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)
                                FEBRUARY 15, 2005

                        RAPTOR NETWORKS TECHNOLOGY, INC.
                        --------------------------------
             (Exact name of registrant as specified in its charter)

           Colorado                    333-74846                84-1573852
           --------                    ---------                ----------
       (State or other          (Commission File Number)      (IRS Employer
jurisdiction of incorporation)                            Identification Number)

                          1241 E. Dyer Road, Suite 150
                               Santa Ana, CA 92705
                               -------------------
                    (Address of Principal Executive Offices)

                                 (949) 623-9300
                                 --------------
              (Registrant's Telephone Number, Including Area Code)

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 1.01     Entry Into A Material Definitive Agreement
--------------------------------------------------------

     On February 15, 2005, Raptor Networks Technology,  Inc. (referred to herein
as the "Company,"  "Registrant"  or "Raptor")  secured  additional  private debt
financing by various private-party  non-affiliate  individuals,  in the original
principal  amount of One Hundred Forty Thousand  Dollars  ($140,000) to fund its
continuing  operations.  The  net  proceeds  to  the  Company  are  One  Hundred
Twenty-Six  Thousand  Dollars  ($126,000),  after the payment of a 10% placement
fee.  The new debt is  evidenced  by several  Convertible  Bridge  Notes,  dated
February  15,  2005,  payable on demand  after  August 31,  2005,  which  accrue
interest  at the annual  rate of ten percent  (10%) and  comprise  an  unsecured
obligation of the Registrant.  The Company is required to issue to the lenders a
total of 84,000 Warrants for purchase of shares of its authorized but previously
unissued  Common Stock as further  consideration  in the loan  transaction.  The
entire  principal  and  accrued  interest  of the  loan  is  convertible  by the
Registrant  into shares issued in a future equity or equity based financing with
gross proceeds of at least $4,000,000, if and when undertaken by the Registrant,
at a twenty  percent (20%)  discount from the purchase  price set in such future
offering, if any.


Item 2.03     Creation Of A Direct  Financial  Obligation Or An Obligation Under
--------------------------------------------------------------------------------
An Off-Balance Sheet Arrangement Of A Registrant
------------------------------------------------

     As stated above in Item 1.01,  on February 15,  2005,  the Company  secured
additional  private debt financing in the principle  amount of One Hundred Forty
Thousand Dollars  ($140,000) to fund its continuing  operations.  The details of
this debt  financing are described in Item 1.01,  which is  incorporated  in its
entirety by this reference into this Item 2.03.


Item 8.01     Other Events
--------------------------

Settlement of Litigation
------------------------

     On February  15, 2005,  Raptor  entered  into a  Settlement  Agreement  and
Release of Claims with respect to litigation between the Company, Edwin Hoffman,
the  Company's  Chief  Development  Officer  ("Hoffman"),   Ananda  Perera,  the
Company's  Chief  Technical  Officer  ("Perera")  and  Lyle  Pearson,  a  former
executive officer of the Company ("Pearson"), and Kevin Kelly ("Kelly"), Patrick
Hemstreet  ("Hemstreet"),  and David Weiner  ("Weiner")  (Kelly,  Hemstreet  and
Weiner collectively referred to as "Plaintiffs")  regarding Plaintiffs' wrongful
termination and related claims.

     The following are the key elements of the settlement agreement:

1.   Release of Claims.  The  Plaintiffs  shall  release the  Company,  Hoffman,
     -----------------
Perera, Pearson, and all other shareholders,  officers,  directors and employees
of the Company from any and all known or unknown claims or actions.

2.   Cash. The Company shall pay  Plaintiffs  the sum of Forty Thousand  Dollars
     ----
($40,000).

3.   Stock. The Company shall issue to Plaintiffs and Plaintiff's  attorneys the
     -----
sum of Two Hundred  Sixty-Two  Thousand  Five  Hundred  (262,500)  shares of the
Company's Common Stock.

     As a result of the settlement  described  above,  all active  litigation to
which the Company was a party is now settled.  However,  the Company is still in
discussions with The Private Financing Group, Inc.,  regarding the resolution of
a sixteen month old contract dispute.






                                       -2-
<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.


Date: February 21, 2005                 RAPTOR NETWORKS TECHNOLOGY, INC.
                                        --------------------------------



                                        By:  /s/ Bob van Leyen
                                             -----------------------------------
                                             Bob van Leyen
                                             Secretary/Chief Financial Officer





































