content: 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)  April 17, 2005
                                                    --------------
  
  
                        Transnational Financial Network, Inc.
  -------------------------------------------------------------------------------
          (Exact name of small business issuer as specified in its charter)
  
  
  
  California                          1-14219                   94-2964195
  -------------------------------------------------------------------------------
  (State or other jurisdiction        (Commission File        (I.R.S.Employer
  of incorporation)                     Number)               Identification No.)
  
  401 Taraval Street, San Francisco, CA                          94116
  -------------------------------------------------------------------------------
  (Address of principal executive offices)                       (Zip Code)
  
  
  (Registrant's telephone number, including area code: (415) 242-7800
  
  
  ------------------------------------------------------------------------------
  (Former name, former address and former fiscal year, 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:
  
  [ ] 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 (17 CFR 240.14d-2(b))
  
  [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
  Act (17 CFR 240.13e-4(c))
  
  
  
  <PAGE>
  
  
         Section 4 - Matters Related to Accountants and Financial Statements
  
  Item 4.01 Changes in Registrant's Certifying Accountant.
  
       On April 17, 2006, Transnational Financial Network, Inc. (the "Company")
  dismissed Burr, Pilger & Mayer, LLP ("BPM") as the Company's independent
  auditor. Accordingly, the Company simultaneously appointed Bedinger & Company.
  as its independent auditors. BPM has been asked to submit a letter to the
  Securities & Exchange Commission to the effect that it agrees with the
  statements made in this Item 4.01, confirming that BPM had no disagreements with
  management of the Company related to matters that are material to the Company's
  2005 and 2004 financial statements, the last two year's financial statement on
  which Burr, Pilger & Mayer, LLP opined.
  
      Management represents as follows:
  
               (a) BPM's reports contained no adverse opinion or disclaimer of
           opinion, and were not qualified or modified as to uncertainty, audit
           scope, or accounting principles for the last two fiscal years or any
           later interim period through the date hereof.
  
               (b) The decision to change accountants from BPM to Bedinger &
           Company has been approved by the Company's Board of Directors.
  
               (c) During the registrant's two most recent fiscal years and the
           subsequent interim period through the date hereof, there were no
           disagreements with BPM on any matter of accounting principles or
           practices, financial statement disclosure, or auditing scope or
           procedure. The registrant has authorized BPM to respond fully to the
           inquiries of the successor accountant.
  
               (d) Other than as set forth in paragraph (e) hereof, BPM expressed
           no disagreement or difference of opinion regarding any "reportable"
           event as that term is defined in Item 304(a)(1)(iv) of Regulation S-K,
           including but not limited to:
  
                        (i) BPM has not advised the registrant that the internal
                    controls necessary for the registrant to develop reliable
                    financial statements do not exist;
  
                        (ii) BPM has not advised the registrant that information
                    has come to BPM's attention that has led it to no longer be
                    able to rely on management's representations, or that has made
                    it unwilling to be associated with the financial statements
                    prepared by management;
  
                        (iii) BPM has not advised the registrant of the need to
                    expand significantly the scope of its audit, or notified the
                    registrant that information has come to BPM's attention that
                    BPM has concluded will or that if further investigated may (A)
                    materially impact the fairness or reliability of either: a
                    previously issued audit report or the underlying financial
                    statements, or the financial statements issued or to be issued
                    covering the fiscal period(s) subsequent to the date of the
                    most recent financial statements covered by an audit report
                    (including information that might preclude it from rendering
                    an unqualified audit report), or (B) cause it to be unwilling
                    to rely on management's representations or be associated with
                    the registrant's financial statements, and due to the BPM's
                    resignation (due to audit scope limitations or otherwise) or
                    dismissal, or for any other reason, BPM did not so expand the
                    scope of its audit or conduct such further investigation;
  
                        (iv) BPM has not advised the registrant that information
                    has come to BPM's attention that it has concluded materially
                    impacts the fairness or reliability of either (A) a previously
                    issued audit report or the underlying financial statements, or
                    (B) the financial statements issued or to be issued covering
                    the fiscal period(s) subsequent to the date of the most recent
                    financial statements covered by an audit report (including
                    information that, unless resolved to BPM's satisfaction, would
                    prevent it from rendering an unqualified audit report on those
                    financial statements), and due to BPM's replacement, or for
                    any other reason, the issue has not been resolved to BPM's
                    satisfaction prior to its resignation.
  
