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 (Date of earliest event reported): March 9, 2005


                          Health Discovery Corporation
               (Exact name of registrant as specified in charter)


          Texas                      333-62216                  74--3002154
------------------------     ------------------------          -------------
(State of incorporation)     (Commission File Number)          (IRS Employer
                                                            Identification No.)


                             1116 S. OLD TEMPLE ROAD
                               LORENA, TEXAS 76655
               (Address of principal executive offices / Zip Code)


                                  512-583-4500
              (Registrant's telephone number, including area code)

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.

|_|  Soliciting material pursuant to Rule 14a-12 under the Exchange Act.

|_|  Pre-commencement  communications  pursuant  to  Rule  14d--2(b)  under  the
     Exchange Act.

|_|  Pre-commencement  communications  pursuant  to  Rule  13e--4(c)  under  the
     Exchange Act.

<PAGE>

Item 1.01         Entry Into a Material Definitive Agreement

On March 9, 2005,  Health  Discovery  Corporation  (the  "Company")  completed a
private  sale  of  an  aggregate  of  $2,990,000  of  common  stock  to  certain
institutional investors and individual accredited investors at an offering price
of $0.16 per share.  For every share of common stock  purchased,  each  investor
received  warrants to purchase one share of the Company's  common stock at $0.24
per share.

The Company entered into purchase  agreements with each of the investors.  Under
each  agreement,  the  Company  agreed  to  use  its  best  efforts  to  file  a
registration  statement  to register  the shares of common  stock and the shares
underlying the warrants  issued and sold to the investors by May 9, 2005, and to
use its  best  efforts  to  cause  the  registration  statement  to be  declared
effective  July 6,  2005.  The  Company  will  pay a cash  fee of  approximately
$265,000 to the placement agents for assisting the Company in this private sale.

The securities  issued in the private  placement have not been registered  under
the Securities  Act of 1933, as amended,  and until so registered the securities
may not be offered  or sold in the  United  States  absent  registration  or the
availability of an applicable exemption from registration.

This announcement is not an offer to sell securities of the Company.

Item 3.02         Unregistered Sales of Equity Securities

The shares and the  warrants  described in Item 1.01 above were offered and sold
in reliance upon exemptions from registration pursuant to Section 4(2) under the
Securities  Act of 1933, as amended,  and  Regulation D promulgated  thereunder.
Based  on the  information  provided  by each of the  investors,  all  investors
qualify as accredited investors (as defined by Rule 501 under the Securities Act
of 1933, as amended).

Pursuant to the terms of various  placement agency agreements by and between the
Company and placement  agents,  the Company issued warrants to acquire 752,812
shares of common stock to the placement agents, and or their designees, upon the
closing of the private placement in addition to the cash consideration described
in Item 1.01 above.  The warrants were issued as  consideration  for services as
the Company's placement agents in the transaction  described in Item 1.01 above.
The warrants were issued in reliance upon exemptions from registration  pursuant
to Section 4(2) under the Securities  Act of 1933, as amended,  and Regulation D
promulgated thereunder.

                                       2
<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 thereunto duly authorized.

                                    HEALTH DISCOVERY CORPORATION

Dated:  March 14, 2005              By: /s/ Stephen Barnhill
                                       ---------------------------------------
                                             Stephen Barnhill
                                             Chief Executive Officer
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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 (Date of earliest event reported): March 9, 2005

                          Health Discovery Corporation
               (Exact name of registrant as specified in charter)

          Texas                      333-62216                  74--3002154
------------------------     ------------------------          -------------
(State of incorporation)     (Commission File Number)          (IRS Employer
                                                            Identification No.)

                             1116 S. OLD TEMPLE ROAD
                               LORENA, TEXAS 76655
               (Address of principal executive offices / Zip Code)

                                  512-583-4500
              (Registrant's telephone number, including area code)

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.

|_|  Soliciting material pursuant to Rule 14a-12 under the Exchange Act.

|_|  Pre-commencement  communications  pursuant  to  Rule  14d--2(b)  under  the
     Exchange Act.

|_|  Pre-commencement  communications  pursuant  to  Rule  13e--4(c)  under  the
     Exchange Act.
Item 1.01         Entry Into a Material Definitive Agreement

On March 9, 2005,  Health  Discovery  Corporation  (the  "Company")  completed a
private  sale  of  an  aggregate  of  $2,990,000  of  common  stock  to  certain
institutional investors and individual accredited investors at an offering price
of $0.16 per share.  For every share of common stock  purchased,  each  investor
received  warrants to purchase one share of the Company's  common stock at $0.24
per share.

The Company entered into purchase  agreements with each of the investors.  Under
each  agreement,  the  Company  agreed  to  use  its  best  efforts  to  file  a
registration  statement  to register  the shares of common  stock and the shares
underlying the warrants  issued and sold to the investors by May 9, 2005, and to
use its  best  efforts  to  cause  the  registration  statement  to be  declared
effective  July 6,  2005.  The  Company  will  pay a cash  fee of  approximately
$265,000 to the placement agents for assisting the Company in this private sale.

The securities  issued in the private  placement have not been registered  under
the Securities  Act of 1933, as amended,  and until so registered the securities
may not be offered  or sold in the  United  States  absent  registration  or the
availability of an applicable exemption from registration.

This announcement is not an offer to sell securities of the Company.

Item 3.02         Unregistered Sales of Equity Securities

The shares and the  warrants  described in Item 1.01 above were offered and sold
in reliance upon exemptions from registration pursuant to Section 4(2) under the
Securities  Act of 1933, as amended,  and  Regulation D promulgated  thereunder.
Based  on the  information  provided  by each of the  investors,  all  investors
qualify as accredited investors (as defined by Rule 501 under the Securities Act
of 1933, as amended).

Pursuant to the terms of various  placement agency agreements by and between the
Company and placement  agents,  the Company issued warrants to acquire 752,812
shares of common stock to the placement agents, and or their designees, upon the
closing of the private placement in addition to the cash consideration described
in Item 1.01 above.  The warrants were issued as  consideration  for services as
the Company's placement agents in the transaction  described in Item 1.01 above.
The warrants were issued in reliance upon exemptions from registration  pursuant
to Section 4(2) under the Securities  Act of 1933, as amended,  and Regulation D
promulgated thereunder.

                                       2
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.

                                    HEALTH DISCOVERY CORPORATION

Dated:  March 14, 2005              By: /s/ Stephen Barnhill
                                       ---------------------------------------
                                             Stephen Barnhill
                                             Chief Executive Officer