chairman of the Board&#8217;s Audit Committee since August 2005.
      He was recently Chief Financial Officer of The A Consulting Team, a publicly
      traded IT service and business process outsourcing company. Mr. Falcone was
      the
      Chief Financial Officer of Bed, Bath &amp; Beyond from 1990 to 1994, during
      which the company grew revenue from roughly $100 million to approximately $800
      million per year. Prior to this, Mr. Falcone also served as Director of
      International Operations and Finance for Tiffany &amp; Co., where he was
      instrumental in its global expansion; as Chief Financial Officer and Chief
      Operating Officer of NetGrocer, an online grocery and consumer product retail
      company; and as Chief Operating Officer of National Merchants Management, a
      retail, distribution and publishing company with a chain of 180 book stores.
      For
      a description of the terms of the proposed employment agreement with Mr. Falcone
      </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">see
      the
      disclosure set forth in Item 1.01 above under the heading &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><em>New
      Employment Agreement with Richard Falcone</em></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;,
      which
      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: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
      connection with the private placement discussed in Item 1.01 above, the Company
      has agreed to appoint an individual selected by the purchasers holding a
      majority of the units purchased in the private placement, and reasonably
      agreeable to the Company&#8217;s existing Board of Directors, to fill the current
      vacancy on the Company&#8217;s Board of Directors. The Company has also agreed to
      appoint such person to serve on the Compensation Committee and, if qualified,
      the Audit Committee. In addition, the Company has agreed to take all actions
      necessary to ensure that such person will be included on the Company&#8217;s slate of
      Board nominees submitted for a shareholder vote at the Company&#8217;s next scheduled
      annual meeting of shareholders. The Company anticipates that the new director
      will receive options for the Company&#8217;s common stock. In addition to the new
      Director, the Company has also agreed to permit the purchasers in the private
      placement to designate a person to attend and observe (in person or
      telephonically) presentations to and matters before the Company&#8217;s Board of
      Directors.</font></div>
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              <td align="left" valign="top" width="2%">
              </td>
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              <td align="left" valign="top" width="15%">&#160;</td>
              <td align="left" valign="top" width="2%">&#160;</td>
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              <td align="left" valign="top" width="2%">&#160;</td>
              <td align="left" valign="top" width="83%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font size="2">Form
                  of Warrant issued by Tasker Capital Corp.
                  pursuant to the Securities Purchase Agreement, dated as of January
                  26,
                  2006, by and among Tasker Capital Corp. and the Purchaser parties
                  thereto.</font></div>
              </td>
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                <div>&#160;</div>
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                Purchase Agreement, dated as of January 26, 2006, by and among Tasker
                Capital Corp. and the Purchaser parties thereto.</font></td>
            </tr>
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              <td align="left" valign="top" width="2%">&#160;</td>
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                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font size="2">Registration
                  Rights Agreement, dated as of
                  January 26, 2006, by and among Tasker Capital Corp. and the Purchaser
                  parties thereto.</font></div>
              </td>
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        </div>
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        <div style="WIDTH: 100%; TEXT-ALIGN: center">
        </div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
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        </div>
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    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 108pt; TEXT-INDENT: -108pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 108pt; TEXT-INDENT: -108pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>SIGNATURES</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="justify"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">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.</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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            <td width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">&#160;</font></td>
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            <td colspan="2">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: "><strong>TASKER
                CAPITAL CORP.</strong></font></div>
              <div><a name="BM_2_"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Registrant)</font></a></div>
            </td>
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            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">&#160;<br>&#160;</font></td>
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          <tr valign="top" bgcolor="#ffffff">
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">Date:&#160;February
              1, 2006</font></td>
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">By:&#160;&#160;</font></td>
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">/s/&#160;Robert
              D.
