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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>SECURITIES
      AND EXCHANGE COMMISSION</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><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>Washington,
      D.C. 20549</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><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: 14pt; FONT-FAMILY: Times New Roman"><strong>FORM
      8-K</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><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>Current
      Report</strong></font></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>Pursuant
      to Section&#160;13 or 15(d) of the Securities Exchange Act of
      1934</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><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>Date
      of Report (Date of earliest event reported): June 19, 2006</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><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: 12pt; FONT-FAMILY: Times New Roman"><strong>Interactive
      Television Networks, Inc.</strong></font></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>(Exact
      Name of Registrant as Specified in its Charter)</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><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>Nevada</strong></font></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>(State
      or Other Jurisdiction of Incorporation)</strong></font></div>
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                File Number)</strong></font></div>
            </td>
            <td valign="top" width="40%">
              <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>98-0372720</strong></font></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>(I.R.S.
                Employer Identification No.)</strong></font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="40%">&#160;</td>
            <td valign="top" width="40%">&#160;</td>
          </tr>
          <tr>
            <td valign="top" width="40%">
              <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>2010
                Main Street, Suite 500</strong></font></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>Irvine,
                California </strong></font></div>
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                of Principal Executive Offices)</strong></font></div>
            </td>
            <td valign="top" width="40%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#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">92614</font></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>(Zip
                Code)</strong></font></div>
            </td>
          </tr>

      </table>
    </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>(949)
      </strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>223-4100</strong></font></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><u>(Registrant&#8217;s
      Telephone Number, Including Area Code)</u></strong></font></div>
    <div>&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

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            <td valign="top" width="18%">&#160;</td>
            <td valign="top" width="42%" style="border-bottom: black thin solid;">&#160;</td>
            <td valign="top" width="18%">&#160;</td>
          </tr>
          <tr>
            <td colspan="3" valign="top" width="78%">
              <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, former address, and former fiscal year, if changed since last
                report.)</font></div>
            </td>
          </tr>

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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></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">Check
      the
      appropriate box below if the Form&#160;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>
    <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"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Wingdings">&#168;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
      Written
      communications pursuant to Rule&#160;425 under the Securities Act (17
      CFR&#160;230.425)</font></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"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Wingdings">&#168;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
      Soliciting material pursuant to Rule&#160;14a-12 under the Exchange Act (17
      CFR&#160;240.14a-12)</font></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"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Wingdings">&#168;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
      Pre-commencement communications pursuant to Rule&#160;14d-2(b) under the
      Exchange Act (17 CFR 240.14d-2(b))</font></div>
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      Pre-commencement communications pursuant to Rule&#160;13e-4(c) under the
      Exchange Act (17 CFR 240.13e-4(c))</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>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: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
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      19, 2006 Interactive Televisions Networks, Inc. (the &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Company</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;)
      entered into a Securities Purchase Agreement with four institutional investors
      (the &#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Purchasers</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;),
      pursuant to which the Company sold to the Purchasers (i) the Company&#8217;s Variable
      Rate Secured Convertible Debentures having an initial principal balance of
      up to
      $3,000,000 (ii)&#160; five-year Series A Common Stock Purchase Warrants that
      grant the purchasers the right to purchase 1,500,000 shares of the Company&#8217;s
      common stock, and (iii) Series B Common Stock Purchase Warrants that grant
      the
      Purchasers the right to acquire, during a period no longer than two years
      following the closing of the sale, (x) up to 1,500,000 shares of common stock
      and (y) additional Series A Warrants for the purchase of an additional 1,500,000
      shares. In addition to entering into the foregoing documents, the Company also
      entered into a Registration Rights Agreement and a Security Agreement with
      the
      purchasers, and the Company&#8217;s wholly-owned subsidiary entered into a Subsidiary
      Guarantee. </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">The
      closing of the sale of the shares and warrants is subject to delivery of certain
      closing items and the satisfaction of other customary closing conditions. The
      Securities Purchase Agreement will be terminable by the Purchasers if the
      Closing fails to occur for any reason on or before July 21, 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 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"><em>The
      Debenture</em></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">The
      Debentures, if and when issued, will accrue interest on the aggregate
      unconverted and then outstanding principal amount of the Debentures at the
      rate
      per annum equal to the greater of (i) 15% or (ii) LIBOR for the applicable
      interest period plus 5.0%. Interest shall be payable quarterly in arrears on
      the
      first day of each January, April, July, and October, commencing on July 1,
      2006.
