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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">U.S.
      SECURITIES AND EXCHANGE COMMISSION</font></div>
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      D.C. 20549</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">FORM
      8-K</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">CURRENT
      REPORT</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">Pursuant
      to Section 13 or 15(d) of the Securities Act of 1934</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">Date
      of
      Report (Date of earliest event reported): June 30, 2006</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">HIENERGY
      TECHNOLOGIES, INC.</font></div>
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      name of registrant as specified in its charter)</font></div>
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            </td>
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                - 32093</u></font></div>
            </td>
            <td width="1%" style="border-bottom: medium none;">&#160;</td>
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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"><u>91-2022980</u></font></div>
            </td>
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                or other jurisdiction of incorporation)</font></div>
            </td>
            <td width="1%">&#160;</td>
            <td valign="top" width="24%">
              <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">(Commission
                File Number)</font></div>
            </td>
            <td width="1%">&#160;</td>
            <td valign="top" width="24%">
              <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">(I.R.S.
                Identification No.)</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"><u>1601-B
                ALTON PARKWAY, UNIT B IRVINE, CALIFORNIA</u></font></div>
            </td>
            <td width="1%" style="border-bottom: medium none;">&#160;</td>
            <td valign="bottom" width="37%" style="border-bottom: medium none;">
              <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"><u>92606</u></font></div>
            </td>
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                of principal executive offices)</font></div>
            </td>
            <td width="1%">&#160;</td>
            <td valign="top" width="37%">
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                Code)</font></div>
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      telephone number, including area code: (949) 757-0855</font></div>
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      Applicable</u></font></div>
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      name or former address, if changed since last report)</font></div>
    <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="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><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><em>see
      </em></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">General
      Instruction A.2. below):</font></div>
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              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; 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
                230.425)</font></div>
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              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; 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>
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              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; 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>
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              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; 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><br>
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    <div>&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
          <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">HiEnergy
            Technologies, Inc. (&#8220;we&#8221;, &#8220;us&#8221; or the &#8220;Company&#8221;) files this report on Form 8-K
            to report the following:</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: 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="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: Times New Roman">On
            June
            30, 2006, we entered into a Series B Convertible Preferred Stock Purchase
            Agreement (the &#8220;Agreement&#8221;) with select accredited investors (the &#8220;Investors&#8221;)
            for the sale of Series B Convertible Preferred Stock, par value $0.001
            per share
            (the &#8220;Series B Preferred Shares&#8221;) and Series B-1 Warrants and Series B-2
            Warrants (collectively, the &#8220;Warrants&#8221;). As of July 7, 2006, Investors
            subscribed a total of $2,136,403 of the offering, and we have issued
            213.6 of
            Series B Preferred Shares, Series B-1 Warrants for the purchase of up
            to
            2,136,403 shares of our common stock and Series B-2 Warrants for the
            purchase of
            up to 1,424,269 shares of our common stock. Less commission and financing
            expenses, and including the automatic exchange of certain outstanding
            convertible notes payable plus accrued interest in the amount of $552,653,
            we
            have received a total of $1,341,483.16 in net proceeds.</font></div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#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">The
            sale
            of our Series B Preferred Shares and Warrants is a part of an offering
            to sell
            up to $5,000,000 of our Series B Preferred Shares and Warrants to accredited
            investors only. The Series B Preferred Shares and Warrants have been
            offered and
            sold to the Investors in a private placement transaction made in reliance
            upon
            exemptions from registration pursuant to Section 4(2) under the Securities
            Act
            of 1933 (the &#8220;Securities Act&#8221;) and Rule 506 of Regulation promulgated under the
            Securities Act, as amended. Each of the Investors is an accredited investor
            as
            defined in Rule 501 of Regulation D. Two of the Investors, William A.
