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): June 27, 2007

LION, Inc.

(Exact name of registrant as specified in its charter)

Washington	0-25159	91-2094375
(State or other jurisdiction of incorporation)	(Commission file number)	(IRS employer identification number)

4700-42^nd Ave. SW, Suite 430 Seattle, WA		98116
(Address of principal executive offices)		(Zip code)

Registrant’s telephone, including area code (206) 577-1440

N/A

(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 (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 8.01 Other Events

On June 27, 2007, LION, Inc. issued a press release announcing the formation of a Strategic Review Committee. A copy of the press release is annexed hereto as Exhibit 99.1.

Item 9.01 Financial Statements and Exhibits

(c)

Exhibits.

Exhibit No.

Description

99.1

Press release dated June 27, 2007

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.


	LION, Inc. (Registrant)


	By:		/s/ David Stedman
			David Stedman Interim Chief Executive Officer

Date: June 27, 2007

LION INC/WA 8-K