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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="DocsID"><font style="DISPLAY: inline; FONT-SIZE: 18pt; 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: 18pt; 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,
      D.C. 20549</strong></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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    <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: 18pt; 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="center">
      <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="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="justify">&#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"><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="justify">&#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): December 31, 2005</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="center"><font style="DISPLAY: inline; FONT-SIZE: 24pt; FONT-FAMILY: Times New Roman"><strong>CREATIVE
      VISTAS, INC. </strong></font>
      <div>
        <hr style="COLOR: black" align="left" noshade size="2" width="100%">
      </div>
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      name of Registrant as specified in its Charter)</font></div>
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            </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"><strong>0-30585</strong></font></div>
            </td>
            <td valign="top" width="27%" 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"><strong>86-0464104</strong></font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="27%">
              <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">(State
                or other Jurisdiction of Incorporation)</font></div>
            </td>
            <td valign="top" width="27%">
              <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">(Commission
                File Number)</font></div>
            </td>
            <td valign="top" width="27%">
              <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>
            </td>
          </tr>

      </table>
    </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>2100
      Forbes Street</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><strong><font size="2">Unit
      8-10</font></strong></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>Whitby,&#160;Ontario,
      Canada&#160;L1N 9T3 </strong></font>
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      of principal executive offices)</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: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Registrant&#8217;s
      telephone number, including area code: </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>(905)
      666-8676</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="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:</font></div>
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            <td align="left" style="width: 27pt;"><font style="DISPLAY: inline; FONT-FAMILY: Wingdings">o</font></td>
            <td align="left">
              <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>
            </td>
          </tr>

      </table>
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            <td align="left" style="width: 27pt;"><font style="FONT-FAMILY: Wingdings">o</font></td>
            <td align="left">
              <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
                240.14a-12)</font></div>
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      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">

          <tr valign="top" style="line-height: 1.25;">
            <td align="left" style="width: 27pt;"><font style="FONT-FAMILY: Wingdings">o</font></td>
            <td align="left">
              <div align="left"><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>
            </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>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">

          <tr valign="top" style="line-height: 1.25;">
            <td align="left" style="width: 27pt;"><font style="FONT-FAMILY: Wingdings">o</font></td>
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              <div align="left"><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>
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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>
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    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#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
      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><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</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: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Creative
      Vistas, Inc. (the &#8220;Registrant&#8221;) entered into an agreement, through its wholly
      owned newly formed Delaware subsidiary, Cancable Holding Corp. (&#8220;Holding&#8221;), to
      acquire all of the issued and outstanding shares of capital stock and any other
      equity interests of Cancable Inc., an Ontario corporation (&#8220;Cancable&#8221;), on
      December&#160;31, 2005. To finance the acquisition, also on December&#160;31,
      2005, subsidiaries of the Registrant entered into a loan agreement with Laurus
      Master Fund, Ltd. (&#8220;Laurus&#8221;) to which the Registrant became a
      guarantor.</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: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><em>The
      Acquisition</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: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
      December 31, 2005, the Registrant, Cancable, Holding, Covington Capital
      Corporation (&#8220;Covington&#8221;) and BMO Capital Corporation (&#8220;BMO&#8221;) entered into a
      Stock Purchase Agreement for the purchase by Holding of all the issued and
      outstanding shares of capital stock and any other equity interests of Cancable.
