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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"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>WASHINGTON,
      DC 20549</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></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="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"><br></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="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>CURRENT
      REPORT PURSUANT</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>TO
      SECTION 13 OR 15(D) OF THE</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
      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"><br></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="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"><u>July
      20, 2005</u></font></div>
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                Television Holdings, 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="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Exact
                Name of Registrant as Specified in Its Charter)</font></div>
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                or Other Jurisdiction</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">of
                Incorporation)</font></div>
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                File 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">(IRS
                Employer Identification No.)</font></div>
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            <td colspan="2" valign="top" width="33%">&#160;</td>
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          <tr>
            <td valign="top" width="33%">&#160;</td>
            <td colspan="2" valign="top" width="34%">&#160;</td>
            <td colspan="2" valign="top" width="33%">&#160;</td>
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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">800
                S. Ocean Blvd., L1, Boca Raton, FL</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">33432</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">(Address
                of Principal Executive Offices)</font></div>
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            <td colspan="2" valign="top" width="34%">&#160;</td>
            <td colspan="2" valign="top" width="33%">
              <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">(Zip
                Code)</font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="33%">&#160;</td>
            <td colspan="2" valign="top" width="34%">&#160;</td>
            <td colspan="2" valign="top" width="33%">&#160;</td>
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          <tr>
            <td colspan="5" valign="top" width="100%" style="BORDER-BOTTOM: black thin solid">
              <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">(561)
                395-9973</font></div>
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            <td colspan="5" valign="top" width="100%">
              <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">(</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Registrant&#8217;s
                Telephone Number, Including Area Code)</font></div>
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          <tr>
            <td colspan="2" valign="top" width="67%">&#160;</td>
            <td colspan="3" valign="top" width="33%">&#160;</td>
          </tr>
          <tr>
            <td colspan="4" valign="top" width="100%" style="BORDER-BOTTOM: black thin solid">
              <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">1811
                Chestnut Street, Suite 120, Philadelphia, Pennsylvania</font></div>
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            <td valign="top" width="11%" style="BORDER-BOTTOM: black thin solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">19103</font></div>
            </td>
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          <tr>
            <td colspan="5" valign="top" width="100%">
              <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>
            </td>
          </tr>

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    <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: 18pt; 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 (</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><em>see
      </em></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">General
      Instruction A.2. below):</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Wingdings">o</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><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>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Wingdings">o</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><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
      240.14a-12)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Wingdings">o</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">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: 18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Wingdings">o</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pre-commencement
      communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c))</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; 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">&#160;</div>
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    <div>&#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
      8.01 </strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 36.8pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Other
      Events</strong></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
      May 22, 2005, 360 Onboard Limited, our wholly-owned United Kingdom subsidiary
      (&#8220;360&#8221;) ceased operations of its system on Central Trains, Ltd. (&#8220;Central&#8221;) when
      it became clear that it had insufficient near term revenue prospects to cover
      the ongoing cost of operations, particularly daily content procurement and
      delivery. 360 and we have agreed in principle to sell the system to Central
      for
      GPB&#163;1 in exchange for Central&#8217;s waiver of concession fees that may be owed to
      them and 360&#8217;s potential obligation to remove the system. However, we will not
      consummate the transaction unless certain proposed terms relating to our
      post-sale liability are resolved to our satisfaction. If we are unable to reach
      an agreement with Central, we face the prospect of Central seeking to require
      360 to remove its equipment from Central&#8217;s trains. The execution of this request
      would cost 360 an estimated GBP&#163;100,000 to &#163;150,000 or more, an amount that
      exceeds our current financial capacity. The cost to remove the equipment would
      likely exceed the sale value of such equipment once removed. </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">At
      the
      present time, we have virtually run out of funds to support our UK operation
      and
      are at risk of incurring new liabilities with no realistic probability of being
      able to meet these obligations. On July 18, 2005, we had insufficient funds
      to
      meet our payment obligation of &#163;28,800 to the Inland Revenue of the United
      Kingdom. Typically, a company is granted a one week grace period to meet this
      obligation, which only provides us with a few more days to resolve this
      issue.</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">Furthermore,
      we are poorly capitalized to execute our original business model and have given
      notice of termination to all but three employees of 360. Notice periods range
      from one to three months, with one employee having six months. These notice
      periods contractually obligate 360 to pay the employees&#8217; salaries and benefits
      during the notice period, unless they secure other employment during such
      time.</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">We
      also
      owe our trade creditors approximately $750,000 primarily as a result of our
      aborted AIM flotation effort and the monetary penalties owed to our Series
      A-1
      Preferred Stock investors. Such figure does not include compensation deferred
      by
      our executive officers since September 2004. In addition, we have outstanding
      almost $1.8 million in bridge promissory notes that can be called at any time.