      Interest shall be payable, at the Company&#8217;s option, in cash or shares of the
      Company&#8217;s common stock valued at 90% of the average of the daily volume weighted
      average price of the common stock (&#8220;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>VWAP</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8221;)
      for
      the 20 consecutive trading days ending on the trading day that is immediately
      prior to the applicable interest payment date. Commencing on November 1, 2006
      and continuing monthly thereafter until the Debentures have been repaid in
      full,
      the Company shall be obligated to make monthly principal payments of $150,000.
      The monthly payments of principal also may, at the option of the Company, be
      paid in cash or in shares of the Company&#8217;s common stock. If the Company elects
      to make any principal payment in shares of its common stock, the shares of
      common stock will be valued at a price equal to the lesser of (i) the conversion
      price then in effect (initially $2.00, subject to anti-dilution adjustments)
      and
      (ii) 90% of the average of the VWAPs for 20 consecutive trading
      days.</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">The
      Debentures will be convertible into shares of the Company&#8217;s common stock at any
      time at an initial conversion price of $2.00 per share. While the Debentures
      are
      outstanding, the initial conversion price is subject to (i) reduction to the
      lowest price at which the Company issues additional shares of common stock,
      or
      securities convertible into or exercisable for additional shares of common
      stock, and (ii) adjustment for future stock splits, reverse stock splits,
      mergers or reorganizations, and similar changes affecting common stock holders.
      </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">Commencing
      in December 2006, the Company has the right to prepay the Debentures at a
      premium depending on the date on which the Company elects to redeem the
      Debentures. If the Company elects to redeem the Debentures prior to the 12
      month
      anniversary of the issuance of the Debentures, the Company will have to pay
      115%
      of the principal amount of the Debenture then outstanding or, if the redemption
      occurs on or after the 12 month anniversary of the issuance of the Debenture,
      the Company will have to pay 110% of the principal amount of the Debentures
      then
      outstanding. </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">The
      Debentures will be secured by a lien on substantially all of the Company&#8217;s
      assets </font></div>
    <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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        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">2</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">&#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"><em>Warrants</em></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">At
      the
      closing of the sale of the Debentures, the Company will also issue to the
      Purchasers (A) the five-year Series A Warrants that grant the Purchasers the
      right to purchase 1,500,000 shares of common stock at a price of $3.00 per
      share, and (B) the Series B Warrants that grant the Purchasers the right to
      acquire (x) up to 1,500,000 shares of common stock at a price of $2.00 per
      share, and (y) additional Series A Warrants for the purchase of an additional
      1,500,000 shares at $3.00 per share. The Series B Warrants are exercisable
      until
      the earlier of the nine month anniversary of the effectiveness of the
      registration statement or the two year anniversary of their issuance. The
      exercise price of the foregoing warrants is subject to adjustment .</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: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><em>Beneficial
      Ownership Limitation</em></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">The
      Debentures and the Warrants contain a beneficial ownership limitation provision
      that precludes any Purchaser from converting its Debentures or from exercising
      its Warrants if, as a result of such conversion of exercise, the Purchaser
      would
      own beneficially more than 4.99% of the Company&#8217;s outstanding common stock. The
      beneficial ownership limitation provisions may be waived by each Purchaser,
      at
      the election of such Purchaser, upon not less than 61 days&#8217; prior notice to the
      Company, to change the beneficial ownership limitation to 9.99% of the number
      of
      shares of the Common Stock outstanding immediately after giving effect to the
      issuance of shares of Common Stock upon conversion of the Debenture and/or
      Warrant.</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: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><em>Registration
      Rights</em></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">The
      Company and the Purchasers also entered into a Registration Rights Agreement
      pursuant to which the Company agreed to prepare and file, on or before 30 days
      from the closing date, a registration statement with the SEC covering the resale
      of all of the shares of common stock issued or issuable in the transaction.