              Jenkins</font></td>
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            <td align="left">
              <hr style="COLOR: black" align="left" noshade size="2" width="80%"><font size="2">Robert
              D. Jenkins</font></td>
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            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">Chief
              Financial Officer</font></td>
          </tr>

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{"company-data": {"conformed-name": "TASKER CAPITAL CORP", "cik": "0001084557", "assigned-sic": "2844", "irs-number": "880426048", "state-of-incorporation": "NV", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-32019", "film-number": "06570249"}, "business-address": {"street1": "39 OLD RIDGEBURY ROAD", "street2": "SUITE 14", "city": "DANBURY", "state": "CT", "zip": "06810", "phone": "2037304350"}, "mail-address": {"street1": "39 OLD RIDGEBURY ROAD", "street2": "SUITE 14", "city": "DANBURY", "state": "CT", "zip": "06810"}}
SECURITIES
      AND EXCHANGE COMMISSION
Washington,
      D.C. 20549
FORM
      8-K
CURRENT
      REPORT
PURSUANT
      TO SECTION 13 OR 15(d) OF
THE
      SECURITIES EXCHANGE ACT OF 1934
Date
      of
      Report (Date of earliest event reported):
January
      26, 2006
TASKER
      CAPITAL CORP.
(Exact
      name of registrant as specified in its charter)
Nevada
000-32019
88-0426048
(State
                  or other jurisdiction of
incorporation)
(Commission
File
                  Number)
(IRS
                  Employer
Identification
                  Number)
39
      Old Ridgebury Road, Suite 14, Danbury, CT 06810-5116
(Address
      of principal executive offices, including zip code)
(203)
      730-4350
(Registrant's
      telephone number, including area code)
(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:
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))
Item
      1.01
Entry
      into a Material Definitive Agreement
Securities
      Purchase Agreement and Related Warrants, Escrow Agreement and Registration
      Rights Agreement
On
      January 26, 2006, Tasker Capital Corp. (the "Company"), entered into a
      Securities Purchase Agreement (the "Purchase Agreement") with accredited
      investors pursuant to which the Company sold 13,335,925 units consisting of
      one
      share of common stock and a warrant to purchase one share of common stock at
      an
      exercise price of $1.00 per share for $0.70 per unit. Emerging Growth Equities,
      Ltd., a Pennsylvania limited partnership, served as placement agent for the
      transaction. The gross proceeds to the Company at the closing of this private
      placement, exclusive of the exercise price of the warrants, were
      $9,335,150.80.
The
      warrants also include a cashless exercise provision pursuant to which the
      warrants may be exercised without payment in cash to the Company of the exercise
      price in the event that, at any time after one year from the date of the
      issuance of the warrant, there is no effective registration statement
      registering the resale of the shares of common stock underlying the
      warrants.
Pursuant
      to the Purchase Agreement, the Company agreed to several covenants, including
      the following: (i) the Company has agreed to take all actions necessary,
      including the preparation of proxy materials and solicitation of the Company's
      shareholders, to seek shareholder approval to increase the size of the existing
      Board of Directors of the Company from five to seven members; (ii) the Company
      has agreed to update, if necessary, and as soon as reasonably practicable,
      certain prospectuses filed with the Securities and Exchange Commission; (iii)
      the Company has agreed to take all action necessary to appoint an individual
      selected by the purchasers holding a majority of the units purchased in this
      private placement, and reasonably agreeable to the Company's existing Board of
      Directors, to fill the current vacancy on the Company's Board of Directors, to
      appoint such person to serve on the Compensation Committee and, if qualified,
      the Audit Committee, and to take all actions necessary to ensure that such
      person will be included on the Company's slate of Board nominees submitted for a
      shareholder vote at the Company's next scheduled annual meeting of shareholders;
      and (iv) the Company has agreed to permit the purchasers in this private
      placement to designate a person to attend and observe (in person or
      telephonically) presentations to and matters before the Company's Board,
      provided that such observer will remove himself or herself prior to any Board
      vote or taking of formal Board action, if such removal is requested by the
      Board.
