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       September 26, 2000, [July 5, 2000]
reported)

                             YELLOWAVE CORPORATION
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               (Exact name of Registrant as specified in charter)

         Nevada                   000-05223                    11-1771806
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(State or other jurisdic-        (Commission                 (IRS Employer
 tion of incorporation)          File Number)              Identification No.)

11777 San Vicente Blvd., Suite 505, Los Angeles, California             90049
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(Address of principal executive offices)                             (Zip Code)

Registrant's telephone number, including area code:             (310) 979-8055

<PAGE>

Item 5. Other Events.

  Legal Proceedings.

      On August 21, 2000,  Yellowave  Corporation ("the Company") announced that
it had obtained a temporary restraining order in the U.S. District Court for the
Central   District  of  California  and  commenced  an  action  against  Newtech
Broadwidth Ltd ("Newtech"),  Myriam Abitbol,  Propser Abitbol,  Jacques Ben Ezra
and Benayahou  Shemesh  (collectively,  the  "Defendants").  See the form of the
Company's press release  attached hereto as Exhibit 99.1,  dated August 21, 2000
and the Court's Order attached hereto as Exhibit 99.2.

      The Court granted the temporary  restraining  order based upon allegations
that Defendants made  misrepresentations and engaged in fraud in order to induce
the  Company  to  enter  into a Share  Purchase  Agreement  dated  July 5,  2000
("Agreement").  Under the terms of the Agreement,  Newtech agreed to sell to the
Company  all  of  the  issued  and  outstanding   common  stock  of  Newtech  in
consideration  of  7,425,000  shares of the  Common  Stock of the  Company.  The
Agreement  also  provided  for the  satisfaction  of certain  conditions  by the
Defendants.  The Company alleges that these  conditions were not satisfied.  See
the Agreement dated July 5, 2000 attached hereto as Exhibit 10.1.

      The  civil  action  (No.00-CIV-08786),  is also  based on the  Defendants'
alleged  fraudulent  conduct in connection  with the  Agreement.  The company is
seeking monetary damages as well as rescission of the Agreement.

      In its complaint, the Company asserted five claims for relief sounding in:

         (i)      breach of contract;
         (ii)     fraud;
         (iii)    rescission of the Agreement;


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<PAGE>

         (iv)     conversion; and
         (v)      injunctive relief.

      On September 25, 2000, the United States Federal  District Court ordered a
preliminary   injunction  issued  against  the  defendants   barring  them  from
exercising any management or control over the Company.

      In addition, the Company also announced that it will delay a fifty percent
stock  dividend to have been  distributed  on August 31, 2000,  in the form of a
three for two stock split to our shareholders of record on August 24, 2000.

      Finally,  on August 23,  2000,  the trading in the  Company's  shares were
suspended by the American Stock Exchange ("the  Exchange"),  pending a review by
the  Exchange  of  the  facts  surrounding  the  Agreement  and  the  subsequent
litigation.

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<PAGE>

Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.

      (c) Exhibits.

         Exhibit No.   Description.
         -----------   ------------
         10.1          Share Purchase Agreement, dated July 5, 2000.

         99.1          Press release of Yellowave Corp., dated August 21, 2000

         99.2          Court's Order together with the Company's pleadings


                                   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.

                                          YELLOWAVE CORP.


September 26, 2000                        By: /s/  Laura Ballegeer
                                             ----------------------------------
                                             Laura Ballegeer, Secretary

                                          By: /s/ Richard Arons
                                             ----------------------------------
                                              Richard Arons, President


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<PAGE>

                                  EXHIBIT INDEX

         EXHIBIT
         NUMBER                       EXHIBIT  TITLE
         ------                       -------  -----

           10.1        Share Purchase Agreement, dated July 5, 2000.
           99.1        Press release of Yellowave Corp., dated August 21, 2000.
           99.2        Court's Order together with the Company's pleadings


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