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) April 26, 2006 (April 20, 2006)
                                                 -------------------------------

                       Innovative Card Technologies, Inc.
             (Exact name of registrant as specified in its charter)

           Delaware                  000-51260                 14-1861651
  ---------------------------   ----------------------        ------------
 (State or other jurisdiction  (Commission File Number)      (IRS Employer
      of incorporation)                                    Identification No.)

11601 Wilshire Boulevard, Suite 2160, Los Angeles CA             90025
----------------------------------------------------            --------
    (Address of principal executive offices)                   (Zip Code)


Registrant's telephone number, including area code: (310) 312-0700
                                                    --------------

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>

This Form 8-K and other reports filed by the Registrant from time to time with
the Securities and Exchange Commission (collectively the "Filings") contain
forward looking statements and information that are based upon beliefs of, and
information currently available to, the Registrant's management as well as
estimates and assumptions made by the Registrant's management. When used in the
Filings the words "anticipate", "believe", "estimate", "expect", "future",
"intend", "plan" or the negative of these terms and similar expressions as they
relate to the Registrant or the Registrant's management identify forward looking
statements. Such statements reflect the current view of the Registrant with
respect to future events and are subject to risks, uncertainties, assumptions
and other factors relating to the Registrant's industry, operations and results
of operations and any businesses that may be acquired by the Registrant. Should
one or more of these risks or uncertainties materialize, or should the
underlying assumptions prove incorrect, actual results may differ significantly
from those anticipated, believed, estimated, expected, intended or planned.

Item 8.01 - Other Events

On April 20, 2006, Innovative Card Technologies, Inc. (the "Company") signed a
term sheet whereby the Company would purchase rights relating to the Display
Card from nCryptone for 4,500,000 shares of the Company's common stock and
$1,000,000 USD to be paid within one year after the close of the acquisition.
Included in this proposed acquisition is all intellectual property relating to
the DisplayCard under the July 25, 2005 Joint Development Agreement with
nCryptone, all nCryptone intellectual property relating to the DisplayCard, and
assumption of certain accounts payable directly allocable to the DisplayCard, as
well as all tangible assets relating to the DisplayCard.

After the completion of the proposed acquisition, the Company will have all
rights, including 100% of all revenues, relating to the DisplayCard that was
previously shared by nCryptone under the Joint Development Agreement. The
Company will continue to utilize nCryptone personnel for one year after the
acquisition for the further development of the technology surrounding the
DisplayCard. Additionally, the Company plans to retain the two top executives of
the firm who were instrumental in developing the technology of the DisplayCard.

The Company and nCryptone intend to complete due diligence, obtain necessary
corporate authorizations and appropriate documents in final form for the
proposed acquisition by June 5, 2006. No legally binding obligations have been
created, implied or inferred by this agreement.

<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.

                                            Innovative Card Technologies, Inc.
                                            ----------------------------------
                                                      (Registrant)

Date       April 26, 2006
           ---------------------------
                                           By:  /s/ Bennet P. Tchaikovsky
                                                --------------------------------
                                          Name  Bennet P. Tchaikovsky
                                        Title:  Chief Financial Officer
{"company-data": {"conformed-name": "INNOVATIVE CARD TECHNOLOGIES INC", "cik": "0001300578", "assigned-sic": "3670", "irs-number": "141861651", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-51260", "film-number": "06782297"}, "business-address": {"street1": "11601 WILSHIRE BOULEVARD", "street2": "SUITE 2150", "city": "LOS ANGELES", "state": "CA", "zip": "90025", "phone": "310-312-0700"}, "mail-address": {"street1": "11601 WILSHIRE BOULEVARD", "street2": "SUITE 2150", "city": "LOS ANGELES", "state": "CA", "zip": "90025"}}
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) April 26, 2006 (April 20, 2006)
                                                 -------------------------------

                       Innovative Card Technologies, Inc.
             (Exact name of registrant as specified in its charter)

           Delaware                  000-51260                 14-1861651
  ---------------------------   ----------------------        ------------
 (State or other jurisdiction  (Commission File Number)      (IRS Employer
      of incorporation)                                    Identification No.)

11601 Wilshire Boulevard, Suite 2160, Los Angeles CA             90025
----------------------------------------------------            --------
    (Address of principal executive offices)                   (Zip Code)

Registrant's telephone number, including area code: (310) 312-0700
                                                    --------------

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))
This Form 8-K and other reports filed by the Registrant from time to time with
the Securities and Exchange Commission (collectively the "Filings") contain
forward looking statements and information that are based upon beliefs of, and
information currently available to, the Registrant's management as well as
estimates and assumptions made by the Registrant's management. When used in the
Filings the words "anticipate", "believe", "estimate", "expect", "future",
"intend", "plan" or the negative of these terms and similar expressions as they
relate to the Registrant or the Registrant's management identify forward looking
statements. Such statements reflect the current view of the Registrant with
respect to future events and are subject to risks, uncertainties, assumptions
and other factors relating to the Registrant's industry, operations and results
of operations and any businesses that may be acquired by the Registrant. Should
one or more of these risks or uncertainties materialize, or should the
underlying assumptions prove incorrect, actual results may differ significantly
from those anticipated, believed, estimated, expected, intended or planned.

Item 8.01 - Other Events

On April 20, 2006, Innovative Card Technologies, Inc. (the "Company") signed a
term sheet whereby the Company would purchase rights relating to the Display
Card from nCryptone for 4,500,000 shares of the Company's common stock and
$1,000,000 USD to be paid within one year after the close of the acquisition.
Included in this proposed acquisition is all intellectual property relating to
the DisplayCard under the July 25, 2005 Joint Development Agreement with
nCryptone, all nCryptone intellectual property relating to the DisplayCard, and
assumption of certain accounts payable directly allocable to the DisplayCard, as
well as all tangible assets relating to the DisplayCard.

After the completion of the proposed acquisition, the Company will have all
rights, including 100% of all revenues, relating to the DisplayCard that was
previously shared by nCryptone under the Joint Development Agreement. The
Company will continue to utilize nCryptone personnel for one year after the
acquisition for the further development of the technology surrounding the
DisplayCard. Additionally, the Company plans to retain the two top executives of
the firm who were instrumental in developing the technology of the DisplayCard.

The Company and nCryptone intend to complete due diligence, obtain necessary
corporate authorizations and appropriate documents in final form for the
proposed acquisition by June 5, 2006. No legally binding obligations have been
created, implied or inferred by this agreement.
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.

                                            Innovative Card Technologies, Inc.
                                            ----------------------------------
                                                      (Registrant)

Date       April 26, 2006
           ---------------------------
                                           By:  /s/ Bennet P. Tchaikovsky
                                                --------------------------------
                                          Name  Bennet P. Tchaikovsky
                                        Title:  Chief Financial Officer