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): August 7,
      2006

     

    friendlyway
      Corporation

    (Exact
      name of Registrant as Specified in its Charter) 

     

    
      	
               
                Nevada

            	
               

            	
              0-20317

            	
               

            	
              88-0270266

            
	
               
                (State or Other Jurisdiction of Incorporation or
                Organization) 

            	
               

            	
              (Commission
                file number)

            	
               

            	
              (I.R.S.
                Employer Identification Number)

            

    

     

    7222
      Commerce Center Drive, Suite 240

    Colorado
      Springs, CO 80919 

    (Address
      of Principal Executive Offices including Zip Code) 

     

    (719)
      359-5533 

    (Registrant's
      Telephone Number, Including Area Code) 

     

     

    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))

            

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     
      

    SECTION
      1 - REGISTRANT’S BUSINESS AND OPERATIONS

     

    
      
        	Item
                1.01	
                Entry
                  into a Material Definitive
                  Agreement.

              

      

    

    

    The
      descriptions of the agreements in Item 2.01 are incorporated herein by
      reference.

     

    
      
        	Item
                2.01	
                Completion
                  of Acquisition or Disposition of
                  Assets.

              

      

    

     

    On
      August
      7, 2006, we acquired substantially all of the assets of Big Fish Marketing
      Group, Inc, a Colorado corporation (“Big Fish”) pursuant to an Agreement and
      Plan of Reorganization (the “Purchase Agreement”) effective July 26, 2006. In
      consideration for the Purchase Agreement, we shall pay to Big Fish One Hundred
      Fifty Thousand Dollars (US $150,000.00) (the “Cash Consideration”) in cash and
      delivered 4,952,380 shares of our common stock, $.001 par value per share (the
      “Common Stock”). The Cash Consideration shall be paid to Big Fish in six (6)
      equal monthly installments; each such payment to be made on or before the first
      day of each calendar month. The first installment shall be due in the second
      calendar month following the month in which the Closing occurs. The Cash
      Consideration may be prepaid in whole or in part, without penalty. The purchased
      assets consists of all of the assets used by Big Fish including but not limited
      to quotes, customer lists, accounts receivable, contracts, office furnishings,
      trademarks and other registered marks, all deposits including cash on hand,
      all
      intellectual property, domain names and rights owned by Big Fish against third
      parties. 

    

    Friendlyway
      delivered to Big Fish a certificate or certificates for Friendlyway common
      stock
      (the “Stock”) representing shares having an agreed aggregate value of One
      Million Three Hundred Fifty Thousand Dollars (US $1,350,000.00) (the “Stock
      Consideration”). The number of shares issued for the Stock Consideration was
      determined by dividing the foregoing agreed aggregate value by the adjusted
      closing bid price. For purposes of this paragraph, “adjusted closing bid price”
shall mean the closing bid price of the Stock on the Closing Date, as reflected
      on the Over-the-Counter Bulletin Board, reduced by an amount equal to twenty
      percent (20%) of such closing bid price. Big Fish is additionally entitled
      to a
      prorate adjustment to the number of shares issued if the adjusted closing bid
      price of the Stock is lower on the one year anniversary of the closing than
      on
      the date of closing. 

    

    In
      addition to the purchase price paid at closing, we agreed to issue and
      deliver Big Fish (or its designees) and Big Fish is entitled to receive one
      (1)
      share of Stock for every nine (9) dollars of target revenue generated by
      Friendlyway’s Big Fish division during each of the twelve (12) months following
      the month in which the Closing occurs. For purposes of this paragraph, “target
      revenue” means all revenues in excess of $780,000.00. Any certificate(s) for
      shares to which Big Fish is entitled pursuant to this sub-paragraph shall be
      issued by Friendlyway on a quarterly (non-calendar) basis; such certificates
      to
      be issued on or before the fifteenth (15th)
      day of
      the month following the end of the quarter.

    

    This
      above description of the Purchase and the transactions contemplated thereby
      is
      not a complete description of the terms of the Purchase Agreement or the
      transactions contemplated thereby and is qualified in its entirety by reference
      to the agreements entered into in connection with the transaction, copies of
      which are included as exhibits to this Current Report on Form 8-K.

    

    
      
         

      

      
         

        
          

        

      

      
         

      

       

    

    SECTION
      3 - SECURITIES AND TRADING MARKETS

     

    
      
        	Item
                3.02.	
                Unregistered
                  Sales of Equity
                  Securities.

