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Prepared and filed by St Ives Financial
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<p align="center"><font size="2" face="serif"><b>UNITED STATES</b></font><br>
<font size="2" face="serif"><b>SECURITIES AND EXCHANGE COMMISSION</b></font><br>
<font size="2" face="serif"><b>Washington, DC 20549</b></font></p>
<p align="center"><b><font face="serif" size="5">FORM 8-K</font></b></p>
<p align="center"><font size="2" face="serif"><b>CURRENT REPORT </b></font><br>
<font size="2" face="serif"><b>Pursuant to Section 13 or 15(d) of the</b></font><br>
<font size="2" face="serif"><b>Securities Exchange Act of 1934</b></font></p>
<p align="center"><font size="2" face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Date of report (Date of earliest event reported) <u> <b>   November 1, 2006</b></u></font></p>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td align="center" valign="bottom"><font size="2" face="serif"><b>Neutron Enterprises, Inc.</b></font></td>
  </tr>
  <tr>
    <td align="center" valign="middle"><hr size="1" noshade></td>
  </tr>
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    <td align="center" valign="bottom"><font size="2" face="serif">(Exact Name
    of Registrant as Specified in its Charter)</font></td>
  </tr>
</table>
<p>&nbsp;</p>
<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr align="center" valign="top">
    <td width="33%"><font size="2" face="serif"><b>Nevada</b></font></td>
    <td width="33%"><font size="2" face="serif"><b>005-80243</b></font></td>
    <td><font size="2" face="serif"><b>98-0338100</b></font></td>
  </tr>
  <tr align="center" valign="top">
    <td><hr size="1" noshade></td>
    <td><hr size="1" noshade></td>
    <td><hr size="1" noshade></td>
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  <tr align="center" valign="top">
    <td><font size="2" face="serif">&nbsp;(State or Other Jurisdiction<br>
    of Incorporation)    </font></td>
    <td><font size="2" face="serif">&nbsp;(Commission<br>
      &nbsp;File
Number)    </font></td>
    <td><font size="2" face="serif">&nbsp;(IRS Employer<br>
    &nbsp;Identification No.)    </font></td>
  </tr>
</table>
<p align="center"><font size="2" face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font size="2" face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
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    <td align="center" valign="bottom"><font size="2" face="serif"><b>450 Matheson
    Blvd. East, Unit 67<br>
    Mississauga, Ontario, Canada    </b></font></td>
    <td width="33%" align="center" valign="bottom"><font size="2" face="serif"><b>L4Z
    1R5</b></font></td>
  </tr>
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    <td align="center" valign="middle"><hr size="1" noshade></td>
    <td align="center" valign="middle"><hr size="1" noshade>
    </td>
  </tr>
  <tr>
    <td align="center" valign="bottom"><font size="2" face="serif">&nbsp;(Address
    of Principal Executive Offices)</font></td>
    <td align="center" valign="bottom"><font size="2" face="serif">&nbsp;(Zip
    Code)</font></td>
  </tr>
</table>
<p align="left"><font size="2" face="serif">Registrant&#8217;s telephone number, including area code <u> <b>(905) 238-0059</b></u></font></p>
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    <td>&nbsp;</td>
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    <td><font size="2" face="serif">(Former Name or Former Address, if Changed
    Since Last Report)</font></td>
  </tr>
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<p align="left"><font size="2" face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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 (<i>see </i>General Instruction A.2. below):</font></p>
<p align="left">
<font size="2" face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<img src="emptybox.gif" width="12" height="12">&nbsp;&nbsp;&nbsp;&nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font></p>
<p align="left"><font size="2" face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<img src="emptybox.gif" width="12" height="12">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></p>
<p align="left"><font size="2" face="serif">&nbsp;&nbsp;&nbsp; &nbsp;<img src="emptybox.gif" width="12" height="12">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pre-commencement
    communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></p>
<p align="left"><font size="2" face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<img src="emptybox.gif" width="12" height="12">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></p>
<p align="center">&nbsp;</p>
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<p>&nbsp;</p>
<p align="center"><font size="2" face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b>Section 1 &#150; Registrant&#8217;s Business and Operations</b></font></p>
<p align="left"><font size="2" face="serif"><b>Item 1.01&nbsp;Entry into a Material Definitive Agreement.</b></font></p>
<p align="left"><font size="2" face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The information provided in Item 3.02 regarding the issuance of common stock and warrants is hereby incorporated by reference.</font></p>
<p align="center"><font size="2" face="serif"><b>Section 3 &#150; Securities And Trading Markets </b></font></p>
<p align="left"><font size="2" face="serif"><b>Item 3.02 Unregistered Sales of
      Equity Securities.</b></font></p>
<p align="left"><font size="2" face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
    November 1, Neutron Enterprises, Inc. (the &#8220;Company&#8221;, &#8220;we&#8221; or &#8220;us&#8221;),
    pursuant to the Private Offering described below, sold 600,000 units at a
    price of $2.00 per unit for gross cash proceeds of $1,200,000, consisting
    of 600,000 shares of the Company&#146;s common stock, $0.001 par value per
    share, and a warrant to purchase an additional 300,000 shares of the Company&#146;s
    common stock,. Each unit consists of one (1) share of the Company&#8217;s
    common stock and a warrant to purchase one-half (1/2) share of the Company&#8217;s
    common stock at a purchase price of $2.50 per share. The foregoing securities
    were issued pursuant to an offering (the &#8220;Private Offering&#8221;)
    which is solely available to accredited investors, and under which up to
    $8,000,000 gross proceeds may be raised. A total of 4,000,000 units may be