            Nitze and
            David R. Baker, are directors of the Company. </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: Times New Roman">The
            Series B Preferred Shares are convertible into shares of our common stock
            at
            $0.30 per share (the &#8220;Conversion Price&#8221;). The Conversion Price is subject to
            downward adjustments if the event we issue or sell more common stock,
            however we
            are not required to make any adjustment to the Conversion Price upon
            (i)
            issuances of any additional shares of our common stock and warrants therefore
            in
            connection with a merger, acquisition or consolidation, (ii) issuances
            of
            additional shares of our common stock pursuant to a bona fide firm underwritten
            public offering of our securities, (iii) any issuances of warrants to
            purchase
            shares of our common stock issued pursuant to the Agreement, (iv) issuances
            of
            securities pursuant to the conversion or exercise of convertible or exercisable
            securities issued or outstanding on or prior to the date hereof or issued
            pursuant to the Agreement, (v) issuances of warrants to the placement
            agent for
            the transactions contemplated by the Agreement or in connection with
            other
            financial services rendered to us, (vi) the payments of any dividends
            on the
            Series B Preferred Stock, (vii) issuances of additional shares of our
            common
            stock in connection with license agreements, joint ventures and other
            strategic
            partnering arrangements so long as such issuances are not for the primary
            purpose of raising capital, and (viii) issuances of our common stock
            or the
            issuance or grants of options to purchase our common stock pursuant to
            the
            Company&#8217;s stock option plans and employee stock purchase plans outstanding on
            the date hereof.</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"><br><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
            Series B Preferred Shares have a liquidation preference of $10,000 per
            share.
            The Series B Holders are entitled to receive, out of any assets at the
            time
            legally available thereof and as declared by the Board of Directors,
            dividends
            at the rate of 8% per share per annum until January 1, 2007, at which
            time this
            rate will increase to 10%. If we have an effective registration statement
            for
            the sale of the common shares to be received in conversion of the Series
            B
            Preferred Shares and the closing bid price of the common stock exceeds
            $1.00 for
            a period of 20 consecutive trading days, the Series B Preferred Shares
            will
            automatically convert into shares of our common stock.</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: Times New Roman">The
            Series B-1 Warrants and Series B-2 Warrants are exercisable until June
            30, 2011
            and have exercise prices of $0.45 and $0.60, respectively the &#8220;Warrant Prices&#8221;).
            The Warrants provide the Investors with ratchet rights, whereby the exercise
            price of the Warrants will be reduced to equal the price of any new shares
            (or
            common share equivalents) sold below the Warrant Prices. Further, commencing
            one
            (1) year following the date of issuance, if (i) the traded market price
            of our
            shares of common stock is greater than the Warrant Price and (ii) a registration
            statement under the Securities Act provided for the resale of the shares
            underlying the Warrants is not then in effect, the Investors may exercise
            the
            Warrants by cashless exercise. </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: Times New Roman">Until
            approximately December 31, 2007, the Investors have a right of first
            refusal to
            participate in certain subsequent financings of the Company. This right
            of first
            refusal is not triggered by issuances of shares of our common stock&#160; in
            connection with mergers, strategic partnering arrangements, or in bona
            fide firm
            underwritten public offerings of our securities.</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: Times New Roman">In
            connection with this Agreement, on June 30, 2006, we also entered into
            a
            Registration Rights Agreement with the Investors. Under the Registration
            Rights
            Agreement, we have committed to file, within 45 days following the closing
            date,
            a &#8220;resale&#8221; registration statement covering all the shares of our common stock
            issuable upon conversion of the Series B Preferred Shares and any dividends
            payable thereon and the shares of common stock issuable upon exercise
            of
            Warrants and use its best efforts to have the registration statement
            declared
            effective within 120 days following the closing date. If we fail to register
            all
            shares issuable pursuant to this transaction within the required time,
            the
            Company must pay the Investors </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">2.0%
            for
            the first calendar month and 1.0% per calendar month thereafter (and
            not exceed
            10%) of the Investor&#8217;s initial investment in the Preferred Stock until
            cured.</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: Times New Roman">Under
            the
            Agreement, we are initially required to reserve a number of shares of
            our common
            stock sufficient to effect the conversion of all the Series B Preferred
            Shares
            and exercise of the outstanding Warrants. However, the Agreement requires
            the
            Company to obtain shareholder approval by August 31, 2006 for the filing