              

      

       

    

    In
      connection with the transactions described in Item 2.01, we issued shares of
      Common Stock described therein. The shares were issued in reliance on the
      exemption from registration provided by Section 4(2) of the Act, on the basis
      that its issuance did not involve a public offering, no underwriting fees or
      commissions were paid by us in connection with such sale and Big Fish
      represented to us that is was an “accredited investor”, as defined in the
      Act.

     

    SECTION
      9 - FINANCIAL STATEMENTS AND EXHIBITS

     

    
      
        	Item
                9.01	
                Financial
                  Statements and
                  Exhibits.

              

      

    

     

    
      	
              (c) 

            	 	
              Exhibits. 

            
	 	 	 
	
              Number

            	
               

            	
              Documents

            
	
               

            	
               

            	
               

            
	
              10.1

            	
               

            	
              Agreement
                and Plan of Reorganization, by and between our company and Big Fish
                Marketing Group, Inc, dated August 7, 2006 and effective July 26,
                2006.

            
	
               

            	
               

            	
               

            
	
              99.1

            	
               

            	
              Press
                Release issued on August 7, 2006.

            

    

     

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    SIGNATURES

    

    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.

    

    
      	
               

            	
              Friendlyway
                Corporation

            
	
               

            	
               

            	
               

            
	
               

            	
               

            	
               

            
	
              Date:  August
                10, 2006

            	
              By: 
                

            	
              /s/
                Ken Upcraft

            
	
               

            	
               

            	
              Ken
                Upcraft

            
	
               

            	
               

            	
              Chief
                Executive Officer

            

    

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    
      	 	 	EXHBIT
              INDEX 
	 	 	 
	
              Number

            	
               

            	
              Documents

            
	
               

            	
               

            	
               

            
	
              10.1

            	
               

            	
              Agreement
                and Plan of Reorganization, by and between our company and Big Fish
                Marketing Group, Inc, dated August 7, 2006 and effective July 26,
                2006.

            
	
               

            	
               

            	
               

            
	
               

            	
               

            	
               

            
	
               

            	
               

            	
               

            
	
              99.1

            	
               

            	
              Press
                Release issued on August 7, 2006.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): August 15,
      2006

     

    friendlyway
      Corporation

    (Exact
      name of Registrant as Specified in its Charter) 

     

    
      	
               
                Nevada

            	
              0-20317

            	
              88-0270266

            
	
               
                (State or Other Jurisdiction of 

              Incorporation
                or Organization) 

            	
              (Commission
                file number)

            	
              (I.R.S.
                Employer 

              Identification
                Number)

            

    

     

    7222
      Commerce Center Drive, Suite 240

    Colorado
      Springs, CO 80919 

    (Address
      of Principal Executive Offices including Zip Code) 

     

    (719)
      359-5533 

    (Registrant's
      Telephone Number, Including Area Code) 

     

     

    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))

            

    

     

     

    
      
         

      

      
         

        
          

        

      

      
         

      

       

    

    SECTION
      1 - REGISTRANT’S BUSINESS AND OPERATIONS

    

    SECTION
      3 - SECURITIES AND TRADING MARKETS

     

    
      
        	Item3.02.	
                Unregistered
                  Sales of Equity
                  Securities.

              

      

    

    

    The
      Company has reviewed certain historical transactions to determine validity
      of
      company shares previously issued in exchange for consideration. The Company
      has
      not been able to determine the validity or consideration received for the
      issuance of 15,560,000 shares of Company common stock par value $.001.

     

    Therefore,
      due to the lack of consideration for the issued shares, the Company has
      cancelled the issuance of 15,560,000 effective Monday, August 14, 2006. This
      reduces the total issued and outstanding shares of common stock par value $.001
      of the Company by 15,560,000 shares effective that date.

     

    
      
        

      

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    SIGNATURES

    

    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.

    

    
      	
               

            	
              Friendlyway
                Corporation

            	
               

            
	
               

            	
               

            	
               

            	
               

            
	
               

            	
               

            	
               

            	
               

            
	
              Date:  August
                15, 2006

            	
              By: 
                

            	
              /s/
                Ken
                Upcraft                  
                

            	
               

            
	
               

            	
               

            	
              Ken
                Upcraft

            	
               

            
	
               

            	
               

            	
              Chief
                Executive Officer

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