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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><a name="fis_unidentified_table"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>UNITED
      STATES </strong></font></a></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: 12pt; 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: 12pt; FONT-FAMILY: Times New Roman">Washington,
      D.C. 20549 </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="center"><font style="DISPLAY: inline; FONT-SIZE: 14pt; 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="left"><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 </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>Pursuant
      to Section 13 OR 15(d) of 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"><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>Date
      of Report (Date of earliest event reported): July 21, 2006</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="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong><u>INNOVA
      HOLDINGS, INC.</u></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">(Exact
      name of registrant as specified in its charter) </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div align="center">
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            <td width="30%" style="border-bottom: black thin solid;">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font size="2">Delaware</font></div>
            </td>
            <td width="5%" style="border-bottom: black thin solid;">&#160;</td>
            <td width="30%" style="border-bottom: black thin solid;">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font size="2">000-33231</font></div>
            </td>
            <td width="5%" style="border-bottom: black thin solid;">&#160;</td>
            <td width="30%" style="border-bottom: black thin solid;">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font size="2">95-4868120</font></div>
            </td>
          </tr>
          <tr bgcolor="white">
            <td width="30%">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font size="2">(State
                or other jurisdiction</font></div>
            </td>
            <td width="5%">&#160;</td>
            <td width="30%">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font size="2">(Commission
                File Number)</font></div>
            </td>
            <td width="5%">&#160;</td>
            <td width="30%">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font size="2">(IRS
                Employer</font></div>
            </td>
          </tr>
          <tr bgcolor="white">
            <td width="30%">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font size="2">of
                incorporation) </font></div>
            </td>
            <td width="5%">&#160;</td>
            <td width="30%">&#160;</td>
            <td width="5%">&#160;</td>
            <td width="30%">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font size="2">Identification
                No.)</font></div>
            </td>
          </tr>

      </table>
    </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"><u>17105
      San Carlos Boulevard, Suite A6151, Fort Myers, Florida 33931</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</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">(Address
      of principal executive offices and Zip Code) </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><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">Registrant's
      telephone number, including area code (239) 466-0488</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><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">Copies
      to:</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">Gregory
      Sichenzia, Esq.</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">Eric
      A.
      Pinero, Esq.</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">Sichenzia
      Ross Friedman Ference LLP</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">1065
      Avenue of the Americas</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">New
      York,
      New York 10018</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">Phone:
      (212) 930-9700</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">Fax:
      (212) 930-9725</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">Check
      the
      appropriate box below if the Form 8-K filing is intended to simultaneously
      satisfy the filing obligation of the registrant under any of the following
      provisions (see General Instruction A.2. below):</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="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"><font style="DISPLAY: inline; FONT-FAMILY: Wingdings">o</font>&#160;Written
      communications pursuant to Rule 425 under the Securities Act (17 CFR
      230.425)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="FONT-FAMILY: Wingdings">o</font>&#160;Soliciting
      material pursuant to
      Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="FONT-FAMILY: Wingdings">o</font>&#160;Pre-commencement
      communications
      pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b))</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="FONT-FAMILY: Wingdings">o</font>&#160;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: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><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"><strong>Item
      1.01 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="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">On
      July
      21, 2006, Innova Holdings, Inc. (the "Company") consummated a Securities
      Purchase Agreement (the "Purchase Agreement") dated July 21, 2006 with Cornell
      Capital Partners L.P. ("Cornell") providing for the sale by the Company to
      Cornell of its 10% secured convertible debentures in the aggregate principal
      amount of $2,825,000 (the "Debentures") of which $1,250,000 was advanced
      immediately. The second installment of $575,000 will be advanced on the date
      of
      the filing by the Company with the Securities and Exchange Commission (the
      "Commission") of the Registration Statement (as defined below). The last
      installment of $1,000,000 will be advanced three business days after the date
      the Registration Statement is declared effective by the Commission.
