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<p align="center"><font face="Times New Roman" size="5"><b>UNITED STATES<br>SECURITIES
 AND EXCHANGE COMMISSION</font><br><font face="Times New Roman" size="3">WASHINGTON, DC 20549</font></p>
<div><hr noshade size="1" color="#000000" width="12%"></div>
<div align="center"><font face="Times New Roman" size="5">FORM 8-K</b></font></div>

<p align="center"><font face="Times New Roman" size="4"><b>CURRENT REPORT</b></font></p>
<p align="center"><font face="Times New Roman" size="2"><b>Pursuant to Section 13
 or 15(d) of the Securities Exchange Act of 1934</b></font></p>
<p align="center"><font face="Times New Roman" size="2">Date of Report (Date of earliest
 event reported): March 28, 2008</font></p>
<p align="center"><font face="Times New Roman" size="6"><b>PARADISE MUSIC &#038;
 ENTERTAINMENT, INC.<br></b></font><font face="Times New Roman" size="1">(Exact Name of Registrant as Specified in Charter)</font>
</p>
<table border="0" cellpadding="0" cellspacing="0" width="100%">
<tr>
<td valign="bottom" align="center"><font face="Times New Roman" size="2"><b>Delaware</b></font></td>
<td valign="bottom" align="center"><font face="Times New Roman" size="2"><b>001-12635</b></font></td>
<td valign="bottom" align="center"><font face="Times New Roman" size="2"><b>13-3906452</b></font></td>
</tr>
<tr>
<td nowrap valign="bottom" align="center"><font face="Times New Roman" size="1">(State or
 Other Jurisdiction of Incorporation)</font></td>
<td valign="bottom" align="center"><font face="Times New Roman" size="1">(Commission
 File Number)</font></td>
<td nowrap width="7%" valign="bottom" align="center"><font face="Times New Roman" size="1">(IRS Employer
 Identification No.)</font></td>
</tr>
<tr>
<td><font face="Times New Roman" size="2">&#160;</font></td>
<td><font face="Times New Roman" size="2">&#160;</font></td>
<td><font face="Times New Roman" size="2">&#160;</font></td>
</tr>
<tr>
<td width="15%" nowrap valign="bottom" align="center"><font face="Times New Roman" size="2"><b>2637
 East Atlantic Boulevard, #133, Pompano Beach, Florida</b></font></td>
<td><font face="Times New Roman" size="2">&#160;</font></td>
<td valign="bottom" align="center"><font face="Times New Roman" size="2"><b>33062</b></font></td>
</tr>
<tr>
<td valign="bottom" align="center"><font face="Times New Roman" size="1">(Address
 of Principal Executive Offices)</font></td>
<td><font face="Times New Roman" size="2">&#160;</font></td>
<td valign="bottom" align="center"><font face="Times New Roman" size="1">(Zip Code)
</font></td>
</tr>
<tr>
<td><font face="Times New Roman" size="2">&#160;</font></td>
<td><font face="Times New Roman" size="2">&#160;</font></td>
<td><font face="Times New Roman" size="2">&#160;</font></td>
</tr>
<tr>
<td valign="bottom" align="left"><font face="Times New Roman" size="2">Registrant&#146;s telephone number, including area code</font></td>
<td><font face="Times New Roman" size="2">&#160;</font></td>
<td width="10%" valign="bottom" align="center"><font face="Times New Roman" size="2"><b>888-565-3259</b></font></td>
</tr>
</table>
<p align="center"><font face="Times New Roman" size="2">Former Name or Former Address,
 if Changed Since Last Report</font></p>
<p><font face="Times New Roman" size="2">Check the appropriate box below if the Form
 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
 under the following provisions:</font></p>
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<td width="1%" valign="bottom" align="left"><font face="wingdings" size="2">o</font></td>
<td width="1%"><font face="Times New Roman" size="2">&#160;</font></td>
<td valign="bottom" align="left"><font face="Times New Roman" size="2">Written communications
 pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font></td>
</tr>
<tr>
<td width="1%" valign="bottom" align="left"><font face="wingdings" size="2">o</font></td>
<td width="1%"><font face="Times New Roman" size="2">&#160;</font></td>
<td valign="bottom" align="left"><font face="Times New Roman" size="2">Soliciting
 material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</font>
</td>
</tr>
<tr>
<td width="1%" valign="bottom" align="left"><font face="wingdings" size="2">o</font></td>
<td width="1%"><font face="Times New Roman" size="2">&#160;</font></td>
<td valign="bottom" align="left"><font face="Times New Roman" size="2">Pre-commencement
 communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
</font></td>
</tr>
<tr>
<td width="1%" valign="bottom" align="left"><font face="wingdings" size="2">o</font></td>