      The
      Company is required to have such registration statement declared effective
      by
      the SEC on the 90</font><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"><sup>th</sup></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
      day from
      the closing date (if the registration statement is not reviewed by the SEC)
      or
      by the 120</font><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"><sup>th</sup></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
      day from
      the closing (if the registration statement is reviewed by the SEC), or be
      subject to the payment of specified liquidated damages to Purchasers. The
      Company may also be required, under certain circumstances, to pay the Purchasers
      specified liquidated damages if it is unable to maintain the effectiveness
      of
      the registration statement. </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"><em>Documents</em></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">Copies
      of
      the Securities Purchase Agreement, the form of Variable Rate Secured Convertible
      Debentures, the form of Series A Common Stock Purchase Warrant, the form of
      the
      Series B Common Stock Purchase Warrant, the Registration Rights Agreement,
      the
      Security Agreement, and the Subsidiary Guarantee are filed as exhibits to this
      Current Report on Form 8-K. The summary of these agreements set forth above
      is
      qualified by reference to such 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 style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: -72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>ITEM
      </strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>9.01</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>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: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(c)
      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 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">There
      are
      filed as part of this report the exhibits listed on the accompanying Index
      to
      Exhibits, which 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 id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">3</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#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"><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 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%"><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>
            <td colspan="2"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">INTERACTIVE
              TELEVISION NETWORKS, INC.</font></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>
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          <tr valign="top" bgcolor="#ffffff">
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">Date:&#160;June
              19, 2006</font></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;CHARLES
              PRAST</font></td>
          </tr>
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            <td colspan="2"><font style="FONT-FAMILY: " size="1">&#160;</font></td>
            <td align="left">
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              <div style="DISPLAY: block; MARGIN-LEFT: 27pt; TEXT-INDENT: -27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Charles
                Prast, Chief Executive Officer </font></div>
            </td>
          </tr>
          <tr valign="top" bgcolor="#ffffff">
            <td colspan="2"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">&#160;</font></td>
            <td>&#160;</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 id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
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        </div>
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      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">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">
        </div>
        <div style="WIDTH: 100%" align="left">
        </div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#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">EXHIBIT
      INDEX</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div align="left">
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="left" valign="top" width="10%" style="border-bottom: black thin solid;">
              <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>Exhibit
                No.</strong></font></div>
            </td>
            <td valign="top" width="1%">&#160;</td>
            <td valign="top" width="89%" style="border-bottom: black thin solid;">
              <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>Description</strong></font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="10%">
              <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">4.1</font></div>
            </td>
            <td align="left" valign="top" width="1%">&#160;</td>
            <td align="left" valign="top" width="89%">
              <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">Form
                of Series A Common Stock Purchase Warrant.</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="10%">&#160;</td>
            <td align="left" valign="top" width="1%">&#160;</td>
            <td align="left" valign="top" width="89%">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="top" width="10%">
              <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">4.2</font></div>
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            <td align="left" valign="top" width="1%">&#160;</td>
            <td align="left" valign="top" width="89%">
              <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">Form
                of Series B Common Stock Purchase Warrant.</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="10%">&#160;</td>
            <td align="left" valign="top" width="1%">&#160;</td>
            <td align="left" valign="top" width="89%">&#160;</td>
          </tr>
          <tr>
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            </td>
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            <td align="left" valign="top" width="89%">
              <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">Form
                of Security Purchase Agreement, dated as of June 19, 2006, by and
                among
                the Company and the Purchasers named therein.</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="10%">&#160;</td>
            <td align="left" valign="top" width="1%">&#160;</td>
            <td align="left" valign="top" width="89%">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="top" width="10%">
              <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">10.2</font></div>
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            <td align="left" valign="top" width="89%">
              <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">Form
                of Registration Rights Agreement, dated as of June 19, 2006, by and
                among
                the Company and the Purchasers named therein.</font></div>
            </td>
          </tr>
          <tr>
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            <td align="left" valign="top" width="1%">&#160;</td>
            <td align="left" valign="top" width="89%">&#160;</td>
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            </td>
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            <td align="left" valign="top" width="89%">&#160;</td>
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                of Security Agreement, dated June 19, 2005, between the Company and
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            </td>
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{"company-data": {"conformed-name": "Interactive Television Networks", "cik": "0001174893", "assigned-sic": "4833", "irs-number": "980372720", "state-of-incorporation": "NV", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-50122", "film-number": "06914508"}, "business-address": {"street1": "2010 MAIN STREET", "street2": "STE 500", "city": "IRVINE", "state": "CA", "zip": "92614", "phone": "949-456-9510"}, "mail-address": {"street1": "2010 MAIN STREET", "street2": "STE 500", "city": "IRVINE", "state": "CA", "zip": "92614"}, "former-company": {"former-conformed-name": "RADIUM VENTURES INC", "date-changed": "20020605"}}
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): June 19, 2006
Interactive
      Television Networks, Inc.
