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

                                  May 27, 2005

                               NEWTECH BRAKE CORP.
               (Exact Name of Registrant as Specified in Charter)

          Delaware                      0-26949                  11-3500919
(State or other jurisdiction          (Commission               (IRS Employer
      of incorporation)              File Number)            Identification No.)


779 Industrial Blvd., Blainville, QC, Canada                       J7C 3V3
  (Address of principal executive offices)                       ----------
                                                                 (Zip code)

Registrant's telephone number, including area code:             (950) 434-6432

                                 Not Applicable
          (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:

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

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

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

|_|   Pre-commencement  communications  pursuant  to  Rule  13e-4(c)  under  the
      Exchange Act (17 CFR 240.13e-4(c))

<PAGE>

Item 1.01 Entry into a Material Definitive Agreement.

      On May  27,  2005,  NewTech  Brake  Corp.,  a  Delaware  corporation  (the
"Company")  entered into that certain Loan Agreement  (the "Loan  Agreement") by
and between the Company and Capital Power  International  Limited, a corporation
incorporated under the laws of Hong Kong ("Capital Power"). Pursuant to the Loan
Agreement,  Capital  Power agreed to loan the Company  $10,000,000  and purchase
$3,000,000  of the  Company's  common stock at a price per share equal to $0.76.
The  loan to the  Company  is in the  form of forty  (40)  Series A  convertible
debentures,  each  having a  principal  face  value  equal to  $250,000  with an
aggregate value of $10,000,000.  The Series A Convertible Debentures have a term
of five (5)  years  and have a fixed  return  on  investment  per year  equal to
$75,000.  The Company  shall pay the $75,000  return on  investment by retaining
$1.00 on each heavy duty brake sold  throughout the world by the Company and /or
its subsidiaries. The pro rata return on investment shall be paid monthly to the
holders of the Series A  Convertible  Debentures.  To secure the  payment of the
return on  investment  for the first  year,  an amount  representing  15% of the
principal  amount of the Series A Convertible  Debentures was paid at closing to
the  holders  of the  Series A  Convertible  Debentures.  Further,  the Series A
Convertible  Debentures  are  secured  by a  Moveable  Hypothec  (the  "Moveable
Hypothec")  already in existence and registered in first rank on the Register of
Moveable  Hypothec held be the Publicity  Office on the know how and  production
licenses of the Company  granted by NewTech  Group  International,  Inc. for the
sale and  production  of heavy duty brakes for trucks.  The Series A Convertible
Debentures  may be converted into shares of the Company's  common stock,  at the
sole option of the holder,  each year for a maximum of twenty  percent  (20%) of
the principal amount of the Series A Convertible Debenture at a conversion price
of $1 per  share.  Each  holder's  right to  convert  the  Series A  Convertible
Debentures expires two (2) months after the anniversary date of their respective
subscription;  however, each holder has the right, once during the five (5) year
term of the  Series A  Convertible  Debenture  to carry  forward  one (1) twenty
percent (20%) conversion right, which will then be distributed  equally over the
remaining term of the Series A Convertible  Debenture.  In addition, the Company
has the ability to issue  forty-eight  (48) Series B  Convertible  Debentures to
Capital  Power,  each  having a principal  face value equal to $250,000  with an
aggregate value of $12,000,000. Pursuant to a Commitment Letter, dated March 29,
2005 by and  between  the  Company  and  Capital  Power,  the  Company has until
February  28, 2006 to issue the Series B  Convertible  Debentures.  The Moveable
Hypothec  will secure the Company's  obligations  under the Series B Convertible
Debentures when issued.

Item 3.02 Unregistered Sales of Equity Securities

      See Item 1.01 above.

Item 9.01. Financial Statements and Exhibits.

      (a) Not applicable

      (b) Not applicable

      (c) Exhibit No. Description


<TABLE>
<CAPTION>
Exhibit          Description                                      Location
-------          -----------                                      --------
<S>              <C>                                              <C>
Exhibit 99.1     Loan  Agreement,  dated May 27,  2005 by and     Provided herewith
                 between  the   Company  and  Capital   Power
                 International Limited

Exhibit 99.2     Form of Series A Convertible Debenture           Provided herewith

Exhibit 99.3     Terms and Conditions of the Debentures           Provided herewith

Exhibit 99.4     Movable Hypothec by the Company                  Provided herewith
</TABLE>


                        2
<PAGE>

                                   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.


Date:    May 31, 2005                  NEWTECH BRAKE CORP.



