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

                                December 23, 2005

                          SENSOR SYSTEM SOLUTIONS, INC.
               (Exact Name of Registrant as Specified in Charter)


           Nevada                      0-024828                   98-0226032
(State or other jurisdiction          (Commission               (IRS Employer
      of incorporation)               File Number)           Identification No.)


45 Parker Avenue, Suite A, Irvine, California                         92618
   (Address of principal executive offices)                         (Zip code)

                                 (949) 855-6688
               Registrant's telephone number, including area code:


                                 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:

|_|   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 December 23, 2005,  Sensor System  Solutions,  Inc. (the "Company"),
entered into a Securities  Purchase Agreement with Cornell Capital Partners,  LP
("Cornell" and together with the Company, the "Parties"),  pursuant to which the
Company issued to Cornell secured convertible debentures in the principal amount
of $1,000,000 (the "Convertible Debentures"),  $800,000 of which has been funded
as of December  28, 2005 and $200,000 of which shall be funded  two (2) business
days prior to the date a registration  statement is filed with the United States
Securities and Exchange Commission.  The Convertible  Debentures are convertible
into shares of the Company's common stock, par value $0.01 ("Common Stock")

         The  Convertible  Debentures  are secured by  substantially  all of the
Company's  assets,  have a one (1) year term and accrue  interest at ten percent
(10%) per annum. Cornell is entitled, at its option, to convert, and sell all or
any part of the principal amount of the Convertible Debentures, plus any and all
accrued interest, into shares of Common Stock, at a price equal to the lesser of
(i) $0.35 or  (ii) ninety  percent (90%) of the lowest volume  weighted  average
price of the Common  Stock  during the fifteen  (15)  trading  days  immediately
preceding the date of conversion as quoted by Bloomberg, LP.

         The Company may redeem, with three (3) business  days  advance  written
notice to Cornell,  a portion or all amounts  outstanding  under the Convertible
Debentures prior to the maturity date provided that the closing bid price of the
Common Stock,  as reported by  Bloomberg,  LP, is less than $0.35 at the time of
the  redemption  notice.  The Company shall pay an amount equal to the principal
amount being redeemed plus a redemption premium equal to twenty percent (20%) of
the principal amount being redeemed,  plus accrued interest,  to be delivered to
Cornell on the third (3rd) business day after the redemption notice.

         In the event the Company exercises its right to redeem all or a portion
of the outstanding  principal  amounts plus accrued interest due and outstanding
under the  Convertible  Debentures,  Cornell shall also be entitled to receive a
warrant to purchase 100,000 shares of Common Stock for every $100,000  redeemed,
on a pro rata basis. The warrant shall be exercisable on a "cash basis" and have
an exercise price equal to $0.35 in effect at the time of issuance.  The warrant
shall have "piggy-back" and demand registration rights and shall terminate after
the five (5) year anniversary of December 23, 2005.

         On  December  23,  2005,  the  Company  issued to  Cornell a warrant to
purchase  up to 600,000  shares of Common  Stock.  This  warrant has an exercise
price of $0.2878 and shall terminate after the five (5) year  anniversary of the
date of issuance.


Item 1.02   Termination of a Material Definitive Agreement.

         On December 23, 2005, the Company entered into a Termination  Agreement
with  Cornell,  pursuant to which the Parties  terminated  that certain  Standby
Equity Distribution Agreement,  that certain Registration Rights Agreement,  and
that certain  Placement Agent  Agreement,  each dated as of October 6, 2005. The
Company  previously  issued to  Cornell  1,472,429  shares  of  Common  Stock in
connection with the Standby Equity  Distribution  Agreement and 28,571 shares of
Common Stock to Monitor  Capital,  Inc. in connection  with the Placement  Agent
Agreement  (collectively,  the "Issued Shares"). The Issued Shares have not been
cancelled and have piggy-back registration rights.

Item 3.02. Unregistered Sales of Equity Securities.

         See Item 1.01 above.

Item 9.01. Financial Statements and Exhibits.

