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): January 5, 2006
                               (January 2, 2006)

                        COMPOSITE TECHNOLOGY CORPORATION

             (Exact name of registrant as specified in its charter)

            Nevada                     000-10999                  59-2025386
            ------                     ----------                 ----------
(State or other jurisdiction    (Commission File Number)        (IRS Employer
      of incorporation)                                      Identification No.)

                                2026 McGaw Avenue
                                Irvine, CA 92614
          (Address of principal executive offices, including zip code)

       Registrant's telephone number, including area code: (949) 428-8500

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:

|_|   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>

Item 1.01. Entry into a Material Definitive Agreement

On January 2, 2006,  Composite  Technology  Corporation (the "Company")  entered
into a Public and Media  Relations  Strategy and Services  Consulting  Agreement
(the "Agreement") with Media Relations Strategy, Inc., Boca Raton, FL ("MRS") to
provide  public  and media  relations  strategy  and  marketing  counsel  in the
financial  markets for a term of 27 months and will terminate on March 28, 2008.
The Agreement  provides that MRS shall (1) act as a liaison  between the Company
and its  shareholders,  (2) act as an advisor  to the  Company  with  respect to
existing and potential  markets and investors,  and (3) act as an advisor to the
Company  with  respect to  communications  and  information  dissemination.  The
Company  shall pay MRS a  non-refundable  retainer  fee of $36,500  per month in
advance as follows:  (i) $197,100 on execution  of the present  Agreement;  (ii)
$197,100 on April 21, 2006;  (iii) $197,100 on August 25, 2006; (iv) $197,100 on
December 22, 2006 and (v) $197,100 on March 23, 2007.  MRS shall be  responsible
for all the costs and expenses  related to the provision of the  Services.  As a
further  incentive  to the MRS,  the Company  agrees to issue MRS the  following
warrants  to acquire the  Company's  unregistered,  restricted  shares of common
stock: (i) 200,000 warrants at an exercise price of $2.00 per warrant;  and (ii)
200,000  warrants at an exercise  price of $2.50 per warrant;  and (iii) 200,000
warrants at an exercise price of $3.00 per warrant ("the Warrants").

The  Warrants  shall  expire on  Wednesday,  December  31,  2008 and shall  have
piggyback registration rights.

The  Company  shall have the right at its sole  discretion  to settle the entire
remuneration  due under the  Agreement by paying the full amount of the contract
in advance within sixty (60) days of the signature of the present Agreement.  In
the event that the  Company  shall  elect to pay the  contract  remuneration  in
advance,  the full amount payable shall be discounted by fifteen  percent (15%).
The Company shall have the right to pay the  remuneration  in cash or in shares.
In the event of the payment of the remuneration in shares,  such shares shall be
unregistered  shares  of  common  stock  (half of which  shall  carry  piggyback
registration rights) and valued at a price above the market price on the date of
issuance.

The  Agreement may be terminated by any party upon failure of the other party to
cure a default  or breach of this  Agreement  within  (30)  days;  (ii) upon the
bankruptcy or liquidation of the other party;  (iii) upon the other party filing
to benefit from any insolvency  law;  and/or (iv) upon the other party having or
applying  to have a  receiver  appointed  to  have  jurisdiction  over  all or a
substantial  part of such party's assets or business.  The Agreement may also be
terminated by the Company in the event of a material and serious  breach of MRS'
duties or a repeated  violation of its duties;  or (ii) in the event of the loss
by MRS of the services of a Key Person which is defined as any person or manager
working with MRS whose presence the parties agree is materially important to the
fulfillment  of the  services to be provided by MRS. At the time of execution of
the Agreement, the Key Person is Martin L. Goldberg.

The  description  of the  Agreement is qualified in its entirety by reference to
the Agreement attached hereto as Exhibit 10.1.

Item 3.02.  Unregistered Sales of Equity Securities

On December 21, 2005, Composite Technology  Corporation issued 451,613 shares of
its common stock to one  accredited  investor upon the conversion of $700,000 of
principal of  Convertible  Debentures at a conversion  price of $1.55 per share.
The Debentures  were originally  issued in August,  2004 and had been carried on
the  Company's  balance  sheet as long term debt  prior to the  conversion.  The
Company  relied upon the exemption from  registration  as set forth in Section 4
(2) of the  Securities Act for the issuance of these  securities.  The recipient
took its securities for investment  purposes  without a view to distribution and
had access to information concerning the Company and its business prospects,  as
required by the Securities Act. In addition,  there was no general  solicitation
or advertising for the acquisition of these securities.

Item 9.01 Financial Statements and Exhibits

(c) Exhibits

Exhibit Number Exhibit Title or Description

      10.01  Public  and  Media  Relations  Strategy  and  Services   Consulting
      Agreement

<PAGE>

                                    SIGNATURE

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.

