SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 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) May 7, 1999

                             Global Intellicom, Inc.
               (Exact Name of Registrant as Specified in Charter)

           Nevada                   0-26684                 13-3797104
(State or Other Jurisdiction      (Commission             (IRS Employer
      of Incorporation)            File Number)          Identification No.)

                   630 Fifth Avenue, New York, New York 10111
               (Address of Principal Executive Offices) (Zip Code)
        Registrant's telephone number, including area code (212) 332-7918

                   747 Third Avenue, New York, New York 10017
          (Former Name or Former Address, if Changed Since Last Report)



Item 5. Other Events.

      On May 7, 1999, the  Registrant  filed a report with the Federal Bureau of
Investigation  ("FBI")  to the effect  that in  connection  with the  closing of
offices of Global InSync, Incorporated, Vircom TG, Inc. and Vircom, Inc., all of
which are  subsidiaries  of the  Registrant,  the Registrant  suffered losses of
inventory,  equipment and fixed assets totaling  approximately  $2,000,000.  The
inventory  losses  include  inventory  necessary  for the  completion of work in
progress. The equipment losses include computers and peripherals,  including the
computer  servers which  contained the data necessary for the preparation of the
operating results of these subsidiaries.  The fixed assets include furniture and
fixtures at the various offices.  The  Registrant's  operations for 1999 will be
severely adversely effected by these losses.

      The Registrant believes that the losses at the various offices are related
and are the  result of  wrongful  acts by  former  employees.  Accordingly,  the
Registrant has also reported these losses to its insurance carrier. However, the
Registrant has not received the insurance carrier's response to its claim.

      As a result of the loss of the computer  servers,  the Registrant has been
unable to complete its  financial  reports for the year ended  December 31, 1998
and will be unable to  compete  its  Quarterly  Report  on Form  10-QSB  for the
quarter ended March 31, 1999 in a timely fashion. The Registrant will make every
effort to complete these  reports,  but can give no assurance as to when it will
be able to do so.

      As a result of these losses,  the Registrant's plan to spin off a minority
interest in its cabling  subsidiary to its shareholders is being delayed because
the Registrant can not currently prepare the required financial information.



                                   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.

                                                Global Intellicom, Inc.
Date: May 14, 1999                              By: /s/ N. Norman Muller
                                                    ---------------------
                                                    N. Norman Muller, Chairman