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      STATES</strong></font></div>
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      AND EXCHANGE COMMISSION</strong></font></div>
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      D.C. 20549</strong></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: 16pt; FONT-FAMILY: Times New Roman"><strong>FORM
      8-K</strong></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"><strong>CURRENT
      REPORT</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="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Pursuant
      to Section 13 or 15(d) of</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>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="justify">&#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">Date
      of
      Report (Date of earliest event reported):</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="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>August
      1, 2006</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="center"><font style="DISPLAY: inline; FONT-SIZE: 24pt; FONT-FAMILY: Times New Roman"><strong>BLACKHAWK
      CAPITAL GROUP BDC, 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="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></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"><strong>Delaware</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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            <td valign="top" width="25%">
              <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>814-00678</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>(Commission
                File Number)</strong></font></div>
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            <td align="left" valign="top" width="5%">&#160;</td>
            <td valign="top" width="25%">
              <div style="DISPLAY: block; MARGIN-LEFT: 27pt; 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>20-1031329</strong></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 27pt; 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>(IRS
                Employer Identification
                No.)</strong></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"><strong>14
                Wall Street, 11</strong></font><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"><sup><strong>th</strong></sup></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>
                Floor</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>New
                York, New York</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>(Address
                of principal executive offices)</strong></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"><strong>(Zip
                Code)</strong></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">Registrant&#8217;s
                </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">telephone</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
                number, including area code:</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>(212)
                566-8300</strong></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">Not</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Applicable</font></div>
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                name </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">or</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
                former </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">address</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">,
                if changed since last report)</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">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></div>
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            <td align="left" valign="top" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: Wingdings">o</font>&#160;</td>
            <td align="left" valign="top" width="78%">
              <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">Written
                communications pursuant to Rule 425 under the Securities Act (17
                CFR
                </font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">230.425)</font></div>
            </td>
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            <td align="left" valign="top" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: Wingdings">o</font>&#160;</td>
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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">Soliciting
                material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
                240.14a-12)</font></div>
            </td>
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            <td align="left" valign="top" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: Wingdings">o</font>&#160;</td>
            <td align="left" valign="top" width="78%">
              <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">Pre-commencement
                communications pursuant to Rule 14d-2(b) under the Exchange Act (17
                CFR
                240.14d-2(b))</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: Wingdings">o</font>&#160;</td>
            <td align="left" valign="top" width="78%">
              <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">Pre-commencement
                communications pursuant to Rule 13e-4(c) under the Exchange Act (17
                CFR
                240.13e-4(c))</font></div>
            </td>
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    <div>&#160;</div>
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            <td align="left" style="width: 63pt;">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Section
                1</strong></font></div>
            </td>
            <td align="left">
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong><em>Registrant's
                Business and
                Operations</em></strong></font></div>
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    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">

          <tr valign="top" style="line-height: 1.25;">
            <td align="left" style="width: 63pt;"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
              1.01</strong></font></td>
            <td align="left">
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong><em>Entry
                into a Material Definitive
                Agreement</em></strong></font></div>
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    </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">On
      August
      1, 2006, Blackhawk Capital Group BDC, Inc., a Delaware corporation (the
&#8220;Company&#8221;) issued a convertible note in the principal amount of $100,000
      ("Note") to The Concorde Group, Inc. (&#8220;Concorde&#8221;), a principal stockholder and
      affiliate of the Company. The Note evidences a loan from Concorde to the Company
      to fund a portion of expenses incurred by the Company consisting of legal fees
      and expenses, accounting fees and expenses, and consulting fees for SEC
      compliance consulting. The Note is repayable upon demand and bears interest
      at
      the annual rate of 8.25%. The Note is convertible into shares ("Shares") of
      common stock of the Company at a conversion rate of (i) one share of common
      stock per $1.00 of principal amount of Note converted or (ii) if the price
      per
      share in the Company's next Regulation E offering is less than or greater than
      $1.00, the conversion price shall be the conversion price in such Regulation
      E
      offering. Such Regulation E offering will only be made by the Company in
      compliance with the rules and regulations of Regulation E. Nevertheless, the
      Note may not be converted until November 1, 2006.</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>&#160;</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
      The Note
      was issued in a private placement transaction exempt from registration under
      Section 4(2) of the Securities Act of 1933, as amended ("Securities Act").
      Upon
      conversion of the Note, the Shares will be &#8220;restricted securities&#8221; as defined in
      Rule 144 of the Securities Act. The transaction was approved by unanimous
      written consent by the Board of Directors of the Company as being fair and
      in
      the best interests of the Company. The Note is attached hereto as Exhibit
      99.1.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">

