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
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Date
of Report (Date of earliest event reported): October 21 2010
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CAPITAL
GROWTH SYSTEMS, INC.
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(Exact
Name of Registrant as Specified in Its
Charter)
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Florida
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0-30831
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65-0953505
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(State
or other jurisdiction of incorporation)
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(Commission
File Number)
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(I.R.S.
Employer Identification No.)
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200
S. Wacker, Suite 1650, Chicago, Illinois 60606
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(Address
of Principal Executive Offices, Including Zip
Code)
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(312)
673-2400
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(Registrant’s
Telephone Number, Including Area
Code)
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Not
Applicable
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(Former
Name or Former Address, if Changed Since Last
Report)
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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:
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o
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
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o
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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o
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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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o
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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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Item
8.01. Other
Events.
Capital
Growth Systems, Inc. (CGSYQ.OB) (the “Company”), together with its wholly owned
subsidiaries Global Capacity Direct, LLC, Global Capacity Group, Inc.,
CentrePath, Inc., FNS 2007, Inc., 20/20 Technologies, Inc., 20/20 Technologies
I, LLC, Global Capacity Holdco, LLC, Nexvu Technologies, LLC, Capital Growth
Acquisition, Inc. (each a “Debtor” and collectively with the Company, the
“Debtors”) are presently subject to Bankruptcy Court proceedings in the U.S.
Bankruptcy Court, District of Delaware. The Debtors commenced the
auction for the sale of the Debtors’ assets as scheduled on October 21,
2010. The bidding process was commenced but not
concluded. The auction will be reconvened in New York City at the
offices of Olshan Grundman on Monday, October 25, 2010.
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 22, 2010
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CAPITAL
GROWTH SYSTEMS, INC.
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By:
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/s/Patrick
C. Shutt
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Patrick
C. Shutt
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CEO
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