On
      January 26, 2006, the Company also entered into an Escrow Agreement (the "Escrow
      Agreement"), pursuant to which the subscription amounts from each purchaser were
      placed into escrow pending release upon the happening of certain specified
      conditions. All of these conditions were either met or waived at the closing
      that occurred on January 26, 2006. The escrow conditions included not only
      the
      agreements by the Company set forth above, but also several additional covenants
      including the following: (i) the Company has agreed to use no more that $500,000
      of the proceeds raised in the January 2006 private placement as payment for
      the
      Company's past due payables existing as of December 31, 2005; (ii) the Company
      had to obtain a waiver of claims for liquidated damages relating to the
      Company's September 2005 private placement of securities from shareholders
      representing at least a majority of all outstanding securities issued in
      connection with the September 2005 private placement, and the Company had to
      reprice the warrants issued to shareholders providing the waiver such that
      the
      exercise price of the warrants issued in connection with the September 2005
      private placement was reduced from $3.00 to $1.00; and (iii) all of the current
      members of the Company's Board, with the exception of the Board member selected
      by the purchasers, had to subscribe for, in the aggregate, at least $150,000
      worth of common stock and warrants being sold in the private placement.
In
      addition to the Purchase Agreement and the Escrow Agreement, the Company also
      entered into a Registration Rights Agreement (the "Registration Rights
      Agreement"). Pursuant to the Registration Rights Agreement, the Company is
      required to file a registration statement covering the resale of the shares
      of
      common stock purchased pursuant to the Purchase Agreement and the shares of
      common stock receivable upon exercise of the warrants within 90 days after
      the
      closing of the private placement, and to have that registration statement
      declared effective within six months after the filing of the registration
      statement. The Company is also obligated to use its best efforts to respond
      to
      any comments of the SEC within fifteen calendar days of the receipt of comments.
      The Company is required to pay liquidated damages if the registration statement
      has not been filed or declared effective on or prior to the applicable deadline
      specified above, or if the Company fails to use best efforts to respond to
      SEC
      comments within fifteen calendar days. The Registration Rights Agreement
      requires the Company to pay the liquidated damages in additional common stock
      and warrants.
The
      Company has covenanted to use the net proceeds from the January 2006 private
      placement for working capital purposes, including poultry processing, seafood
      processing, Unifresh
Ô
Footbath
      concentrate, and Unifresh
Ô
Pen
      Spray concentrate and other products and/or businesses the Company deems
      necessary, and not for the satisfaction of any portion of the Company's past due
      payables outstanding as of December 31, 2005 (other than payment of past due
      payables outstanding as of December 31, 2005 in an amount not to exceed
      $500,000), to redeem any Company equity or equity-equivalent securities or
      to
      settle any outstanding litigation.
As
      compensation for acting as placement agent, Emerging Growth Equities, Ltd.
      received a cash payment equal to 6% of the gross proceeds from the private
      placement, and also received a warrant exercisable for shares of the Company's
      common stock in an amount equal to 6% of the gross proceeds from the sale of
      the
      shares and warrants divided by $0.70. The warrant to Emerging Growth Equities
      has an exercise price equal to $1.00 and is exercisable immediately for a term
      of five years.
New
      Employment Agreement with Richard Falcone
Effective
      on the closing of the private placement, the Board of Directors of the Company
      appointed Richard D. Falcone, a current Board member, as the new President
      and
      Chief Executive Officer of the Company. Although no formal employment agreement
      has been entered into, the Board has agreed, in principal, to the following
      terms: (i) Mr. Falcone will be paid a base salary of $275,000 per year; (ii)
      any
      bonus payments made to Mr. Falcone will be at the discretion of the Board;
      (iii)
      Mr. Falcone will be eligible to participate in the Company's existing benefit
      plans; and (iv) Mr. Falcone will have use of a Company car. In addition, the
      employment agreement will have a term of three years. If Mr. Falcone is
      terminated without cause, as defined in his employment agreement, or if he
      should resign for a good reason, as defined in his employment agreement, Mr.
      Falcone will be entitled to severance. The severance payable to Mr. Falcone
      is
      dependant on how long he has been employed at the Company, beginning with
      twenty-four months of base salary payable upon termination immediately after
      execution of his employment agreement, decreasing by one month for each month
      he
      remains employed at the Company, but subject to a minimum severance of twelve
      months of base salary.