               (e) As disclosed in a Form 8-K filing dated February 23, 2006,
           pursuant to internal management review, the Company's management, audit
           committee, and BPM concluded that parts of the Company's accounting for
           the fair value of financial instruments pursuant to SFAS 133 and SAB
           105, which we adopted at the end of fiscal year 2004, was incorrect.
           There were two errors detected. First, there was an error in the
           underlying worksheets calculating the change in value of the Company's
           locked pipeline of mortgage loan commitments to borrowers. This error
           resulted in a reversal of the sign of the change in value the Locked
  
  <PAGE>
  
           Pipeline. Second, we did not properly account for the derivative value
           of the Best Efforts loan locks we secure with secondary market
           investors upon making loan commitments to borrowers.
  
               These matters affected the Company's Annual Report on Form 10-KSB
           for the years ended April 30, 2004 and 2005 and the Company's Quarterly
           Reports on Form 10-QSB for the quarters ended July 31, October 31, 2004
           and 2005 and the Company's Quarterly Report on Form 10-QSB for the
           quarter ended January 31, 2005. These financial statements that are
           affected by these matters have now been amended and filed.
  
               (f) The Company has not consulted with Bedinger & Company regarding
           the application of accounting principles to a specific completed or
           contemplated transaction, or the type of audit opinion that might be
           rendered on the Company's financial statements and has not received
           either written or oral advice that was a factor considered by the
           Company in reaching a decision as to any accounting, auditing or
           financial reporting issue or any matter that is discussed herein.
  
               (g) The registrant has provided BPM with a copy of the disclosures
           it is making in response to Item 304(a) of Regulation S-K. The
           registrant has requested that BPM furnish the registrant with a letter
           addressed to the Commission stating whether it agrees with the
           statements made by the registrant, a copy of which is provided herewith
           as Exhibit 16.
  
  
  
  
  <PAGE>
  
  
  
                                     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, thereby duly
  authorized.
  
  
  
      Date: April 18, 2006
                                         Transnational Financial Network, Inc.
  
  
                                         /s/ Joseph Kristul
                                         --------------------------------------
                                         Joseph Kristul, Chief Executive Officer
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text: 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)  April 17, 2005
                                                    --------------
  
                        Transnational Financial Network, Inc.
  -------------------------------------------------------------------------------
          (Exact name of small business issuer as specified in its charter)
  
  California                          1-14219                   94-2964195
  -------------------------------------------------------------------------------
  (State or other jurisdiction        (Commission File        (I.R.S.Employer
  of incorporation)                     Number)               Identification No.)
  
  401 Taraval Street, San Francisco, CA                          94116
  -------------------------------------------------------------------------------
  (Address of principal executive offices)                       (Zip Code)
  
  (Registrant's telephone number, including area code: (415) 242-7800
  
  ------------------------------------------------------------------------------
  (Former name, former address and former fiscal year, 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:
  
  [ ] 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 (17 CFR 240.14d-2(b))
  
  [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
  Act (17 CFR 240.13e-4(c))
  Section 4 - Matters Related to Accountants and Financial Statements
  
  Item 4.01 Changes in Registrant's Certifying Accountant.
  
       On April 17, 2006, Transnational Financial Network, Inc. (the "Company")
  dismissed Burr, Pilger & Mayer, LLP ("BPM") as the Company's independent
  auditor. Accordingly, the Company simultaneously appointed Bedinger & Company.
  as its independent auditors. BPM has been asked to submit a letter to the
  Securities & Exchange Commission to the effect that it agrees with the
  statements made in this Item 4.01, confirming that BPM had no disagreements with
  management of the Company related to matters that are material to the Company's
  2005 and 2004 financial statements, the last two year's financial statement on
  which Burr, Pilger & Mayer, LLP opined.
  
      Management represents as follows:
  
               (a) BPM's reports contained no adverse opinion or disclaimer of
           opinion, and were not qualified or modified as to uncertainty, audit
           scope, or accounting principles for the last two fiscal years or any
           later interim period through the date hereof.
  
               (b) The decision to change accountants from BPM to Bedinger &
           Company has been approved by the Company's Board of Directors.
  