         (a) Not applicable

         (b) Not applicable

         (c) Exhibit No. Description

<PAGE>

<TABLE>
<CAPTION>
Exhibit    Description                                                                     Location
-------    -----------                                                                     --------
<S>        <C>                                                                             <C>
Exhibit    Securities  Purchase  Agreement, dated as of  December  23,  2005,  by and      Provided herewith
 10.1      between Sensor System Solutions, Inc. and Cornell Capital Partners, LP

Exhibit    Investor Registration Rights Agreement dated as of December 23, 2005, by        Provided herewith
 10.2      and between Sensor System Solutions, Inc. and Cornell Capital Partners, LP

Exhibit    Secured Convertible Debenture, dated as of December 23, 2005, issued to         Provided herewith
 10.3      Cornell Capital Partners, LP

Exhibit    Security Agreement dated as of December 23, 2005, by and  between Sensor        Provided herewith
 10.4      System Solutions, Inc. and Cornell Capital Partners, LP

Exhibit    Warrant, dated as of December 23, 2005, issued to Cornell Capital Partners, LP  Provided herewith
 10.5

Exhibit    Insider Pledge and Escrow Agreement, dated as of December 23, 2005, by and      Provide herewith
 10.6      among Sensor System Solutions, Inc., Cornell Capital Partners, LP and David
           Gonzalez, Esq.

Exhibit    Escrow Agreement dated December 23, 2005 among Sensor System Solutions,         Provided herewith
 10.7      Inc., Cornell Capital Partners, LP and David Gonzalez, Esq.

Exhibit    Irrevocable Transfer Agent Instructions, dated as of December 23, 2005, by      Provided herewith
 10.8      and between Sensor System Solutions, Inc. and Cornell Capital Partners, LP

Exhibit    Termination Agreement dated as of December 23, 2005, by and between             Provided herewith
 10.9      Sensor System Solutions, Inc., Cornell Capital Partners, LP and Monitor
           Capital Inc.
</TABLE>


                                       3

<PAGE>

SIGNATURES

         Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended,  the  Registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.

Date: December 29, 2005                        SENSOR SYSTEM SOLUTIONS, INC.


                                               By:   /s/ Michael Young
                                                  -----------------------------
                                               Name:  Michael Young
                                               Title: Chief Executive Officer

                                       4
{"company-data": {"conformed-name": "SENSOR SYSTEM SOLUTIONS INC", "cik": "0001111872", "assigned-sic": "7389", "irs-number": "980226032", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-30573", "film-number": "06507188"}, "business-address": {"street1": "45 PARKER AVENUE, SUITE A", "city": "IRVINE", "state": "CA", "zip": "92618", "phone": "949-855-6688"}, "mail-address": {"street1": "45 PARKER AVENUE, SUITE A", "city": "IRVINE", "state": "CA", "zip": "92618"}, "former-company": {"former-conformed-name": "SPECTRE INDUSTRIES INC", "date-changed": "20000414"}}
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

                                December 23, 2005

                          SENSOR SYSTEM SOLUTIONS, INC.
               (Exact Name of Registrant as Specified in Charter)

           Nevada                      0-024828                   98-0226032
(State or other jurisdiction          (Commission               (IRS Employer
      of incorporation)               File Number)           Identification No.)

45 Parker Avenue, Suite A, Irvine, California                         92618
   (Address of principal executive offices)                         (Zip code)

                                 (949) 855-6688
               Registrant's telephone number, including area code:

                                 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:

|_|   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 December 23, 2005,  Sensor System  Solutions,  Inc. (the "Company"),
entered into a Securities  Purchase Agreement with Cornell Capital Partners,  LP
("Cornell" and together with the Company, the "Parties"),  pursuant to which the
Company issued to Cornell secured convertible debentures in the principal amount
of $1,000,000 (the "Convertible Debentures"),  $800,000 of which has been funded
as of December  28, 2005 and $200,000 of which shall be funded  two (2) business
days prior to the date a registration  statement is filed with the United States
Securities and Exchange Commission.  The Convertible  Debentures are convertible
into shares of the Company's common stock, par value $0.01 ("Common Stock")

         The  Convertible  Debentures  are secured by  substantially  all of the
Company's  assets,  have a one (1) year term and accrue  interest at ten percent
(10%) per annum. Cornell is entitled, at its option, to convert, and sell all or
any part of the principal amount of the Convertible Debentures, plus any and all
accrued interest, into shares of Common Stock, at a price equal to the lesser of
(i) $0.35 or  (ii) ninety  percent (90%) of the lowest volume  weighted  average
price of the Common  Stock  during the fifteen  (15)  trading  days  immediately
preceding the date of conversion as quoted by Bloomberg, LP.