      See Item 2.01 below.</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: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><em>The
      Financing</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: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Also
      on
      December 31, 2005, Cancable and Holding entered into a series of agreements
      with
      Laurus whereby Cancable issued to Laurus a secured term note (the &#8220;Note&#8221;) in the
      amount of Six Million Eight Hundred Sixty Five Thousand Dollars ($6,865,000)
      and
      Holding issued to Laurus a related option to purchase up to 49 shares of common
      stock of Holding (up to 49% of the outstanding shares of Holding) at a price
      of
      $0.01 per share (the &#8220;Option&#8221;). The loan is secured by all of the assets of the
      Registrant and its subsidiaries: Creative Vistas Acquisition Corp., Iview
      Digital Video Solutions, Inc., Holding, Cancable and Cancable, Inc., a Nevada
      corporation and wholly owned subsidiary of Cancable. </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: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      principal amount of the Note bears interest at the prime rate plus one and
      three
      quarters percent with a minimum rate of seven percent. </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: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Cancable
      and Holding have granted Laurus a right of first refusal with respect to any
      debt or equity financings for a period of 180 days after closing.</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
      connection with this financing, the Registrant entered into an Amendment dated
      December 31, 2005 amending its September 30, 2004 financing documents with
      Laurus to provide that a default under the September 30, 2004 financing
      documents would trigger a default under the December 31, 2005 financing
      documents and that a default under the December 31, 2005 financing documents
      would trigger a default under the September 30, 2004 financing
      documents.</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: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Also
      on
      December 31, 2005, the Registrant and Laurus entered into an Amendment and
      Waiver extending the date by which the Registrant was to have an effective
      registration statement on file with the Securities and Exchange Commission
      registering the shares of common stock of the Registrant issuable upon
      conversion of the Secured Convertible Term Note and the exercise of the Warrant
      to March 31, 2006. </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: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      Registrant and Laurus also entered into an Amendment dated December 31, 2005,
      deferring the principal payments due under the Secured Convertible Term Note
      dated September 30, 2004 in exchange for a Warrant exercisable for 100,000
      shares of common stock of the Registrant at an exercise price per share of
      $0.80.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; 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
      2.01</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>Completion
      of Acquisition</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: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
      December 31, 2005, pursuant to the Stock Purchase Agreement, Holding acquired
      all of the issued and outstanding shares of capital stock and any other equity
      interests of Cancable from Covington and BMO for consideration of CND$1.00.
      In
      connection therewith, Cancable paid off certain debts of Cancable to its
      stockholders, Covington and BMO, in the amount of Canadian Six Million Nine
      Hundred Thirty&#160;Four Thousand Three Hundred Fifty Dollars (CND
      $6,934,350)&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">using
      proceeds of the financing transaction described in Item 1.01.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
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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
      9.01</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>Financial
      Statements and Exhibits</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>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">

          <tr valign="top" style="line-height: 1.25;">
            <td align="left" style="width: 36pt;"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(a)</font></td>
            <td align="left">
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Financial
                Statements of Businesses Acquired</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>&#160;</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">The
      required Financial Statements of Cancable will be filed by amendment to this
      Form 8-K prior to March 17</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>,
      </strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">2006</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.</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 align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">

          <tr valign="top" style="line-height: 1.25;">
            <td align="left" style="width: 36pt;"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(b)</font></td>
            <td align="left">
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pro-Forma
                Financial Information</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>&#160;</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">The
      required pro-forma financial information will be filed by amendment to this
      Form
      8-K prior to March 17, 2006.</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 align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">

          <tr valign="top" style="line-height: 1.25;">
            <td align="left" style="width: 36pt;"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(c)</font></td>