          <tr valign="top" style="line-height: 1.25;">
            <td align="left" style="width: 63pt;"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Section
              2</strong></font></td>
            <td align="left">
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong><em>Financial
                Information</em></strong></font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">

          <tr valign="top" style="line-height: 1.25;">
            <td align="left" style="width: 63pt;"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
              2.03</strong></font></td>
            <td align="left">
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong><em>Creation
                of a Direct Financial Obligation or an Obligation
                </em></strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong><em>Under
                an Off-Balance Sheet Arrangement of a
                Registrant.</em></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: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      Company borrowed $100,000 from Concorde, a principal stockholder and affiliate
      of the Company. The loan is described in Item 1.01 "Entry into a Material
      Definitive Agreement" above. Item 1.01 is fully incorporated herein by
      reference. The Note evidences a loan from Concorde to the Company to fund a
      portion of expenses consisting of legal fees and expenses, accounting fees
      and
      expenses, and consulting fees for SEC compliance consulting. The Note is
      repayable upon demand and bears interest at the annual rate of 8.25%. The Note
      is convertible into the Shares at a conversion rate of (i) one share of common
      stock per $1.00 of principal amount of Note converted or (ii) if the price
      per
      share in the Company's next Regulation E offering is less than or greater than
      $1.00, the conversion price shall be the conversion price in such Regulation
      E
      offering. Such Regulation E offering will only be made by the Company in
      compliance with the rules and regulations of Regulation E. Nevertheless, the
      Note may not be converted until November 1, 2006.</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>&#160;</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
      The Note
      was issued in a private placement transaction exempt from registration under
      Section 4(2) of the Securities Act. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">

          <tr valign="top" style="line-height: 1.25;">
            <td align="left" style="width: 63pt;"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Section
              4</strong></font></td>
            <td align="left">
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong><em>Matters
                Related to Accountants and Financial
                Statements</em></strong></font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">

          <tr valign="top" style="line-height: 1.25;">
            <td align="left" style="width: 63pt;"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
              4.01</strong></font></td>
            <td align="left">
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong><em>Changes
                in Registrant's Certifying
                Accountant</em></strong></font></div>
            </td>
          </tr>

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    </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">The
      Company appointed Eisner LLP ("Eisner") as its new principal registered
      independent public accounting firm to audit the financial statements of the
      Company and dismissed Paritz &amp; Company, P.A. ("Paritz"), the independent
      public accountants previously engaged to audit the Company's financial
      statements. The change in the Company's independent public accountant was
      approved by the Board of Directors on August 17, 2006. The Company does not
      have
      an Audit Committee. </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">The
      audit
      reports of Paritz on the financial statements of the Company for the year ended
      December 31, 2005 and for the period from inception (April 22, 2004) to December
      31, 2004 did not contain an adverse opinion or disclaimer of opinion, nor were
      they modified as to uncertainty, audit scope or accounting principles.
</font></div>
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    <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">During
      the Company's two most recent fiscal years and through the date of this Form
      8-K, there were no disagreements between the Company and Paritz, whether or
      not
      resolved, on any matter of accounting principles or practices, financial
      statement disclosure, or auditing scope of procedure, which, if not resolved
      to
      the Company's satisfaction, would have caused Paritz to make reference to the
      subject matter of the disagreement(s) in connection with its reports.
</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">&#160;</div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
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    <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">During
      the Company's two most recent fiscal years and through the date of this Form
      8-K, the Company did not consult with Eisner with respect to the application
      of
      accounting principles to a specific completed or contemplated transaction,
      or
      the type of audit opinion that might be rendered on the Company's financial
      statements, or any other matters or reportable events listed in Item 304(a)(2)
      or Regulation S-K. </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">The
      Company provided Paritz with a copy of the foregoing disclosures. The Company
      requested that Paritz furnish the Company with a letter addressed to the
      Securities and Exchange Commission stating whether they agree with the
      statements that the Company has made in this Item 4.01. A copy of Paritz's
      response letter to the Company's request is filed as Exhibit 16.1 to this Form
      8-K. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">

