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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">SECURITIES
      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</strong></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">CURRENT
      REPORT</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">PURSUANT
      TO SECTION 13 OR 15(d) OF THE</font></div>
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      EXCHANGE 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:</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">April
      26,
      2006</font></div>
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              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><strong><font size="5">ARIEL
                WAY, INC.</font></strong></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">Florida</font></div>
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              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">8000
                Towers Crescent Drive, Suite 1220 <br></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Vienna,
                VA 22182</font></div>
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              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font size="2">(Address
                of principal executive offices) (Zip
                Code)</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">&#160;</div>
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            <td width="70%" style="border-bottom: black thin solid;">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font size="2">(703)
                918-2430</font></div>
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            <td width="15%">&#160;</td>
            <td width="70%">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font size="2">(Registrant's
                telephone number, including area
                code)</font></div>
            </td>
            <td width="15%">&#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">&#160;</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">Check
      the
      appropriate box below if the Form 8-K 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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            <td align="left" style="width: 27pt;"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Wingdings">o</font></td>
            <td align="left">
              <div 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 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
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              <div 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
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: -72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
      5.02</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Departure
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      Principal Officers </strong></font></div>
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    <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">As
      of
      April 24, 2006, the Company has determined that it will not be able to continue
      its relationship with Ms. </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Voula
      Kanellias as its Chief Financial Officer. Ms. Kanellias had previously informed
      the company of her departure; however she had left open the possibility of
      continuing her relationship with the Company.</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"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item&#160;8.01
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    <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
      Company&#8217;s subsidiary, dbsXmedia, Inc. a technology and services provider for
      secure global communications solutions, has entered into a three year contract,
      which commenced on July 1, 2005, with Avnet, Inc. to provide business television
      network infrastructure and technology to allow migration to IP services over
      time. The new contract allows Avnet to distribute traditional corporate
      communications and newer IP programming to its global network of offices
      utilizing dbsXmedia&#8217;s satellite, wireless and terrestrial network capabilities.
      Although the contract is based on utilization and has no fixed minimum or
      maximum amounts, the Company believes the minimum revenues to be derived from
      the Contract over its three year term to be $275,000.</font></div>
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      April
      21, 2006, the Company&#8217;s subsidiary dbsXmedia, Inc. received a letter with a
      Notice of Default </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">pursuant
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      ("dbsXmedia&#8221;) and Loral Skynet Network Services, Inc. ("Skynet") stating that:
      dbsXmedia is currently in arrears with regard to payment for services rendered
      pursuant to the Agreement with Skynet in the amount of $540,112.50 (the "Current
      Outstanding Debt"). dbsXmedias failure to pay the Current Outstanding Debt
      constitutes a material default under Section 3(b) of the Agreement. The letter
      shall serve as written notice of payment past due and notice of a material
      default of the Agreement. Skynet demands that dbsxmedia effect immediate payment
      of the full mount of the Current Outstanding Debt. If dbsXmedia fails to pay
      the
      Current Outstanding Debt within three (3) business days of the date hereof,
      i.e,
      5:00 P.M., EDT, Wednesday, 26 April, 2006, Skynet shall have the right to
      terminate the Agreement upon delivery of written notice. In such event, Skynet
      shall avail itself of all remedies to which it is entitled, including, but
      not
      limited to, the assessment and collection of termination </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">charges
      pursuant to Section 3 (Term and Termination) of the Agreement. Moreover, by
      </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">delivery
      of the notice and any action taken in connection herewith, Skynet does not
      waive
      its rights and remedies under the Agreement and any other agreements to which
      dbsXmedia and Skynet are parties, including without limitation the right to
      collect amounts owed by dbsXmedia to Skynet in addition to the amount set forth
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    <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 requirements of the Securities Exchange Act of 1934, the Registrant
      has
      duly caused this report to be signed on its behalf by the undersigned thereunto
      duly authorized.</font></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>
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          <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: ">ARIEL
              WAY,
              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>
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          <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;Arne
              Dunhem</font></td>
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              <hr style="COLOR: black" align="left" noshade size="2" width="80%"><font size="2">Name:
              Arne Dunhem</font></td>
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            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">Title:
              President and Chief Executive Officer</font></td>
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{"company-data": {"conformed-name": "ARIEL WAY INC", "cik": "0001145254", "assigned-sic": "6794", "irs-number": "650983277", "state-of-incorporation": "FL", "fiscal-year-end": "0930"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-50051", "film-number": "06786122"}, "business-address": {"street1": "8000 TOWERS CRESCENT DRIVE,SUITE 1220", "city": "VIENNA", "state": "VA", "zip": "22182", "phone": "(703) 918-2420"}, "mail-address": {"street1": "8000 TOWERS CRESCENT DRIVE,SUITE 1220", "city": "VIENNA", "state": "VA", "zip": "22182"}, "former-company": [{"former-conformed-name": "ARIELWAY", "date-changed": "20050815"}, {"former-conformed-name": "NETFRAN DEVELOPMENT CORP", "date-changed": "20010718"}]}
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:
April
      26,
      2006
ARIEL
                WAY, INC.