(Exact
      Name of Registrant as Specified in its Charter)
Nevada
(State
      or Other Jurisdiction of Incorporation)
000-50122
(Commission
                File Number)
98-0372720
(I.R.S.
                Employer Identification No.)
2010
                Main Street, Suite 500
Irvine,
                California
(Address
                of Principal Executive Offices)
92614
(Zip
                Code)
(949)
223-4100
(Registrant's
      Telephone Number, Including Area Code)
(Former
                name, former address, and former fiscal year, 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):
¨
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
      June
      19, 2006 Interactive Televisions Networks, Inc. (the "
Company
")
      entered into a Securities Purchase Agreement with four institutional investors
      (the "
Purchasers
"),
      pursuant to which the Company sold to the Purchasers (i) the Company's Variable
      Rate Secured Convertible Debentures having an initial principal balance of
      up to
      $3,000,000 (ii)  five-year Series A Common Stock Purchase Warrants that
      grant the purchasers the right to purchase 1,500,000 shares of the Company's
      common stock, and (iii) Series B Common Stock Purchase Warrants that grant
      the
      Purchasers the right to acquire, during a period no longer than two years
      following the closing of the sale, (x) up to 1,500,000 shares of common stock
      and (y) additional Series A Warrants for the purchase of an additional 1,500,000
      shares. In addition to entering into the foregoing documents, the Company also
      entered into a Registration Rights Agreement and a Security Agreement with
      the
      purchasers, and the Company's wholly-owned subsidiary entered into a Subsidiary
      Guarantee.
The
      closing of the sale of the shares and warrants is subject to delivery of certain
      closing items and the satisfaction of other customary closing conditions. The
      Securities Purchase Agreement will be terminable by the Purchasers if the
      Closing fails to occur for any reason on or before July 21, 2006.
The
      Debenture
The
      Debentures, if and when issued, will accrue interest on the aggregate
      unconverted and then outstanding principal amount of the Debentures at the
      rate
      per annum equal to the greater of (i) 15% or (ii) LIBOR for the applicable
      interest period plus 5.0%. Interest shall be payable quarterly in arrears on
      the
      first day of each January, April, July, and October, commencing on July 1,
      2006.
      Interest shall be payable, at the Company's option, in cash or shares of the
      Company's common stock valued at 90% of the average of the daily volume weighted
      average price of the common stock ("
VWAP
")
      for
      the 20 consecutive trading days ending on the trading day that is immediately
      prior to the applicable interest payment date. Commencing on November 1, 2006
      and continuing monthly thereafter until the Debentures have been repaid in
      full,
      the Company shall be obligated to make monthly principal payments of $150,000.
      The monthly payments of principal also may, at the option of the Company, be
      paid in cash or in shares of the Company's common stock. If the Company elects
      to make any principal payment in shares of its common stock, the shares of
      common stock will be valued at a price equal to the lesser of (i) the conversion
      price then in effect (initially $2.00, subject to anti-dilution adjustments)
      and
      (ii) 90% of the average of the VWAPs for 20 consecutive trading
      days.
The
      Debentures will be convertible into shares of the Company's common stock at any
      time at an initial conversion price of $2.00 per share. While the Debentures
      are
      outstanding, the initial conversion price is subject to (i) reduction to the
      lowest price at which the Company issues additional shares of common stock,
      or
      securities convertible into or exercisable for additional shares of common
      stock, and (ii) adjustment for future stock splits, reverse stock splits,
      mergers or reorganizations, and similar changes affecting common stock holders.