In
      recognition of his service on the Executive Committee, and as incentive
      compensation for his new role as President and Chief Executive Officer, the
      Board also granted Mr. Falcone 2,200,000 stock options with an exercise price
      of
      $1.00. The options have a ten year term, less one day. Twenty-five percent
      (25%)
      of the options vested immediately, and the remainder vest in equal monthly
      installments over the two-year period from the date of grant.
Consulting
      Agreement with Gordon Davis
On
      January 26, 2006, the Company also approved a new consulting arrangement with
      Mr. Gordon Davis, the Company's Chairman of the Board of Directors. Mr. Davis
      will continue to serve as the Chairman and has also agreed to become a sales
      and
      marketing consultant to the Company. Although no formal consulting agreement
      has
      been entered into, the Board has agreed, in principal, to the following terms:
      (i) Mr. Davis will be paid $120,000 per year; and (ii) Mr. Davis will have
      use
      of a Company car for Company business. In addition, the consulting agreement
      will have a term of three years. If Mr. Davis is terminated without cause he
      will be entitled to severance in an amount equal to twelve months of pay
      pursuant to his consulting agreement. Mr. Davis will continue to receive
      remuneration for service on the Board of Directors.
In
      recognition of his service on the Executive Committee, and as incentive
      compensation for his new role as a sales and marketing consultant, the Board
      also granted Mr. Davis 1,750,000 stock options with an exercise price of $1.00.
      The options have a ten year term, less one day. Twenty-five percent (25%) of
      the
      options vested immediately, and the remainder vest in equal monthly installments
      over the two-year period from the date of grant.
Stock
      Option Grant to Mr. Zavagli
On
      January 26, 2006, in recognition of his service on the Executive Committee,
      and
      as compensation for his continuing role as a Director of the Company, the Board
      granted Mr. Zavagli 500,000 stock options with an exercise price of $1.00.
      The
      options have a ten year term, less one day. Twenty-five percent (25%) of the
      options vested immediately, and the remainder vest in equal monthly installments
      over the two-year period from the date of grant.
Amendments
      to License Agreement, Purchase Agreement and Promissory Note with Pharlo
      Entities
On
      January 26, 2006 the Company and its subsidiary, Tasker Products IP Holdings
      Corp. ("Tasker Products"), entered into a letter agreement with Indian River
      Labs, L.L.C. ("IRL"), Pharlo Citrus Technologies, Inc. ("PCTI"), Pharlo Citrus
      Properties Partnership, LLLP ("PCPP"), Florida Coastal Labs, LLC, formerly named
      Coast to Coast Laboratories ("C2C" and, together with IRL, PCTI and PCPP, the
"Sellers") and Pharlo IP, LLC ("Pharlo IP") that amended (i) the Patent and
      Technology Sub-License Agreement dated as of July 15, 2005 (the "Sub-License
      Agreement") by and among Pharlo IP, the Company and Tasker Products, (ii) the
      Asset Purchase Agreement dated as of July 15, 2005 (the "Asset Purchase
      Agreement") by and among the Company, Tasker Products and the Sellers, and (iii)
      the Promissory Note issued by the Company in favor of IRL on July 15, 2005
      in
      the principal amount of $1,931,973.37.
Sub-License
      Agreement
The
      Sub-License Agreement was amended to restructure the fees payable to Pharlo
      IP.
      Prior to the amendment, Pharlo IP had agreed to provide to the Company and
      Tasker IP Holdings technical assistance necessary to implement, refine and
      exploit the base patents for the pHarlo technology in the Company's fields of
      use. In consideration for the technical assistance, the Company and Tasker
      IP
      Holdings had agreed to pay to Pharlo IP, in advance, prior to the calendar
      quarter for which they are payable, certain research and development fees
      ("R&D Fees"). The R&D Fees were originally set at a fixed amount, and
      although subject to recovery in certain circumstances, were not dependant on
      sales of the Company's products until certain thresholds had been met.