      </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">Because
      of our liquidity crisis, funds that would have been earmarked for the audit
      of
      our financial statements for our fiscal year ended December 31, 2004, have
      been
      diverted to our UK operations. As such, we are delinquent in filing our Annual
      Report on Form 10-KSB for the fiscal year ended December 31, 2004 and our
      Quarterly Report on Form 10-QSB for the quarter ended March 31, 2005. As a
      result of these late filings, we have been delisted from the Over-the-Counter
      Bulletin Board (&#8220;OTCBB&#8221;) and are now listed on the &#8220;pink sheets&#8221;. Additionally,
      we are now late with respect to the filing of our registration statement in
      connection with our recently completed Series A-1 Preferred Stock financing
      and
      have incurred monetary penalties with the investors that participated in the
      financing. </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">Our
      problems with Central and our failure to fulfill other contractual obligations
      of TNCI UK Ltd., our predecessor UK subsidiary, has seriously damaged our
      reputation in the UK. We believe, however, that the market opportunity for
      passenger information and entertainment is still quite large and lucrative
      and,
      in due course, systems will become mainstream throughout parts of Europe, Asia
      and North America. We recognize that the risks and costs are too steep to be
      successful with the business model with which we initially went to market.
      Furthermore, with advanced service offerings, such as Wi-Fi, CCTV and messaging,
      that are now more readily available, a bundled offering is more attractive
      to
      train operators. Additionally, the unfortunate events that took place in London
      on July 7, 2005 will very likely result in a heightened interest by TOCs for
      a
      passenger information system that provides real time or near real time two-way
      communication and security surveillance capabilities. </font></div>
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    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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      <div id="HDR">
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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="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Based
      on
      360&#8217;s reputation in the market, its financial situation and the risks associated
      with the currently proposed agreement with Central, we have concluded that,
      absent the receipt of additional financing by July 27, 2005, it is in our best
      interests to formally shut down 360. According to the terms of the Series A-1
      financing, the investors hold a security interest over the assets of
      360.</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">With
      respect to TNX, we believe that we need a capital infusion of approximately
      $1,000,000 to stay in business and regain compliance with our public company
      reporting obligations, including at least $200,000 to complete the audit of
      our
      financial statements, complete and file our late annual and quarterly filings
      and registration statement relating to our recently completed Series A-1
      financing and become listed again on the OTCBB. The balance of the funds would
      be used to cover operational costs and the settlement of claims of trade
      creditors. Given that we currently have no business or operations, these
      measures would constitute a restart of the company and we will require the
      funds
      immediately in order to demonstrate adequate financial stability to go forward.
      We expect that the new capital will be used for, among other things, to try
      to
      create strategic partnerships with established companies that have developed
      products and/ or services that meet the needs of the transportation industry.
      Accordingly, we plan to ask certain of our existing stockholders, including
      certain members of management, for an additional investment in the company.
