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):
                       October 5, 2005 (October 4, 2005)


                        COMPOSITE TECHNOLOGY CORPORATION
             (Exact name of registrant as specified in its charter)


          Nevada                         000-10999               59-2025386
          ------                         ---------               ----------
(State or other jurisdiction of         (Commission            (IRS Employer
        incorporation)                  File Number)         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 October 4, 2005, Composite  Technology  Corporation (the "Company") and
the City of Kingman,  Kansas  executed an  agreement,  dated as of September 23,
2005,  pursuant to which the City of Kingman  agrees to purchase 70 linear miles
of the Company's ACCC conductor and related  hardware (the  "Agreement").  Under
the terms of the  Agreement,  the Company  agrees to credit $14,750 of the total
purchase  price  ($839,167 for the cable and $148,985 for the hardware) for past
consideration.  The  Agreement is subject to  Bankruptcy  Court  approval.  This
description  of the  Agreement  is qualified in its entirety by reference to the
Agreement that the Company has attached hereto as Exhibit 10.1.

Item 8.01 Other Events

      On October 5, 2005,  the  Company  issued a press  release  regarding  the
Company's  proposed  settlement of three claims under the bankruptcy  proceeding
and  rescheduled  hearing to  consider  confirmation  of the  Company's  plan of
reorganization to be heard before the U.S. Bankruptcy Court on October 17, 2005.
A copy of the Company's press release is attached hereto as Exhibit 99.1.

      The press release contains forward-looking  statements about the Company's
proposed  settlements  of  claims  under  the  bankruptcy   proceeding  and  its
expectations  concerning  emergence from bankruptcy.  These  statements  involve
risks and  uncertainties  and actual  results  may differ.  Potential  risks and
uncertainties  include  the  Company's  ability  to  obtain  Bankruptcy  Court's
approval of the proposed  settlements  and its plan of  reorganization;  and the
potential  rejection  of the  Company's  reorganization  plan,  and the negative
impact of such  outcome,  might have on the  Company's  financial  condition and
business.  More information on potential factors that could affect the Company's
financial  condition  is  included  from  time to time in the  Company's  public
reports filed with the SEC,  including the Company's  Form 10-KSB for the fiscal
year ended  September  30, 2004,  as amended,  the  Company's  Form 10-Q for the
quarter  ended  December 31, 2004, as amended,  the Company's  Form 10-Q for the
quarter  ended March 31, 2005, as amended,  and the Company's  Form 10-Q for the
quarter  ended June 30, 2005.  The Company  assumes no  obligation to update any
forward-looking  statements  or  information,  which  speak  only  as  of  their
respective dates.

Item 9.01 Financial Statements and Exhibits

      (d) Exhibits

      10.1  Agreement between City of Kingman,  Kansas and Composite  Technology
            Corporation, dated as of September 23, 2005

      99.1  Press Release of Composite Technology Corporation,  dated October 5,
            2005

<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: October 5, 2005                       By: /s/ Benton H Wilcoxon
                                                --------------------------------
                                                Chief Executive Officer

<PAGE>

                                  EXHIBIT INDEX

Exhibit
Number      Description of Exhibit

10.1        Agreement between City of Kingman,  Kansas and Composite  Technology
            Corporation, dated as of September 23, 2005

99.1        Press Release of Composite Technology Corporation,  dated October 5,
            2005
{"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": "051125566"}, "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):
                       October 5, 2005 (October 4, 2005)

                        COMPOSITE TECHNOLOGY CORPORATION
             (Exact name of registrant as specified in its charter)

          Nevada                         000-10999               59-2025386
          ------                         ---------               ----------
(State or other jurisdiction of         (Commission            (IRS Employer
        incorporation)                  File Number)         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 October 4, 2005, Composite  Technology  Corporation (the "Company") and
the City of Kingman,  Kansas  executed an  agreement,  dated as of September 23,
2005,  pursuant to which the City of Kingman  agrees to purchase 70 linear miles
of the Company's ACCC conductor and related  hardware (the  "Agreement").  Under
the terms of the  Agreement,  the Company  agrees to credit $14,750 of the total
purchase  price  ($839,167 for the cable and $148,985 for the hardware) for past
consideration.  The  Agreement is subject to  Bankruptcy  Court  approval.  This
description  of the  Agreement  is qualified in its entirety by reference to the
Agreement that the Company has attached hereto as Exhibit 10.1.

Item 8.01 Other Events

      On October 5, 2005,  the  Company  issued a press  release  regarding  the
Company's  proposed  settlement of three claims under the bankruptcy  proceeding
and  rescheduled  hearing to  consider  confirmation  of the  Company's  plan of
reorganization to be heard before the U.S. Bankruptcy Court on October 17, 2005.
A copy of the Company's press release is attached hereto as Exhibit 99.1.

      The press release contains forward-looking  statements about the Company's
proposed  settlements  of  claims  under  the  bankruptcy   proceeding  and  its
expectations  concerning  emergence from bankruptcy.  These  statements  involve
risks and  uncertainties  and actual  results  may differ.  Potential  risks and
uncertainties  include  the  Company's  ability  to  obtain  Bankruptcy  Court's
approval of the proposed  settlements  and its plan of  reorganization;  and the
potential  rejection  of the  Company's  reorganization  plan,  and the negative
impact of such  outcome,  might have on the  Company's  financial  condition and
business.  More information on potential factors that could affect the Company's
financial  condition  is  included  from  time to time in the  Company's  public
reports filed with the SEC,  including the Company's  Form 10-KSB for the fiscal
year ended  September  30, 2004,  as amended,  the  Company's  Form 10-Q for the
quarter  ended  December 31, 2004, as amended,  the Company's  Form 10-Q for the
quarter  ended March 31, 2005, as amended,  and the Company's  Form 10-Q for the
quarter  ended June 30, 2005.  The Company  assumes no  obligation to update any
forward-looking  statements  or  information,  which  speak  only  as  of  their
respective dates.

Item 9.01 Financial Statements and Exhibits

      (d) Exhibits

      10.1  Agreement between City of Kingman,  Kansas and Composite  Technology
            Corporation, dated as of September 23, 2005

      99.1  Press Release of Composite Technology Corporation,  dated October 5,
            2005
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: October 5, 2005                       By: /s/ Benton H Wilcoxon
                                                --------------------------------
                                                Chief Executive Officer
EXHIBIT INDEX

Exhibit
Number      Description of Exhibit

10.1        Agreement between City of Kingman,  Kansas and Composite  Technology
            Corporation, dated as of September 23, 2005

99.1        Press Release of Composite Technology Corporation,  dated October 5,
            2005