            of an
            amendment to our Certificate of Incorporation to increase the number
            of our
            authorized shares of common stock sufficient for us to reserve a number
            of
            shares of our common stock equal to 120% of the number of shares necessary
            to
            effect the conversion of the Series B Preferred Shares and the exercise
            of the
            Warrants. </font></div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
          <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
            <div id="FTR">
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            </div>
            <div id="PN" style="PAGE-BREAK-AFTER: always">
              <div style="WIDTH: 100%; TEXT-ALIGN: center">&#160;</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">&#160;</div>
            </div>
          </div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#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">The
            Investors have contractually agreed to restrict their ability to convert
            the
            Series B Preferred Shares and exercise the Warrants and receive shares
            of our
            common stock such that the number of shares of our common stock held
            by them and
            their affiliates after such conversion or exercise does not exceed 4.9%
            of the
            our then issued and outstanding shares of common stock.</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: Times New Roman">Burnham
            Hill Partners, a division Pali Capital, Inc. (&#8220;BHP&#8221;) acted as our placement
            agent in connection with the transaction described above. A cash fee
            equal to
            $187,267 was paid to BHP. Further, BHP and its registered assigns were
            issued
            four year warrants equal to 10% of the shares of our common stock issuable
            upon
            conversion of the Series&#160;B Preferred Shares placed through its
            efforts.</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: Times New Roman"><strong>Item
            3.02 Unregistered Sale of Equity Securities.</strong></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: Times New Roman">The
            discussion under Item 1.01 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="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: Times New Roman"><strong>Item
            3.03 Material Modification to Rights of Security Holders.</strong></font></div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#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">On
            June
            30, 2006, we filed a Certificate of Designation of the Relative Rights
            and
            Preference of the Series B Convertible Preferred Stock with the Delaware
            Department of State designating 600 shares of the Company&#8217;s preferred stock as
            Series B Convertible Preferred Stock, par value $0.001 per share (the
&#8220;Series B
            Preferred Shares&#8221;). The Series B Preferred Shares have the same rank as our
            Series A Convertible Preferred Stock and rank senior to our common stock,
            but
            are subordinate to and rank junior to our current and future indebtedness.
            </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">The
            discussion under Item 1.01 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="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: Times New Roman"><strong>Item
            5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal
            Year.</strong></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: Times New Roman">The
            discussions under Items 1.01 and 3.03 are incorporated herein by reference.
            </font></div>
        </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
        9.01. 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="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
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              <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">Exhibit
                    No.</font></div>
                </td>
                <td align="left" valign="top" width="75%">
                  <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">Description</font></div>
                </td>
              </tr>
              <tr>
                <td align="left" valign="top" width="10%">&#160;</td>
                <td align="left" valign="top" width="75%">&#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">4.1</font></div>
                </td>
                <td align="left" valign="top" width="75%">
                  <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">Certificate
                    of Designation of the Relative Rights and Preferences of the
                    Series B
                    Convertible Preferred Stock of HiEnergy Technologies,
                    Inc.</font></div>
                </td>
              </tr>
              <tr>
                <td align="left" valign="top" width="10%">&#160;</td>
                <td align="left" valign="top" width="75%">&#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>
                </td>
                <td align="left" valign="top" width="75%">
                  <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-1 Warrant</font></div>
                </td>
              </tr>
              <tr>
                <td align="left" valign="top" width="10%">&#160;</td>
                <td align="left" valign="top" width="75%">&#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">4.3</font></div>
                </td>
                <td align="left" valign="top" width="75%">
                  <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-2 Warrant</font></div>
                </td>
              </tr>
              <tr>
                <td align="left" valign="top" width="10%">&#160;</td>
                <td align="left" valign="top" width="75%">&#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">10.1</font></div>
                </td>
                <td align="left" valign="top" width="75%">
                  <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 the Series B Convertible Preferred Stock Purchase Agreement.