    issued under the Private Offering, consisting of 4,000,000 shares of common
    stock, and warrants to purchase up to an aggregate of 2,000,000 shares of
    common stock. The warrants are immediately exercisable and have a term of
    2 years.</font></p>
<p align="left"><font size="2" face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Under the terms of the Private Offering, the exercise price and the number of shares issuable upon exercise of the warrant will be adjusted for stock splits, combinations, recapitalization and stock dividends.  In the event of a consolidation or merger in which the Company is not the surviving corporation, lawful provision shall be made so that upon exercise of the warrant the holder shall be entitled to receive the number of shares of stock or other securities or property of the successor entity that such holder would have been entitled to receive if the warrant had been exercised immediately prior to such transaction, and the surviving corporation shall assume the obligations and liabilities of the warrant, subject
to modifications as the board of directors in good faith deems appropriate.</font></p>
<p align="left"><font size="2" face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
    units were sold in a private placement transaction to a limited number of
    accredited investors residing outside of the United States, pursuant
    to the exemption from registration provided by Section 4(2) of the Securities
    Act. We incurred transaction based fees of $60,000 (equal to 5% of the purchase
    price of  the units) together with warrants to purchase 48,000 shares of
    common stock (equal
	to 8% of the number of units subscribed for) at an exercise price of $2.50
    per share. This  warrant is identical to the terms of the warrants issued
    to investors in the Private
	Offering, except that it contains a cashless exercise provision.</font></p>
<p align="left"><font size="2" face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
    descriptions of the subscription agreement and the warrants set forth above
    are qualified in their entirety by reference to copies of such agreements
    filed as exhibits to this report and incorporated herein by this reference.</font></p>
<p align="center">&nbsp;</p>
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<p>&nbsp;</p>
<p align="left"><font size="2" face="serif"><b>Item 9.01&nbsp;Financial Statements and Exhibits. </b></font></p>
<p align="left"><font size="2" face="serif">(d)  Exhibits.   The following exhibits are filed with this report:</font></p>
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<td width="10%" align="left"><font size="2" face="serif"><u>Exhibit No</u>.</font></td>
<td width="71%" align="left"><font size="2" face="serif"><u>Description of Exhibit</u></font></td>
</tr>
<tr valign="top">
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
</tr>
<tr valign="top" bgcolor="#ffffff">
<td align="left"><font size="2" face="serif">10.1</font></td>
<td align="left"><font size="2" face="serif">Form of Subscription Agreement by and between the Company and Purchasers of Units consisting of Common Stock and Warrants. </font></td>
</tr>
<tr valign="top">
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
</tr>
<tr valign="top" bgcolor="#FFFFFF">
<td align="left"><font size="2" face="serif">10.2</font></td>
<td align="left"><font size="2" face="serif">Form of Warrant issued to Purchasers of Units in the Unit Offering consisting of Common Stock and Warrants.</font></td>
</tr>
<tr valign="top">
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
<td align="left"><font size="2" face="serif">&nbsp;</font></td>
</tr>
<tr valign="top" bgcolor="#FFFFFF">
<td align="left"><font size="2" face="serif">10.3</font></td>
<td align="left"><font size="2" face="serif">Form of Warrant issued to Alliance Investment
    Management
Inc. in the Unit Offering consisting of Common Stock and Warrants.</font></td>
</tr>
</table>
<p>&nbsp;</p>
<p align="center"><font size="2">2</font></p>
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<p align="center"><font size="2" face="serif"><b>SIGNATURES</b></font></p>
<p align="left"><font size="2" face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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.</font></p>
<p align="left"><font size="2" face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>  <table width="100%" cellspacing="0" cellpadding="0" border="0">
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    <td>&nbsp;</td>
    <td width="5%">&nbsp;</td>
    <td><font size="2" face="serif">Neutron Enterprises, Inc.</font></td>
  </tr>
  <tr align="left" valign="bottom">
    <td>&nbsp;</td>
    <td width="5%">&nbsp;</td>
    <td>&nbsp;</td>
  </tr>
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  <td>&nbsp;</td>
  <td width="5%">&nbsp;</td>
  <td>&nbsp;</td>
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<td width="50%"><font size="2" face="serif">Date:  November 8, 2006</font></td>
<td width="5%"><font size="2" face="serif">By: <u> </u></font></td>
<td width="45%"><font size="2" face="serif"><u>/s/ Ciaran Griffin </u></font></td>
</tr>
<tr align="left" valign="bottom">
<td><font size="2" face="serif">&nbsp;</font></td>
<td width="5%">&nbsp;</td>
<td><font size="2" face="serif">       Ciaran Griffin</font></td>
</tr>
<tr align="left" valign="bottom">
<td><font size="2" face="serif">&nbsp;</font></td>
<td width="5%">&nbsp;</td>
<td><font size="2" face="serif">       Chief Financial Officer  </font></td>
</tr>
</table>
<p align="center">&nbsp;</p>
<p align="center"><font size="2">3</font></p>
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{"company-data": {"conformed-name": "NEUTRON ENTERPRISES INC", "cik": "0001135140", "assigned-sic": "7389", "irs-number": "000000000", "state-of-incorporation": "NV", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-52154", "film-number": "061198915"}, "business-address": {"street1": "450 MATHESON BOULEVARD, EAST", "street2": "UNIT 67", "city": "MISSISSAUGA", "state": "A6", "zip": "L4Z IR5", "phone": "9052381777"}, "mail-address": {"street1": "450 MATHESON BOULEVARD, EAST", "street2": "UNIT 67", "city": "MISSISSAUGA", "state": "A6", "zip": "L4Z IR5"}}
Prepared and filed by St Ives Financial
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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)
November 1, 2006
Neutron Enterprises, Inc.