</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
      Debentures mature on the third anniversary of the date of issuance (the
      "Maturity Date"). The holder of the Debentures may convert at any time amounts
      outstanding under the Debentures into shares of common stock of the Company
      (the
      "Common Stock") at a fixed conversion price per share equal to $0.04 (the
&#8220;Conversion Price&#8221;). Cornell has agreed not to short any of the shares of Common
      Stock. The Company's obligations under the Purchase Agreement are secured by
      substantially all of the Company's, and its wholly owned subsidiary&#8217;s (Coroware
      Technologies, Inc.) assets. </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">Under
      the
      Purchase Agreement, the Company also issued to Cornell five-year warrants to
      purchase 10,000,000 and 15,000,000 shares of Common Stock at a price equal
      to
      $0.05 and $0.10, respectively, together with three-year warrants to purchase
      23,000,000, 20,000,000 and 25,000,000 shares of Common Stock at a price equal
      to
      $0.025, $0.065 and $0.075, respectively (collectively, the "Warrants").
</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 Purchase Agreement, the Company also entered into a
      registration rights agreement with Cornell (the "Registration Rights Agreement")
      providing for the filing of a registration statement (the "Registration
      Statement") with the Securities and Exchange Commission registering the Common
      Stock issuable upon conversion of the Debentures and exercise of the Warrants.
      The Company is obligated to use its best efforts to cause the Registration
      Statement to be filed no later than 30 days after the closing date. In the
      event
      of a default of its obligations under the Registration Rights Agreement,
      including its agreement to file the Registration Statement with the Commission
      no later than 30 days after the closing date, or if the Registration Statement
      is not declared effective within 120 days after the closing date, it is required
      to pay to Cornell, as liquidated damages, for each month that the registration
      statement has not been filed or declared effective, as the case may be, either
      a
      cash amount or shares of our common stock equal to 2% of the liquidated value
      of
      the Debentures. </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
      Company claims an exemption from the registration requirements of the Act for
      the private placement of these securities pursuant to Section 4(2) of the Act
      and/or Regulation D promulgated thereunder since, among other things, the
      transaction did not involve a public offering, Cornell is an accredited investor
      and/or qualified institutional buyer, Cornell had access to information about
      the Company and its investment, Cornell took the securities for investment
      and
      not resale, and the Company took appropriate measures to restrict the transfer
      of the securities.</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="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
      July
      25, 2006, the Company issued a press release announcing the entry into the
      Securities Purchase Agreement with Cornell, a copy of which is attached hereto
      as Exhibit 99.1.</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; 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
        accordance with General Instruction B.2 of Form 8-K, the information in this
        Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed to
        be
&#8220;filed&#8221; for purposes of Section 18 of the Securities Exchange Act of 1934, as
        amended (the &#8220;Exchange Act&#8221;), or otherwise subject to the liability of that
        section, and shall not be incorporated by reference into any registration
        statement or other document filed under the Act or the Exchange Act, except
        as
        shall be expressly set forth by specific reference in such filing.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    </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
      1.02 Termination of a Material Definitive Agreement. </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="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">On
      July
      21, 2006, the Company terminated the Standby Equity Distribution Agreement
      (the
&#8220;SEDA&#8221;) dated June 14, 2005 with Cornell, together with all of the definitive
      agreements related thereto. In addition, on July 21, 2006 Cornell agreed to
      terminate the promissory note in the remaining principal amount of $80,000
      in
      exchange for the Company&#8217;s issuance of 4,848,500 shares of Common Stock to
      Cornell.</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"><a name="fis_financial_obligation_material"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
      2.03 Creation of a Direct Financial Obligation. </strong></font></a></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: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">See
      Item
      1.01 above.</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"><a name="fis_sale_of_equity"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
      3.02 Unregistered Sales of Equity Securities. </strong></font></a></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 id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">See
      Item
      1.01 above.</font></div>
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    <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="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
      9.01 Financial Statements and Exhibits.</strong></font></div>
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              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Financial
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                acquired.</strong></font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
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      applicable.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
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              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Pro
