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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>UNITED
      STATES</strong></font></div>
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      AND EXCHANGE COMMISSION</strong></font></div>
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      DC 20549</strong></font></div>
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      8-K</strong></font></div>
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      EXCHANGE ACT OF 1934</strong></font></div>
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      Incorporation)</font></div>
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            <td width="33%">&#160;</td>
            <td align="left" valign="top" width="33%">
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            <td width="33%">&#160;</td>
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                Townsend West, Suite 17, Nashua, New Hampshire </font></div>
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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">03063</font></div>
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                of Principal Executive Offices)</font></div>
            </td>
            <td width="33%">&#160;</td>
            <td align="left" valign="top" width="33%">
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    <div>&#160;</div>
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      882-5200 </font>
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        <hr style="COLOR: black" align="left" noshade size="1" width="100%">
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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">(</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Registrant&#8217;s
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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>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">
      <div>
        <hr style="COLOR: black" align="left" noshade size="1" width="100%">
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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">(Former
      Name or Former Address, if Changed Since Last Report)</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">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 (</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><em>see
      </em></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">General
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 18pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Wingdings">o</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Soliciting
      material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)</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 id="TAB1" style="MARGIN-LEFT: 18pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Wingdings">o</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pre-commencement
      communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b))</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 id="TAB1" style="MARGIN-LEFT: 18pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Wingdings">o</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pre-commencement
      communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
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      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="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
      2.03 Creation of a Direct Financial Obligation or an Obligation under an
      Off-Balance Sheet Arrangement of a Registrant</strong></font></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
      3.02 Unregistered Sales of Equity Securities </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="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
      June
      13, 2006 iCAD, Inc. (the &#8220;Company&#8221;) borrowed $2,000,000 from its Chairman of the
      Board of Directors, Mr. Robert Howard, pursuant to its existing Loan Agreement
      with Mr. Howard, under which Mr. Howard has agreed to advance funds to the
      Company, or to provide guarantees of advances made by third parties in an amount
      up to $5,000,000. The Loan Agreement expires March 31, 2007, subject to
      extension by the parties. Outstanding advances are collateralized by
      substantially all of the assets of the Company and bear interest at prime
      interest rate plus 1% (9.00% at June 13, 2006). Notwithstanding the current
      expiration date of Loan Agreement, Mr. Howard has stated that he does not intend
      to request repayment of the amounts due to him under the Loan Agreement prior
      to
      March 31, 2008. Mr. Howard is entitled to convert outstanding advances made
      by
      him under the Loan Agreement into shares of the Company's common stock at any
      time based on the outstanding closing market price of the Company's common
      stock
      at the lesser of the market price at the time each advance is made (which was
      $1.45 for the $2,000,000 advance referred to above ) or at the time of
      conversion. However, Mr. Howard has agreed that while the Loan Agreement exists
      he will not convert any outstanding advances under the Loan Agreement into
      shares of the Company&#8217;s common stock that would exceed the available shares for
      issuance defined as the authorized shares of the Company&#8217;s common stock less
      issued and outstanding common shares less any reserved shares for outstanding
      convertible preferred stock, non-employee warrants and non-employee stock
      options</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
      June
      19, 2006, the Company agreed to borrow $300,000 from its Chief Executive
      Officer, Mr. Kenneth Ferry, pursuant to a Note Purchase Agreement (&#8220;Agreement&#8221;)
      and to be evidenced by a 7% Convertible Promissory Note (&#8220;Note&#8221;). The Note will
      mature on June 20, 2008, subject to the right of Mr. Ferry to accelerate payment
      upon the Company filing for or being adjudicated bankrupt or insolvent. Mr.
      Ferry may convert the principal and accrued and unpaid interest under the Note
      into shares of the Company&#8217;s common stock </font><a name="tx34394_11"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">at
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      price of $1.50 per share, which conversion price is subject to adjustment under
      certain circumstances such as common stock splits, or combinations or common
      stock dividends. &#160;Mr. Ferry has also agreed that he will not convert any
      principal amount or accrued and unpaid interest outstanding under the Note
      into
      shares of the Company&#8217;s common stock that would exceed the number of shares of
      the Company&#8217;s common stock then available for issuance defined as the authorized
      shares of the Company&#8217;s common stock less issued and outstanding common shares
      less any reserved shares for outstanding convertible preferred stock,
      non-employee warrants and non-employee stock options.</font></a></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      convertible securities referred to in the two paragraphs above were or will
      be
      issued in private transactions pursuant to exemptions from registration under
      Section 4(2) of the Securities Act of 1933, as amended.</font></div>
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        <div style="WIDTH: 100%; TEXT-ALIGN: center">
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        </div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></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"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></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"><strong>SIGNATURES</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">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 thereunto
      duly authorized.</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">
      <table align="center" bgcolor="#ffffff" border="0" cellpadding="0" cellspacing="0" width="100%">

          <tr valign="top" bgcolor="#ffffff">
            <td width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">&#160;</font></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>
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          <tr valign="top" bgcolor="#ffffff">
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">&#160;</font></td>
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                INC.</font></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>
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          </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/&#160;Annette
              Heroux</font></td>
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              <hr style="COLOR: black" align="left" noshade size="2" width="80%"><font size="2">Annette
              Heroux</font></td>
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                President of Finance, Chief Financial Officer</font></div>
            </td>
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            <td>&#160;</td>
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                  19, 2006</font></div>
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{"company-data": {"conformed-name": "ICAD INC", "cik": "0000749660", "assigned-sic": "3577", "irs-number": "020377419", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-09341", "film-number": "06913576"}, "business-address": {"street1": "4 TOWNSEND WEST, SUITE 17", "city": "NASHUA", "state": "NH", "zip": "03063", "phone": "603-882-5200"}, "mail-address": {"street1": "4 TOWNSEND WEST, SUITE 17", "city": "NASHUA", "state": "NH", "zip": "03063"}, "former-company": {"former-conformed-name": "HOWTEK INC", "date-changed": "19920703"}}
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)
June
      13, 2006
iCAD,
      INC.