            <td align="left">
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Not
                applicable.</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"><br></div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">

          <tr valign="top" style="line-height: 1.25;">
            <td align="left" style="width: 36pt;"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(d)</font></td>
            <td align="left">
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
                following exhibits are filed as part of this
                Report:</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"><br></div>
    <div align="left">
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr bgcolor="#ccffcc">
            <td width="5%" bgcolor="#ffffff">&#160;</td>
            <td align="left" valign="top" width="7%">
              <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"><a href="v032837_ex2-1.htm">2.1
</a></font></div>
            </td>
            <td width="2%">&#160;</td>
            <td align="left" valign="top" width="86%">
              <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"><a href="v032837_ex2-1.htm">Stock
                Purchase Agreement dated December 31, 2005,
                by and among Creative Vistas, Inc., Cancable, Inc. and the Stockholders
                Party thereto</a></font></div>
            </td>
          </tr>
          <tr bgcolor="white">
            <td width="5%">&#160;</td>
            <td align="left" valign="top" width="7%">&#160;</td>
            <td width="2%">&#160;</td>
            <td align="left" valign="top" width="86%">&#160;</td>
          </tr>
          <tr bgcolor="#ccffcc">
            <td width="5%" bgcolor="#ffffff">&#160;</td>
            <td align="left" valign="top" width="7%">
              <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"><a href="v032837_ex2-2.htm">2.2</a></font></div>
            </td>
            <td width="2%">&#160;</td>
            <td align="left" valign="top" width="86%">
              <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"><a href="v032837_ex2-2.htm">Escrow
                Agreement dated December&#160;31, 2005,
                among Cancable Holding Corp., Covington Fund II Inc. and BMO Capital
                Corporation and Gowling Lafleur Henderson LLP, as Escrow
                Agent</a></font></div>
            </td>
          </tr>
          <tr bgcolor="white">
            <td width="5%">&#160;</td>
            <td align="left" valign="top" width="7%">&#160;</td>
            <td width="2%">&#160;</td>
            <td align="left" valign="top" width="86%">&#160;</td>
          </tr>
          <tr bgcolor="#ccffcc">
            <td width="5%" bgcolor="#ffffff">&#160;</td>
            <td align="left" valign="top" width="7%">
              <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"><a href="v032837_ex10-1.htm">10.1</a></font></div>
            </td>
            <td width="2%">&#160;</td>
            <td align="left" valign="top" width="86%">
              <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"><a href="v032837_ex10-1.htm">Securities
                Purchase Agreement, dated December
                31, 2005, by and among Laurus Master Fund, Ltd., Cancable Inc. and
                Cancable Holding Corp.</a></font></div>
            </td>
          </tr>
          <tr bgcolor="white">
            <td width="5%">&#160;</td>
            <td align="left" valign="top" width="7%">&#160;</td>
            <td width="2%">&#160;</td>
            <td align="left" valign="top" width="86%">&#160;</td>
          </tr>
          <tr bgcolor="#ccffcc">
            <td width="5%" bgcolor="#ffffff">&#160;</td>
            <td align="left" valign="top" width="7%">
              <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"><a href="v032837_ex10-2.htm">10.2</a></font></div>
            </td>
            <td width="2%">&#160;</td>
            <td align="left" valign="top" width="86%">
              <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"><a href="v032837_ex10-2.htm">Secured
                Term Note, dated December 31, 2005,
                issued by Cancable Inc. to Laurus Master Fund, Ltd.</a></font></div>
            </td>
          </tr>
          <tr bgcolor="white">
            <td width="5%">&#160;</td>
            <td align="left" valign="top" width="7%">&#160;</td>
            <td width="2%">&#160;</td>
            <td align="left" valign="top" width="86%">&#160;</td>
          </tr>
          <tr bgcolor="#ccffcc">
            <td width="5%" bgcolor="#ffffff">&#160;</td>
            <td align="left" valign="top" width="7%">
              <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"><a href="v032837_ex10-3.htm">10.3</a></font></div>
            </td>
            <td width="2%">&#160;</td>
            <td align="left" valign="top" width="86%">
              <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"><a href="v032837_ex10-3.htm">Option,
                dated December 31, 2005, issued by
                Cancable Holding Corp. to Laurus Master Fund, Ltd.</a></font></div>
            </td>
          </tr>
          <tr bgcolor="white">
            <td width="5%">&#160;</td>
            <td align="left" valign="top" width="7%">&#160;</td>
            <td width="2%">&#160;</td>
            <td align="left" valign="top" width="86%">&#160;</td>
          </tr>
          <tr bgcolor="#ccffcc">
            <td width="5%" bgcolor="#ffffff">&#160;</td>
            <td align="left" valign="top" width="7%">
              <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"><a href="v032837_ex10-4.htm">10.4</a></font></div>
            </td>
            <td width="2%">&#160;</td>
            <td align="left" valign="top" width="86%">
              <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"><a href="v032837_ex10-4.htm">Guarantee,
                dated December 31, 2005 by and among
                Creative Vistas, Inc. Cancable Inc., Cancable Holding Corp., Cancable,
                Inc., A.C. Technical Systems Ltd., Creative Vistas Acquisition Corp.,