                    </font></div>
                </td>
              </tr>
              <tr>
                <td align="left" valign="top" width="10%">&#160;</td>
                <td align="left" valign="top" width="75%">&#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>
                </td>
                <td align="left" valign="top" width="75%">
                  <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 the Registration Rights
                    Agreement.</font></div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
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          <div style="WIDTH: 100%; TEXT-ALIGN: center">
          </div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
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      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#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">SIGNATURES</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: Times New Roman">Pursuant
        to the requirement 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="left">&#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>
            <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: ">HIENERGY
                TECHNOLOGIES, 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>
            </tr>
            <tr valign="top" bgcolor="#ffffff">
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">Date:&#160;<u>July
                7, 2006</u><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></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: "><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">/s/
                Roger W.A. Spillmann</font></font></td>
            </tr>
            <tr valign="top" bgcolor="#ffffff">
              <td colspan="2"><font style="FONT-FAMILY: " size="1">&#160;</font></td>
              <td align="left">
                <hr style="COLOR: black" align="left" noshade size="2" width="80%"><font size="2">Name:
                Roger W.A. Spillmann,</font></td>
            </tr>
            <tr valign="top" bgcolor="#ffffff">
              <td colspan="2"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">&#160;</font></td>
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">Title:
                President &amp; CEO </font></td>
            </tr>

        </table>
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{"company-data": {"conformed-name": "HIENERGY TECHNOLOGIES INC", "cik": "0001112424", "assigned-sic": "3826", "irs-number": "912022980", "state-of-incorporation": "DE", "fiscal-year-end": "0430"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-32093", "film-number": "06952414"}, "business-address": {"street1": "1601 ALTON PARKWAY", "street2": "UNIT B", "city": "IRVINE", "state": "CA", "zip": "92606", "phone": "9497570855"}, "mail-address": {"street1": "1601 ALTON PARKWAY", "street2": "UNIT B", "city": "IRVINE", "state": "CA", "zip": "92612"}, "former-company": {"former-conformed-name": "SLW ENTERPRISES INC", "date-changed": "20000419"}}
U.S.
      SECURITIES AND EXCHANGE COMMISSION
WASHINGTON,
      D.C. 20549
FORM
      8-K
CURRENT
      REPORT
Pursuant
      to Section 13 or 15(d) of the Securities Act of 1934
Date
      of
      Report (Date of earliest event reported): June 30, 2006
HIENERGY
      TECHNOLOGIES, INC.
(Exact
      name of registrant as specified in its charter)
DELAWARE
0
                - 32093
91-2022980
(State
                or other jurisdiction of incorporation)
(Commission
                File Number)
(I.R.S.
                Identification No.)
1601-B
                ALTON PARKWAY, UNIT B IRVINE, CALIFORNIA
92606
(Address
                of principal executive offices)
(Zip
                Code)
Registrant's
      telephone number, including area code: (949) 757-0855
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 (
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))
HiEnergy
            Technologies, Inc. ("we", "us" or the "Company") files this report on Form 8-K
            to report the following:
Item
            1.01 Entry into a Material Definitive Agreement.
On
            June
            30, 2006, we entered into a Series B Convertible Preferred Stock Purchase
            Agreement (the "Agreement") with select accredited investors (the "Investors")
            for the sale of Series B Convertible Preferred Stock, par value $0.001
            per share
            (the "Series B Preferred Shares") and Series B-1 Warrants and Series B-2
            Warrants (collectively, the "Warrants"). As of July 7, 2006, Investors
            subscribed a total of $2,136,403 of the offering, and we have issued
            213.6 of
            Series B Preferred Shares, Series B-1 Warrants for the purchase of up
            to
            2,136,403 shares of our common stock and Series B-2 Warrants for the
            purchase of
            up to 1,424,269 shares of our common stock. Less commission and financing
            expenses, and including the automatic exchange of certain outstanding
            convertible notes payable plus accrued interest in the amount of $552,653,
            we
            have received a total of $1,341,483.16 in net proceeds.