               (c) During the registrant's two most recent fiscal years and the
           subsequent interim period through the date hereof, there were no
           disagreements with BPM on any matter of accounting principles or
           practices, financial statement disclosure, or auditing scope or
           procedure. The registrant has authorized BPM to respond fully to the
           inquiries of the successor accountant.
  
               (d) Other than as set forth in paragraph (e) hereof, BPM expressed
           no disagreement or difference of opinion regarding any "reportable"
           event as that term is defined in Item 304(a)(1)(iv) of Regulation S-K,
           including but not limited to:
  
                        (i) BPM has not advised the registrant that the internal
                    controls necessary for the registrant to develop reliable
                    financial statements do not exist;
  
                        (ii) BPM has not advised the registrant that information
                    has come to BPM's attention that has led it to no longer be
                    able to rely on management's representations, or that has made
                    it unwilling to be associated with the financial statements
                    prepared by management;
  
                        (iii) BPM has not advised the registrant of the need to
                    expand significantly the scope of its audit, or notified the
                    registrant that information has come to BPM's attention that
                    BPM has concluded will or that if further investigated may (A)
                    materially impact the fairness or reliability of either: a
                    previously issued audit report or the underlying financial
                    statements, or the financial statements issued or to be issued
                    covering the fiscal period(s) subsequent to the date of the
                    most recent financial statements covered by an audit report
                    (including information that might preclude it from rendering
                    an unqualified audit report), or (B) cause it to be unwilling
                    to rely on management's representations or be associated with
                    the registrant's financial statements, and due to the BPM's
                    resignation (due to audit scope limitations or otherwise) or
                    dismissal, or for any other reason, BPM did not so expand the
                    scope of its audit or conduct such further investigation;
  
                        (iv) BPM has not advised the registrant that information
                    has come to BPM's attention that it has concluded materially
                    impacts the fairness or reliability of either (A) a previously
                    issued audit report or the underlying financial statements, or
                    (B) the financial statements issued or to be issued covering
                    the fiscal period(s) subsequent to the date of the most recent
                    financial statements covered by an audit report (including
                    information that, unless resolved to BPM's satisfaction, would
                    prevent it from rendering an unqualified audit report on those
                    financial statements), and due to BPM's replacement, or for
                    any other reason, the issue has not been resolved to BPM's
                    satisfaction prior to its resignation.
  
               (e) As disclosed in a Form 8-K filing dated February 23, 2006,
           pursuant to internal management review, the Company's management, audit
           committee, and BPM concluded that parts of the Company's accounting for
           the fair value of financial instruments pursuant to SFAS 133 and SAB
           105, which we adopted at the end of fiscal year 2004, was incorrect.
           There were two errors detected. First, there was an error in the
           underlying worksheets calculating the change in value of the Company's
           locked pipeline of mortgage loan commitments to borrowers. This error
           resulted in a reversal of the sign of the change in value the Locked
  Pipeline. Second, we did not properly account for the derivative value
           of the Best Efforts loan locks we secure with secondary market
           investors upon making loan commitments to borrowers.
  
               These matters affected the Company's Annual Report on Form 10-KSB
           for the years ended April 30, 2004 and 2005 and the Company's Quarterly
           Reports on Form 10-QSB for the quarters ended July 31, October 31, 2004
           and 2005 and the Company's Quarterly Report on Form 10-QSB for the
           quarter ended January 31, 2005. These financial statements that are
           affected by these matters have now been amended and filed.
  
               (f) The Company has not consulted with Bedinger & Company regarding
           the application of accounting principles to a specific completed or
           contemplated transaction, or the type of audit opinion that might be
           rendered on the Company's financial statements and has not received
           either written or oral advice that was a factor considered by the
           Company in reaching a decision as to any accounting, auditing or
           financial reporting issue or any matter that is discussed herein.
  
               (g) The registrant has provided BPM with a copy of the disclosures
           it is making in response to Item 304(a) of Regulation S-K. The
           registrant has requested that BPM furnish the registrant with a letter
           addressed to the Commission stating whether it agrees with the
           statements made by the registrant, a copy of which is provided herewith
           as Exhibit 16.
  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, thereby duly
  authorized.
  
      Date: April 18, 2006
                                         Transnational Financial Network, Inc.
  
                                         /s/ Joseph Kristul
                                         --------------------------------------
                                         Joseph Kristul, Chief Executive Officer