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):  April 13, 2004

                          BUY IT CHEAP.COM, INC.
        (Exact name of Registrant as Specified in its Charter)

        Delaware                0-13337                22-2497491
  (State of Incorporation)  (Commission File     (IRS Employer
                             Number)              Identification No.)

                1800 Bloomsbury Avenue, Ocean NJ 07712
               (Address of principal executive offices)

                            (732) 922-3355
                     Registrant's Telephone Number

Item 5         Entry into a Material Acquisition Agreement

     On April 13, 2004 the Registrant entered into a Share Exchange Agreement
with the shareholders of Cashtech Investment Limited, a British Virgin Island
corporation.  Details of the arrangement are contained in the press release
dated April 16, 2004 filed as an exhibit to this report.


99.   Press release dated April 16, 2004.


     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.

                                BUY IT CHEAP.COM, INC.

Dated: April 16, 2004    By:   /s/Stephen E. Roman
                               Stephen E. Roman
                               Chief Financial Officer

                   *       *       *       *       *

                               EXHIBIT 99



     Stephen E. Roman, Chief Financial Officer
     (732) 922-3355

     Buy It, Inc. Agrees to Acquire Interest
     in Chinese Polymer Lithium-Ion Battery Manufacturer

Ocean, New Jersey   April 16, 2004   Buy It, Inc. (OTC
Bulletin Board: BYCC) announced that it has entered into a Share Exchange
Agreement with the shareholders of Cashtech Investment Limited, a British
Virgin Islands corporation.  Cashtech Investment Limited is a holding company
which owns 70% of the outstanding capital stock of Harbin Zhongqiang Power-
Tech Co., Inc., a China limited liability company ("ZQ Power-Tech").

ZQ Power-Tech owns a factory near Harbin, China where it designs and
manufactures rechargeable polymer lithium-ion batteries.  ZQ Power-Tech's
batteries are used in consumer products such portable computers, personal
digital assistants and cellular telephones.  ZQ Power-Tech also manufactures
larger batteries for use in motor scooters as well as encased batteries for
miners' lamps.  ZQ Power-Tech was founded in August 2002 and had only nominal
sales during 2003.  Currently, however, ZQ Power-Tech has a backlog of orders
for delivery in 2004 exceeding U.S. $4.5 million.

Closing of the acquisition is expected to take place in May, after
filings with the Securities and Exchange Commission and the State of Delaware
are made, an information statement is mailed to the shareholders of Buy It, and the parties complete their due diligence.  At the closing Buy
It will acquire all of the outstanding capital stock of Cashtech
Investment Limited, and will issue Buy It common stock and preferred
stock that will give the current owners of Cashtech Investment Limited
ownership of 91% of the equity in Buy It, Inc.

                     *       *       *        *       *