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 1934

                         Date of Report: April 24, 2006

                               Shelron Group, Inc.
                               -------------------
               (Exact name of registrant as specified in charter)

                                    Delaware
                                    --------
                 (State or other jurisdiction of incorporation)

          0-31176                                             04-2965425
------------------------                              --------------------------
(Commission File Number)                                   (IRS Employer
Identification No.)


29 Broadway, New York, New York                                            10006
--------------------------------------------------------------------------------
(Address of principal executive offices)                              (Zip Code)



Registrant's telephone number, including area code: 212-836-4041

<PAGE>

Item 1.01.     Entry into a Material Definitive Agreement.

      Shelron Group, Inc. (the "Registrant")  previously  disclosed in a Current
Report on Form 8-K filed with the Securities and Exchange  Commission on January
5, 2005 that it entered into a  subscription  agreement,  dated as of January 4,
2005 (the "Subscription Agreement"),  with Joseph Corso (the "Investor") for the
sale and purchase of 18,500,000  shares of the  Registrant's  common stock,  par
value  $0.001 per share  (the  "Shares"),  for an  aggregate  purchase  price of
$1,500,000.

      On April 24,  2006,  the  Registrant  and the  Investor  executed a letter
agreement in which the Investor (i) clarified that agreements executed after the
Subscription  Agreement,  which extended the time period by which the Registrant
was to register the Shares (the  "Extension  Letters")  were  amendments  to the
Subscription  Agreement;  (ii) eliminated the penalties that may be triggered or
accrue for failure to register the Shares  within the time period  prescribed in
the  Extension  Letters;  and  (iii)  irrevocably  agreed  not  to  rescind  the
Subscription  Agreement or demand  repayment  of the  purchase  price due to the
Registrant's  failure to register the Shares as contemplated in the Subscription
Agreement.

Item 9.01.  Financial Statements and Exhibits

(a) Financial Statements of Businesses Acquired

None

(b)  Pro Forma Financial Information

None

(c) Shell Company Transactions

None

(d) Exhibits

10.6  Letter  Agreement,  dated April 24, 2006, by and between  Joseph Corso and
      Shelron Group, Inc.

10.7  Extension letter, dated May, 10, 2005, by Joseph Corso.

10.8  Extension letter, dated June, 7, 2005, by Joseph Corso

<PAGE>

                                   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.

                                    SHELRON GROUP, INC.


                                    By: /s/ Eliron Yaron
                                        ----------------------------------------
                                        Name:  Eliron Yaron
                                        Title: Chairman and Director

Dated: May 8, 2006
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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 1934

                         Date of Report: April 24, 2006

                               Shelron Group, Inc.
                               -------------------
               (Exact name of registrant as specified in charter)

                                    Delaware
                                    --------
                 (State or other jurisdiction of incorporation)

          0-31176                                             04-2965425
------------------------                              --------------------------
(Commission File Number)                                   (IRS Employer
Identification No.)

29 Broadway, New York, New York                                            10006
--------------------------------------------------------------------------------
(Address of principal executive offices)                              (Zip Code)

Registrant's telephone number, including area code: 212-836-4041
Item 1.01.     Entry into a Material Definitive Agreement.

      Shelron Group, Inc. (the "Registrant")  previously  disclosed in a Current
Report on Form 8-K filed with the Securities and Exchange  Commission on January
5, 2005 that it entered into a  subscription  agreement,  dated as of January 4,
2005 (the "Subscription Agreement"),  with Joseph Corso (the "Investor") for the
sale and purchase of 18,500,000  shares of the  Registrant's  common stock,  par
value  $0.001 per share  (the  "Shares"),  for an  aggregate  purchase  price of
$1,500,000.

      On April 24,  2006,  the  Registrant  and the  Investor  executed a letter
agreement in which the Investor (i) clarified that agreements executed after the
Subscription  Agreement,  which extended the time period by which the Registrant
was to register the Shares (the  "Extension  Letters")  were  amendments  to the
Subscription  Agreement;  (ii) eliminated the penalties that may be triggered or
accrue for failure to register the Shares  within the time period  prescribed in
the  Extension  Letters;  and  (iii)  irrevocably  agreed  not  to  rescind  the
Subscription  Agreement or demand  repayment  of the  purchase  price due to the
Registrant's  failure to register the Shares as contemplated in the Subscription
Agreement.

Item 9.01.  Financial Statements and Exhibits

(a) Financial Statements of Businesses Acquired

None

(b)  Pro Forma Financial Information

None

(c) Shell Company Transactions

None

(d) Exhibits

10.6  Letter  Agreement,  dated April 24, 2006, by and between  Joseph Corso and
      Shelron Group, Inc.

10.7  Extension letter, dated May, 10, 2005, by Joseph Corso.

10.8  Extension letter, dated June, 7, 2005, by Joseph Corso
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.

                                    SHELRON GROUP, INC.

                                    By: /s/ Eliron Yaron
                                        ----------------------------------------
                                        Name:  Eliron Yaron
                                        Title: Chairman and Director

Dated: May 8, 2006