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<A NAME=A001></A>
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>SECURITIES AND EXCHANGE
COMMISSION <BR>Washington, D.C. 20549 </FONT></P>

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<A NAME=A003></A>
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>FORM 8-K </FONT></P>

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<A NAME=A004></A>
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>CURRENT REPORT </U></FONT></P>

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<P ALIGN="Center"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934 </FONT></P>

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<A NAME=A005></A>
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Date of Report (Date of
Earliest Event) March 10, 2005 </FONT></P>

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<A NAME=A006></A>
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>Golden Eagle
International, Inc. </U><BR>(Exact Name of
Registrant as Specified in its Charter) </FONT></P>


<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="600" ALIGN="Center">
<TR VALIGN=Bottom>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TH></TR>
<TR VALIGN=Bottom>
     <TD WIDTH=38% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;<U>Colorado</U></FONT></TD>
     <TD WIDTH=30% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>0-23726</U></FONT></TD>
     <TD WIDTH=32% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>84-1116515</U></FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(State or Other</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(Commission</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(I.R.S. Employer</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Jurisdiction of</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>File Number)</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Identification</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;Incorporation)</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>No.)</FONT></TD></TR>

</TABLE>

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<A NAME=A008></A>
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>12401 South 450
East, Building D1, Salt Lake City, Utah 84020 </U><BR>(Address of Principal
Executive Offices) (Zip Code) </FONT></P>

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<A NAME=A010></A>
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>(801) 619-9320 </U><BR>(Registrant&#146;s
Telephone Number, Including Area Code) </FONT></P>

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<A NAME=A012></A>
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>Not Applicable</U>  <BR>(Former Name or Former
Address, If Changed Since Last Report.) </FONT></P>
<BR><BR><BR>
<HR>
<BR>
<BR><BR>

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<A NAME=A017></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Section 1 &#150;
Registrant&#146;s Business and Operations </FONT></H1>

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<A NAME=A018></A>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>Item 1.01 Entry into a
Material Definitive Agreement</I> </FONT></P>

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<A NAME=A019></A>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>See</I>, Item 3.02 below.</FONT></P>

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<A NAME=A020></A>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>Item 1.02 Termination of
a Material Definitive Agreement </I></FONT></P>

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<A NAME=A021></A>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;None.</FONT></P>

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<A NAME=A022></A>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>Item 1.03 Bankruptcy or
Receivership</I> </FONT></P>

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<A NAME=A023></A>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;None.</FONT></P>

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<A NAME=A024></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Section 2 &#151;
Financial Information </FONT></H1>

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<A NAME=A025></A>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>Item 2.01 Completion of
Acquisition or Disposition of Assets </I></FONT></P>

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<A NAME=A026></A>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;None.</FONT></P>

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<A NAME=A027></A>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>Item 2.02 Results of
Operations and Financial Condition</I> </FONT></P>

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<A NAME=A028></A>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;None.</FONT></P>


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<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>Item 2.03         Creation of a Direct Financial Obligation or an Obligation Under an Off-Balance Sheet Arrangement of a Registrant</I> </FONT></P>
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<A NAME=A029></A>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;None</FONT></P>


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<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>Item 2.04         Triggering  Events That Accelerate or Increase a Direct  Financial  Obligation or an Obligation Under and Off-Balance Sheet
Arrangement</I> </FONT></P>
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<A NAME=A030></A>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</I></FONT></P>

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<A NAME=A031></A>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;None.</FONT></P>

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<A NAME=A032></A>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>Item 2.05 Costs
Associated with Exit or Disposal Activities</I> </FONT></P>

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<A NAME=A033></A>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;None.</FONT></P>

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<A NAME=ge_item206></A>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>Item 2.06 Material
Impairments</I> </FONT></P>

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<A NAME=A035></A>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;None.</FONT></P>

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<A NAME=A036></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Section 3 &#151;
Securities Trading Markets </FONT></H1>


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<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>Item 3.01         Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing</I> </FONT></P>

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<A NAME=A037></A>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;None.</FONT></P>

