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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>FORM
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                Employer Identification No.)</em></font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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      SW 53rd Street, Suite 712, Ft. Lauderdale, Florida 33330</strong></font></div>
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      434-2000</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font></div>
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      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&#160;A.2. below):</font></div>
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                material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
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                communications pursuant to Rule 14d-2(b) under the Exchange Act (17
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                communications pursuant to Rule 13e-4(c) under the Exchange Act (17
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
      1.01 Entry into a Material Definitive Agreement</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Warrant
      Re-Pricing </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
      May
      22, 2006, Registrant entered into a Modification and Amendment Agreement with
      its principal lenders to modify certain provisions of the Convertible Notes
      issued in January and February 2006 in the aggregate principal amount of
      $8,318,284 (the &#8220;Notes&#8221;). Such changes, among other things, extend the first
      repayment date to August 15, 2006, amend the minimum price for payment of the
      outstanding Convertible Notes in shares of common stock from $1.00 to $0.80,
      amend the Fixed Conversion Price from $1.318 to $1.00, and permit the payment
      of
      liquidated damages of $166,366 for failing to have the resale registration
      statement declared effective by the required date to be made in shares of common
      stock at $1.00 per share. The investors agreed to exercise warrants to purchase
      3,569,792 shares of common stock for an amended warrant exercise price of $0.78,
      resulting in the receipt by the Company of approximately $2.8 million. The
      Company then agreed to issue warrants to purchase a like number of shares to
      the
      investors, entitling them purchase such shares for $0.80 per share for five
      years. The Modification and Amendment Agreement is attached as Exhibit
      10.4.</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Employment
      Agreements</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Agreement
      with Mr. Gary Post</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
      May&#160;19, 2006, VoIP, Inc. (the &#8220;Company&#8221;) entered into an employment
      agreement (the &#8220;Post Employment Agreement&#8221;) with Mr. Gary Post, the new
      President and Chief Executive Officer of the Company, to be effective as of
      May
      15, 2006. The Post Employment Agreement is for a term of three years (unless
      terminated earlier pursuant to its terms ). Mr.&#160;Post will receive a salary
      of $16,667 per month through December&#160;31, 2006, increasing to $18,000 per
      month on January&#160;1, 2007. Upon execution of the Post Employment Agreement,
      Mr. Post was issued 300,000 shares of restricted common stock, warrants to
      purchase 1,500,000 shares of the Company&#8217;s common stock at a purchase price of
      $1.00 per share, and non-qualified stock options to purchase 1,500,000 shares
      at
      $1.00 per share. Mr. Post will also be able to receive option grants on a yearly
      basis, as determined by the Board of Directors, with reference to the
      profitability of the Company and such other measures as the Board of Directors
      may agree. Mr. Post will be eligible to participate in the Company&#8217;s various
      benefit plans that are available to other executive officers of the Company.
      Mr.
      Post will be entitled to receive severance payments if his employment is
      terminated in certain circumstances. The Post Employment Agreement contains
      customary confidentiality and non-competition covenants. The above summary
      is
      qualified in its entirety by reference to the complete text of the Post
      Employment Agreement, a copy of which is filed as Exhibit 10.1 hereto.
</font></div>
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      </div>
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        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: ">2</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Agreement
      With Mr. Robert Staats</u></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
      May&#160;17, 2006, the Company entered into an employment agreement (the &#8220;Staats
      Employment Agreement&#8221;) with Mr. Robert V. Staats, the new Chief Accounting
      Officer of the Company. The Staats Employment Agreement is for a term of three
      years (unless terminated earlier pursuant to its terms). Mr.&#160;Staats will
      receive a salary of $11,666.67 per month through December 31, 2006, increasing
      to $12,916.67 per month on January 1, 2007. Upon execution of the Staats
      Employment Agreement, Mr. Staats was issued 100,000 shares of restricted common
      stock (in addition to options he currently holds to purchase 100,000 shares
      of
      common stock) and, for a period of six months, on a monthly basis, warrants
      to
      purchase 25,000 shares of the Company&#8217;s common stock at a purchase price equal
      to the closing price of the common stock at the end of each such month (for
      an
      aggregate of 150,000 shares). The shares underlying such warrants have
&#8220;piggy-back&#8221; registration rights, beginning on the first anniversary date of
      their issuance. Mr. Staats will also be able to receive option grants on a
      yearly basis, as determined by the Board of Directors, with reference to the
      profitability of the Company and such other measures as the Board of Directors
      may agree. Mr. Staats will be eligible to participate in the Company&#8217;s various
      benefit plans that are available to other executive officers of the Company.
