<html>
  <head>
    <title>
</title>
</head>
  <body bgcolor="#ffffff">
    <div>&#160;</div>
    <div>
      <hr style="MARGIN-TOP: -5px; COLOR: #000000" noshade size="4">
      <hr style="MARGIN-TOP: -10px; COLOR: #000000" noshade size="1">
    </div>
    <div><br>
      <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>UNITED
        STATES</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>SECURITIES
        AND EXCHANGE COMMISSION</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>WASHINGTON,
        DC 20549</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: 12pt; FONT-FAMILY: Times New Roman"><strong>FORM
        8-K</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="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>CURRENT
        REPORT PURSUANT</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>TO
        SECTION 13 OR 15(D) OF THE</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>SECURITIES
        EXCHANGE ACT OF 1934</strong></font><br></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="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date
        of
        report (date of earliest event reported): </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>March
        14, 2006</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.</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: 18pt; FONT-FAMILY: Times New Roman"><strong>LIFE
        PARTNERS HOLDINGS, 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">(</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Exact
        Name of Registrant as Specified in Its Charter</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">)</font><br></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">Texas</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">(State
        of
        incorporation)</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%">

            <tr>
              <td valign="top" width="40%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">0-7900</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">(Commission
                  File Number)</font></div>
              </td>
              <td valign="top" width="40%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">74-2962475</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">(I.R.S.
                  Employer ID no.)</font></div>
              </td>
            </tr>
            <tr>
              <td valign="top" width="40%">&#160;</td>
              <td valign="top" width="40%">&#160;</td>
            </tr>
            <tr>
              <td valign="top" width="40%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">204
                  Woodhew</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">Waco,
                  Texas</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">(Address
                  of Principal Executive Offices)</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
              </td>
              <td valign="top" width="40%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">76712</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">(Zip
                  Code)</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div 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">Issuer&#8217;s
        telephone number, including area code: 254-751-7797</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="justify"><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>
      <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">
        <div style="MARGIN-LEFT: 30pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
          <table cellpadding="0" cellspacing="0" width="90%">

              <tr>
                <td align="justify" valign="top" width="4%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Wingdings">o</font></div>
                </td>
                <td align="justify" valign="top" width="64%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><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>
                </td>
              </tr>
              <tr>
                <td align="justify" valign="top" width="4%">&#160;</td>
                <td align="justify" valign="top" width="64%">&#160;</td>
              </tr>
              <tr>
                <td align="justify" valign="top" width="4%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Wingdings">o</font></div>
                </td>
                <td align="justify" valign="top" width="64%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><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>
              </tr>
              <tr>
                <td align="justify" valign="top" width="4%">&#160;</td>
                <td align="justify" valign="top" width="64%">&#160;</td>
              </tr>
              <tr>
                <td align="justify" valign="top" width="4%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Wingdings">o</font></div>
                </td>
                <td align="justify" valign="top" width="64%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><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="justify" valign="top" width="4%">&#160;</td>
                <td align="justify" valign="top" width="64%">&#160;</td>
              </tr>
              <tr>
                <td align="justify" valign="top" width="4%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Wingdings">o</font></div>
                </td>
                <td align="justify" valign="top" width="64%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><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>
              </tr>

          </table>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 12pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div><br>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
          </div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
      </div><br>
      <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: 12pt; 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>Section&#160;2
        - Financial Information</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
        4.02. Non-Reliance on Previously Issued Financial Statements or a Related
        Audit
        Report or Completed Interim 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: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        staff
        of the Division of Corporation Finance of the Securities and Exchange Commission
        (&#8220;SEC&#8221;) performed a periodic review of our Form 10-KSB for the year ended
        February 28, 2005, and Forms 10-QSB for the quarters ended May 31, August
        31,
        and November 30, 2005. In response to comments raised during the review,
        on
        March&#160;14, 2006, management and the Audit Committee determined that - due
        solely to errors in presentation - readers may not rely upon our unaudited
        consolidated cash flow statements for the periods ended August 31 and November
        30, which were included in our Forms 10-QSB for the periods then ended. The
        restatements do not affect the carrying values of our assets or liabilities
        or
        our revenues or income for the periods nor do the restatements change our
        previously reported net cash flows. The other financial statements covered
        in
        the reviewed reports are not affected and are reliable.</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">Management
        and the Audit Committee reached such conclusions following their evaluation
        of
        the SEC staff&#8217;s comments and through consultations with its independent auditor,
        Murrell Hall McIntosh &amp; Co., PLLP. The error in presentation in the August
        31, 2005 cash flow statement (for the six months then ended) related to the
        treatment of life settlements that we purchased for our own account. The
        accounting treatment applicable to settlement purchases requires that we
        write
        down the purchase price to the cash surrender value of the underlying policies.