The
            sale
            of our Series B Preferred Shares and Warrants is a part of an offering
            to sell
            up to $5,000,000 of our Series B Preferred Shares and Warrants to accredited
            investors only. The Series B Preferred Shares and Warrants have been
            offered and
            sold to the Investors in a private placement transaction made in reliance
            upon
            exemptions from registration pursuant to Section 4(2) under the Securities
            Act
            of 1933 (the "Securities Act") and Rule 506 of Regulation promulgated under the
            Securities Act, as amended. Each of the Investors is an accredited investor
            as
            defined in Rule 501 of Regulation D. Two of the Investors, William A.
            Nitze and
            David R. Baker, are directors of the Company.
The
            Series B Preferred Shares are convertible into shares of our common stock
            at
            $0.30 per share (the "Conversion Price"). The Conversion Price is subject to
            downward adjustments if the event we issue or sell more common stock,
            however we
            are not required to make any adjustment to the Conversion Price upon
            (i)
            issuances of any additional shares of our common stock and warrants therefore
            in
            connection with a merger, acquisition or consolidation, (ii) issuances
            of
            additional shares of our common stock pursuant to a bona fide firm underwritten
            public offering of our securities, (iii) any issuances of warrants to
            purchase
            shares of our common stock issued pursuant to the Agreement, (iv) issuances
            of
            securities pursuant to the conversion or exercise of convertible or exercisable
            securities issued or outstanding on or prior to the date hereof or issued
            pursuant to the Agreement, (v) issuances of warrants to the placement
            agent for
            the transactions contemplated by the Agreement or in connection with
            other
            financial services rendered to us, (vi) the payments of any dividends
            on the
            Series B Preferred Stock, (vii) issuances of additional shares of our
            common
            stock in connection with license agreements, joint ventures and other
            strategic
            partnering arrangements so long as such issuances are not for the primary
            purpose of raising capital, and (viii) issuances of our common stock
            or the
            issuance or grants of options to purchase our common stock pursuant to
            the
            Company's stock option plans and employee stock purchase plans outstanding on
            the date hereof.
The
            Series B Preferred Shares have a liquidation preference of $10,000 per
            share.
            The Series B Holders are entitled to receive, out of any assets at the
            time
            legally available thereof and as declared by the Board of Directors,
            dividends
            at the rate of 8% per share per annum until January 1, 2007, at which
            time this
            rate will increase to 10%. If we have an effective registration statement
            for
            the sale of the common shares to be received in conversion of the Series
            B
            Preferred Shares and the closing bid price of the common stock exceeds
            $1.00 for
            a period of 20 consecutive trading days, the Series B Preferred Shares
            will
            automatically convert into shares of our common stock.
The
            Series B-1 Warrants and Series B-2 Warrants are exercisable until June
            30, 2011
            and have exercise prices of $0.45 and $0.60, respectively the "Warrant Prices").
            The Warrants provide the Investors with ratchet rights, whereby the exercise
            price of the Warrants will be reduced to equal the price of any new shares
            (or
            common share equivalents) sold below the Warrant Prices. Further, commencing
            one
            (1) year following the date of issuance, if (i) the traded market price
            of our
            shares of common stock is greater than the Warrant Price and (ii) a registration
            statement under the Securities Act provided for the resale of the shares
            underlying the Warrants is not then in effect, the Investors may exercise
            the
            Warrants by cashless exercise.
Until
            approximately December 31, 2007, the Investors have a right of first
            refusal to
            participate in certain subsequent financings of the Company. This right
            of first
            refusal is not triggered by issuances of shares of our common stock  in
            connection with mergers, strategic partnering arrangements, or in bona
            fide firm
            underwritten public offerings of our securities.
