SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

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                                    FORM 8-K

                                 CURRENT REPORT

                     PURSUANT TO SECTION 13 OR 15(D) OF THE
                         SECURITIES EXCHANGE ACT OF 1934

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                         Date of Report: OCTOBER 2, 2003
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                            NUWAVE TECHNOLOGIES, INC.
                            -------------------------
               (EXACT NAME OF REGISTRANT AS SPECIFIED IN CHARTER)


          DELAWARE                      0-28606                  22-3387630
(State or other jurisdiction          (Commission              (IRS Employer
      of incorporation)               File Number)           Identification No.)

                               ONE PASSAIC AVENUE
                           FAIRFIELD, NEW JERSEY 07004
                    (Address of principal executive offices)

                                 (973) 882-8810
                                 --------------
                (Registrant's Executive Office Telephone Number)

                                      A-1


ITEM 1.  CHANGE IN CONTROL OF REGISTRANT

     As  previously  provided in a Form 8-K filing,  NUWAVE  Technologies,  Inc.
entered into an Agreement with Cornell Capital Partners,  LP to settle a default
on its indebtedness owed to Cornell Capital Partners. Pursuant to the Agreement,
Cornell Capital Partners and NUWAVE agreed to the following:

     o        Cornell   Capital   Partners   agreed  not  to  foreclose  on  its
         outstanding indebtedness owed by NUWAVE.

     o        Cornell Capital Partners agreed to enter into a new loan agreement
         with NUWAVE for net proceeds of $195,000 to be used to satisfy  certain
         outstanding  obligations of NUWAVE,  including trade  payables,  unpaid
         wages, and settlement of employment agreements.

     o        Cornell  Capital  Partners  will  consider  providing   additional
         capital to NUWAVE and assisting in identifying new businesses.

     o        Cornell  Capital  Partners  intends to  maintain  NUWAVE's  public
         filings and status.

     o        Gerald Zarin, NUWAVE's Chief Executive Officer and Chairman of the
         Board of Directors,  and Jeremiah  O'Brien,  NUWAVE's  Chief  Financial
         Officer,  resigned all positions with NUWAVE. Messrs. Zarin and O'Brien
         also received a settlement  consisting of cash and warrants to purchase
         shares  of  NUWAVE's  common  stock at an  exercise  price of $1.00 per
         share.

     o        NUWAVE's  board of  directors  appointed a nominee to its board of
         directors selected by Cornell Capital Partners. Except for the nominee,
         NUWAVE's other board members resigned.

     The Agreement was consummated on September 29, 2003.



                                   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.

Dated: October 2, 2003                     NUWAVE TECHNOLOGIES INC.


                                           By:   /s/ George Kanakis
                                              ---------------------------
                                               Name: George Kanakis
                                               Its:  President