          <tr valign="top" style="line-height: 1.25;">
            <td align="left" style="width: 63pt;"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
              5.05</strong></font></td>
            <td align="left">
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong><em>Amendments
                to the Registrant's Code of Ethics, </em></strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong><em>or
                Waiver of a Provision of the Code of
                Ethics</em></strong></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: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      Board
      of Directors voted by unanimous written consent on August 17, 2006 to amend
      and
      restate the Company's Code of Ethics (the "Code") to include additional
      compliance provisions applicable to the Company's directors, officers and
      employees recommended by a consulting firm specializing in SEC compliance
      matters for business development companies registered under the Investment
      Company Act of 1940, as amended, such as the Company. The Company does not
      have
      an Audit Committee.</font></div>
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            <td align="left" style="width: 63pt;"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Section
              8</strong></font></td>
            <td align="left">
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong><em>Other
                Events</em></strong></font></div>
            </td>
          </tr>

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          <tr valign="top" style="line-height: 1.25;">
            <td align="left" style="width: 63pt;"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
              8.01</strong></font></td>
            <td align="left">
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong><em>Other
                Events</em></strong></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="justify">&#160;</div>
    <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: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
      behalf
      of Blackhawk Capital Group BDC, Inc., a Delaware corporation (the "Company"),
      Network 1 Financial Securities, Inc. ("Network 1") submitted an application
      on
      Form 211 on July 5, 2006 to the National Association of Securities Dealers,
      Inc.
      ("NASD") to initiate quotations in the OTC Bulletin Board Service for the
      Company's common stock, par value $.00001 per share ("Common Stock"). On August
      22, 2006, the NASD issued a letter to Network 1 stating that unpriced quotations
      could begin on the OTC Bulletin Board on the Company's Common Stock and that
      if
      Network 1 decides to enter a priced quotation (bid or offer) in the Common
      Stock
      in any quotation medium, Network 1 must supplement its filing with the Form
      211.
      This supplemental filing must include the basis and factors for Network 1's
      priced quotation and be received by the NASD three days before the priced entry
      appears in a quotations medium. The symbol for the Common Stock is "BHCG."
      </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
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      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">

          <tr valign="top" style="line-height: 1.25;">
            <td align="left" style="width: 63pt;"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Section
              9</strong></font></td>
            <td align="left">
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong><em>Financial
                Statements and
                Exhibits</em></strong></font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
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          <tr valign="top" style="line-height: 1.25;">
            <td align="left" style="width: 63pt;"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
              9.01</strong></font></td>
            <td align="left">
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong><em>Financial
                Statements and
                Exhibits</em></strong></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="justify"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      following are attached hereto and incorporated herein as Exhibits. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div>
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          <tr valign="top" style="line-height: 1.25;">
            <td style="width: 36pt;">
            </td>
            <td align="left" style="width: 63pt;"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Exhibit
              14</strong></font></td>
            <td align="left">
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Amended
                and Restated Code of Ethics</font></div>
            </td>
          </tr>

      </table>
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          <tr valign="top" style="line-height: 1.25;">
            <td style="width: 36pt;">
            </td>
            <td align="left" style="width: 63pt;"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Exhibit
              16.1</strong></font></td>
            <td align="left">
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Letter
                of Paritz &amp; Company, P.A., former accountants to the
                Company</font></div>
            </td>
          </tr>

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            </td>
            <td align="left" style="width: 63pt;"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Exhibit
              99.1</strong></font></td>
            <td align="left">
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Convertible
                Note</font></div>
            </td>
          </tr>