                forma financial
                information.</strong></font></div>
            </td>
          </tr>

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    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Not
      applicable.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top" style="line-height: 1.25;">
            <td align="right" style="width: 36pt;"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>(c)&#160;&#160;</strong></font></td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Exhibits.</strong></font></div>
            </td>
          </tr>

      </table>
    </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">&#160;</div>
    <div align="center">
      <table bgcolor="white" cellpadding="0" cellspacing="0" width="100%">

          <tr bgcolor="white">
            <td width="10%" style="border-bottom: black thin solid;"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Exhibit</font>
              <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">Number</font></div>
            </td>
            <td width="4%" style="border-bottom: #ffffff solid;">&#160;</td>
            <td valign="bottom" width="86%" style="border-bottom: black thin solid;"><font size="2">Description</font></td>
          </tr>
          <tr bgcolor="white">
            <td width="10%"><font size="2">10.1</font></td>
            <td width="4%">&#160;</td>
            <td width="86%"><font size="2">Convertible Debenture dated July 21,
              2006</font></td>
          </tr>
          <tr bgcolor="white">
            <td width="10%"><font size="2">10.2</font></td>
            <td width="4%">&#160;</td>
            <td width="86%"><font size="2">Form of $0.05 Warrant</font></td>
          </tr>
          <tr bgcolor="white">
            <td width="10%"><font size="2">10.3</font></td>
            <td width="4%">&#160;</td>
            <td width="86%"><font size="2">Form of $0.10 Warrant</font></td>
          </tr>
          <tr bgcolor="white">
            <td width="10%"><font size="2">10.4</font></td>
            <td width="4%">&#160;</td>
            <td width="86%"><font size="2">Form of $0.025 Warrant</font></td>
          </tr>
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            <td width="10%"><font size="2">10.5</font></td>
            <td width="4%">&#160;</td>
            <td width="86%"><font size="2">Form of $0.065 Warrant</font></td>
          </tr>
          <tr bgcolor="white">
            <td width="10%"><font size="2">10.6</font></td>
            <td width="4%">&#160;</td>
            <td width="86%"><font size="2">Form of $0.075 Warrant</font></td>
          </tr>
          <tr bgcolor="white">
            <td width="10%"><font size="2">10.7</font></td>
            <td width="4%">&#160;</td>
            <td width="86%"><font size="2">Securities Purchase Agreement dated
              July 21,
              2006 between the</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Company
              and Cornell</font></td>
          </tr>
          <tr bgcolor="white">
            <td width="10%"><font size="2">10.8</font></td>
            <td width="4%">&#160;</td>
            <td width="86%"><font size="2">Investor Registration Rights Agreement
              dated
              July 21, 2006 between the Company and Cornell</font></td>
          </tr>
          <tr bgcolor="white">
            <td width="10%"><font size="2">10.9</font></td>
            <td width="4%">&#160;</td>
            <td width="86%"><font size="2">Security Agreement dated July 21, 2006
              by and
              between the&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Company
              and Cornell</font></td>
          </tr>
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            <td width="10%"><font size="2">10.10</font></td>
            <td width="4%">&#160;</td>
            <td width="86%"><font size="2">Subsidiary Security Agreement dated
              July 21,
              2006 by and between Coroware Technologies, Inc. and Cornell</font></td>
          </tr>
          <tr bgcolor="white">
            <td width="10%"><font size="2">99.1</font></td>
            <td width="4%">&#160;</td>
            <td width="86%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Press
              Release of Innova Holdings, Inc. dated July 25,
              2006.</font></td>
          </tr>

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        <div id="FTR">
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        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
          </div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
      </div><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>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: 36pt; 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 hereunto
      duly authorized. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; 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">
      <table align="center" bgcolor="#ffffff" border="0" cellpadding="0" cellspacing="0" width="100%">

          <tr valign="top" bgcolor="#ffffff">
            <td width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">&#160;</font></td>
            <td width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">&#160;</font></td>
            <td width="49%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">&#160;</font></td>
          </tr>
          <tr valign="top" bgcolor="#ffffff">
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">&#160;</font></td>
            <td colspan="2"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: "><strong>INNOVA
              HOLDINGS, INC.</strong></font></td>
          </tr>
          <tr valign="top" bgcolor="#ffffff">
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">&#160;<br>&#160;</font></td>
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">&#160;<br>&#160;</font></td>
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">&#160;<br>&#160;</font></td>
          </tr>
          <tr valign="top" bgcolor="#ffffff">
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">Date:
              July 25, 2006</font></td>
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">&#160;</font></td>
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">/s/&#160;Walter
              K.