      Mr.&#160;Staats will be entitled to receive severance payments if his employment
      is terminated in certain circumstances. The Staats Employment Agreement contains
      customary confidentiality and non-competition covenants. The above summary
      is
      qualified in its entirety by reference to the complete text of the Staats
      Employment Agreement, a copy of which is filed as Exhibit 10.2 hereto.
</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Employment
      with Mr. David Ahn</u></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
      May&#160;19, 2006, the Company entered into an employment agreement (the &#8220;Ahn
      Employment Agreement&#8221;) with Mr. David Ahn, the new Vice President - Corporate
      Planning of the Company, to be effective May&#160;15, 2006. The Ahn Employment
      Agreement is for a term of three years (unless terminated earlier pursuant
      to
      its terms). Mr.&#160;Ahn will receive a salary of $8,500 per month through
      December&#160;31, 2006, increasing to $10,000 per month on January&#160;1, 2007.
      Upon execution of the Ahn Employment Agreement, Mr. Ahn was issued warrants
      to
      purchase 500,000 shares of common stock and options to purchase 500,000 shares
      of the Company&#8217;s common stock at a purchase price equal to $1.00 per share. Mr.
      Ahn will also be able to receive option grants on a yearly basis, as determined
      by the Board of Directors, with reference to the profitability of the Company
      and such other measures as the Board of Directors may agree. Mr. Ahn will be
      eligible to participate in the Company&#8217;s various benefit plans that are
      available to other executive officers of the Company. Mr. Ahn will be entitled
      to receive severance payments if his employment is terminated in certain
      circumstances. The Ahn Employment Agreement contains customary confidentiality
      and non-competition covenants. The above summary is qualified in its entirety
      by
      reference to the complete text of the Ahn Employment Agreement, a copy of which
      is filed as Exhibit 10.3 hereto</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
      5.02 Departure of Directors or Principal Officers; Election of Directors;
      Appointment of Principal Officers</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
      May&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">19</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">,
      2006,
      the Company underwent a reorganization of its executive management. In
      connection therewith, Mr. B. Michael Adler resigned as Chief Executive Officer,
      Mr. Hal Bibee resigned as President, and Mr. Gary Post was appointed President
      and Chief Executive Officer and as a director to fill a vacancy (see Item 1.01,
      above). In addition, Mr. David Sasnett resigned as Chief Financial Officer,
      and
      Mr. Robert V. Staats was appointed as Chief Accounting Officer (see Item 1.01,
      above). Further, Mr. David Ahn was appointed the new Vice President - Corporate
      Planning (see Item 1.01 above). </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      Company intends to enter into a Consulting Services Agreement with Mr.
      Sasnett</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>&#160;</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">to
      provide part-time financial consulting services to the Company through August
      19, 2006. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">&#160;</div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: ">3</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">&#160;</div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Mr.&#160;Post</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">,
      age 57,
      became the Company&#8217;s President and CEO effective May 2006. He also serves as
      Chairman of the Board of the Company. Since 1999, Mr. Post has been a Managing
      Director and investment Principal of Ambient Advisors, LLC, a venture investment
      and management company. In his capacity as Managing Director at Ambient
      Advisors, Mr. Post has acted as an interim Chief Executive Officer and/or a
      Director for two private early to mid stage companies that Ambient had invested
      in, since April 2002 at OPMI Funding, Inc., a company that acquired in July
      2002
      the assets of Opticon Medical, Inc., a public medical device company. Since
      March 2006, he has also been a Director of Oxis International, inc., (OXIS:BB).
      Prior to Ambient, he served as First Vice President at Drexel Burnham Lambert,
      Vice President at Kidder Peabody, Managing Director as Houlihan, Lokey, Howard
      and Zukin and Director of Research and Consultant at McKinsey&#160;&amp;
Company. Mr. Post holds a MBA from the U.C.L.A. Graduate School of Management
      and an A.B. in Economics from Stanford University. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Mr.
      Staats</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">,
      age 52,
      has been the Director of Finance of the Company&#8217;s Caerus unit since June 2005.