      </table>
    </div><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">&#160;</div>
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        <div style="WIDTH: 100%; TEXT-ALIGN: center">&#160;</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"><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="left"><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">&#160;</div>
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          <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>
          </tr>
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            <td colspan="2">
              <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">BLACKHAWK
                CAPITAL GROUP BDC, INC.</font></div>
            </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>
          </tr>
          <tr valign="top" bgcolor="#ffffff">
            <td style="border-bottom: #ffffff solid;"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">Date:&#160;August
              25, 2006</font></td>
            <td style="border-bottom: #ffffff solid;"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">By:&#160;&#160;</font></td>
            <td style="border-bottom: black thin solid;"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">/s/&#160;Craig
              A.
              Zabala</font></td>
          </tr>
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            <td colspan="2"><font style="FONT-FAMILY: " size="1">&#160;</font></td>
            <td align="left"><font size="2">Craig A. Zabala</font></td>
          </tr>
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            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">Chief
              Executive Officer</font></td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
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{"company-data": {"conformed-name": "BLACKHAWK CAPITAL GROUP BDC INC", "cik": "0001294345", "irs-number": "201031329", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "814-00678", "film-number": "061058550"}, "business-address": {"street1": "14 WALL STREET 11TH FLOOR", "city": "NEW YORK", "state": "NY", "zip": "10005", "phone": "212-566-8300"}, "mail-address": {"street1": "14 WALL STREET 11TH FLOOR", "city": "NEW YORK", "state": "NY", "zip": "10005"}}
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):
August
      1, 2006
BLACKHAWK
      CAPITAL GROUP BDC, INC.
(Exact
      name of registrant as specified in its charter)
Delaware
(State
                or Other Jurisdiction of Incorporation)
814-00678
(Commission
                File Number)
20-1031329
(IRS
                Employer Identification
                No.)
14
                Wall Street, 11
th
Floor
New
                York, New York
(Address
                of principal executive offices)
10005
(Zip
                Code)
Registrant's
telephone
number, including area code:
(212)
                566-8300
Not
Applicable
(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:
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))
Section
                1
Registrant's
                Business and
                Operations
Item
              1.01
Entry
                into a Material Definitive
                Agreement
On
      August
      1, 2006, Blackhawk Capital Group BDC, Inc., a Delaware corporation (the
"Company") issued a convertible note in the principal amount of $100,000
      ("Note") to The Concorde Group, Inc. ("Concorde"), a principal stockholder and
      affiliate of the Company. The Note evidences a loan from Concorde to the Company
      to fund a portion of expenses incurred by the Company consisting of legal fees
      and expenses, accounting fees and expenses, and consulting fees for SEC
      compliance consulting. The Note is repayable upon demand and bears interest
      at
      the annual rate of 8.25%. The Note is convertible into shares ("Shares") of
      common stock of the Company at a conversion rate of (i) one share of common
      stock per $1.00 of principal amount of Note converted or (ii) if the price
      per
      share in the Company's next Regulation E offering is less than or greater than
      $1.00, the conversion price shall be the conversion price in such Regulation
      E
      offering. Such Regulation E offering will only be made by the Company in
      compliance with the rules and regulations of Regulation E. Nevertheless, the
      Note may not be converted until November 1, 2006.
The Note
      was issued in a private placement transaction exempt from registration under
      Section 4(2) of the Securities Act of 1933, as amended ("Securities Act").
      Upon
      conversion of the Note, the Shares will be "restricted securities" as defined in
      Rule 144 of the Securities Act. The transaction was approved by unanimous
      written consent by the Board of Directors of the Company as being fair and
      in
      the best interests of the Company. The Note is attached hereto as Exhibit
      99.1.
Section
              2
Financial
                Information
Item
              2.03
Creation
                of a Direct Financial Obligation or an Obligation
Under
                an Off-Balance Sheet Arrangement of a
                Registrant.
The
      Company borrowed $100,000 from Concorde, a principal stockholder and affiliate
      of the Company. The loan is described in Item 1.01 "Entry into a Material
      Definitive Agreement" above. Item 1.01 is fully incorporated herein by
      reference. The Note evidences a loan from Concorde to the Company to fund a
      portion of expenses consisting of legal fees and expenses, accounting fees
      and
      expenses, and consulting fees for SEC compliance consulting. The Note is
      repayable upon demand and bears interest at the annual rate of 8.25%. The Note