The
      amendment restructures the R&D Fees so that they are (i) payable on a
      quarterly basis within 30 days after the end of each calendar quarter (ii)
      are
      based on gross sales of the Company (or its affiliates) of products using the
      pHarlo technology. For fiscal year 2006, the R&D Fees must not be less than
      $150,000 and are capped at $500,000. There are no other minimum R&D Fees
      payable after 2006, although R&D Fees for all subsequent years are capped at
      specified rates. In addition, the parties also agreed to certain amendments
      regarding the assignability of the Sub-License Agreement.
Asset
      Purchase Agreement and Promissory Note
The
      Asset
      Purchase Agreement was amended to allow the Company to acquire,
subject
      to certain conditions, limited partnership participating units in Phitex Ltd.
      LLLP ("Phitex") representing 10.0% of the then total outstanding general partner
      and limited partner participating units of Phitex. Prior to the issuance of
      the
      Phitex equity interests, (i) the prospectus that forms part of the registration
      statement covering the resale of the shares acquired by the Sellers in the
      July
      2005 acquisition must be amended or supplemented so that the Sellers can sell
      such shares for a period of 60 consecutive days; (ii) the Company must be in
      compliance with all of its obligations under the Asset Purchase Agreement
      (subject to certain exceptions); and (iii) the Company must enter into a lock-up
      and repurchase right agreement relating to its Phitex equity interests. Under
      the lock-up and repurchase right agreement, Phitex will retain the right to
      repurchase the Company's equity interests for a nominal amount upon a change of
      control of the Company. Phitex is the direct
one
      hundred percent owner of Pharlo IP. The letter agreement also effectuated
      technical amendments to the definition of "change of control" of the Company in
      the Asset Purchase Agreement and the Promissory Note.
Waivers
      of Liquidation Damages from Investors in the September 2005 Private
      Placement
In
      connection with the private placement described above, the Company also obtained
      waivers
of
      all
      claims for liquidated damages relating to the inability of the Company to have
      the registration statement registering resales of securities purchased in the
      September 2005 private placement declared effective by the deadline specified
      in
      the Registration Rights Agreement. The Company received these waivers from
      shareholders representing more than a majority of all outstanding securities
      issued in connection with the September 2005 private placement. In consideration
      for obtaining the waiver, the Company repriced the warrants issued to
      shareholders providing the waiver such that the exercise price of the warrants
      issued in connection with the September 2005 private placement was reduced
      from
      $3.00 to $1.00
The
      description of agreements and securities contained in this Form 8-K is qualified
      in its entirety by reference to the full text of the agreements and securities
      that the Company filed as exhibits to this Form 8-K, or which the Company will
      file as exhibits to the Company's next periodic report.
This
      Form
      8-K contains forward-looking statements, such as statements about the Company's
      plans, objectives, expectations, assumptions or future events, and including,
      but not limited to, statements about the Company's anticipated use of proceeds
      from the January 2006 private placement. Forward-looking statements, including
      those set forth above, involve estimates, assumptions, and known and unknown
      risks and uncertainties. Actual future results and trends may differ materially
      from those made in or suggested by any forward-looking statements due to a
      variety of factors, including, for example, the Company's ability to
      successfully market its products and compete with other products in its space,
      the risk of unfavorable federal regulation or the inability to obtain any
      necessary approvals to manufacture, market and sell its products, and the fact
      that its status as a development stage company makes its future unclear.
      Consequently investors should not place undue reliance on these forward-looking
      statements. The Company discusses many of these and other risks and
      uncertainties in greater detail in the filings it makes with the Securities
      and
      Exchange Commission, including in its most recent Report on Form 10-KSB and
      Form
      10-QSB. The information contained in any forward-looking statement is qualified
      in its entirety be reference to cautionary statements and risk factor disclosure
      contained in the Company's other filings with the Securities and Exchange
      Commission.
Item 3.02
Unregistered
      Sales of Equity Securities.
