UNITED STATES

               SECURITIES AND EXCHANGE COMMISSION

                     Washington, D.C. 20549

                           FORM 8-K/A

        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 30, 2002


                       NOVO NETWORKS, INC.
     (Exact Name of Registrant as Specified in Its Charter)


          Delaware                0-28579             75-2233445
(State or Other Jurisdiction    (Commission         (IRS Employer
      of Incorporation)        File Number)     Identification Number)


       2311 Cedar Springs Road, Suite 400,
                  Dallas, Texas                       75201
     (Address of Principal Executive Offices)      (Zip Code)



Registrant's Telephone Number, Including Area Code: (214) 777-4100

      300 Crescent Court, Suite 1760, Dallas, Texas  75201
  (Former Name or Former Address, if Changed Since Last Report)

<PAGE>

Item 4.   Changes in Registrant's Certifying Accountant

           (a)  Information required by Item 304(a)(1) of Regulation S-K.

                 (i)    On July 30, 2002, the Registrant dismissed
                        Arthur Andersen LLP as the Registrant's
                        independent accountant.

                 (ii)   Arthur Andersen LLP previously served as
                        the Registrant's independent outside auditor
                        since January 2, 2001.  Prior to that date, BDO
                        Seidman LLP acted as the Registrant's
                        independent outside auditor.  For the year
                        ended June 30, 2001, Arthur Andersen LLP's
                        audit report did not contain any adverse
                        opinion or a disclaimer of opinion nor was it
                        qualified or modified as to audit scope or
                        accounting principles, except that such report
                        did state that substantial doubt existed that
                        the Registrant could continue as a going
                        concern. BDO Seidman LLP's report on the
                        financial statements for the year ended
                        June 30, 2000, contained no adverse opinion or
                        disclaimer of opinion and was not qualified or
                        modified as to uncertainty, audit scope or
                        accounting principles.

                 (iii)  The Registrant's Audit Committee and
                        Board of Directors unanimously recommended the
                        dismissal of Arthur Andersen LLP as its
                        independent accountant.

                 (iv)   During the Registrant's two most recent
                        fiscal years, which ended June 30, 2000, and
                        2001, respectively, and the subsequent interim
                        period from June 30, 2001, to July 30, 2002
                        (the date of the referenced dismissal), there
                        were no disagreements between the Registrant
                        and either Arthur Andersen LLP or BDO Seidman
                        LLP on any matter of accounting principles or
                        practices, financial statement disclosure, or
                        auditing scope or procedure, which
                        disagreements, if not resolved to the
                        satisfaction of Arthur Anderson LLP or BDO
                        Seidman LLP, would have caused either firm to
                        make reference to the subject matter of the
                        disagreement in its report.

                 (v)    During the Registrant's two most recent
                        fiscal years and during the subsequent interim
                        period from June 30, 2001, to July 30, 2002
                        (the date of the referenced dismissal), there
                        have been no reportable events (as defined in
                        regulation S-K Item 304(a)(1)(v)).

           (b)  Effective July 30, 2002, Grant Thornton LLP was
      approved by the Registrant's Audit Committee and
      Board of Directors as the new independent accountant.
      Management has not previously consulted with Grant
      Thornton LLP concerning any accounting, auditing or
      reporting matter.

           (c)  The Registrant requested that Arthur Andersen
      LLP provide it with a letter addressed to the SEC
      stating whether or not it agrees with the
      above statements. Arthur Andersen LLP cited a newly
      adopted policy providing such letters and refused the
      Registrant's request.


<PAGE>

     Pursuant to the requirements of the Securities Exchange Act
of 1934, as amended, the Registrant has duly caused this report
to be signed on its behalf by the undersigned hereunto duly
authorized.

                                   NOVO NETWORKS, INC.


Date: August 22, 2002              /s/  BARRETT N. WISSMAN
                                   -----------------------------
                                   Name:     Barrett N. Wissman
                                   Title:    President