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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM 8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CURRENT REPORT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PURSUANT TO SECTION 13 OR 15(D) OF </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>THE SECURITIES EXCHANGE ACT OF 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Date of Report (Date of earliest event reported):
<B>October 24, 2012</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>VGTEL, INC.</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact Name of registrant as specified in
its Charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
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    <TD STYLE="padding-right: 0.8pt; text-align: center">New York</TD>
    <TD COLSPAN="2" STYLE="padding-right: 0.8pt; text-align: center">000-52983</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">01-0671426</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.8pt 0pt 0; text-align: center">(State or other jurisdiction of</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.8pt 0pt 0; text-align: center">incorporation)</P></TD>
    <TD COLSPAN="2" STYLE="padding-right: 0.8pt; text-align: center">(Commission File Number)</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">(IRS Employer Identification No.)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.8pt 0pt 0; text-align: center">400 Rella Blvd.,&nbsp;Suite 174</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.8pt 0pt 0; text-align: center">Suffern, NY</P></TD>
    <TD COLSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.8pt 0pt 0; text-align: center">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.8pt 0pt 0; text-align: center">10901</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 0.8pt; text-align: center">&nbsp;(Address of principal executive offices)</TD>
    <TD COLSPAN="2" STYLE="padding-right: 0.8pt; text-align: center">(Zip Code)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">(845) 368-0110</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="text-align: center">(Registrant&rsquo;s telephone number, including area code)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 0.8pt; text-align: center">N/A&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="text-align: center">(Former name or former address, if changed since last report)</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="width: 113px">&nbsp;</TD>
    <TD STYLE="width: 136px">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">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 below:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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    <TD STYLE="width: 5%; padding-right: 0.8pt; font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="width: 95%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.8pt 0pt 0">Written communications pursuant to Rule 425 under
        the Securities Act (17 CFR 230.425)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.8pt 0pt 0">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.8pt 0pt 0">Soliciting material pursuant to Rule 14a-12 under
        the Exchange Act (17 CFR 240.14a-12)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.8pt 0pt 0">&nbsp;</P></TD></TR>
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    <TD STYLE="padding-right: 0.8pt; font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.8pt 0pt 0">Pre-commencement communications pursuant to Rule 14d-2(b)
        under the Exchange Act (17CFR 240-14d-2(b))</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.8pt 0pt 0">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 10pt">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240-13e-4(c))</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Item 1.01 &#9;Entry into a Material Definitive Agreement.</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="text-underline-style: double"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="text-underline-style: double"><B><U>Item 3.02&#9;Unregistered
Sales of Equity Securities.</U></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="text-underline-style: double"><B><U>Item 8.01&#9;Other
Events.</U></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On September 11, 2012, VGTel, Inc. dba 360 Entertainment &amp;
Productions (the &ldquo;Company&rdquo;) issued a Press Release announcing its plan to<FONT STYLE="color: #222222"> reduce certain
of its outstanding liabilities in the second quarter of 2012, based on management&rsquo;s extensive review of accounts&nbsp;payable
and other obligations of the Company.</FONT>&nbsp;On October 23, 2012, the Company issued a follow-up Press Release announcing
the Company&rsquo;s completion of its initial plan to restructure a portion of its balance sheet by reducing its outstanding liabilities
by approximately $400,000. The Company had incurred liabilities to service providers over the last two years. In an effort to reduce
the Company&rsquo;s debt, certain of these liabilities were converted into shares of the Company&rsquo;s common stock, which enabled
the Company to reduce its outstanding debt substantially. The Company retired certain of its debts at an exchange rate of $.10
per share of common stock (which was determined through arm&rsquo;s-length negotiations with the debt holders), including accounts
payable to Horner &amp; Associates, Law Offices of Bruce W. Minsky, PC (which is affiliated with the Company&rsquo;s director,
Bruce Minsky), and The TW Ruban Group, Inc., in exchange for 3,940,714 shares of common stock. The total amount converted was $394,071.35.
These conversions represent approximately 38% of the total outstanding liabilities of the Company from continuing operations as
of July 31, 2012. The conversions will be included in the Company&rsquo;s quarterly report on Form 10-Q for the three months ended
September 30, 2012. The debt conversions were approved by the disinterested members of the Company&rsquo;s Board of Directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The shares of common stock issued in the debt conversions were
exempt from registration under Section 4(2) of the Securities Act of 1933 as a sale by an issuer not involving a public offering.