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<A NAME=A038></A>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>Item 3.02 Unregistered
Sales of Equity Securities</I> </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>On March 10, 2005, Golden Eagle
entered into an agreement to issue up to 3,500,000 shares of our Series A Convertible
Preferred Stock to one accredited investor, Polion do Brasil, S.A. (&#147;Polion&#148;), a
Brazilian investment group. Pursuant to the terms of the subscription agreement, Polion
agreed to purchase 3,500,000 shares of Series A Convertible Preferred Stock for a price of
$1.00 per share, of which not less than $350,000 per month will be invested on or before
the first day of each month commencing April 1, 2005, with a grace period of fifteen (15)
days thereafter. We have not yet received any investment from Polion and we have not yet
issued any shares. The following sets forth the information required by Item 701 in
connection with these transactions: </FONT></P>
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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
 (a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Polion committed to the transaction when it executed the subscription agreement and
delivered it to Golden Eagle (which Golden Eagle received on March 10, 2005). Golden Eagle
has not yet received the first investment and no shares have yet been issued. There is no
penalty for Polion failing to make the first investment. Thereafter, if Polion fails to
make any subsequent investment: </FONT></P>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>o  </FONT></TD>
<TD WIDTH=85%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Polion
will lose the right to make any further investment;  and </FONT></TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>o </FONT></TD>
<TD WIDTH=85%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
The conversion terms for the Series A Stock will be changed to a minimum of $0.25 per
share (if Polion has invested less than $1,000,000 in the aggregate); $0.20 per share (if
Polion has invested more than $1,000,000 but less than $2,000,000); and $0.15 per share
(if Polion has invested more than $2,000,000 but less than the full $3,500,000. </FONT></TD>
</TR>
</TABLE>
<BR>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Assuming that Polion completes its
investment as anticipated, the Series A Convertible Preferred Stock will be convertible
into shares of common stock at 50% of the average of the closing price for those shares
reported on the OTC Bulletin Board (or other principal market for Golden Eagle&#146;s
common stock) for the three trading days prior to the date the Corporation receives the
Holder&#146;s written notice of conversion, or $0.10 per share, whichever is greater. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Should Golden Eagle&#146;s common
stock trade at $0.15 or less per share for the 15 trading days prior to the date Golden
Eagle receives the holder&#146;s written notice of conversion, then, and only then, shall
the holder be entitled to exercise its preferred shares for 50% of the average of the
closing market price for those shares for the three trading days prior to the date of
receipt of the written notice, provided however that in no event will the conversion price
be less than $0.05 per share. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Finally, all outstanding shares of
the Series A Convertible Preferred Stock will automatically convert into common stock when
a majority of the Series A holders consent to such a conversion. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;        There was no placement agent or underwriter for this transaction.</FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The total offering price is $3,500,000.&nbsp; No underwriting discounts or commissions
were paid. </FONT></P>
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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; We relied on the exemption
from registration provided by Section 4(2), Section 4(6) of the Securities Act of 1933, as
well as Regulation S inasmuch as Polion is not a U.S. Person (as that term is defined in
Regulation S). </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>We did not engage in any public
advertising or general solicitation in connection with this transaction. We provided
Polion with disclosure of all aspects of our business, including providing Polion with our
reports filed with the Securities and Exchange Commission, our press releases, access to
our auditors, and other financial, business, and corporate information.&nbsp; Based on our
investigation, we believe that this accredited investor obtained all information regarding
Golden Eagle that it requested, received answers to all questions that it posed, and
otherwise understood the risks of accepting our securities for investment purposes. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Series A Convertible Preferred Stock is convertible into common stock as described
in paragraph (a), above.&nbsp; We have no registration obligation with respect to the
shares of restricted common stock issued. The Series A Convertible Preferred Stock is
subject to normal anti-dilution adjustments. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          We have not yet received any investment proceeds. When received, Golden Eagle
          expects to use the proceeds to pursue several goals related to its Buen Futuro
          project in eastern Bolivia, including initiating dismantling its Gold Bar mill
          and plant located in Eureka, Nevada, as well as shipping and re-erection in
          Bolivia once it has completed its funding. Proceeds from this investment will
          also be used to pay existing creditors and cover overhead expenses during the
          dismantling and re-erection period. </FONT></P>





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<A NAME=A040></A>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>Item 3.03 Material
Modification to Rights of Security Holders</I> </FONT></P>

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<A NAME=A041></A>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;None.</FONT></P>

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<A NAME=A042></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Section 4 &#151; Matters
Related to Accountants and Financial Statements </FONT></H1>

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<A NAME=A043></A>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>Item 4.01 Changes in
Registrant&#146;s Certifying Accountants</I> </FONT></P>

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<A NAME=A044></A>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;None.</FONT></P>


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<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>Item 4.02         Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review</I> </FONT></P>
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<A NAME=A045></A>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;None.</FONT></P>

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<A NAME=A046></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Section 5 &#151;
Corporate Governance and Management </FONT></H1>

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<A NAME=A047></A>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>Item 5.01 Changes in
Control of Registrant</I> </FONT></P>

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<A NAME=A048></A>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;None.</FONT></P>


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<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>Item 5.02         Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers</I> </FONT></P>
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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;None. </FONT></P>

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<A NAME=A050></A>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>Item 5.03 Amendments to
Articles of Incorporation or Bylaws; Change in Fiscal Year</I> </FONT></P>

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<A NAME=A051></A>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;None.</FONT></P>

