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) June 15, 2005
                                                ----------------


                                Zanett, Inc.
-----------------------------------------------------------------------------
           (Exact name of registrant as specified in its charter)


Delaware                          0-27068                    56-4389547
-----------------------------------------------------------------------------
(State or other jurisdiction    (Commission               (IRS Employer
of incorporation)               File Number)             Identification No.)


635 Madison Avenue, 15th Floor, New York, NY                    10022
-----------------------------------------------------------------------------
(Address of Principal Executive Offices)                      (Zip Code)


Registrant's telephone number, including area code:         (646) 502-1800
                                                            -----------------

-----------------------------------------------------------------------------
        (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 (see General Instruction A.2. 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        (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>

Item 2.02   Results of Operations and Financial Condition.

      On June 15, 2005, Zanett, Inc. (the "Company") filed a Current Report
on Form 8-K attaching as an exhibit a press release, referencing a net loss
for the first quarter of 2005 of $799,245 versus a net loss of $538,030 for
Q1 2004.  The correct net loss for Q1 2004 should have been $323,564 as
stated in the Company's Quarterly Report on Form 10-QSB, as filed with the
Securities and Exchange Commission on May 23, 2005.

      The foregoing information, furnished under "Item 2.02 Results of
Operations and Financial Condition," shall not be deemed "filed" for purposes
of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed
incorporated by reference in any filing under the Securities Act of 1933,
except as shall be expressly set forth by specific reference in such a
filing.


<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 by the
undersigned hereunto duly authorized.


                                          ZANETT, INC.



Date:  June 16, 2005                    By: /s/ Jack M. Rapport
                                        Jack M. Rapport
                                        Chief Financial Officer
[{"type": "8-K", "sequence": "1", "filename": "r8k10qcorrection061605.txt", "secsgml_size_bytes": 3467}]
{"company-data": {"conformed-name": "ZANETT INC", "cik": "0001133872", "assigned-sic": "7389", "irs-number": "564389547", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-32315", "film-number": "05899833"}, "business-address": {"street1": "135 E 57TH STREET", "street2": "15TH FLOOR", "city": "NEW YORK", "state": "NY", "zip": "10022", "phone": "2127595700"}, "mail-address": {"street1": "135 E 57TH ST 15TH FLOOR", "city": "NEW YORK", "state": "NY", "zip": "10022"}, "former-company": {"former-conformed-name": "PLANET ZANETT INC", "date-changed": "20010206"}}
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) June 15, 2005
                                                ----------------

                                Zanett, Inc.
-----------------------------------------------------------------------------
           (Exact name of registrant as specified in its charter)

Delaware                          0-27068                    56-4389547
-----------------------------------------------------------------------------
(State or other jurisdiction    (Commission               (IRS Employer
of incorporation)               File Number)             Identification No.)

635 Madison Avenue, 15th Floor, New York, NY                    10022
-----------------------------------------------------------------------------
(Address of Principal Executive Offices)                      (Zip Code)

Registrant's telephone number, including area code:         (646) 502-1800
                                                            -----------------

-----------------------------------------------------------------------------
        (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 (see General Instruction A.2. 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        (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))
Item 2.02   Results of Operations and Financial Condition.

      On June 15, 2005, Zanett, Inc. (the "Company") filed a Current Report
on Form 8-K attaching as an exhibit a press release, referencing a net loss
for the first quarter of 2005 of $799,245 versus a net loss of $538,030 for
Q1 2004.  The correct net loss for Q1 2004 should have been $323,564 as
stated in the Company's Quarterly Report on Form 10-QSB, as filed with the
Securities and Exchange Commission on May 23, 2005.

      The foregoing information, furnished under "Item 2.02 Results of
Operations and Financial Condition," shall not be deemed "filed" for purposes
of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed
incorporated by reference in any filing under the Securities Act of 1933,
except as shall be expressly set forth by specific reference in such a
filing.
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.

                                          ZANETT, INC.

Date:  June 16, 2005                    By: /s/ Jack M. Rapport
                                        Jack M. Rapport
                                        Chief Financial Officer