      Mr. Staats brings nearly 30 years of financial management experience to the
      Company, including during the past six years, CFO and Controller
      responsibilities at three startup telecommunications companies (including the
      Company). From 1996 to 2000, Mr. Staats was the Director, Finance at the
      telecommunications company Electric Lightwave, Inc. Before that, at PacifiCorp
      (then a $3.4 billion company) he was Director of Financial Reporting and
      Accounting, responsible for consolidated financial statements and SEC reporting.
      Mr. Staats also has five years&#8217; experience with KPMG Peat Marwick. He graduated,
      with high honors, from the University of Washington with a bachelor&#8217;s degree in
      Accounting, and is a member of the Washington Society of Certified Public
      Accountants, and the American Society of Certified Public
      Accountants.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Mr.
      Ahn</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">,
      age 29,
      was Vice President of Finance for OccMeds Billing Services, Inc. from August
      2004 to April 2006 where he was responsible for creating internal budgets and
      financial models as well as managing internal and external financial controls.
      From 2001 to 2005, while working at Ambient Advisors, LLC, a venture investment
      and management company, Mr. Ahn was responsible for managing the financial
      planning and modeling for its client and portfolio companies. Mr. Ahn&#8217;s previous
      experience includes positions at various venture investment firms and investment
      banks, including FGII Partners, Merrill Lynch, and Wit Soundview. He graduated,
      with honors, from Harvard University with an AB degree in
      Economics.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Item
      7.01
      Regulation FD Disclosure</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
      May&#160;23, 2006, the Company issued a press release announcing the management
      reorganization discussed herein. Such press release is contained in Exhibit
      99.1
      hereto, which is being furnished, and shall not be deemed to be &#8220;filed&#8221;, with
      the SEC. Such exhibit shall not be incorporated by reference into any filing
      of
      the Company with the SEC, whether made before or after the date hereof,
      regardless of any general incorporation language in such filings. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">&#160;</div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: ">4</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">&#160;</div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Item
      8.01
      Other Events</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      disclosure set forth under Item 1.01 above is incorporated herein by
      reference.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
      9.01 Financial Statements and Exhibits</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(c)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Exhibits.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="line-height: 1.25;">
            <td style="width: 36pt;">&#160;</td>
            <td style="width: 36pt;">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">10.1</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Employment
                Agreement, effective May 15, 2006, between the Company and Mr. Gary
                Post</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="line-height: 1.25;">
            <td style="width: 36pt;">&#160;</td>
            <td style="width: 36pt;">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">10.2</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Employment
                Agreement, dated May 17, 2006, between the Company and Mr. Robert
                Staats</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="line-height: 1.25;">
            <td style="width: 36pt;">&#160;</td>
            <td style="width: 36pt;">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">10.3</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Employment
                Agreement, effective May 15, 2006, between the Company and Mr. David
                Ahn</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="line-height: 1.25;">
            <td style="width: 36pt;">&#160;</td>
            <td style="width: 36pt;">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">10.4</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Modification
                and Amendment Agreement</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="line-height: 1.25;">
            <td style="width: 36pt;">&#160;</td>
            <td style="width: 36pt;">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">99.1</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Press
                Release issued May 23, 2006</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SIGNATURES</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">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></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">
      <table align="center" bgcolor="#ffffff" border="0" cellpadding="0" cellspacing="0" width="100%">

          <tr valign="top" bgcolor="#ffffff">
            <td width="50%">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">&#160;</font></div>
              <div>&#160;</div>
            </td>
            <td width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">&#160;</font></td>
            <td width="49%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">&#160;</font></td>
          </tr>
          <tr valign="top" bgcolor="#ffffff">
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">Date:
              May 25, 2006<font id="TAB2" style="COLOR: black; LETTER-SPACING: 243pt" size="3">&#160;</font></font></td>
            <td colspan="2">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">VOIP,
                Inc.</font></div>
              <div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Registrant)</font></div>
              </div>
            </td>
          </tr>
          <tr valign="top" bgcolor="#ffffff">
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">&#160;<br>&#160;</font></td>
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">&#160;<br>&#160;</font></td>