                and
                Iview Digital Video Solutions Inc.</a></font></div>
            </td>
          </tr>
          <tr bgcolor="white">
            <td width="5%">&#160;</td>
            <td align="left" valign="top" width="7%">&#160;</td>
            <td width="2%">&#160;</td>
            <td align="left" valign="top" width="86%">&#160;</td>
          </tr>
          <tr bgcolor="#ccffcc">
            <td width="5%" bgcolor="#ffffff">&#160;</td>
            <td align="left" valign="top" width="7%">
              <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"><a href="v032837_ex10-5.htm">10.5</a></font></div>
            </td>
            <td width="2%">&#160;</td>
            <td align="left" valign="top" width="86%">
              <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"><a href="v032837_ex10-5.htm">Side
                Agreement, dated December 31, 2005 between
                Cancable Inc., Cancable Holding Corp., Cancable, Inc. and Creative
                Vistas,
                Inc.</a></font></div>
            </td>
          </tr>
          <tr bgcolor="white">
            <td width="5%">&#160;</td>
            <td align="left" valign="top" width="7%">&#160;</td>
            <td width="2%">&#160;</td>
            <td align="left" valign="top" width="86%">&#160;</td>
          </tr>
          <tr bgcolor="#ccffcc">
            <td width="5%" bgcolor="#ffffff">&#160;</td>
            <td align="left" valign="top" width="7%">
              <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"><a href="v032837_ex10-6.htm">10.6</a></font></div>
            </td>
            <td width="2%">&#160;</td>
            <td align="left" valign="top" width="86%">
              <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"><a href="v032837_ex10-6.htm">Joinder
                and Confirmation of Security Interest,
                dated December 31, 2005 among Cancable Inc., Cancable Holding Corp.,
                Cancable, Inc., A.C. Technical Systems Ltd., Creative Vistas Acquisition
                Corp., Iview Digital Video Solutions Inc., Brent Swanick and Creative
                Vistas, Inc. and Laurus Master Fund, Ltd.</a></font></div>
            </td>
          </tr>
          <tr bgcolor="white">
            <td width="5%">&#160;</td>
            <td align="left" valign="top" width="7%">&#160;</td>
            <td width="2%">&#160;</td>
            <td align="left" valign="top" width="86%">&#160;</td>
          </tr>
          <tr bgcolor="#ccffcc">
            <td width="5%" bgcolor="#ffffff">&#160;</td>
            <td align="left" valign="top" width="7%">
              <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"><a href="v032837_ex10-7.htm">10.7</a></font></div>
            </td>
            <td width="2%">&#160;</td>
            <td align="left" valign="top" width="86%">
              <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"><a href="v032837_ex10-7.htm">Master
                Security Agreement, dated December 31,
                2005, by and among Creative Vistas, Inc., certain of its subsidiaries
                and
                Laurus Master Fund, Ltd.</a></font></div>
            </td>
          </tr>
          <tr bgcolor="white">
            <td width="5%">&#160;</td>
            <td align="left" valign="top" width="7%">&#160;</td>
            <td width="2%">&#160;</td>
            <td align="left" valign="top" width="86%">&#160;</td>
          </tr>
          <tr bgcolor="#ccffcc">
            <td width="5%" bgcolor="#ffffff">&#160;</td>
            <td align="left" valign="top" width="7%">
              <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"><a href="v032837_ex10-8.htm">10.8</a></font></div>
            </td>
            <td width="2%">&#160;</td>
            <td align="left" valign="top" width="86%">
              <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"><a href="v032837_ex10-8.htm">Share
                Pledge Agreement, dated December 31, 2005,
                by and among Laurus Master Fund, Ltd., Creative Vistas, Inc., and
                each of
                the undersigned Pledgors</a></font></div>
            </td>
          </tr>
          <tr bgcolor="white">
            <td width="5%">&#160;</td>
            <td align="left" valign="top" width="7%">&#160;</td>
            <td width="2%">&#160;</td>
            <td align="left" valign="top" width="86%">&#160;</td>
          </tr>
          <tr bgcolor="#ccffcc">
            <td width="5%" bgcolor="#ffffff">&#160;</td>
            <td align="left" valign="top" width="7%">
              <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"><a href="v032837_ex10-9.htm">10.9</a></font></div>
            </td>
            <td width="2%">&#160;</td>
            <td align="left" valign="top" width="86%">
              <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"><a href="v032837_ex10-9.htm">Funds
                Escrow Agreement, dated December 31, 2005,
                by and among Creative Vistas, Inc., Laurus Master Fund, Ltd., and
                Loeb
                &amp; Loeb LLP</a></font></div>
            </td>
          </tr>
          <tr bgcolor="white">
            <td width="5%">&#160;</td>
            <td align="left" valign="top" width="7%">&#160;</td>
            <td width="2%">&#160;</td>
            <td align="left" valign="top" width="86%">&#160;</td>
          </tr>
          <tr bgcolor="#ccffcc">
            <td width="5%" bgcolor="#ffffff">&#160;</td>
            <td align="left" valign="top" width="7%">
              <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"><a href="v032837_ex10-10.htm">10.10</a></font></div>
            </td>
            <td width="2%">&#160;</td>
            <td align="left" valign="top" width="86%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><a href="v032837_ex10-10.htm"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Amendment,
                dated December 31, 2005, by and among Creative Vistas, Inc., Creative
                Vistas Acquisition Corp., </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">A.C.