In
            connection with this Agreement, on June 30, 2006, we also entered into
            a
            Registration Rights Agreement with the Investors. Under the Registration
            Rights
            Agreement, we have committed to file, within 45 days following the closing
            date,
            a "resale" registration statement covering all the shares of our common stock
            issuable upon conversion of the Series B Preferred Shares and any dividends
            payable thereon and the shares of common stock issuable upon exercise
            of
            Warrants and use its best efforts to have the registration statement
            declared
            effective within 120 days following the closing date. If we fail to register
            all
            shares issuable pursuant to this transaction within the required time,
            the
            Company must pay the Investors
2.0%
            for
            the first calendar month and 1.0% per calendar month thereafter (and
            not exceed
            10%) of the Investor's initial investment in the Preferred Stock until
            cured.
Under
            the
            Agreement, we are initially required to reserve a number of shares of
            our common
            stock sufficient to effect the conversion of all the Series B Preferred
            Shares
            and exercise of the outstanding Warrants. However, the Agreement requires
            the
            Company to obtain shareholder approval by August 31, 2006 for the filing
            of an
            amendment to our Certificate of Incorporation to increase the number
            of our
            authorized shares of common stock sufficient for us to reserve a number
            of
            shares of our common stock equal to 120% of the number of shares necessary
            to
            effect the conversion of the Series B Preferred Shares and the exercise
            of the
            Warrants.
The
            Investors have contractually agreed to restrict their ability to convert
            the
            Series B Preferred Shares and exercise the Warrants and receive shares
            of our
            common stock such that the number of shares of our common stock held
            by them and
            their affiliates after such conversion or exercise does not exceed 4.9%
            of the
            our then issued and outstanding shares of common stock.
Burnham
            Hill Partners, a division Pali Capital, Inc. ("BHP") acted as our placement
            agent in connection with the transaction described above. A cash fee
            equal to
            $187,267 was paid to BHP. Further, BHP and its registered assigns were
            issued
            four year warrants equal to 10% of the shares of our common stock issuable
            upon
            conversion of the Series B Preferred Shares placed through its
            efforts.
Item
            3.02 Unregistered Sale of Equity Securities.
The
            discussion under Item 1.01 is incorporated herein by reference.
Item
            3.03 Material Modification to Rights of Security Holders.
On
            June
            30, 2006, we filed a Certificate of Designation of the Relative Rights
            and
            Preference of the Series B Convertible Preferred Stock with the Delaware
            Department of State designating 600 shares of the Company's preferred stock as
            Series B Convertible Preferred Stock, par value $0.001 per share (the
"Series B
            Preferred Shares"). The Series B Preferred Shares have the same rank as our
            Series A Convertible Preferred Stock and rank senior to our common stock,
            but
            are subordinate to and rank junior to our current and future indebtedness.
The
            discussion under Item 1.01 is incorporated herein by reference.
Item
            5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal
            Year.
The
            discussions under Items 1.01 and 3.03 are incorporated herein by reference.
Item
        9.01. Financial Statements and Exhibits.
Exhibit
                    No.
Description
4.1
Certificate
                    of Designation of the Relative Rights and Preferences of the
                    Series B
                    Convertible Preferred Stock of HiEnergy Technologies,
                    Inc.
4.2
Form
                    of Series B-1 Warrant
4.3
Form
                    of Series B-2 Warrant
10.1
Form
                    of the Series B Convertible Preferred Stock Purchase Agreement.
10.2
Form
                    of the Registration Rights
                    Agreement.
SIGNATURES
Pursuant
        to the requirement 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.
HIENERGY
                TECHNOLOGIES, INC.
Date:
July
                7, 2006
By:
/s/
                Roger W.A. Spillmann
Name:
                Roger W.A. Spillmann,
Title:
                President & CEO