                                       -3-
[{"type": "8-K", "sequence": "1", "filename": "raptor8k021505.txt", "secsgml_size_bytes": 6639}]
{"company-data": {"conformed-name": "RAPTOR NETWORKS TECHNOLOGY INC", "cik": "0001163300", "assigned-sic": "7380", "irs-number": "841573852", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "333-74846", "film-number": "05631756"}, "business-address": {"street1": "1241 E. DYER ROAD", "street2": "SUITE 150", "city": "SANTA ANA", "state": "CA", "zip": "92705", "phone": "(949) 623-9300"}, "mail-address": {"street1": "1241 E. DYER ROAD", "street2": "SUITE 150", "city": "SANTA ANA", "state": "CA", "zip": "92705"}, "former-company": [{"former-conformed-name": "RAPTOR NETWORKS TECHNOLOGY  INC", "date-changed": "20031211"}, {"former-conformed-name": "PACIFIC INTERMEDIA INC", "date-changed": "20011205"}]}
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)
                                FEBRUARY 15, 2005

                        RAPTOR NETWORKS TECHNOLOGY, INC.
                        --------------------------------
             (Exact name of registrant as specified in its charter)

           Colorado                    333-74846                84-1573852
           --------                    ---------                ----------
       (State or other          (Commission File Number)      (IRS Employer
jurisdiction of incorporation)                            Identification Number)

                          1241 E. Dyer Road, Suite 150
                               Santa Ana, CA 92705
                               -------------------
                    (Address of Principal Executive Offices)

                                 (949) 623-9300
                                 --------------
              (Registrant's Telephone Number, Including Area Code)

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 1.01     Entry Into A Material Definitive Agreement
--------------------------------------------------------

     On February 15, 2005, Raptor Networks Technology,  Inc. (referred to herein
as the "Company,"  "Registrant"  or "Raptor")  secured  additional  private debt
financing by various private-party  non-affiliate  individuals,  in the original
principal  amount of One Hundred Forty Thousand  Dollars  ($140,000) to fund its
continuing  operations.  The  net  proceeds  to  the  Company  are  One  Hundred
Twenty-Six  Thousand  Dollars  ($126,000),  after the payment of a 10% placement
fee.  The new debt is  evidenced  by several  Convertible  Bridge  Notes,  dated
February  15,  2005,  payable on demand  after  August 31,  2005,  which  accrue
interest  at the annual  rate of ten percent  (10%) and  comprise  an  unsecured
obligation of the Registrant.  The Company is required to issue to the lenders a
total of 84,000 Warrants for purchase of shares of its authorized but previously
unissued  Common Stock as further  consideration  in the loan  transaction.  The
entire  principal  and  accrued  interest  of the  loan  is  convertible  by the
Registrant  into shares issued in a future equity or equity based financing with
gross proceeds of at least $4,000,000, if and when undertaken by the Registrant,
at a twenty  percent (20%)  discount from the purchase  price set in such future
offering, if any.

Item 2.03     Creation Of A Direct  Financial  Obligation Or An Obligation Under
--------------------------------------------------------------------------------
An Off-Balance Sheet Arrangement Of A Registrant
------------------------------------------------

     As stated above in Item 1.01,  on February 15,  2005,  the Company  secured
additional  private debt financing in the principle  amount of One Hundred Forty
Thousand Dollars  ($140,000) to fund its continuing  operations.  The details of
this debt  financing are described in Item 1.01,  which is  incorporated  in its
entirety by this reference into this Item 2.03.

Item 8.01     Other Events
--------------------------

Settlement of Litigation
------------------------

     On February  15, 2005,  Raptor  entered  into a  Settlement  Agreement  and
Release of Claims with respect to litigation between the Company, Edwin Hoffman,
the  Company's  Chief  Development  Officer  ("Hoffman"),   Ananda  Perera,  the
Company's  Chief  Technical  Officer  ("Perera")  and  Lyle  Pearson,  a  former
executive officer of the Company ("Pearson"), and Kevin Kelly ("Kelly"), Patrick
Hemstreet  ("Hemstreet"),  and David Weiner  ("Weiner")  (Kelly,  Hemstreet  and
Weiner collectively referred to as "Plaintiffs")  regarding Plaintiffs' wrongful
termination and related claims.

     The following are the key elements of the settlement agreement:

1.   Release of Claims.  The  Plaintiffs  shall  release the  Company,  Hoffman,
     -----------------
Perera, Pearson, and all other shareholders,  officers,  directors and employees
of the Company from any and all known or unknown claims or actions.

2.   Cash. The Company shall pay  Plaintiffs  the sum of Forty Thousand  Dollars
     ----
($40,000).

3.   Stock. The Company shall issue to Plaintiffs and Plaintiff's  attorneys the
     -----
sum of Two Hundred  Sixty-Two  Thousand  Five  Hundred  (262,500)  shares of the
Company's Common Stock.

     As a result of the settlement  described  above,  all active  litigation to
which the Company was a party is now settled.  However,  the Company is still in
discussions with The Private Financing Group, Inc.,  regarding the resolution of
a sixteen month old contract dispute.

                                       -2-
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.

Date: February 21, 2005                 RAPTOR NETWORKS TECHNOLOGY, INC.
                                        --------------------------------

                                        By:  /s/ Bob van Leyen
                                             -----------------------------------
                                             Bob van Leyen
                                             Secretary/Chief Financial Officer

                                       -3-