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">&#160;<br>&#160;</font></td>
          </tr>
          <tr valign="top" bgcolor="#ffffff">
            <td>&#160;</td>
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">By:&#160;&#160;</font></td>
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">/s/
              Gary
              Post</font></td>
          </tr>
          <tr valign="top" bgcolor="#ffffff">
            <td colspan="2"><font style="FONT-FAMILY: " size="1">&#160;</font></td>
            <td align="left">
              <hr style="COLOR: black" align="left" noshade size="2" width="80%"><font size="2">Gary
              Post</font></td>
          </tr>
          <tr valign="top" bgcolor="#ffffff">
            <td colspan="2"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">&#160;</font></td>
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">Chief
              Executive Officer</font></td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">&#160;</div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: ">5</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">&#160;</div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>EXHIBIT
      INDEX</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="line-height: 1.25;">
            <td style="width: 36pt;">&#160;</td>
            <td style="width: 36pt;">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">10.1</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Employment
                Agreement, effective May 15, 2006, between the Company and Mr. Gary
                Post</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="line-height: 1.25;">
            <td style="width: 36pt;">&#160;</td>
            <td style="width: 36pt;">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">10.2</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Employment
                Agreement, dated May 19, 2006, between the Company and Mr. Robert
                Staats</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="line-height: 1.25;">
            <td style="width: 36pt;">&#160;</td>
            <td style="width: 36pt;">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">10.3</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Employment
                Agreement, effective May 15, 2006, between the Company and Mr. David
                Ahn</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="line-height: 1.25;">
            <td style="width: 36pt;">&#160;</td>
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                and Amendment Agreement</font></div>
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{"company-data": {"conformed-name": "VOIP  INC", "cik": "0001100954", "assigned-sic": "3661", "irs-number": "752785941", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-28985", "film-number": "06867349"}, "business-address": {"street1": "12330 SW 53RD STREET", "street2": "SUITE 712", "city": "FT. LAUDERDALE", "state": "FL", "zip": "33330", "phone": "954-434-2000"}, "mail-address": {"street1": "12330 SW 53RD STREET", "street2": "SUITE 712", "city": "FT. LAUDERDALE", "state": "FL", "zip": "33330"}, "former-company": {"former-conformed-name": "MILLENNIA TEA MASTERS INC", "date-changed": "19991213"}}
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): May 19, 2006
VoIP,
      Inc.
(Exact
      name of registrant as specified in its charter)
Texas
000-28985
75-2785941
(State
                of Incorporation)
(Commission
                File No.)
(IRS
                Employer Identification No.)
12330
      SW 53rd Street, Suite 712, Ft. Lauderdale, Florida 33330
(Address
      of principal execute offices, including zip code)
(954)
      434-2000
(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
Warrant
      Re-Pricing
On
      May
      22, 2006, Registrant entered into a Modification and Amendment Agreement with
      its principal lenders to modify certain provisions of the Convertible Notes
      issued in January and February 2006 in the aggregate principal amount of
      $8,318,284 (the "Notes"). Such changes, among other things, extend the first
      repayment date to August 15, 2006, amend the minimum price for payment of the
      outstanding Convertible Notes in shares of common stock from $1.00 to $0.80,
      amend the Fixed Conversion Price from $1.318 to $1.00, and permit the payment
      of
      liquidated damages of $166,366 for failing to have the resale registration
      statement declared effective by the required date to be made in shares of common
      stock at $1.00 per share. The investors agreed to exercise warrants to purchase
      3,569,792 shares of common stock for an amended warrant exercise price of $0.78,
      resulting in the receipt by the Company of approximately $2.8 million. The
      Company then agreed to issue warrants to purchase a like number of shares to
      the
      investors, entitling them purchase such shares for $0.80 per share for five
      years. The Modification and Amendment Agreement is attached as Exhibit
      10.4.
Employment
      Agreements
Agreement
      with Mr. Gary Post
On
      May 19, 2006, VoIP, Inc. (the "Company") entered into an employment
      agreement (the "Post Employment Agreement") with Mr. Gary Post, the new
      President and Chief Executive Officer of the Company, to be effective as of
      May
      15, 2006. The Post Employment Agreement is for a term of three years (unless
      terminated earlier pursuant to its terms ). Mr. Post will receive a salary
      of $16,667 per month through December 31, 2006, increasing to $18,000 per
      month on January 1, 2007. Upon execution of the Post Employment Agreement,
      Mr. Post was issued 300,000 shares of restricted common stock, warrants to
      purchase 1,500,000 shares of the Company's common stock at a purchase price of
      $1.00 per share, and non-qualified stock options to purchase 1,500,000 shares
      at
      $1.00 per share. Mr. Post will also be able to receive option grants on a yearly
      basis, as determined by the Board of Directors, with reference to the
      profitability of the Company and such other measures as the Board of Directors
      may agree. Mr. Post will be eligible to participate in the Company's various
      benefit plans that are available to other executive officers of the Company.
