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 20, 2010
BEACON
ENTERPRISE SOLUTIONS GROUP, INC.
(Exact
name of registrant as specified in Charter)
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Nevada
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000-31355
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81-0438093
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(State
or other jurisdiction of
incorporation
or organization)
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(Commission
File No.)
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(IRS
Employee Identification
No.)
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1311
Herr Lane, Suite 205
Louisville,
Kentucky 40222
(Address
of Principal Executive Offices)
502-
657-3500
(Registrant's
telephone number, including area code)
N/A
(Former
name or former address, if changed since last report.)
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):
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¨
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
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¨
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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¨
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
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¨
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
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As
discussed in Beacon Enterprise Solutions Group, Inc. (“Beacon”) Form 10-Q on
August 16, 2010 and on the Fiscal Third Quarter Conference Call on August 17,
2010 (the “Conference Call”), Beacon intends to pursue all available avenues to
reach a satisfactory conclusion related to the data center construction project
in Zurich, Switzerland (the “Project”). As discussed on the Conference
Call, the dispute related to project scope, change orders, etc. which impacted
Beacon’s consolidated gross operating margins and contributed to Beacon’s
decision to discontinue operations of Beacon Solutions AG (“Beacon AG”), the
Swiss based operating company which holds the contract for the Project. Only the
operations of Beacon AG were discontinued for financial reporting
purposes. Beacon continues to operate in Europe through its wholly owned
subsidiary BESG Ireland Ltd, which holds the Company’s European engagements with
the subsidiaries of its U.S. based pharmaceutical clients and operates the
Company’s support center and dispatch operation in Prague, Czech
Republic.
The total
of all invoices submitted for work performed by Beacon AG through June 30, 2010
total $24.6 million. Net Sales recognized by Beacon AG through the third
fiscal quarter ended June 30, 2010 totaled $16.6 million. Unrecognized Net Sales
from discontinued operations related to invoices for all work performed and
completed by Beacon AG during the third fiscal quarter ended June 30, 2010
totaled $8.0 million. Net Liabilities related to discontinued operations during
the third fiscal quarter ended June 30, 2010 totaled $7.1 million.
The
information in this Current Report on Form 8-K is being furnished pursuant to
Item 7.01 of Form 8-K and shall not be deemed “filed” for the purposes of
Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise
subject to the liabilities of that Section. The information in this Current
Report on Form 8-K shall not be incorporated by reference into any registration
statement or other document filed pursuant to the Securities Act of 1933, as
amended, except as shall be expressly set forth by specific reference in such
filing.
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 thereunto
duly authorized.
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BEACON
ENTERPRISE SOLUTIONS
GROUP,
INC.
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Date:
August 20, 2010
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By:
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/s/
Michael Grendi
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Michael
Grendi,
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Principal
Financial Officer
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