      The
      completion of this additional financing, if it occurs, would significantly
      dilute our current stockholder base. If we do not consummate this investment,
      we
      may be compelled to liquidate 360 in the UK and simultaneously have TNX file
      for
      bankruptcy in the U.S. and our stockholders would likely receive little or
      no
      value for their current investment. There can be no assurance that we will
      consummate an additional financing in terms favorable to us or at
      all.</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>SIGNATURES</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant
      to the requirements of the Securities Exchange Act of 1934, the Registrant
      has
      duly caused this report to be signed on its behalf by the undersigned thereunto
      duly authorized.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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              <td width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
              <td width="49%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
            </tr>
            <tr valign="top" bgcolor="#ffffff">
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
              <td colspan="2"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>TNX
                TELEVISION HOLDINGS, INC.</strong></font></strong></font></td>
            </tr>
            <tr valign="top" bgcolor="#ffffff">
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;<br>&#160;</font></td>
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;<br>&#160;</font></td>
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;<br>&#160;</font></td>
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            <tr valign="top" bgcolor="#ffffff">
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date:
                July 20, 2005</font></td>
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">By:&#160;&#160;</font></td>
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">/s/
                Irwin L. Gross</font></td>
            </tr>
            <tr valign="top" bgcolor="#ffffff">
              <td colspan="2"><font style="FONT-FAMILY: Times New Roman" size="1">&#160;</font></td>
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              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Name:
                Irwin L. Gross<br><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Title:
                Chief Executive Officer</font></font></td>
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      332793v1</font></div>
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{"company-data": {"conformed-name": "TNX TELEVISION HOLDINGS INC", "cik": "0001156867", "assigned-sic": "4833", "irs-number": "954868287", "state-of-incorporation": "NV", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-33313", "film-number": "05963539"}, "business-address": {"street1": "1811 CHESTNUT STREET", "street2": "SUITE 120", "city": "PHILADELPHIA", "state": "PA", "zip": "19103", "phone": "(215) 972-8191"}, "mail-address": {"street1": "1811 CHESTNUT STREET", "street2": "SUITE 120", "city": "PHILADELPHIA", "state": "PA", "zip": "19103"}, "former-company": [{"former-conformed-name": "TNX TELEVISION HOLDINGS", "date-changed": "20040227"}, {"former-conformed-name": "SZM DISTRIBUTORS INC", "date-changed": "20010807"}]}
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)
July
      20, 2005
TNX
                Television Holdings, Inc.
(Exact
                Name of Registrant as Specified in Its Charter)
Delaware
(State
                or Other Jurisdiction
of
                Incorporation)
000-33313
95-4868287
(Commission
                File Number)
(IRS
                Employer Identification No.)
800
                S. Ocean Blvd., L1, Boca Raton, FL
33432
(Address
                of Principal Executive Offices)
(Zip
                Code)
(561)
                395-9973
(
Registrant's
                Telephone Number, Including Area Code)
1811
                Chestnut Street, Suite 120, Philadelphia, Pennsylvania
19103
(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))
Item
      8.01
Other
      Events
Effective
      May 22, 2005, 360 Onboard Limited, our wholly-owned United Kingdom subsidiary
      ("360") ceased operations of its system on Central Trains, Ltd. ("Central") when
      it became clear that it had insufficient near term revenue prospects to cover
      the ongoing cost of operations, particularly daily content procurement and
      delivery. 360 and we have agreed in principle to sell the system to Central
      for
      GPB£1 in exchange for Central's waiver of concession fees that may be owed to
      them and 360's potential obligation to remove the system. However, we will not
      consummate the transaction unless certain proposed terms relating to our
      post-sale liability are resolved to our satisfaction. If we are unable to reach
      an agreement with Central, we face the prospect of Central seeking to require
      360 to remove its equipment from Central's trains. The execution of this request
      would cost 360 an estimated GBP£100,000 to £150,000 or more, an amount that
      exceeds our current financial capacity. The cost to remove the equipment would
      likely exceed the sale value of such equipment once removed.
At
      the
      present time, we have virtually run out of funds to support our UK operation
      and
      are at risk of incurring new liabilities with no realistic probability of being
      able to meet these obligations. On July 18, 2005, we had insufficient funds
      to
      meet our payment obligation of £28,800 to the Inland Revenue of the United
      Kingdom. Typically, a company is granted a one week grace period to meet this
      obligation, which only provides us with a few more days to resolve this
      issue.