                Technical Systems Ltd.</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>&#160;</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">and
                Laurus Master Fund, Ltd.</font></a></div>
            </td>
          </tr>
          <tr bgcolor="white">
            <td width="5%">&#160;</td>
            <td align="left" valign="top" width="7%">&#160;</td>
            <td width="2%">&#160;</td>
            <td align="left" valign="top" width="86%">&#160;</td>
          </tr>
          <tr bgcolor="#ccffcc">
            <td width="5%" bgcolor="#ffffff">&#160;</td>
            <td align="left" valign="top" width="7%">
              <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"><a href="v032837_ex10-11.htm">10.11</a></font></div>
            </td>
            <td width="2%">&#160;</td>
            <td align="left" valign="top" width="86%">
              <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"><a href="v032837_ex10-11.htm">Amendment
                and Waiver, dated as of December 31,
                2005, by and between Creative Vistas, Inc. and Laurus Master Fund,
                Ltd.,
                for the purpose of amending the terms of that certain Registration
                Rights
                Agreement by and between the Registrant and Laurus, dated as of September
                30, 2004</a></font></div>
            </td>
          </tr>
          <tr bgcolor="white">
            <td width="5%">&#160;</td>
            <td align="left" valign="top" width="7%">&#160;</td>
            <td width="2%">&#160;</td>
            <td align="left" valign="top" width="86%">&#160;</td>
          </tr>
          <tr bgcolor="#ccffcc">
            <td width="5%" bgcolor="#ffffff">&#160;</td>
            <td align="left" valign="top" width="7%">
              <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"><a href="v032837_ex10-12.htm">10.12</a></font></div>
            </td>
            <td width="2%">&#160;</td>
            <td align="left" valign="top" width="86%">
              <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"><a href="v032837_ex10-12.htm">Amendment,
                dated as of December 31, 2005
                between Creative Vistas, Inc. and Laurus Master Fund, Ltd. for the
                purpose
                of amending the Securities Purchase Agreement, dated as of September
                30,
                2004, the Secured Convertible Term Note, dated as of September 30,
                2004
                and the Registration Rights Agreement dated as of September 30,
                2004</a></font></div>
            </td>
          </tr>
          <tr bgcolor="white">
            <td width="5%">&#160;</td>
            <td align="left" valign="top" width="7%">&#160;</td>
            <td width="2%">&#160;</td>
            <td align="left" valign="top" width="86%">&#160;</td>
          </tr>
          <tr bgcolor="#ccffcc">
            <td width="5%" bgcolor="#ffffff">&#160;</td>
            <td align="left" valign="top" width="7%">
              <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"><a href="v032837_ex99-1.htm">99.1</a></font></div>
            </td>
            <td width="2%">&#160;</td>
            <td align="left" valign="top" width="86%">
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      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>
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            <td colspan="2"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: "><strong>CREATIVE
              VISTAS, INC.</strong></font></td>
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            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">Date:&#160;January
              6, 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;SAYAN
              NAVARATNAM</font></td>
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              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">Name:&#160;&#160;
                Sayan Navaratnam</font></div>
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">Title:&#160;&#160;&#160;&#160;
                Chairman and Chief Executive
                Officer</font></div>
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Unassociated Document
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): December 31, 2005
CREATIVE
      VISTAS, INC.