                                     COMPOSITE TECHNOLOGY CORPORATION
                                               (Registrant)

Date: January 5, 2006                 By:  /s/ Benton H Wilcoxon
                                         -----------------------
                                         Chief Executive Officer
{"company-data": {"conformed-name": "COMPOSITE TECHNOLOGY CORP", "cik": "0000317477", "assigned-sic": "3600", "irs-number": "592025386", "state-of-incorporation": "NV", "fiscal-year-end": "0930"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-10999", "film-number": "06512386"}, "business-address": {"street1": "2026 MCGRAW AVE", "city": "IRVINE", "state": "CA", "zip": "92614", "phone": "(949) 428-8500"}, "mail-address": {"street1": "2026 MCGRAW AVE", "city": "IRVINE", "state": "CA", "zip": "92614"}, "former-company": [{"former-conformed-name": "ELDORADO FINANCIAL GROUP INC", "date-changed": "20000606"}, {"former-conformed-name": "ELDORADO GOLD & EXPLORATION INC", "date-changed": "19870202"}]}
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): January 5, 2006
                               (January 2, 2006)

                        COMPOSITE TECHNOLOGY CORPORATION

             (Exact name of registrant as specified in its charter)

            Nevada                     000-10999                  59-2025386
            ------                     ----------                 ----------
(State or other jurisdiction    (Commission File Number)        (IRS Employer
      of incorporation)                                      Identification No.)

                                2026 McGaw Avenue
                                Irvine, CA 92614
          (Address of principal executive offices, including zip code)

       Registrant's telephone number, including area code: (949) 428-8500

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:

|_|   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

On January 2, 2006,  Composite  Technology  Corporation (the "Company")  entered
into a Public and Media  Relations  Strategy and Services  Consulting  Agreement
(the "Agreement") with Media Relations Strategy, Inc., Boca Raton, FL ("MRS") to
provide  public  and media  relations  strategy  and  marketing  counsel  in the
financial  markets for a term of 27 months and will terminate on March 28, 2008.
The Agreement  provides that MRS shall (1) act as a liaison  between the Company
and its  shareholders,  (2) act as an advisor  to the  Company  with  respect to
existing and potential  markets and investors,  and (3) act as an advisor to the
Company  with  respect to  communications  and  information  dissemination.  The
Company  shall pay MRS a  non-refundable  retainer  fee of $36,500  per month in
advance as follows:  (i) $197,100 on execution  of the present  Agreement;  (ii)
$197,100 on April 21, 2006;  (iii) $197,100 on August 25, 2006; (iv) $197,100 on
December 22, 2006 and (v) $197,100 on March 23, 2007.  MRS shall be  responsible
for all the costs and expenses  related to the provision of the  Services.  As a
further  incentive  to the MRS,  the Company  agrees to issue MRS the  following
warrants  to acquire the  Company's  unregistered,  restricted  shares of common
stock: (i) 200,000 warrants at an exercise price of $2.00 per warrant;  and (ii)
200,000  warrants at an exercise  price of $2.50 per warrant;  and (iii) 200,000
warrants at an exercise price of $3.00 per warrant ("the Warrants").

The  Warrants  shall  expire on  Wednesday,  December  31,  2008 and shall  have
piggyback registration rights.

The  Company  shall have the right at its sole  discretion  to settle the entire
remuneration  due under the  Agreement by paying the full amount of the contract
in advance within sixty (60) days of the signature of the present Agreement.  In
the event that the  Company  shall  elect to pay the  contract  remuneration  in
advance,  the full amount payable shall be discounted by fifteen  percent (15%).
The Company shall have the right to pay the  remuneration  in cash or in shares.
In the event of the payment of the remuneration in shares,  such shares shall be
unregistered  shares  of  common  stock  (half of which  shall  carry  piggyback
registration rights) and valued at a price above the market price on the date of
issuance.

The  Agreement may be terminated by any party upon failure of the other party to
cure a default  or breach of this  Agreement  within  (30)  days;  (ii) upon the
bankruptcy or liquidation of the other party;  (iii) upon the other party filing
to benefit from any insolvency  law;  and/or (iv) upon the other party having or
applying  to have a  receiver  appointed  to  have  jurisdiction  over  all or a
substantial  part of such party's assets or business.  The Agreement may also be
terminated by the Company in the event of a material and serious  breach of MRS'
duties or a repeated  violation of its duties;  or (ii) in the event of the loss
by MRS of the services of a Key Person which is defined as any person or manager
working with MRS whose presence the parties agree is materially important to the
fulfillment  of the  services to be provided by MRS. At the time of execution of
the Agreement, the Key Person is Martin L. Goldberg.

The  description  of the  Agreement is qualified in its entirety by reference to
the Agreement attached hereto as Exhibit 10.1.

Item 3.02.  Unregistered Sales of Equity Securities

On December 21, 2005, Composite Technology  Corporation issued 451,613 shares of
its common stock to one  accredited  investor upon the conversion of $700,000 of
principal of  Convertible  Debentures at a conversion  price of $1.55 per share.
The Debentures  were originally  issued in August,  2004 and had been carried on
the  Company's  balance  sheet as long term debt  prior to the  conversion.  The
Company  relied upon the exemption from  registration  as set forth in Section 4
(2) of the  Securities Act for the issuance of these  securities.  The recipient
took its securities for investment  purposes  without a view to distribution and
had access to information concerning the Company and its business prospects,  as
required by the Securities Act. In addition,  there was no general  solicitation
or advertising for the acquisition of these securities.

Item 9.01 Financial Statements and Exhibits

(c) Exhibits

Exhibit Number Exhibit Title or Description

      10.01  Public  and  Media  Relations  Strategy  and  Services   Consulting
      Agreement
SIGNATURE

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.

                                     COMPOSITE TECHNOLOGY CORPORATION
                                               (Registrant)

Date: January 5, 2006                 By:  /s/ Benton H Wilcoxon
                                         -----------------------
                                         Chief Executive Officer