Furthermore,
      we are poorly capitalized to execute our original business model and have given
      notice of termination to all but three employees of 360. Notice periods range
      from one to three months, with one employee having six months. These notice
      periods contractually obligate 360 to pay the employees' salaries and benefits
      during the notice period, unless they secure other employment during such
      time.
We
      also
      owe our trade creditors approximately $750,000 primarily as a result of our
      aborted AIM flotation effort and the monetary penalties owed to our Series
      A-1
      Preferred Stock investors. Such figure does not include compensation deferred
      by
      our executive officers since September 2004. In addition, we have outstanding
      almost $1.8 million in bridge promissory notes that can be called at any time.
Because
      of our liquidity crisis, funds that would have been earmarked for the audit
      of
      our financial statements for our fiscal year ended December 31, 2004, have
      been
      diverted to our UK operations. As such, we are delinquent in filing our Annual
      Report on Form 10-KSB for the fiscal year ended December 31, 2004 and our
      Quarterly Report on Form 10-QSB for the quarter ended March 31, 2005. As a
      result of these late filings, we have been delisted from the Over-the-Counter
      Bulletin Board ("OTCBB") and are now listed on the "pink sheets". Additionally,
      we are now late with respect to the filing of our registration statement in
      connection with our recently completed Series A-1 Preferred Stock financing
      and
      have incurred monetary penalties with the investors that participated in the
      financing.
Our
      problems with Central and our failure to fulfill other contractual obligations
      of TNCI UK Ltd., our predecessor UK subsidiary, has seriously damaged our
      reputation in the UK. We believe, however, that the market opportunity for
      passenger information and entertainment is still quite large and lucrative
      and,
      in due course, systems will become mainstream throughout parts of Europe, Asia
      and North America. We recognize that the risks and costs are too steep to be
      successful with the business model with which we initially went to market.
      Furthermore, with advanced service offerings, such as Wi-Fi, CCTV and messaging,
      that are now more readily available, a bundled offering is more attractive
      to
      train operators. Additionally, the unfortunate events that took place in London
      on July 7, 2005 will very likely result in a heightened interest by TOCs for
      a
      passenger information system that provides real time or near real time two-way
      communication and security surveillance capabilities.
Based
      on
      360's reputation in the market, its financial situation and the risks associated
      with the currently proposed agreement with Central, we have concluded that,
      absent the receipt of additional financing by July 27, 2005, it is in our best
      interests to formally shut down 360. According to the terms of the Series A-1
      financing, the investors hold a security interest over the assets of
      360.
With
      respect to TNX, we believe that we need a capital infusion of approximately
      $1,000,000 to stay in business and regain compliance with our public company
      reporting obligations, including at least $200,000 to complete the audit of
      our
      financial statements, complete and file our late annual and quarterly filings
      and registration statement relating to our recently completed Series A-1
      financing and become listed again on the OTCBB. The balance of the funds would
      be used to cover operational costs and the settlement of claims of trade
      creditors. Given that we currently have no business or operations, these
      measures would constitute a restart of the company and we will require the
      funds
      immediately in order to demonstrate adequate financial stability to go forward.
      We expect that the new capital will be used for, among other things, to try
      to
      create strategic partnerships with established companies that have developed
      products and/ or services that meet the needs of the transportation industry.
      Accordingly, we plan to ask certain of our existing stockholders, including
      certain members of management, for an additional investment in the company.
      The
      completion of this additional financing, if it occurs, would significantly
      dilute our current stockholder base. If we do not consummate this investment,
      we
      may be compelled to liquidate 360 in the UK and simultaneously have TNX file
      for
      bankruptcy in the U.S. and our stockholders would likely receive little or
      no
      value for their current investment. There can be no assurance that we will
      consummate an additional financing in terms favorable to us or at
      all.
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.
TNX
                TELEVISION HOLDINGS, INC.
Date:
                July 20, 2005
By:
/s/
                Irwin L. Gross
Name:
                Irwin L. Gross
Title:
                Chief Executive Officer
NYC
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