(Exact
      name of Registrant as specified in its Charter)
Arizona
0-30585
86-0464104
(State
                or other Jurisdiction of Incorporation)
(Commission
                File Number)
(IRS
                Employer Identification No.)
2100
      Forbes Street
Unit
      8-10
Whitby, Ontario,
      Canada L1N 9T3
(Address
      of principal executive offices)
Registrant's
      telephone number, including area code:
(905)
      666-8676
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
Creative
      Vistas, Inc. (the "Registrant") entered into an agreement, through its wholly
      owned newly formed Delaware subsidiary, Cancable Holding Corp. ("Holding"), to
      acquire all of the issued and outstanding shares of capital stock and any other
      equity interests of Cancable Inc., an Ontario corporation ("Cancable"), on
      December 31, 2005. To finance the acquisition, also on December 31,
      2005, subsidiaries of the Registrant entered into a loan agreement with Laurus
      Master Fund, Ltd. ("Laurus") to which the Registrant became a
      guarantor.
The
      Acquisition
On
      December 31, 2005, the Registrant, Cancable, Holding, Covington Capital
      Corporation ("Covington") and BMO Capital Corporation ("BMO") entered into a
      Stock Purchase Agreement for the purchase by Holding of all the issued and
      outstanding shares of capital stock and any other equity interests of Cancable.
      See Item 2.01 below.
The
      Financing
Also
      on
      December 31, 2005, Cancable and Holding entered into a series of agreements
      with
      Laurus whereby Cancable issued to Laurus a secured term note (the "Note") in the
      amount of Six Million Eight Hundred Sixty Five Thousand Dollars ($6,865,000)
      and
      Holding issued to Laurus a related option to purchase up to 49 shares of common
      stock of Holding (up to 49% of the outstanding shares of Holding) at a price
      of
      $0.01 per share (the "Option"). The loan is secured by all of the assets of the
      Registrant and its subsidiaries: Creative Vistas Acquisition Corp., Iview
      Digital Video Solutions, Inc., Holding, Cancable and Cancable, Inc., a Nevada
      corporation and wholly owned subsidiary of Cancable.
The
      principal amount of the Note bears interest at the prime rate plus one and
      three
      quarters percent with a minimum rate of seven percent.
Cancable
      and Holding have granted Laurus a right of first refusal with respect to any
      debt or equity financings for a period of 180 days after closing.
In
      connection with this financing, the Registrant entered into an Amendment dated
      December 31, 2005 amending its September 30, 2004 financing documents with
      Laurus to provide that a default under the September 30, 2004 financing
      documents would trigger a default under the December 31, 2005 financing
      documents and that a default under the December 31, 2005 financing documents
      would trigger a default under the September 30, 2004 financing
      documents.
Also
      on
      December 31, 2005, the Registrant and Laurus entered into an Amendment and
      Waiver extending the date by which the Registrant was to have an effective
      registration statement on file with the Securities and Exchange Commission
      registering the shares of common stock of the Registrant issuable upon
      conversion of the Secured Convertible Term Note and the exercise of the Warrant
      to March 31, 2006.
The
      Registrant and Laurus also entered into an Amendment dated December 31, 2005,
      deferring the principal payments due under the Secured Convertible Term Note
      dated September 30, 2004 in exchange for a Warrant exercisable for 100,000
      shares of common stock of the Registrant at an exercise price per share of
      $0.80.
ITEM
      2.01
Completion
      of Acquisition
On
      December 31, 2005, pursuant to the Stock Purchase Agreement, Holding acquired
      all of the issued and outstanding shares of capital stock and any other equity
      interests of Cancable from Covington and BMO for consideration of CND$1.00.
      In
      connection therewith, Cancable paid off certain debts of Cancable to its
      stockholders, Covington and BMO, in the amount of Canadian Six Million Nine
      Hundred Thirty Four Thousand Three Hundred Fifty Dollars (CND
      $6,934,350)
using
      proceeds of the financing transaction described in Item 1.01.