        Based on this treatment, for the period ended August 31, 2005, the difference
        between the settlement purchase price ($1,175,529) and the booked value
        ($555,505) was expensed ($(620,024)), as &#8220;Policy acquisition expense&#8221;) on the
        statement of income, and the book value of the settlements during the period
        ($555,505) was recorded as an asset (&#8220;Investments in policies&#8221;) on the balance
        sheet. We correctly presented these items in the balance sheet and income
        statement as of and for the period ended August 31, 2005. In the cash flow
        statement for the period ended August 31, 2005, we recorded the book value
        ($555,505) as &#8220;Investments in policies&#8221; under the &#8220;Cash Flows from Investing
        Activities&#8221; heading. </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
        the
        cash flow statement for the period ended November 30, 2005, we changed the
        presentation to record the purchase price ($1,175,892) as &#8220;Investments in
        policies&#8221; under the &#8220;Cash Flows from Investing Activities&#8221; heading and the
        expense amount ($(620,387)) as &#8220;Policy acquisition expense&#8221; under the &#8220;Cash
        Flows from Operating Activities&#8221; heading. This change in presentation affected
        the &#8220;Net cash provided by operating activities&#8221; (increased by $620,387, the
&#8220;Policy acquisition expense amount&#8221;) and Net cash used in investing activities
        (decreased by $1,175,892, the &#8220;Investments in policies amount&#8221;), but did not
        affect the &#8220;Net Increase (Decrease) in Cash and Cash Equivalents&#8221; or the &#8220;Cash
        and Cash Equivalents&#8221; at the beginning and of the period. </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Management
        and the Audit Committee have concluded that we should restate the cash flow
        statement for the period ended August 31, 2005, to match the presentation
        used
        in the cash flow statement for the period ended November 30, 2005.</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">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
          </div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
        <div>&#160;</div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        error
        in presentation in the November 30, 2005 cash flow statement (for the nine
        months then ended) related to the treatment of unrealized losses in our funds
        investments. In the cash flow statements for the periods ended May 31 and
        August
        31, 2005, we presented our &#8220;Investment in income funds&#8221; at its cost and include
        another line item for &#8220;Unrealized loss in marketable securities&#8221;, both under the
        heading &#8220;Cash Flows from Investing Activities&#8221;. The netting of these two numbers
        would correlate with the changes in &#8220;Investments in securities&#8221; presented in the
        balance sheet over the periods presented. In the cash flow statement for
        the
        period ended November 30, 2005, we moved the &#8220;Unrealized loss in marketable
        securities&#8221; amount from the heading &#8220;Cash Flows from Investing Activities&#8221; to
        the heading &#8220;Cash Flows from Operating Activities&#8221;, in an attempt to respond to
        an SEC comment. &#8220;Investment in income funds&#8221;, recorded at cost, remained under
        the heading &#8220;Cash Flows from Investing Activities&#8221;. The effect of the change was
        to reduce &#8220;Net cash provided by operating activities&#8221; and to increase &#8220;Net cash
        used in investing activities&#8221;. The change did not affect the &#8220;Net Increase
        (Decrease) in Cash and Cash Equivalents&#8221; or the &#8220;Cash and Cash Equivalents&#8221; at
        the beginning and the end of the period. Management and the Audit Committee
        have
        concluded that we should restate the cash flow statement for the period ended
        November 30, 2005, to combine the amounts for &#8220;Investment in income funds&#8221; and
        for &#8220;Unrealized loss in marketable securities&#8221; to disclose the net cash change
        in &#8220;Investments in income funds&#8221; under the heading &#8220;Cash Flows from Investing
        Activities&#8221;. </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">We
        expect
        to file the two restated cash flow statements as soon as practicable.
</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><br>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
          </div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
      </div><br>
      <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>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 and 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>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
        <table align="center" bgcolor="#ffffff" border="0" cellpadding="0" cellspacing="0" width="100%">

            <tr valign="top" bgcolor="#ffffff">
              <td width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">&#160;Date:&#160;March
                15, 2006 </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: ">Life
                Partners
                Holdings, 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>&#160;</td>
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">By:&#160;&#160;</font></td>
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">/s/&#160;Nina
                Piper</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">Nina
                Piper</font></td>
            </tr>
            <tr valign="top" bgcolor="#ffffff">
              <td colspan="2"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">&#160;</font></td>
              <td>
                <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">Principal
                  Accounting Officer</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div 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">
          <div id="GLFTR" style="WIDTH: 100%" align="left">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
          </div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    </div>
  </body>
</html>
{"company-data": {"conformed-name": "LIFE PARTNERS HOLDINGS INC", "cik": "0000049534", "assigned-sic": "6199", "irs-number": "742962475", "state-of-incorporation": "TX", "fiscal-year-end": "0228"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-07900", "film-number": "06687988"}, "business-address": {"street1": "204 WOODHEW", "city": "WACO", "state": "TX", "zip": "76710", "phone": "8003685569"}, "mail-address": {"street1": "204 WOODHEW", "city": "WACO", "state": "TX", "zip": "76710"}, "former-company": {"former-conformed-name": "IGE INC", "date-changed": "19991110"}}
UNITED
        STATES
SECURITIES
        AND EXCHANGE COMMISSION
WASHINGTON,
        DC 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):
March
        14, 2006
.
LIFE
        PARTNERS HOLDINGS, INC.