&nbsp;Such shares may not be offered or sold in the United States absent registration or an applicable exemption from the registration
requirements and certificates evidencing such shares contain a legend stating the same. Copies of the two Press Releases issued
by the Company are attached as Exhibits 99.1 and 99.2, and incorporated by reference herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 9.01&#9;Exhibits:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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    <TD STYLE="width: 12%; padding-right: 0.8pt; font-size: 10pt">Exhibit 99.1</TD>
    <TD STYLE="width: 88%; padding-right: 0.8pt; font-size: 10pt">Press Release issued September 11, 2012</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-right: 0.8pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD STYLE="padding-right: 0.8pt; font-size: 10pt">Exhibit 99.2</TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 10pt">Press Release issued October 23, 2012</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pursuant to the requirements of the Securities Exchange Act
of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0; margin-top: 0pt; margin-bottom: 6pt">&nbsp;</P>

<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2">VGTEL, INC.</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; width: 50%"><FONT STYLE="font-size: 10pt">Date:&nbsp; October
24, 2012</TD>
    <TD STYLE="width: 4%">By:&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 46%">/s/ Peter
W. Shafran</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: #000000 1px solid">Peter
W. Shafran<BR>(Authorized Officer of Registrant)</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0pt; margin-top: 0pt; margin-bottom: 6pt"></P>

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[{"type": "8-K", "sequence": "1", "filename": "v326643_8k.htm", "description": "FORM 8-K", "secsgml_size_bytes": 15564}]
{"company-data": {"conformed-name": "VGTel, Inc.", "cik": "0001355451", "assigned-sic": "7389", "irs-number": "010671426", "fiscal-year-end": "0331"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-52983", "film-number": "121159947"}, "business-address": {"street1": "400 RELLA BLVD.", "street2": "SUITE 174", "city": "SUFFERN", "state": "NY", "zip": "10901", "phone": "845-368-0110"}, "mail-address": {"street1": "400 RELLA BLVD.", "street2": "SUITE 174", "city": "SUFFERN", "state": "NY", "zip": "10901"}}
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):
October 24, 2012
VGTEL, INC.
(Exact Name of registrant as specified in
its Charter)
New York
000-52983
01-0671426
(State or other jurisdiction of
incorporation)
(Commission File Number)
(IRS Employer Identification No.)
400 Rella Blvd., Suite 174
Suffern, NY
10901
(Address of principal executive offices)
(Zip Code)
(845) 368-0110
(Registrant's telephone number, including area code)
N/A
(Former name or former address, if changed since last report)
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 below:
¨
Written communications pursuant to Rule 425 under
        the Securities Act (17 CFR 230.425)
¨
Soliciting material pursuant to Rule 14a-12 under
        the Exchange Act (17 CFR 240.14a-12)
¨
Pre-commencement communications pursuant to Rule 14d-2(b)
        under the Exchange Act (17CFR 240-14d-2(b))
¨
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240-13e-4(c))
Item 1.01 	Entry into a Material Definitive Agreement.
Item 3.02	Unregistered
Sales of Equity Securities.
Item 8.01	Other
Events.
On September 11, 2012, VGTel, Inc. dba 360 Entertainment &
Productions (the "Company") issued a Press Release announcing its plan to
reduce certain
of its outstanding liabilities in the second quarter of 2012, based on management's extensive review of accounts payable
and other obligations of the Company.
On October 23, 2012, the Company issued a follow-up Press Release announcing
the Company's completion of its initial plan to restructure a portion of its balance sheet by reducing its outstanding liabilities
by approximately $400,000. The Company had incurred liabilities to service providers over the last two years. In an effort to reduce
the Company's debt, certain of these liabilities were converted into shares of the Company's common stock, which enabled
the Company to reduce its outstanding debt substantially. The Company retired certain of its debts at an exchange rate of $.10
per share of common stock (which was determined through arm's-length negotiations with the debt holders), including accounts
payable to Horner & Associates, Law Offices of Bruce W. Minsky, PC (which is affiliated with the Company's director,
Bruce Minsky), and The TW Ruban Group, Inc., in exchange for 3,940,714 shares of common stock. The total amount converted was $394,071.35.
These conversions represent approximately 38% of the total outstanding liabilities of the Company from continuing operations as
of July 31, 2012. The conversions will be included in the Company's quarterly report on Form 10-Q for the three months ended
September 30, 2012. The debt conversions were approved by the disinterested members of the Company's Board of Directors.
The shares of common stock issued in the debt conversions were
exempt from registration under Section 4(2) of the Securities Act of 1933 as a sale by an issuer not involving a public offering.
 Such shares may not be offered or sold in the United States absent registration or an applicable exemption from the registration
requirements and certificates evidencing such shares contain a legend stating the same. Copies of the two Press Releases issued
by the Company are attached as Exhibits 99.1 and 99.2, and incorporated by reference herein.
Item 9.01	Exhibits:
Exhibit 99.1
Press Release issued September 11, 2012
Exhibit 99.2
Press Release issued October 23, 2012
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act
of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
VGTEL, INC.
Date:  October
24, 2012
By:
/s/ Peter
W. Shafran
Peter
W. Shafran
(Authorized Officer of Registrant)