-2-
ITEM
      9.01
Financial
      Statements and Exhibits
(a)
Financial
                Statements of Businesses Acquired
The
      required Financial Statements of Cancable will be filed by amendment to this
      Form 8-K prior to March 17
,
2006
.
(b)
Pro-Forma
                Financial Information
The
      required pro-forma financial information will be filed by amendment to this
      Form
      8-K prior to March 17, 2006.
(c)
Not
                applicable.
(d)
The
                following exhibits are filed as part of this
                Report:
2.1
Stock
                Purchase Agreement dated December 31, 2005,
                by and among Creative Vistas, Inc., Cancable, Inc. and the Stockholders
                Party thereto
2.2
Escrow
                Agreement dated December 31, 2005,
                among Cancable Holding Corp., Covington Fund II Inc. and BMO Capital
                Corporation and Gowling Lafleur Henderson LLP, as Escrow
                Agent
10.1
Securities
                Purchase Agreement, dated December
                31, 2005, by and among Laurus Master Fund, Ltd., Cancable Inc. and
                Cancable Holding Corp.
10.2
Secured
                Term Note, dated December 31, 2005,
                issued by Cancable Inc. to Laurus Master Fund, Ltd.
10.3
Option,
                dated December 31, 2005, issued by
                Cancable Holding Corp. to Laurus Master Fund, Ltd.
10.4
Guarantee,
                dated December 31, 2005 by and among
                Creative Vistas, Inc. Cancable Inc., Cancable Holding Corp., Cancable,
                Inc., A.C. Technical Systems Ltd., Creative Vistas Acquisition Corp.,
                and
                Iview Digital Video Solutions Inc.
10.5
Side
                Agreement, dated December 31, 2005 between
                Cancable Inc., Cancable Holding Corp., Cancable, Inc. and Creative
                Vistas,
                Inc.
10.6
Joinder
                and Confirmation of Security Interest,
                dated December 31, 2005 among Cancable Inc., Cancable Holding Corp.,
                Cancable, Inc., A.C. Technical Systems Ltd., Creative Vistas Acquisition
                Corp., Iview Digital Video Solutions Inc., Brent Swanick and Creative
                Vistas, Inc. and Laurus Master Fund, Ltd.
10.7
Master
                Security Agreement, dated December 31,
                2005, by and among Creative Vistas, Inc., certain of its subsidiaries
                and
                Laurus Master Fund, Ltd.
10.8
Share
                Pledge Agreement, dated December 31, 2005,
                by and among Laurus Master Fund, Ltd., Creative Vistas, Inc., and
                each of
                the undersigned Pledgors
10.9
Funds
                Escrow Agreement, dated December 31, 2005,
                by and among Creative Vistas, Inc., Laurus Master Fund, Ltd., and
                Loeb
                & Loeb LLP
10.10
Amendment,
                dated December 31, 2005, by and among Creative Vistas, Inc., Creative
                Vistas Acquisition Corp.,
A.C.
                Technical Systems Ltd.
and
                Laurus Master Fund, Ltd.
10.11
Amendment
                and Waiver, dated as of December 31,
                2005, by and between Creative Vistas, Inc. and Laurus Master Fund,
                Ltd.,
                for the purpose of amending the terms of that certain Registration
                Rights
                Agreement by and between the Registrant and Laurus, dated as of September
                30, 2004
10.12
Amendment,
                dated as of December 31, 2005
                between Creative Vistas, Inc. and Laurus Master Fund, Ltd. for the
                purpose
                of amending the Securities Purchase Agreement, dated as of September
                30,
                2004, the Secured Convertible Term Note, dated as of September 30,
                2004
                and the Registration Rights Agreement dated as of September 30,
                2004
99.1
Press
                Release
-3-
SIGNATURE
Pursuant
      to the requirements of the Securities Exchange Act of 1934, the Registrant
      has
      duly caused this Report to be signed on its behalf by the undersigned hereunto
      duly authorized.
CREATIVE
              VISTAS, INC.
Date: January
              6, 2006
By:
/s/ SAYAN
              NAVARATNAM
Name:  
                Sayan Navaratnam
Title:    
                Chairman and Chief Executive
                Officer
-4-