Commencing
      in December 2006, the Company has the right to prepay the Debentures at a
      premium depending on the date on which the Company elects to redeem the
      Debentures. If the Company elects to redeem the Debentures prior to the 12
      month
      anniversary of the issuance of the Debentures, the Company will have to pay
      115%
      of the principal amount of the Debenture then outstanding or, if the redemption
      occurs on or after the 12 month anniversary of the issuance of the Debenture,
      the Company will have to pay 110% of the principal amount of the Debentures
      then
      outstanding.
The
      Debentures will be secured by a lien on substantially all of the Company's
      assets
2
Warrants
At
      the
      closing of the sale of the Debentures, the Company will also issue to the
      Purchasers (A) the five-year Series A Warrants that grant the Purchasers the
      right to purchase 1,500,000 shares of common stock at a price of $3.00 per
      share, and (B) the Series B Warrants that grant the Purchasers the right to
      acquire (x) up to 1,500,000 shares of common stock at a price of $2.00 per
      share, and (y) additional Series A Warrants for the purchase of an additional
      1,500,000 shares at $3.00 per share. The Series B Warrants are exercisable
      until
      the earlier of the nine month anniversary of the effectiveness of the
      registration statement or the two year anniversary of their issuance. The
      exercise price of the foregoing warrants is subject to adjustment .
Beneficial
      Ownership Limitation
The
      Debentures and the Warrants contain a beneficial ownership limitation provision
      that precludes any Purchaser from converting its Debentures or from exercising
      its Warrants if, as a result of such conversion of exercise, the Purchaser
      would
      own beneficially more than 4.99% of the Company's outstanding common stock. The
      beneficial ownership limitation provisions may be waived by each Purchaser,
      at
      the election of such Purchaser, upon not less than 61 days' prior notice to the
      Company, to change the beneficial ownership limitation to 9.99% of the number
      of
      shares of the Common Stock outstanding immediately after giving effect to the
      issuance of shares of Common Stock upon conversion of the Debenture and/or
      Warrant.
Registration
      Rights
The
      Company and the Purchasers also entered into a Registration Rights Agreement
      pursuant to which the Company agreed to prepare and file, on or before 30 days
      from the closing date, a registration statement with the SEC covering the resale
      of all of the shares of common stock issued or issuable in the transaction.
      The
      Company is required to have such registration statement declared effective
      by
      the SEC on the 90
th
day from
      the closing date (if the registration statement is not reviewed by the SEC)
      or
      by the 120
th
day from
      the closing (if the registration statement is reviewed by the SEC), or be
      subject to the payment of specified liquidated damages to Purchasers. The
      Company may also be required, under certain circumstances, to pay the Purchasers
      specified liquidated damages if it is unable to maintain the effectiveness
      of
      the registration statement.
Documents
Copies
      of
      the Securities Purchase Agreement, the form of Variable Rate Secured Convertible
      Debentures, the form of Series A Common Stock Purchase Warrant, the form of
      the
      Series B Common Stock Purchase Warrant, the Registration Rights Agreement,
      the
      Security Agreement, and the Subsidiary Guarantee are filed as exhibits to this
      Current Report on Form 8-K. The summary of these agreements set forth above
      is
      qualified by reference to such exhibits.
ITEM
9.01
Financial
      Statements and Exhibits.
(c)
      Exhibits.
There
      are
      filed as part of this report the exhibits listed on the accompanying Index
      to
      Exhibits, which is incorporated herein by reference.
3
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.
INTERACTIVE
              TELEVISION NETWORKS, INC.
Date: June
              19, 2006
By:
/s/ CHARLES
              PRAST
Charles
                Prast, Chief Executive Officer
4
EXHIBIT
      INDEX
Exhibit
                No.
Description
4.1
Form
                of Series A Common Stock Purchase Warrant.
4.2
Form
                of Series B Common Stock Purchase Warrant.
10.1
Form
                of Security Purchase Agreement, dated as of June 19, 2006, by and
                among
                the Company and the Purchasers named therein.
10.2
Form
                of Registration Rights Agreement, dated as of June 19, 2006, by and
                among
                the Company and the Purchasers named therein.
10.3
Form
                of Variable Rate Secured Convertible Debentures due June 19,
                2008
10.4
Form
                of Security Agreement, dated June 19, 2005, between the Company and
                the
                Purchasers
10.5
Form
                of Subsidiary Guarantee, dated June 19, 2006, between ITVN, Inc.,
                the
                Company and the Purchasers