(Exact Name
    of Registrant as Specified in its Charter)
Nevada
005-80243
98-0338100
(State or Other Jurisdiction
of Incorporation)
(Commission
File
Number)
(IRS Employer
Identification No.)
450 Matheson
    Blvd. East, Unit 67
Mississauga, Ontario, Canada
L4Z
    1R5
(Address
    of Principal Executive Offices)
(Zip
    Code)
Registrant's telephone number, including area code
(905) 238-0059
(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))
Section 1 – Registrant's Business and Operations
Item 1.01 Entry into a Material Definitive Agreement.
The information provided in Item 3.02 regarding the issuance of common stock and warrants is hereby incorporated by reference.
Section 3 – Securities And Trading Markets
Item 3.02 Unregistered Sales of
      Equity Securities.
On
    November 1, Neutron Enterprises, Inc. (the "Company", "we" or "us"),
    pursuant to the Private Offering described below, sold 600,000 units at a
    price of $2.00 per unit for gross cash proceeds of $1,200,000, consisting
    of 600,000 shares of the Company's common stock, $0.001 par value per
    share, and a warrant to purchase an additional 300,000 shares of the Company's
    common stock,. Each unit consists of one (1) share of the Company's
    common stock and a warrant to purchase one-half (1/2) share of the Company's
    common stock at a purchase price of $2.50 per share. The foregoing securities
    were issued pursuant to an offering (the "Private Offering")
    which is solely available to accredited investors, and under which up to
    $8,000,000 gross proceeds may be raised. A total of 4,000,000 units may be
    issued under the Private Offering, consisting of 4,000,000 shares of common
    stock, and warrants to purchase up to an aggregate of 2,000,000 shares of
    common stock. The warrants are immediately exercisable and have a term of
    2 years.
Under the terms of the Private Offering, the exercise price and the number of shares issuable upon exercise of the warrant will be adjusted for stock splits, combinations, recapitalization and stock dividends.  In the event of a consolidation or merger in which the Company is not the surviving corporation, lawful provision shall be made so that upon exercise of the warrant the holder shall be entitled to receive the number of shares of stock or other securities or property of the successor entity that such holder would have been entitled to receive if the warrant had been exercised immediately prior to such transaction, and the surviving corporation shall assume the obligations and liabilities of the warrant, subject
to modifications as the board of directors in good faith deems appropriate.
The
    units were sold in a private placement transaction to a limited number of
    accredited investors residing outside of the United States, pursuant
    to the exemption from registration provided by Section 4(2) of the Securities
    Act. We incurred transaction based fees of $60,000 (equal to 5% of the purchase
    price of  the units) together with warrants to purchase 48,000 shares of
    common stock (equal
	to 8% of the number of units subscribed for) at an exercise price of $2.50
    per share. This  warrant is identical to the terms of the warrants issued
    to investors in the Private
	Offering, except that it contains a cashless exercise provision.
The
    descriptions of the subscription agreement and the warrants set forth above
    are qualified in their entirety by reference to copies of such agreements
    filed as exhibits to this report and incorporated herein by this reference.
Item 9.01 Financial Statements and Exhibits.
(d)  Exhibits.   The following exhibits are filed with this report:
Exhibit No
.
Description of Exhibit
10.1
Form of Subscription Agreement by and between the Company and Purchasers of Units consisting of Common Stock and Warrants.
10.2
Form of Warrant issued to Purchasers of Units in the Unit Offering consisting of Common Stock and Warrants.
10.3
Form of Warrant issued to Alliance Investment
    Management
Inc. in the Unit Offering consisting of Common Stock and Warrants.
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.
Neutron Enterprises, Inc.
Date:  November 8, 2006
By:
/s/ Ciaran Griffin
Ciaran Griffin
Chief Financial Officer
3