      Mr.
      Post will be entitled to receive severance payments if his employment is
      terminated in certain circumstances. The Post Employment Agreement contains
      customary confidentiality and non-competition covenants. The above summary
      is
      qualified in its entirety by reference to the complete text of the Post
      Employment Agreement, a copy of which is filed as Exhibit 10.1 hereto.
2
Agreement
      With Mr. Robert Staats
On
      May 17, 2006, the Company entered into an employment agreement (the "Staats
      Employment Agreement") with Mr. Robert V. Staats, the new Chief Accounting
      Officer of the Company. The Staats Employment Agreement is for a term of three
      years (unless terminated earlier pursuant to its terms). Mr. Staats will
      receive a salary of $11,666.67 per month through December 31, 2006, increasing
      to $12,916.67 per month on January 1, 2007. Upon execution of the Staats
      Employment Agreement, Mr. Staats was issued 100,000 shares of restricted common
      stock (in addition to options he currently holds to purchase 100,000 shares
      of
      common stock) and, for a period of six months, on a monthly basis, warrants
      to
      purchase 25,000 shares of the Company's common stock at a purchase price equal
      to the closing price of the common stock at the end of each such month (for
      an
      aggregate of 150,000 shares). The shares underlying such warrants have
"piggy-back" registration rights, beginning on the first anniversary date of
      their issuance. Mr. Staats will also be able to receive option grants on a
      yearly basis, as determined by the Board of Directors, with reference to the
      profitability of the Company and such other measures as the Board of Directors
      may agree. Mr. Staats will be eligible to participate in the Company's various
      benefit plans that are available to other executive officers of the Company.
      Mr. Staats will be entitled to receive severance payments if his employment
      is terminated in certain circumstances. The Staats Employment Agreement contains
      customary confidentiality and non-competition covenants. The above summary
      is
      qualified in its entirety by reference to the complete text of the Staats
      Employment Agreement, a copy of which is filed as Exhibit 10.2 hereto.
Employment
      with Mr. David Ahn
On
      May 19, 2006, the Company entered into an employment agreement (the "Ahn
      Employment Agreement") with Mr. David Ahn, the new Vice President - Corporate
      Planning of the Company, to be effective May 15, 2006. The Ahn Employment
      Agreement is for a term of three years (unless terminated earlier pursuant
      to
      its terms). Mr. Ahn will receive a salary of $8,500 per month through
      December 31, 2006, increasing to $10,000 per month on January 1, 2007.
      Upon execution of the Ahn Employment Agreement, Mr. Ahn was issued warrants
      to
      purchase 500,000 shares of common stock and options to purchase 500,000 shares
      of the Company's common stock at a purchase price equal to $1.00 per share. Mr.
      Ahn will also be able to receive option grants on a yearly basis, as determined
      by the Board of Directors, with reference to the profitability of the Company
      and such other measures as the Board of Directors may agree. Mr. Ahn will be
      eligible to participate in the Company's various benefit plans that are
      available to other executive officers of the Company. Mr. Ahn will be entitled
      to receive severance payments if his employment is terminated in certain
      circumstances. The Ahn Employment Agreement contains customary confidentiality
      and non-competition covenants. The above summary is qualified in its entirety
      by
      reference to the complete text of the Ahn Employment Agreement, a copy of which
      is filed as Exhibit 10.3 hereto
Item
      5.02 Departure of Directors or Principal Officers; Election of Directors;
      Appointment of Principal Officers
On
      May
19
,
      2006,
      the Company underwent a reorganization of its executive management. In
      connection therewith, Mr. B. Michael Adler resigned as Chief Executive Officer,
      Mr. Hal Bibee resigned as President, and Mr. Gary Post was appointed President
      and Chief Executive Officer and as a director to fill a vacancy (see Item 1.01,
      above). In addition, Mr. David Sasnett resigned as Chief Financial Officer,
      and
      Mr. Robert V. Staats was appointed as Chief Accounting Officer (see Item 1.01,
      above). Further, Mr. David Ahn was appointed the new Vice President - Corporate
      Planning (see Item 1.01 above).
The
      Company intends to enter into a Consulting Services Agreement with Mr.