              Weisel</font></td>
          </tr>
          <tr valign="top" bgcolor="#ffffff">
            <td colspan="2"><font style="FONT-FAMILY: " size="1">&#160;</font></td>
            <td align="left">
              <hr style="COLOR: black" align="left" noshade size="2" width="80%"><font size="2">Walter
              K. Weisel</font></td>
          </tr>
          <tr valign="top" bgcolor="#ffffff">
            <td colspan="2"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">&#160;</font></td>
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">Chief
              Executive Officer&#160;</font></td>
          </tr>

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{"company-data": {"conformed-name": "INNOVA HOLDINGS", "cik": "0001156784", "assigned-sic": "7372", "irs-number": "954868120", "state-of-incorporation": "NV", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-33231", "film-number": "06979754"}, "business-address": {"street1": "17105 SAN CARLOS BOULEVARD", "street2": "SUITE A6151", "city": "FORT MEYERS", "state": "FL", "zip": "33931", "phone": "2392784111"}, "mail-address": {"street1": "17105 SAN CARLOS BOULEVARD", "street2": "SUITE A6151", "city": "FORT MEYERS", "state": "FL", "zip": "33931"}, "former-company": [{"former-conformed-name": "HY TECH TECHNOLOGY GROUP INC", "date-changed": "20030422"}, {"former-conformed-name": "SRM NETWORKS INC", "date-changed": "20010806"}]}
UNITED
      STATES
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): July 21, 2006
INNOVA
      HOLDINGS, INC.
(Exact
      name of registrant as specified in its charter)
Delaware
000-33231
95-4868120
(State
                or other jurisdiction
(Commission
                File Number)
(IRS
                Employer
of
                incorporation)
Identification
                No.)
17105
      San Carlos Boulevard, Suite A6151, Fort Myers, Florida 33931
(Address
      of principal executive offices and Zip Code)
Registrant's
      telephone number, including area code (239) 466-0488
Copies
      to:
Gregory
      Sichenzia, Esq.
Eric
      A.
      Pinero, Esq.
Sichenzia
      Ross Friedman Ference LLP
1065
      Avenue of the Americas
New
      York,
      New York 10018
Phone:
      (212) 930-9700
Fax:
      (212) 930-9725
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
      1.01 Entry into a Material Definitive Agreement.
On
      July
      21, 2006, Innova Holdings, Inc. (the "Company") consummated a Securities
      Purchase Agreement (the "Purchase Agreement") dated July 21, 2006 with Cornell
      Capital Partners L.P. ("Cornell") providing for the sale by the Company to
      Cornell of its 10% secured convertible debentures in the aggregate principal
      amount of $2,825,000 (the "Debentures") of which $1,250,000 was advanced
      immediately. The second installment of $575,000 will be advanced on the date
      of
      the filing by the Company with the Securities and Exchange Commission (the
      "Commission") of the Registration Statement (as defined below). The last
      installment of $1,000,000 will be advanced three business days after the date
      the Registration Statement is declared effective by the Commission.
The
      Debentures mature on the third anniversary of the date of issuance (the
      "Maturity Date"). The holder of the Debentures may convert at any time amounts
      outstanding under the Debentures into shares of common stock of the Company
      (the
      "Common Stock") at a fixed conversion price per share equal to $0.04 (the
"Conversion Price"). Cornell has agreed not to short any of the shares of Common
      Stock. The Company's obligations under the Purchase Agreement are secured by
      substantially all of the Company's, and its wholly owned subsidiary's (Coroware
      Technologies, Inc.) assets.
