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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">UNITED
        STATES</font></div>
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        AND EXCHANGE COMMISSION</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">Washington,
        D.C. 20549</font></div>
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        8-K</font></div>
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        Written communications pursuant to Rule 425 under the Securities Act (17
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        Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
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        under Item 7.01 - &#8220;Regulation FD Disclosure&#8221; of Form 8-K. Such information,
        including the exhibit attached hereto, is furnished pursuant to Item 2.02
        and
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        Section 18 of the Securities Exchange Act of 1934, as amended (the &#8220;Exchange
        Act&#8221;), or otherwise subject to the liabilities of that Section. The information
        in this Current Report on Form 8-K shall not be deemed incorporated by reference
        into any filing under the Securities Act of 1933, as amended (the &#8220;Securities
        Act&#8221;), or the Exchange Act regardless of any general incorporation language in
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        announcing operating results for the fiscal quarter ended September 30, 2005.
        The press release is furnished as Exhibit 99.1 and incorporated by reference
        in
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        Current Report is also being furnished under Item 7.01 - &#8220;Regulation FD
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        information in this Item 7.01 of this Current Report is also being furnished
        under Item 2.02 - &#8220;Results of Operations and Financial Condition&#8221; of Form 8-K.
        Such information, including the exhibit attached hereto, is furnished pursuant
        to Item 7.01 and shall not be deemed &#8220;filed&#8221; for any purpose, including for the
        purposes of Section 18 of the Exchange Act, or otherwise subject to the
        liabilities of that Section. The information in this Current Report on Form
        8-K
        shall not be deemed incorporated by reference into any filing under the
        Securities Act or the Exchange Act regardless of any general incorporation
        language in such filing.</font></div>
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        November 15, 2005, the Company issued a press release announcing operating
        results for the fiscal quarter ended September 30, 2005. The text of the
        press
        release is attached hereto as Exhibit 99.1, and is incorporated by reference
        herein.</font></div>
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        Exhibits</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
        The
        following is a complete list of exhibits filed as part of this Report. Exhibit
        numbers correspond to the numbers in the exhibit table of Item 601 of Regulation
        S-K.</font></div>
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                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Exhibit
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                  Release of SAN Holdings, Inc. dated November 15,
                  2005</font></div>
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        has
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        duly authorized.</font></div>
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              <td width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
              <td width="49%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
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              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
              <td colspan="2"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SAN
                HOLDINGS, INC.</font></td>
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            <tr valign="top" bgcolor="#ffffff">
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;<br>&#160;</font></td>
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;<br>&#160;</font></td>
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;<br>&#160;</font></td>
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              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date:&#160;November
                15, 2005</font></td>
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">By:&#160;&#160;</font></td>
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">/s/&#160;Robert
                C. Ogden</font></td>
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              <td colspan="2"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Robert
                C. Ogden, <br>Vice President, Chief Financial Officer and
                Secretary</font></td>
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{"company-data": {"conformed-name": "SAN HOLDINGS INC", "cik": "0000799097", "assigned-sic": "3572", "irs-number": "840907969", "state-of-incorporation": "CO", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-16423", "film-number": "051207306"}, "business-address": {"street1": "9800 MT PYRAMID COURT", "street2": "SUITE 130", "city": "ENGLEWOOD", "state": "CO", "zip": "80112", "phone": "3036603933"}, "mail-address": {"street1": "9800 MT PYRAMID COURT", "street2": "SUITE 130", "city": "ENGLEWOOD", "state": "CO", "zip": "80112"}, "former-company": [{"former-conformed-name": "CITADEL ENVIRONMENTAL GROUP INC", "date-changed": "19961129"}, {"former-conformed-name": "CITADEL ASSET MANAGEMENT LTD", "date-changed": "19920703"}]}
UNITED
        STATES
SECURITIES
        AND EXCHANGE COMMISSION
Washington,
        D.C. 20549
FORM
        8-K
CURRENT
        REPORT
Pursuant
        to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date
        of
        Report: November 15, 2005
SAN
        Holdings, Inc.
(Exact
        name of registrant as specified in its charter)
Colorado
0-16423
84-0907969
(State
                  or other jurisdiction of incorporation)
(Commission
                  File Number)
(IRS
                  Employer Identification Number)
9800
        Pyramid Court, Suite 130, Englewood, CO 80112
(Address
        of Principal Executive Offices) (Zip Code)
(303)
        660-3933
Registrant's
        telephone number, including area code
(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
        2.02 Results of Operations and Financial Condition.
The
        information in this Item 2.02 of this Current Report is also being furnished
        under Item 7.01 - "Regulation FD Disclosure" of Form 8-K. Such information,
        including the exhibit attached hereto, is furnished pursuant to Item 2.02
        and
        shall not be deemed "filed" for any purpose, including for the purposes of
        Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange
        Act"), or otherwise subject to the liabilities of that Section. The information
        in this Current Report on Form 8-K shall not be deemed incorporated by reference
        into any filing under the Securities Act of 1933, as amended (the "Securities
        Act"), or the Exchange Act regardless of any general incorporation language in
        such filing.
On
        November 15, 2005, SAN Holdings, Inc. (the "Company") issued a press release
        announcing operating results for the fiscal quarter ended September 30, 2005.
        The press release is furnished as Exhibit 99.1 and incorporated by reference
        in
        this Current Report on Form 8-K. The information in this Item 2.02 of this
        Current Report is also being furnished under Item 7.01 - "Regulation FD
        Disclosure" of Form 8-K.
Item
        7.01 Regulation FD Disclosure.
The
        information in this Item 7.01 of this Current Report is also being furnished
        under Item 2.02 - "Results of Operations and Financial Condition" of Form 8-K.
        Such information, including the exhibit attached hereto, is furnished pursuant
        to Item 7.01 and shall not be deemed "filed" for any purpose, including for the
        purposes of Section 18 of the Exchange Act, or otherwise subject to the
        liabilities of that Section. The information in this Current Report on Form
        8-K
        shall not be deemed incorporated by reference into any filing under the
        Securities Act or the Exchange Act regardless of any general incorporation
        language in such filing.
On
        November 15, 2005, the Company issued a press release announcing operating
        results for the fiscal quarter ended September 30, 2005. The text of the
        press
        release is attached hereto as Exhibit 99.1, and is incorporated by reference
        herein.
Item
        9.01 Financial Statements and Exhibits.
(c)
        Exhibits
The
        following is a complete list of exhibits filed as part of this Report. Exhibit
        numbers correspond to the numbers in the exhibit table of Item 601 of Regulation
        S-K.
Exhibit
                  No.
Description
99.1
Press
                  Release of SAN Holdings, Inc. dated November 15,
                  2005
SIGNATURES
Pursuant
        to the requirements of the Securities Exchange Act of 1934, the Registrant
        has
        duly caused this Report to be signed on its behalf by the undersigned, hereunto
        duly authorized.
SAN
                HOLDINGS, INC.
Date: November
                15, 2005
By:
/s/ Robert
                C. Ogden
Robert
                C. Ogden,
Vice President, Chief Financial Officer and
                Secretary