(Exact
                Name of Registrant as Specified in Charter)
Florida
0-50051
65-0983277
(State
                of Incorporation)
(Commission
                File Number )
(IRS
                Employer Identification No.)
8000
                Towers Crescent Drive, Suite 1220
Vienna,
                VA 22182
(Address
                of principal executive offices) (Zip
                Code)
(703)
                918-2430
(Registrant's
                telephone number, including area
                code)
Check
      the
      appropriate box below if the Form 8-K 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))
Item
      5.02
Departure
      of Directors or Principal Officers; Election of Directors; Appointment of
      Principal Officers
As
      of
      April 24, 2006, the Company has determined that it will not be able to continue
      its relationship with Ms.
Voula
      Kanellias as its Chief Financial Officer. Ms. Kanellias had previously informed
      the company of her departure; however she had left open the possibility of
      continuing her relationship with the Company.
Item 8.01
      Other Events.
The
      Company's subsidiary, dbsXmedia, Inc. a technology and services provider for
      secure global communications solutions, has entered into a three year contract,
      which commenced on July 1, 2005, with Avnet, Inc. to provide business television
      network infrastructure and technology to allow migration to IP services over
      time. The new contract allows Avnet to distribute traditional corporate
      communications and newer IP programming to its global network of offices
      utilizing dbsXmedia's satellite, wireless and terrestrial network capabilities.
      Although the contract is based on utilization and has no fixed minimum or
      maximum amounts, the Company believes the minimum revenues to be derived from
      the Contract over its three year term to be $275,000.
On
      April
      21, 2006, the Company's subsidiary dbsXmedia, Inc. received a letter with a
      Notice of Default
pursuant
      to Teleport Service Agreement dated 21 April 2005 between dbsXmedia. Inc.
      ("dbsXmedia") and Loral Skynet Network Services, Inc. ("Skynet") stating that:
      dbsXmedia is currently in arrears with regard to payment for services rendered
      pursuant to the Agreement with Skynet in the amount of $540,112.50 (the "Current
      Outstanding Debt"). dbsXmedias failure to pay the Current Outstanding Debt
      constitutes a material default under Section 3(b) of the Agreement. The letter
      shall serve as written notice of payment past due and notice of a material
      default of the Agreement. Skynet demands that dbsxmedia effect immediate payment
      of the full mount of the Current Outstanding Debt. If dbsXmedia fails to pay
      the
      Current Outstanding Debt within three (3) business days of the date hereof,
      i.e,
      5:00 P.M., EDT, Wednesday, 26 April, 2006, Skynet shall have the right to
      terminate the Agreement upon delivery of written notice. In such event, Skynet
      shall avail itself of all remedies to which it is entitled, including, but
      not
      limited to, the assessment and collection of termination
charges
      pursuant to Section 3 (Term and Termination) of the Agreement. Moreover, by
delivery
      of the notice and any action taken in connection herewith, Skynet does not
      waive
      its rights and remedies under the Agreement and any other agreements to which
      dbsXmedia and Skynet are parties, including without limitation the right to
      collect amounts owed by dbsXmedia to Skynet in addition to the amount set forth
      above.
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 thereunto
      duly authorized.
ARIEL
              WAY,
              INC.
By:
/s/ Arne
              Dunhem
Name:
              Arne Dunhem
Title:
              President and Chief Executive Officer
Date:
                April 26, 2006