<td width="1%"><font face="Times New Roman" size="2">&#160;</font></td>
<td valign="bottom" align="left"><font face="Times New Roman" size="2">Pre-commencement
 communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
</font></td>
</tr>
</table>
<br>
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<p><font face="Times New Roman" size="2"><b>Item 1.01&#160;&#160;&#160;&#160;Entry into a Material Definitive
 Agreement.<br><br>Item 2.03.&#160;&#160;&#160;&#160;Unregistered Sales of Equity Securities.</b></font>
</p>
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<tr>
<td width="4%" valign="bottom"><font face="Times New Roman" size="2">&#160;</font></td>
<td valign="bottom" align="left" colspan="3"><font face="Times New Roman" size="2"><u>FINANCIAL
 ADVISORY AGREEMENT</u></font></td>
</tr>
</table>
<p><font face="Times New Roman" size="2">On March 28, 2008, Paradise Music &#038;
 Entertainment, Inc. (&#147;we,&#148; &#147;Paradise&#148; or the &#147;Company&#148;) entered into a Financial
 Advisory Agreement engaging Carlton Capital, Inc. (&#147;CCI&#148;) to consult with and advise
 the Company on a number of financial and corporate matters. Under this agreement
 the company may request CCI to provide recommendations concerning corporate finance
 matters including such matters as: (i) Changes in the capitalization of the Company;
 (ii) Changes in the Company&#146;s corporate structure; (iii) Redistribution of
 shareholdings of the Company&#146;s stock; (iv) Offerings of securities in public
 and private transactions; (v) Alternative uses of corporate assets; (vi) Structure
 and use of debt; (vii) Sales of stock by insiders pursuant to Rule 144 or otherwise;
 (viii) Counsel management with respect to listing on a National Exchange; (ix) Strategic
 planning for the company; (x) the acquisition of and/or merger with other companies,
 the sale of the Company itself, or any of its assets, subsidiaries or affiliates,
 or similar type of transaction (hereinafter referred to as a &#147;Transaction&#148;),
 and (xi) financings from financial institutions, including but not limited to lines
 of credit, performance bonds, letters of credit, loans or other financings (hereinafter
 referred to as a &#147;institutional financing&#148;).</font></p>
<p><font face="Times New Roman" size="2"><u><b>Compensation:</b></u> In consideration
 for the consulting services rendered by CCI to the Company pursuant to this Agreement
 (and in addition to the expenses provided for in Paragraph 5 hereof) the Company
 agrees to pay CCI Compensation of Ten Thousand of the Company&#146;s Series C Preferred
 Stock issued in their name. Other fees and expenses may be incurred by the Company
 in the event that CCI provides such services.</font></p>
<p><font face="Times New Roman" size="2"><b>Item 3.01&#160;&#160;&#160;&#160;Financial Statements and Exhibits.</b></font></p>
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<td width="4%" valign="bottom"><font face="Times New Roman" size="2">&#160;</font></td>
<td valign="bottom" align="left" colspan="3"><font face="Times New Roman" size="2">(d) Exhibits.</font></td>
</tr>
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<td><font face="Times New Roman" size="2">&#160;</font></td>
<td><font face="Times New Roman" size="2">&#160;</font></td>
<td><font face="Times New Roman" size="2">&#160;</font></td>
<td><font face="Times New Roman" size="2">&#160;</font></td>
</tr>
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<td align="left"><font face="Times New Roman" size="2">&#160;</font></td>
<td valign="bottom" align="left"><font face="Times New Roman" size="2">Exhibit</font></td>
<td><font face="Times New Roman" size="2">&#160;</font></td>
<td><font face="Times New Roman" size="2">&#160;</font></td>
</tr>
<tr>
<td align="left"><font face="Times New Roman" size="2">&#160;</font></td>
<td width="4%" nowrap valign="bottom" align="left"><font face="Times New Roman" size="2">Number</font>
</td>
<td width="3%"><font face="Times New Roman" size="2">&#160;</font></td>
<td valign="bottom" align="center"><font face="Times New Roman" size="2">Description
</font></td>
</tr>
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<td align="left"><font face="Times New Roman" size="2">&#160;</font></td>
<td valign="bottom"><hr size="1" color="#000000" noshade></td>
<td><font face="Times New Roman" size="2">&#160;</font></td>
<td valign="bottom"><hr size="1" color="#000000" noshade></td>
</tr>