See
      the
      disclosure set forth in Item 1.01 above under the heading "
Securities
      Purchase Agreement and Related Warrants, Escrow Agreement and Registration
      Rights Agreement
",
      which
      is incorporated herein by reference.
The
      securities offered, issued and sold pursuant to the January 2006 private
      placement were not registered under the Securities Act of 1933, as amended,
      by
      reason of an exemption from the registration requirements under Section 4(2)
      and/or Rule 506 of Regulation D of the Securities Act, and may not be offered
      or
      sold in the United States absent registration or an applicable exemption from
      registration requirements. Pursuant to the terms of the Purchase Agreement,
      the
      Company was able to rely upon the representations and warranties provided by
      the
      investors contained therein.
Item
      5.02
Election
      of Directors; Appointment of Principal Officers.
Effective
      January 26, 2006,
the
      Board
      of Directors of the Company appointed Richard D. Falcone, a current Board
      member, as the new President and Chief Executive Officer of the Company. Mr.
      Falcone, a certified public accountant, has served on the Company's Board of
      Directors and as the Chairman of the Board's Audit Committee since August 2005.
      He was recently Chief Financial Officer of The A Consulting Team, a publicly
      traded IT service and business process outsourcing company. Mr. Falcone was
      the
      Chief Financial Officer of Bed, Bath & Beyond from 1990 to 1994, during
      which the company grew revenue from roughly $100 million to approximately $800
      million per year. Prior to this, Mr. Falcone also served as Director of
      International Operations and Finance for Tiffany & Co., where he was
      instrumental in its global expansion; as Chief Financial Officer and Chief
      Operating Officer of NetGrocer, an online grocery and consumer product retail
      company; and as Chief Operating Officer of National Merchants Management, a
      retail, distribution and publishing company with a chain of 180 book stores.
      For
      a description of the terms of the proposed employment agreement with Mr. Falcone
see
      the
      disclosure set forth in Item 1.01 above under the heading "
New
      Employment Agreement with Richard Falcone
",
      which
      is incorporated herein by reference.
In
      connection with the private placement discussed in Item 1.01 above, the Company
      has agreed to appoint an individual selected by the purchasers holding a
      majority of the units purchased in the private placement, and reasonably
      agreeable to the Company's existing Board of Directors, to fill the current
      vacancy on the Company's Board of Directors. The Company has also agreed to
      appoint such person to serve on the Compensation Committee and, if qualified,
      the Audit Committee. In addition, the Company has agreed to take all actions
      necessary to ensure that such person will be included on the Company's slate of
      Board nominees submitted for a shareholder vote at the Company's next scheduled
      annual meeting of shareholders. The Company anticipates that the new director
      will receive options for the Company's common stock. In addition to the new
      Director, the Company has also agreed to permit the purchasers in the private
      placement to designate a person to attend and observe (in person or
      telephonically) presentations to and matters before the Company's Board of
      Directors.
Item
      9.01
Financial
      Statements and Exhibits.
(c)
Exhibits.
The
      following exhibits are filed with this report:
Exhibit No.
Exhibit Description
4.1
Form
                  of Warrant issued by Tasker Capital Corp.
                  pursuant to the Securities Purchase Agreement, dated as of January
                  26,
                  2006, by and among Tasker Capital Corp. and the Purchaser parties
                  thereto.
10.1
Securities
                Purchase Agreement, dated as of January 26, 2006, by and among Tasker
                Capital Corp. and the Purchaser parties thereto.
10.2
Registration
                  Rights Agreement, dated as of
                  January 26, 2006, by and among Tasker Capital Corp. and the Purchaser
                  parties thereto.
SIGNATURES
Pursuant
      to the requirements of the Securities Exchange Act of 1934, the Registrant
      has
      duly caused this report to be signed on its behalf by the undersigned hereunto
      duly authorized.
TASKER
                CAPITAL CORP.
(Registrant)
Date: February
              1, 2006
By:
/s/ Robert
              D.
              Jenkins
Robert
              D. Jenkins
Chief
              Financial Officer