(Exact
      Name of Registrant as Specified in Its Charter)
Delaware
(State
      or
      Other Jurisdiction
of
      Incorporation)
1-9341
02-0377419
(Commission
                File Number)
(IRS
                Employer Identification No.)
4
                Townsend West, Suite 17, Nashua, New Hampshire
03063
(Address
                of Principal Executive Offices)
(Zip
                Code)
(603)
      882-5200
(
Registrant's
      Telephone Number, Including Area Code)
(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):
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 Creation of a Direct Financial Obligation or an Obligation under an
      Off-Balance Sheet Arrangement of a Registrant
Item
      3.02 Unregistered Sales of Equity Securities
On
      June
      13, 2006 iCAD, Inc. (the "Company") borrowed $2,000,000 from its Chairman of the
      Board of Directors, Mr. Robert Howard, pursuant to its existing Loan Agreement
      with Mr. Howard, under which Mr. Howard has agreed to advance funds to the
      Company, or to provide guarantees of advances made by third parties in an amount
      up to $5,000,000. The Loan Agreement expires March 31, 2007, subject to
      extension by the parties. Outstanding advances are collateralized by
      substantially all of the assets of the Company and bear interest at prime
      interest rate plus 1% (9.00% at June 13, 2006). Notwithstanding the current
      expiration date of Loan Agreement, Mr. Howard has stated that he does not intend
      to request repayment of the amounts due to him under the Loan Agreement prior
      to
      March 31, 2008. Mr. Howard is entitled to convert outstanding advances made
      by
      him under the Loan Agreement into shares of the Company's common stock at any
      time based on the outstanding closing market price of the Company's common
      stock
      at the lesser of the market price at the time each advance is made (which was
      $1.45 for the $2,000,000 advance referred to above ) or at the time of
      conversion. However, Mr. Howard has agreed that while the Loan Agreement exists
      he will not convert any outstanding advances under the Loan Agreement into
      shares of the Company's common stock that would exceed the available shares for
      issuance defined as the authorized shares of the Company's common stock less
      issued and outstanding common shares less any reserved shares for outstanding
      convertible preferred stock, non-employee warrants and non-employee stock
      options
On
      June
      19, 2006, the Company agreed to borrow $300,000 from its Chief Executive
      Officer, Mr. Kenneth Ferry, pursuant to a Note Purchase Agreement ("Agreement")
      and to be evidenced by a 7% Convertible Promissory Note ("Note"). The Note will
      mature on June 20, 2008, subject to the right of Mr. Ferry to accelerate payment
      upon the Company filing for or being adjudicated bankrupt or insolvent. Mr.
      Ferry may convert the principal and accrued and unpaid interest under the Note
      into shares of the Company's common stock
at
      a
      price of $1.50 per share, which conversion price is subject to adjustment under
      certain circumstances such as common stock splits, or combinations or common
      stock dividends.  Mr. Ferry has also agreed that he will not convert any
      principal amount or accrued and unpaid interest outstanding under the Note
      into
      shares of the Company's common stock that would exceed the number of shares of
      the Company's common stock then available for issuance defined as the authorized
      shares of the Company's common stock less issued and outstanding common shares
      less any reserved shares for outstanding convertible preferred stock,
      non-employee warrants and non-employee stock options.
The
      convertible securities referred to in the two paragraphs above were or will
      be
      issued in private transactions pursuant to exemptions from registration under
      Section 4(2) of the Securities Act of 1933, as amended.
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 thereunto
      duly authorized.
iCAD,
                INC.
(Registrant)
By:
/s/ Annette
              Heroux
Annette
              Heroux
Vice
                President of Finance, Chief Financial Officer
Date:  June
                  19, 2006