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<td align="left"><font face="Times New Roman" size="2">&#160;</font></td>
<td valign="top" align="center"><font face="Times New Roman" size="2">&#160;&#160;3.8</font>
</td>
<td><font face="Times New Roman" size="2">&#160;</font></td>
<td valign="bottom" align="left"><font face="Times New Roman" size="2">Form of Financial
 Advisory Agreement signed by Paradise Music &#038; Entertainment, Inc. with Carlton
 Capital, Inc., dated March 28, 2008.</font></td>
</tr>
<tr>
<td align="left"><font face="Times New Roman" size="2">&#160;</font></td>
<td valign="bottom" align="center"><font face="Times New Roman" size="2">99.1</font>
</td>
<td><font face="Times New Roman" size="2">&#160;</font></td>
<td valign="bottom" align="left"><font face="Times New Roman" size="2">Press release
 dated April 2, 2008.</font></td>
</tr>
</table>
<p align="center"><font face="Times New Roman" size="2">1</font></p>
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<div align="center"><font face="Times New Roman" size="2">SIGNATURES</font></div>
<p><font face="Times New Roman" size="2">Pursuant to the requirements of the Securities
 and Exchange Act of 1934, the Registrant has duly caused this Current Report to
 be signed on its behalf by the undersigned hereto duly authorized.</font></p>
<table border="0" cellpadding="0" cellspacing="0" width="100%">
<tr><td valign="bottom"><font face="Times New Roman" size="2">&#160;
</font></td>
<td width="10%"><font face="Times New Roman" size="2">&#160;</font></td>
<td width="20%" nowrap valign="bottom" align="left"><font face="Times New Roman" size="2"><b>PARADISE
 MUSIC &#038; ENTERTAINMENT, INC.</b></font></td>
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<tr>
<td align="left"><font face="Times New Roman" size="2">&#160;</font></td>
<td align="left"><font face="Times New Roman" size="2">&#160;</font></td>
<td><font face="Times New Roman" size="2">&#160;</font></td>
</tr>
<tr>
<td valign="bottom" align="left"><font face="Times New Roman" size="2">Date: April
 2, 2008 </font></td>
<td><font face="Times New Roman" size="2">&#160;</font></td>
<td valign="bottom" align="left"><font face="Times New Roman" size="2">By: <u>/s/ Richard P. Rifenburgh</u></font></td>
</tr>
<tr>
<td align="left"><font face="Times New Roman" size="2">&#160;</font></td>
<td align="left"><font face="Times New Roman" size="2">&#160;</font></td>
<td valign="bottom" align="left"><font face="Times New Roman" size="2">Name: Richard
 P. Rifenburgh</font></td>
</tr>
<tr>
<td align="left"><font face="Times New Roman" size="2">&#160;</font></td>
<td align="left"><font face="Times New Roman" size="2">&#160;</font></td>
<td valign="bottom" align="left"><font face="Times New Roman" size="2">Chairman and
 President</font></td>
</tr>
</table>
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<p align="center"><font face="Times New Roman" size="2">EXHIBIT INDEX</font></p>
<table border="0" cellpadding="0" cellspacing="0" width="100%">
<tr>
<td valign="bottom" align="left"><font face="Times New Roman" size="2">Exhibit</font>
</td>
<td><font face="Times New Roman" size="2">&#160;</font></td>
<td><font face="Times New Roman" size="2">&#160;</font></td>
</tr>
<tr>
<td width="5%" nowrap valign="bottom" align="left"><font face="Times New Roman" size="2">Number</font>
</td>
<td width="3%"><font face="Times New Roman" size="2">&#160;</font></td>
<td valign="bottom" align="center"><font face="Times New Roman" size="2">Description
</font></td>
</tr>
<tr>
<td valign="bottom"><hr size="1" color="#000000" noshade></td>
<td><font face="Times New Roman" size="2">&#160;</font></td>
<td valign="bottom"><hr size="1" color="#000000" noshade></td>
</tr>
<tr>
<td valign="top" align="center"><font face="Times New Roman" size="2">&#160;&#160;3.8</font>
</td>
<td><font face="Times New Roman" size="2">&#160;</font></td>
<td valign="bottom" align="left"><font face="Times New Roman" size="2">Form of Financial
 Advisory Agreement signed by Paradise Music &#038; Entertainment, Inc. with Carlton
 Capital, Inc., dated March 28, 2008.</font></td>
</tr>
<tr>
<td valign="bottom" align="center"><font face="Times New Roman" size="2">99.1</font></td>
<td><font face="Times New Roman" size="2">&#160;</font></td>
<td valign="bottom" align="left"><font face="Times New Roman" size="2"> Press release
 dated April 2, 2008</font></td>
</tr>
</table>
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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): March 28, 2008
PARADISE MUSIC &
 ENTERTAINMENT, INC.