Under
      the
      Purchase Agreement, the Company also issued to Cornell five-year warrants to
      purchase 10,000,000 and 15,000,000 shares of Common Stock at a price equal
      to
      $0.05 and $0.10, respectively, together with three-year warrants to purchase
      23,000,000, 20,000,000 and 25,000,000 shares of Common Stock at a price equal
      to
      $0.025, $0.065 and $0.075, respectively (collectively, the "Warrants").
In
      connection with the Purchase Agreement, the Company also entered into a
      registration rights agreement with Cornell (the "Registration Rights Agreement")
      providing for the filing of a registration statement (the "Registration
      Statement") with the Securities and Exchange Commission registering the Common
      Stock issuable upon conversion of the Debentures and exercise of the Warrants.
      The Company is obligated to use its best efforts to cause the Registration
      Statement to be filed no later than 30 days after the closing date. In the
      event
      of a default of its obligations under the Registration Rights Agreement,
      including its agreement to file the Registration Statement with the Commission
      no later than 30 days after the closing date, or if the Registration Statement
      is not declared effective within 120 days after the closing date, it is required
      to pay to Cornell, as liquidated damages, for each month that the registration
      statement has not been filed or declared effective, as the case may be, either
      a
      cash amount or shares of our common stock equal to 2% of the liquidated value
      of
      the Debentures.
The
      Company claims an exemption from the registration requirements of the Act for
      the private placement of these securities pursuant to Section 4(2) of the Act
      and/or Regulation D promulgated thereunder since, among other things, the
      transaction did not involve a public offering, Cornell is an accredited investor
      and/or qualified institutional buyer, Cornell had access to information about
      the Company and its investment, Cornell took the securities for investment
      and
      not resale, and the Company took appropriate measures to restrict the transfer
      of the securities.
On
      July
      25, 2006, the Company issued a press release announcing the entry into the
      Securities Purchase Agreement with Cornell, a copy of which is attached hereto
      as Exhibit 99.1.
In
        accordance with General Instruction B.2 of Form 8-K, the information in this
        Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed to
        be
"filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as
        amended (the "Exchange Act"), or otherwise subject to the liability of that
        section, and shall not be incorporated by reference into any registration
        statement or other document filed under the Act or the Exchange Act, except
        as
        shall be expressly set forth by specific reference in such filing.
Item
      1.02 Termination of a Material Definitive Agreement.
On
      July
      21, 2006, the Company terminated the Standby Equity Distribution Agreement
      (the
"SEDA") dated June 14, 2005 with Cornell, together with all of the definitive
      agreements related thereto. In addition, on July 21, 2006 Cornell agreed to
      terminate the promissory note in the remaining principal amount of $80,000
      in
      exchange for the Company's issuance of 4,848,500 shares of Common Stock to
      Cornell.
Item
      2.03 Creation of a Direct Financial Obligation.
See
      Item
      1.01 above.
Item
      3.02 Unregistered Sales of Equity Securities.
See
      Item
      1.01 above.
Item
      9.01 Financial Statements and Exhibits.
(a)
Financial
                statements of business
                acquired.
Not
      applicable.
(b)
Pro
                forma financial
                information.
Not
      applicable.
(c)
Exhibits.
Exhibit
Number
Description
10.1
Convertible Debenture dated July 21,
              2006
10.2
Form of $0.05 Warrant
10.3
Form of $0.10 Warrant
10.4
Form of $0.025 Warrant
10.5
Form of $0.065 Warrant
10.6
Form of $0.075 Warrant
10.7
Securities Purchase Agreement dated
              July 21,
              2006 between the
Company
              and Cornell
10.8
Investor Registration Rights Agreement
              dated
              July 21, 2006 between the Company and Cornell
10.9
Security Agreement dated July 21, 2006
              by and
              between the
Company
              and Cornell
10.10
Subsidiary Security Agreement dated
              July 21,
              2006 by and between Coroware Technologies, Inc. and Cornell
99.1
Press
              Release of Innova Holdings, Inc. dated July 25,
              2006.
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.
INNOVA
              HOLDINGS, INC.
Date:
              July 25, 2006
/s/ Walter
              K.
              Weisel
Walter
              K. Weisel
Chief
              Executive Officer