                                       By:     /s/ Yvon Rancourt
                                               ---------------------------------
                                       Name:   Yvon Rancourt
                                       Title:  Chief Executive Officer


                                       3
{"company-data": {"conformed-name": "NEWTECH BRAKE CORP", "cik": "0001080008", "assigned-sic": "3714", "irs-number": "113500919", "state-of-incorporation": "DE", "fiscal-year-end": "0228"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-26949", "film-number": "05870048"}, "business-address": {"street1": "779 INDUSTRIEL BLVD.", "city": "BLAINVILLE", "state": "A8", "zip": "J7C 3V3", "phone": "450 434 6432"}, "mail-address": {"street1": "779 INDUSTRIEL BLVD.", "city": "BLAINVILLE", "state": "A8", "zip": "J7C 3V3"}, "former-company": {"former-conformed-name": "INTERNET VIP INC", "date-changed": "19990805"}}
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

                                  May 27, 2005

                               NEWTECH BRAKE CORP.
               (Exact Name of Registrant as Specified in Charter)

          Delaware                      0-26949                  11-3500919
(State or other jurisdiction          (Commission               (IRS Employer
      of incorporation)              File Number)            Identification No.)

779 Industrial Blvd., Blainville, QC, Canada                       J7C 3V3
  (Address of principal executive offices)                       ----------
                                                                 (Zip code)

Registrant's telephone number, including area code:             (950) 434-6432

                                 Not Applicable
          (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:

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

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

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

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

      On May  27,  2005,  NewTech  Brake  Corp.,  a  Delaware  corporation  (the
"Company")  entered into that certain Loan Agreement  (the "Loan  Agreement") by
and between the Company and Capital Power  International  Limited, a corporation
incorporated under the laws of Hong Kong ("Capital Power"). Pursuant to the Loan
Agreement,  Capital  Power agreed to loan the Company  $10,000,000  and purchase
$3,000,000  of the  Company's  common stock at a price per share equal to $0.76.
The  loan to the  Company  is in the  form of forty  (40)  Series A  convertible
debentures,  each  having a  principal  face  value  equal to  $250,000  with an
aggregate value of $10,000,000.  The Series A Convertible Debentures have a term
of five (5)  years  and have a fixed  return  on  investment  per year  equal to
$75,000.  The Company  shall pay the $75,000  return on  investment by retaining
$1.00 on each heavy duty brake sold  throughout the world by the Company and /or
its subsidiaries. The pro rata return on investment shall be paid monthly to the
holders of the Series A  Convertible  Debentures.  To secure the  payment of the
return on  investment  for the first  year,  an amount  representing  15% of the
principal  amount of the Series A Convertible  Debentures was paid at closing to
the  holders  of the  Series A  Convertible  Debentures.  Further,  the Series A
Convertible  Debentures  are  secured  by a  Moveable  Hypothec  (the  "Moveable
Hypothec")  already in existence and registered in first rank on the Register of
Moveable  Hypothec held be the Publicity  Office on the know how and  production
licenses of the Company  granted by NewTech  Group  International,  Inc. for the
sale and  production  of heavy duty brakes for trucks.  The Series A Convertible
Debentures  may be converted into shares of the Company's  common stock,  at the
sole option of the holder,  each year for a maximum of twenty  percent  (20%) of
the principal amount of the Series A Convertible Debenture at a conversion price
of $1 per  share.  Each  holder's  right to  convert  the  Series A  Convertible
Debentures expires two (2) months after the anniversary date of their respective
subscription;  however, each holder has the right, once during the five (5) year
term of the  Series A  Convertible  Debenture  to carry  forward  one (1) twenty
percent (20%) conversion right, which will then be distributed  equally over the
remaining term of the Series A Convertible  Debenture.  In addition, the Company
has the ability to issue  forty-eight  (48) Series B  Convertible  Debentures to
Capital  Power,  each  having a principal  face value equal to $250,000  with an
aggregate value of $12,000,000. Pursuant to a Commitment Letter, dated March 29,
2005 by and  between  the  Company  and  Capital  Power,  the  Company has until
February  28, 2006 to issue the Series B  Convertible  Debentures.  The Moveable
Hypothec  will secure the Company's  obligations  under the Series B Convertible
Debentures when issued.

Item 3.02 Unregistered Sales of Equity Securities

      See Item 1.01 above.

Item 9.01. Financial Statements and Exhibits.

      (a) Not applicable

      (b) Not applicable

      (c) Exhibit No. Description
Exhibit          Description                                      Location
-------          -----------                                      --------
Exhibit 99.1     Loan  Agreement,  dated May 27,  2005 by and     Provided herewith
                 between  the   Company  and  Capital   Power
                 International Limited

Exhibit 99.2     Form of Series A Convertible Debenture           Provided herewith

Exhibit 99.3     Terms and Conditions of the Debentures           Provided herewith

Exhibit 99.4     Movable Hypothec by the Company                  Provided herewith
2
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.

Date:    May 31, 2005                  NEWTECH BRAKE CORP.

                                       By:     /s/ Yvon Rancourt
                                               ---------------------------------
                                       Name:   Yvon Rancourt
                                       Title:  Chief Executive Officer

                                       3