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<A NAME=A052></A>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>Item 5.04 Temporary
Suspension of Trading Under Registrant&#146;s Employee Benefit Plans</I> </FONT></P>

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<A NAME=A053></A>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;None.</FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>Item 5.05 </I> <I>Amendments to
the Registrant&#146;s Code of Ethics, or Waiver of a Provision of the Code of Ethics.</I> </FONT></P>

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<A NAME=A054></A>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;None.</FONT></P>

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<A NAME=A055></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Section 6 &#151;
[Reserved] </FONT></H1>

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<A NAME=A056></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Section 7 &#151; Regulation
FD </FONT></H1>

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<A NAME=ge_item701></A>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>Item 7.01 Regulation FD
Disclosure</I> </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;None. </FONT></P>


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<A NAME=A059></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Section 8 &#151; Other
Events </FONT></H1>

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<A NAME=A058></A>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>Item 8.01 Other Events</I> </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;None. </FONT></P>
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<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Section 9 &#151; Financial Statements and Exhibits </FONT></H1>

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<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>Item 9.01 <I>Financial Statements and Exhibits</I></I> </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>3.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<A HREF="ge_8kmar1005-certofdesig.htm">Certificate of Designation for the Series A Convertible Preferred Stock.</A> </FONT></P>
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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>3.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<A HREF="ge_8kmar1005-subagree.htm">Series A Convertible Preferred Stock Subscription Agreement. </A></FONT></P>



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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>SIGNATURE </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant caused
this report to be signed on its behalf by the undersigned, thereunto duly authorized, on the 21st day of March, 2005. </FONT></P>