(Exact Name of Registrant as Specified in Charter)
Delaware
001-12635
13-3906452
(State or
 Other Jurisdiction of Incorporation)
(Commission
 File Number)
(IRS Employer
 Identification No.)
2637
 East Atlantic Boulevard, #133, Pompano Beach, Florida
33062
(Address
 of Principal Executive Offices)
(Zip Code)
Registrant's telephone number, including area code
888-565-3259
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 the following provisions:
o
Written communications
 pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o
Soliciting
 material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement
 communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o
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 2.03.    Unregistered Sales of Equity Securities.
FINANCIAL
 ADVISORY AGREEMENT
On March 28, 2008, Paradise Music &
 Entertainment, Inc. ("we," "Paradise" or the "Company") entered into a Financial
 Advisory Agreement engaging Carlton Capital, Inc. ("CCI") to consult with and advise
 the Company on a number of financial and corporate matters. Under this agreement
 the company may request CCI to provide recommendations concerning corporate finance
 matters including such matters as: (i) Changes in the capitalization of the Company;
 (ii) Changes in the Company's corporate structure; (iii) Redistribution of
 shareholdings of the Company's stock; (iv) Offerings of securities in public
 and private transactions; (v) Alternative uses of corporate assets; (vi) Structure
 and use of debt; (vii) Sales of stock by insiders pursuant to Rule 144 or otherwise;
 (viii) Counsel management with respect to listing on a National Exchange; (ix) Strategic
 planning for the company; (x) the acquisition of and/or merger with other companies,
 the sale of the Company itself, or any of its assets, subsidiaries or affiliates,
 or similar type of transaction (hereinafter referred to as a "Transaction"),
 and (xi) financings from financial institutions, including but not limited to lines
 of credit, performance bonds, letters of credit, loans or other financings (hereinafter
 referred to as a "institutional financing").
Compensation:
In consideration
 for the consulting services rendered by CCI to the Company pursuant to this Agreement
 (and in addition to the expenses provided for in Paragraph 5 hereof) the Company
 agrees to pay CCI Compensation of Ten Thousand of the Company's Series C Preferred
 Stock issued in their name. Other fees and expenses may be incurred by the Company
 in the event that CCI provides such services.
Item 3.01    Financial Statements and Exhibits.
(d) Exhibits.
Exhibit
Number
Description
3.8
Form of Financial
 Advisory Agreement signed by Paradise Music & Entertainment, Inc. with Carlton
 Capital, Inc., dated March 28, 2008.
99.1
Press release
 dated April 2, 2008.
1
SIGNATURES
Pursuant to the requirements of the Securities
 and Exchange Act of 1934, the Registrant has duly caused this Current Report to
 be signed on its behalf by the undersigned hereto duly authorized.
PARADISE
 MUSIC & ENTERTAINMENT, INC.
Date: April
 2, 2008
By:
/s/ Richard P. Rifenburgh
Name: Richard
 P. Rifenburgh
Chairman and
 President
EXHIBIT INDEX
Exhibit
Number
Description
3.8
Form of Financial
 Advisory Agreement signed by Paradise Music & Entertainment, Inc. with Carlton
 Capital, Inc., dated March 28, 2008.
99.1
Press release
 dated April 2, 2008