(
Exact
        Name of Registrant as Specified in Its Charter
)
Texas
(State
        of
        incorporation)
0-7900
(Commission
                  File Number)
74-2962475
(I.R.S.
                  Employer ID no.)
204
                  Woodhew
Waco,
                  Texas
(Address
                  of Principal Executive Offices)
76712
(Zip
                  Code)
Issuer's
        telephone number, including area code: 254-751-7797
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):
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 2
        - Financial Information
Item
        4.02. Non-Reliance on Previously Issued Financial Statements or a Related
        Audit
        Report or Completed Interim Report
The
        staff
        of the Division of Corporation Finance of the Securities and Exchange Commission
        ("SEC") performed a periodic review of our Form 10-KSB for the year ended
        February 28, 2005, and Forms 10-QSB for the quarters ended May 31, August
        31,
        and November 30, 2005. In response to comments raised during the review,
        on
        March 14, 2006, management and the Audit Committee determined that - due
        solely to errors in presentation - readers may not rely upon our unaudited
        consolidated cash flow statements for the periods ended August 31 and November
        30, which were included in our Forms 10-QSB for the periods then ended. The
        restatements do not affect the carrying values of our assets or liabilities
        or
        our revenues or income for the periods nor do the restatements change our
        previously reported net cash flows. The other financial statements covered
        in
        the reviewed reports are not affected and are reliable.
Management
        and the Audit Committee reached such conclusions following their evaluation
        of
        the SEC staff's comments and through consultations with its independent auditor,
        Murrell Hall McIntosh & Co., PLLP. The error in presentation in the August
        31, 2005 cash flow statement (for the six months then ended) related to the
        treatment of life settlements that we purchased for our own account. The
        accounting treatment applicable to settlement purchases requires that we
        write
        down the purchase price to the cash surrender value of the underlying policies.
        Based on this treatment, for the period ended August 31, 2005, the difference
        between the settlement purchase price ($1,175,529) and the booked value
        ($555,505) was expensed ($(620,024)), as "Policy acquisition expense") on the
        statement of income, and the book value of the settlements during the period
        ($555,505) was recorded as an asset ("Investments in policies") on the balance
        sheet. We correctly presented these items in the balance sheet and income
        statement as of and for the period ended August 31, 2005. In the cash flow
        statement for the period ended August 31, 2005, we recorded the book value
        ($555,505) as "Investments in policies" under the "Cash Flows from Investing
        Activities" heading.
In
        the
        cash flow statement for the period ended November 30, 2005, we changed the
        presentation to record the purchase price ($1,175,892) as "Investments in
        policies" under the "Cash Flows from Investing Activities" heading and the
        expense amount ($(620,387)) as "Policy acquisition expense" under the "Cash
        Flows from Operating Activities" heading. This change in presentation affected
        the "Net cash provided by operating activities" (increased by $620,387, the
"Policy acquisition expense amount") and Net cash used in investing activities
        (decreased by $1,175,892, the "Investments in policies amount"), but did not
        affect the "Net Increase (Decrease) in Cash and Cash Equivalents" or the "Cash
        and Cash Equivalents" at the beginning and of the period.
Management
        and the Audit Committee have concluded that we should restate the cash flow
        statement for the period ended August 31, 2005, to match the presentation
        used
        in the cash flow statement for the period ended November 30, 2005.
The
        error
        in presentation in the November 30, 2005 cash flow statement (for the nine
        months then ended) related to the treatment of unrealized losses in our funds
        investments. In the cash flow statements for the periods ended May 31 and
        August
        31, 2005, we presented our "Investment in income funds" at its cost and include
        another line item for "Unrealized loss in marketable securities", both under the
        heading "Cash Flows from Investing Activities". The netting of these two numbers
        would correlate with the changes in "Investments in securities" presented in the
        balance sheet over the periods presented. In the cash flow statement for
        the
        period ended November 30, 2005, we moved the "Unrealized loss in marketable
        securities" amount from the heading "Cash Flows from Investing Activities" to
        the heading "Cash Flows from Operating Activities", in an attempt to respond to
        an SEC comment. "Investment in income funds", recorded at cost, remained under
        the heading "Cash Flows from Investing Activities". The effect of the change was
        to reduce "Net cash provided by operating activities" and to increase "Net cash
        used in investing activities". The change did not affect the "Net Increase
        (Decrease) in Cash and Cash Equivalents" or the "Cash and Cash Equivalents" at
        the beginning and the end of the period. Management and the Audit Committee
        have
        concluded that we should restate the cash flow statement for the period ended
        November 30, 2005, to combine the amounts for "Investment in income funds" and
        for "Unrealized loss in marketable securities" to disclose the net cash change
        in "Investments in income funds" under the heading "Cash Flows from Investing
        Activities".
We
        expect
        to file the two restated cash flow statements as soon as practicable.
SIGNATURES
Pursuant
        to the requirements of the Securities and Exchange Act of 1934, the registrant
        has duly caused this report to be signed on its behalf by the undersigned
        hereunto duly authorized.
Date: March
                15, 2006
Life
                Partners
                Holdings, Inc.
By:
/s/ Nina
                Piper
Nina
                Piper
Principal
                  Accounting Officer