      is convertible into the Shares at a conversion rate of (i) one share of common
      stock per $1.00 of principal amount of Note converted or (ii) if the price
      per
      share in the Company's next Regulation E offering is less than or greater than
      $1.00, the conversion price shall be the conversion price in such Regulation
      E
      offering. Such Regulation E offering will only be made by the Company in
      compliance with the rules and regulations of Regulation E. Nevertheless, the
      Note may not be converted until November 1, 2006.
The Note
      was issued in a private placement transaction exempt from registration under
      Section 4(2) of the Securities Act.
Section
              4
Matters
                Related to Accountants and Financial
                Statements
Item
              4.01
Changes
                in Registrant's Certifying
                Accountant
The
      Company appointed Eisner LLP ("Eisner") as its new principal registered
      independent public accounting firm to audit the financial statements of the
      Company and dismissed Paritz & Company, P.A. ("Paritz"), the independent
      public accountants previously engaged to audit the Company's financial
      statements. The change in the Company's independent public accountant was
      approved by the Board of Directors on August 17, 2006. The Company does not
      have
      an Audit Committee.
The
      audit
      reports of Paritz on the financial statements of the Company for the year ended
      December 31, 2005 and for the period from inception (April 22, 2004) to December
      31, 2004 did not contain an adverse opinion or disclaimer of opinion, nor were
      they modified as to uncertainty, audit scope or accounting principles.
During
      the Company's two most recent fiscal years and through the date of this Form
      8-K, there were no disagreements between the Company and Paritz, whether or
      not
      resolved, on any matter of accounting principles or practices, financial
      statement disclosure, or auditing scope of procedure, which, if not resolved
      to
      the Company's satisfaction, would have caused Paritz to make reference to the
      subject matter of the disagreement(s) in connection with its reports.
During
      the Company's two most recent fiscal years and through the date of this Form
      8-K, the Company did not consult with Eisner with respect to the application
      of
      accounting principles to a specific completed or contemplated transaction,
      or
      the type of audit opinion that might be rendered on the Company's financial
      statements, or any other matters or reportable events listed in Item 304(a)(2)
      or Regulation S-K.
The
      Company provided Paritz with a copy of the foregoing disclosures. The Company
      requested that Paritz furnish the Company with a letter addressed to the
      Securities and Exchange Commission stating whether they agree with the
      statements that the Company has made in this Item 4.01. A copy of Paritz's
      response letter to the Company's request is filed as Exhibit 16.1 to this Form
      8-K.
Item
              5.05
Amendments
                to the Registrant's Code of Ethics,
or
                Waiver of a Provision of the Code of
                Ethics
The
      Board
      of Directors voted by unanimous written consent on August 17, 2006 to amend
      and
      restate the Company's Code of Ethics (the "Code") to include additional
      compliance provisions applicable to the Company's directors, officers and
      employees recommended by a consulting firm specializing in SEC compliance
      matters for business development companies registered under the Investment
      Company Act of 1940, as amended, such as the Company. The Company does not
      have
      an Audit Committee.
Section
              8
Other
                Events
Item
              8.01
Other
                Events
On
      behalf
      of Blackhawk Capital Group BDC, Inc., a Delaware corporation (the "Company"),
      Network 1 Financial Securities, Inc. ("Network 1") submitted an application
      on
      Form 211 on July 5, 2006 to the National Association of Securities Dealers,
      Inc.
      ("NASD") to initiate quotations in the OTC Bulletin Board Service for the
      Company's common stock, par value $.00001 per share ("Common Stock"). On August
      22, 2006, the NASD issued a letter to Network 1 stating that unpriced quotations
      could begin on the OTC Bulletin Board on the Company's Common Stock and that
      if
      Network 1 decides to enter a priced quotation (bid or offer) in the Common
      Stock
      in any quotation medium, Network 1 must supplement its filing with the Form
      211.
      This supplemental filing must include the basis and factors for Network 1's
      priced quotation and be received by the NASD three days before the priced entry
      appears in a quotations medium. The symbol for the Common Stock is "BHCG."
Section
              9
Financial
                Statements and
                Exhibits
Item
              9.01
Financial
                Statements and
                Exhibits
The
      following are attached hereto and incorporated herein as Exhibits.
Exhibit
              14
Amended
                and Restated Code of Ethics
Exhibit
              16.1
Letter
                of Paritz & Company, P.A., former accountants to the
                Company
Exhibit
              99.1
Convertible
                Note
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.
BLACKHAWK
                CAPITAL GROUP BDC, INC.
Date: August
              25, 2006
By:
/s/ Craig
              A.
              Zabala
Craig A. Zabala
Chief
              Executive Officer