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<TD WIDTH=50%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>Golden Eagle International, Inc. </B><BR><BR>
<BR>By: /s/ Terry C. Turner<BR>&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;<BR>
Terry C. Turner<BR>President and Chief Executive Officer<BR><BR>
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[{"type": "8-K", "sequence": "1", "filename": "ge_8kmar1005.htm", "secsgml_size_bytes": 24230}]
{"company-data": {"conformed-name": "GOLDEN EAGLE INTERNATIONAL INC", "cik": "0000869531", "assigned-sic": "1000", "irs-number": "841116515", "state-of-incorporation": "CO", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-23726", "film-number": "05699692"}, "business-address": {"street1": "12401 SOUTH 450 EAST", "street2": "BLDG D1", "city": "SALT LAKE CITY", "state": "UT", "zip": "84020", "phone": "8016199320"}, "mail-address": {"street1": "12401 SOUTH 450 EAST", "street2": "BLDG D1", "city": "SALT LAKE CITY", "state": "UT", "zip": "84020"}, "former-company": {"former-conformed-name": "BENEFICIAL CAPITAL FINANCIAL SERVICES CORP", "date-changed": "19940329"}}
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) March 10, 2005
Golden Eagle
International, Inc.
(Exact Name of
Registrant as Specified in its Charter)
Colorado
0-23726
84-1116515
(State or Other
(Commission
(I.R.S. Employer
Jurisdiction of
File Number)
Identification
Incorporation)
No.)
12401 South 450
East, Building D1, Salt Lake City, Utah 84020
(Address of Principal
Executive Offices) (Zip Code)
(801) 619-9320
(Registrant's
Telephone Number, Including Area Code)
Not Applicable
(Former Name or Former
Address, If Changed Since Last Report.)
Section 1 –
Registrant's Business and Operations
Item 1.01 Entry into a
Material Definitive Agreement
See
, Item 3.02 below.
Item 1.02 Termination of
a Material Definitive Agreement
None.
Item 1.03 Bankruptcy or
Receivership
None.
Section 2 —
Financial Information
Item 2.01 Completion of
Acquisition or Disposition of Assets
None.
Item 2.02 Results of
Operations and Financial Condition
None.
Item 2.03         Creation of a Direct Financial Obligation or an Obligation Under an Off-Balance Sheet Arrangement of a Registrant
None
Item 2.04         Triggering  Events That Accelerate or Increase a Direct  Financial  Obligation or an Obligation Under and Off-Balance Sheet
Arrangement
None.
Item 2.05 Costs
Associated with Exit or Disposal Activities
None.
Item 2.06 Material
Impairments
None.
Section 3 —
Securities Trading Markets
Item 3.01         Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
None.
Item 3.02 Unregistered
Sales of Equity Securities
On March 10, 2005, Golden Eagle
entered into an agreement to issue up to 3,500,000 shares of our Series A Convertible
Preferred Stock to one accredited investor, Polion do Brasil, S.A. ("Polion"), a
Brazilian investment group. Pursuant to the terms of the subscription agreement, Polion
agreed to purchase 3,500,000 shares of Series A Convertible Preferred Stock for a price of
$1.00 per share, of which not less than $350,000 per month will be invested on or before
the first day of each month commencing April 1, 2005, with a grace period of fifteen (15)
days thereafter. We have not yet received any investment from Polion and we have not yet
issued any shares. The following sets forth the information required by Item 701 in
connection with these transactions:
(a)       
Polion committed to the transaction when it executed the subscription agreement and
delivered it to Golden Eagle (which Golden Eagle received on March 10, 2005). Golden Eagle
has not yet received the first investment and no shares have yet been issued. There is no
penalty for Polion failing to make the first investment. Thereafter, if Polion fails to
make any subsequent investment:
o
Polion
will lose the right to make any further investment;  and
o
The conversion terms for the Series A Stock will be changed to a minimum of $0.25 per
share (if Polion has invested less than $1,000,000 in the aggregate); $0.20 per share (if
Polion has invested more than $1,000,000 but less than $2,000,000); and $0.15 per share
(if Polion has invested more than $2,000,000 but less than the full $3,500,000.
Assuming that Polion completes its
investment as anticipated, the Series A Convertible Preferred Stock will be convertible
into shares of common stock at 50% of the average of the closing price for those shares
reported on the OTC Bulletin Board (or other principal market for Golden Eagle's
common stock) for the three trading days prior to the date the Corporation receives the
Holder's written notice of conversion, or $0.10 per share, whichever is greater.
Should Golden Eagle's common
stock trade at $0.15 or less per share for the 15 trading days prior to the date Golden
Eagle receives the holder's written notice of conversion, then, and only then, shall
the holder be entitled to exercise its preferred shares for 50% of the average of the
closing market price for those shares for the three trading days prior to the date of
receipt of the written notice, provided however that in no event will the conversion price
be less than $0.05 per share.
Finally, all outstanding shares of
the Series A Convertible Preferred Stock will automatically convert into common stock when
a majority of the Series A holders consent to such a conversion.
(b)               There was no placement agent or underwriter for this transaction.
(c)       
The total offering price is $3,500,000.  No underwriting discounts or commissions
were paid.
(d)        We relied on the exemption
from registration provided by Section 4(2), Section 4(6) of the Securities Act of 1933, as
well as Regulation S inasmuch as Polion is not a U.S. Person (as that term is defined in
Regulation S).
We did not engage in any public
advertising or general solicitation in connection with this transaction. We provided
Polion with disclosure of all aspects of our business, including providing Polion with our
reports filed with the Securities and Exchange Commission, our press releases, access to
our auditors, and other financial, business, and corporate information.  Based on our
investigation, we believe that this accredited investor obtained all information regarding
Golden Eagle that it requested, received answers to all questions that it posed, and
otherwise understood the risks of accepting our securities for investment purposes.
(e)        The Series A Convertible Preferred Stock is convertible into common stock as described
in paragraph (a), above.  We have no registration obligation with respect to the
shares of restricted common stock issued. The Series A Convertible Preferred Stock is
subject to normal anti-dilution adjustments.
(f)       
          We have not yet received any investment proceeds. When received, Golden Eagle
          expects to use the proceeds to pursue several goals related to its Buen Futuro
          project in eastern Bolivia, including initiating dismantling its Gold Bar mill
          and plant located in Eureka, Nevada, as well as shipping and re-erection in
          Bolivia once it has completed its funding. Proceeds from this investment will
          also be used to pay existing creditors and cover overhead expenses during the
          dismantling and re-erection period.
Item 3.03 Material
Modification to Rights of Security Holders
None.
Section 4 — Matters
Related to Accountants and Financial Statements
Item 4.01 Changes in
Registrant's Certifying Accountants
None.
Item 4.02         Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review
None.
Section 5 —
Corporate Governance and Management
Item 5.01 Changes in
Control of Registrant
None.
Item 5.02         Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers
None.
Item 5.03 Amendments to
Articles of Incorporation or Bylaws; Change in Fiscal Year
None.
Item 5.04 Temporary
Suspension of Trading Under Registrant's Employee Benefit Plans
None.
Item 5.05
Amendments to
the Registrant's Code of Ethics, or Waiver of a Provision of the Code of Ethics.
None.
Section 6 —
[Reserved]
Section 7 — Regulation
FD
Item 7.01 Regulation FD
Disclosure
None.
Section 8 — Other
Events
Item 8.01 Other Events
None.
Section 9 — Financial Statements and Exhibits
Item 9.01
Financial Statements and Exhibits
3.1
Certificate of Designation for the Series A Convertible Preferred Stock.
3.2
Series A Convertible Preferred Stock Subscription Agreement.
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant caused
this report to be signed on its behalf by the undersigned, thereunto duly authorized, on the 21st day of March, 2005.
Golden Eagle International, Inc.
By: /s/ Terry C. Turner
——————————————
Terry C. Turner
President and Chief Executive Officer