      Sasnett
to
      provide part-time financial consulting services to the Company through August
      19, 2006.
3
Mr. Post
,
      age 57,
      became the Company's President and CEO effective May 2006. He also serves as
      Chairman of the Board of the Company. Since 1999, Mr. Post has been a Managing
      Director and investment Principal of Ambient Advisors, LLC, a venture investment
      and management company. In his capacity as Managing Director at Ambient
      Advisors, Mr. Post has acted as an interim Chief Executive Officer and/or a
      Director for two private early to mid stage companies that Ambient had invested
      in, since April 2002 at OPMI Funding, Inc., a company that acquired in July
      2002
      the assets of Opticon Medical, Inc., a public medical device company. Since
      March 2006, he has also been a Director of Oxis International, inc., (OXIS:BB).
      Prior to Ambient, he served as First Vice President at Drexel Burnham Lambert,
      Vice President at Kidder Peabody, Managing Director as Houlihan, Lokey, Howard
      and Zukin and Director of Research and Consultant at McKinsey &
Company. Mr. Post holds a MBA from the U.C.L.A. Graduate School of Management
      and an A.B. in Economics from Stanford University.
Mr.
      Staats
,
      age 52,
      has been the Director of Finance of the Company's Caerus unit since June 2005.
      Mr. Staats brings nearly 30 years of financial management experience to the
      Company, including during the past six years, CFO and Controller
      responsibilities at three startup telecommunications companies (including the
      Company). From 1996 to 2000, Mr. Staats was the Director, Finance at the
      telecommunications company Electric Lightwave, Inc. Before that, at PacifiCorp
      (then a $3.4 billion company) he was Director of Financial Reporting and
      Accounting, responsible for consolidated financial statements and SEC reporting.
      Mr. Staats also has five years' experience with KPMG Peat Marwick. He graduated,
      with high honors, from the University of Washington with a bachelor's degree in
      Accounting, and is a member of the Washington Society of Certified Public
      Accountants, and the American Society of Certified Public
      Accountants.
Mr.
      Ahn
,
      age 29,
      was Vice President of Finance for OccMeds Billing Services, Inc. from August
      2004 to April 2006 where he was responsible for creating internal budgets and
      financial models as well as managing internal and external financial controls.
      From 2001 to 2005, while working at Ambient Advisors, LLC, a venture investment
      and management company, Mr. Ahn was responsible for managing the financial
      planning and modeling for its client and portfolio companies. Mr. Ahn's previous
      experience includes positions at various venture investment firms and investment
      banks, including FGII Partners, Merrill Lynch, and Wit Soundview. He graduated,
      with honors, from Harvard University with an AB degree in
      Economics.
Item
      7.01
      Regulation FD Disclosure
On
      May 23, 2006, the Company issued a press release announcing the management
      reorganization discussed herein. Such press release is contained in Exhibit
      99.1
      hereto, which is being furnished, and shall not be deemed to be "filed", with
      the SEC. Such exhibit shall not be incorporated by reference into any filing
      of
      the Company with the SEC, whether made before or after the date hereof,
      regardless of any general incorporation language in such filings.
4
Item
      8.01
      Other Events
The
      disclosure set forth under Item 1.01 above is incorporated herein by
      reference.
Item
      9.01 Financial Statements and Exhibits
(c)
Exhibits.
10.1
Employment
                Agreement, effective May 15, 2006, between the Company and Mr. Gary
                Post
10.2
Employment
                Agreement, dated May 17, 2006, between the Company and Mr. Robert
                Staats
10.3
Employment
                Agreement, effective May 15, 2006, between the Company and Mr. David
                Ahn
10.4
Modification
                and Amendment Agreement
99.1
Press
                Release issued May 23, 2006
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:
              May 25, 2006
VOIP,
                Inc.
(Registrant)
By:
/s/
              Gary
              Post
Gary
              Post
Chief
              Executive Officer
5
EXHIBIT
      INDEX
10.1
Employment
                Agreement, effective May 15, 2006, between the Company and Mr. Gary
                Post
10.2
Employment
                Agreement, dated May 19, 2006, between the Company and Mr. Robert
                Staats
10.3
Employment
                Agreement, effective May 15, 2006, between the Company and Mr. David
                Ahn
10.4
Modification
                and Amendment Agreement
99.1
Press
                Release issued May 23, 2006
6