         The Company may redeem, with three (3) business  days  advance  written
notice to Cornell,  a portion or all amounts  outstanding  under the Convertible
Debentures prior to the maturity date provided that the closing bid price of the
Common Stock,  as reported by  Bloomberg,  LP, is less than $0.35 at the time of
the  redemption  notice.  The Company shall pay an amount equal to the principal
amount being redeemed plus a redemption premium equal to twenty percent (20%) of
the principal amount being redeemed,  plus accrued interest,  to be delivered to
Cornell on the third (3rd) business day after the redemption notice.

         In the event the Company exercises its right to redeem all or a portion
of the outstanding  principal  amounts plus accrued interest due and outstanding
under the  Convertible  Debentures,  Cornell shall also be entitled to receive a
warrant to purchase 100,000 shares of Common Stock for every $100,000  redeemed,
on a pro rata basis. The warrant shall be exercisable on a "cash basis" and have
an exercise price equal to $0.35 in effect at the time of issuance.  The warrant
shall have "piggy-back" and demand registration rights and shall terminate after
the five (5) year anniversary of December 23, 2005.

         On  December  23,  2005,  the  Company  issued to  Cornell a warrant to
purchase  up to 600,000  shares of Common  Stock.  This  warrant has an exercise
price of $0.2878 and shall terminate after the five (5) year  anniversary of the
date of issuance.

Item 1.02   Termination of a Material Definitive Agreement.

         On December 23, 2005, the Company entered into a Termination  Agreement
with  Cornell,  pursuant to which the Parties  terminated  that certain  Standby
Equity Distribution Agreement,  that certain Registration Rights Agreement,  and
that certain  Placement Agent  Agreement,  each dated as of October 6, 2005. The
Company  previously  issued to  Cornell  1,472,429  shares  of  Common  Stock in
connection with the Standby Equity  Distribution  Agreement and 28,571 shares of
Common Stock to Monitor  Capital,  Inc. in connection  with the Placement  Agent
Agreement  (collectively,  the "Issued Shares"). The Issued Shares have not been
cancelled and have piggy-back registration rights.

Item 3.02. Unregistered Sales of Equity Securities.

         See Item 1.01 above.

Item 9.01. Financial Statements and Exhibits.

         (a) Not applicable

         (b) Not applicable

         (c) Exhibit No. Description
Exhibit    Description                                                                     Location
-------    -----------                                                                     --------
Exhibit    Securities  Purchase  Agreement, dated as of  December  23,  2005,  by and      Provided herewith
 10.1      between Sensor System Solutions, Inc. and Cornell Capital Partners, LP

Exhibit    Investor Registration Rights Agreement dated as of December 23, 2005, by        Provided herewith
 10.2      and between Sensor System Solutions, Inc. and Cornell Capital Partners, LP

Exhibit    Secured Convertible Debenture, dated as of December 23, 2005, issued to         Provided herewith
 10.3      Cornell Capital Partners, LP

Exhibit    Security Agreement dated as of December 23, 2005, by and  between Sensor        Provided herewith
 10.4      System Solutions, Inc. and Cornell Capital Partners, LP

Exhibit    Warrant, dated as of December 23, 2005, issued to Cornell Capital Partners, LP  Provided herewith
 10.5

Exhibit    Insider Pledge and Escrow Agreement, dated as of December 23, 2005, by and      Provide herewith
 10.6      among Sensor System Solutions, Inc., Cornell Capital Partners, LP and David
           Gonzalez, Esq.

Exhibit    Escrow Agreement dated December 23, 2005 among Sensor System Solutions,         Provided herewith
 10.7      Inc., Cornell Capital Partners, LP and David Gonzalez, Esq.

Exhibit    Irrevocable Transfer Agent Instructions, dated as of December 23, 2005, by      Provided herewith
 10.8      and between Sensor System Solutions, Inc. and Cornell Capital Partners, LP

Exhibit    Termination Agreement dated as of December 23, 2005, by and between             Provided herewith
 10.9      Sensor System Solutions, Inc., Cornell Capital Partners, LP and Monitor
           Capital Inc.
3
SIGNATURES

         Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended,  the  Registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.

Date: December 29, 2005                        SENSOR SYSTEM SOLUTIONS, INC.

                                               By:   /s/ Michael Young
                                                  -----------------------------
                                               Name:  Michael Young
                                               Title: Chief Executive Officer

                                       4