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): March 14, 2004


                           Parallel Technologies, Inc.
             (Exact name of registrant as specified in its charter)

                                     Nevada
                            (State of incorporation)


                 0-19276                                13-3140715
        (Commission File Number)         (I.R.S. Employer Identification Number)


          211 West Wall Street
             Midland, Texas                              79701-4556
(Address of principal executive offices)                 (Zip Code)


                                 (432) 682-1761
              (Registrant's telephone number, including area code)

                                 Not Applicable
         (Former name or former address, if changed since last report.)






Item 1.  Changes in Control of Registrant

         On  February  18,  2004,  the  Registrant  sold  20,000,000  shares  of
restricted  common  stock at $.006 per share for  gross  proceeds  of  $120,000,
pursuant to a  subscription  agreement,  to Glenn A. Little.  As a result of the
purchase, Glenn Little is the controlling shareholder,  owning 20,000,000 shares
of the  39,243,659  issued and  outstanding  shares of the  Registrant's  common
stock, or 50.9%, of the common stock of the Registrant.  Immediately  subsequent
to and as a result of the closing of the subscription  agreement Glenn A. Little
was  appointed to the Board of Directors  and all other  directors  and officers
resigned.  Mr. Little was elected as Chief  Executive  Officer,  President Chief
Operating  Officer,  Chairman  of the  Board,  Secretary  and  Treasurer  of the
Registrant.


   Exhibit No.             Description

      99.1                 Subscription Agreement dated February 18, 2004 by and
                           between the Registrant and Glenn A. Little


                                   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.


                                                     Parallel Technologies, Inc.


                                                     By: /s/ Glenn A. Little
                                                        ------------------------
                                                        Glenn A.Little
                                                        Chief Executive Officer
Date:  March  24, 2004