UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of the Securities and Exchange Act of 1934

Date of Report (Date of earliest reported): ~~May~~March 283, ~~2007~~2008

~~VitalTrust Business~~VITALTRUST ~~Development~~BUSINESS ~~Corporation~~DEVELOPMENT CORPORATION

(Exact name of registrant as specified in charter)

Nevada	000-27277	88-0503197
(State or Other Jurisdiction of Incorporation or Organization)	(Commission File Number)	(IRS Employer Identification No.)

~~3000~~5025 ~~Bay~~W Lemon ~~Point Drive~~Street, Suite ~~910~~200

Tampa, Florida ~~33623~~ 33609

(Address of principal executive offices) (Zip Code)

Registrant's telephone number, including area code: (813) ~~865~~341-~~1120~~4602

2701 North Rocky Point Drive, Suite 910

Tampa, Florida 33607

(813) 287-5787

(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):

[ ] 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 4.02 Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review~~ 1

~~On May 28,~~Item ~~2007,~~5.02. ~~VitalTrust~~Departure ~~Business~~of ~~Development~~Directors ~~Corporation (the “Company”)~~or ~~concluded~~Principal ~~that~~Officers; ~~its~~Election ~~financial statements for the quarterly period ended March 31, 2007 should no longer be relied upon. An error was discovered subsequent to the issuance~~ of ~~the~~Directors;Appointment ~~Company's financial statements as~~ of ~~and~~Certain ~~for the quarter ended March 31, 2007, whereby management identified~~Officers; ~~that~~Compensatory ~~there~~Arrangements ~~was a misinterpretation~~ of ~~the~~ ~~closing date relating to an acquisition of a portfolio of securities that should have been included during the quarterly period ended March 31, 2007~~CertainOfficers.

~~The~~On March ~~financial~~3, ~~statements~~2008, asthe Board of ~~and~~Directors ~~for~~of VitalTrust Business Development Corporation (the ~~three~~“Company”) ~~months~~appointed ~~ended~~Stephen ~~March~~C. ~~31,~~Steckel ~~2007~~as ~~have~~senior vice president and chief ~~been~~financial ~~restated~~officer ~~to account~~of ~~for~~the ~~common~~Company. There ~~stock~~is ~~issued~~no understanding or arrangement between Mr. Steckel and ~~preferred~~any ~~stock~~other person pursuant to bewhich Mr. ~~issued~~Steckel inwas ~~exchange~~selected ~~for~~as an executive officer. Mr. Steckel does not have any family relationship with any director, executive officer or person nominated or chosen by us to become a ~~portfolio~~director ofor ~~securities~~an executive officer. [Mr. ~~The~~Steckel ~~recording~~has ofnot ~~this~~entered into any material plan, ~~transaction~~contract ~~resulted~~or arrangement in: connection with his appointment as an executive officer.]

·A ancopy ~~increase in Investments in portfolio companies~~ of the ~~$77,615,000,~~press ~~net~~release ofannouncing anMr. ~~unrealized~~Steckel’s ~~depreciation~~appointment onis ~~investment~~attached ofhereto ~~$10,455,000;~~as Exhibit 99.1

·Mr. Steckel anwas ~~increase~~previously inemployed ~~Preferred~~as ~~stock~~Vice President, Senior Relationship Manager and Credit Officer for Key Bank, Cleveland, Ohio. As Relationship Manger he was responsible for the management of middle-market under-performing loans ranging from $500,000 to be$20,000,000. ~~issued~~Prior to that Mr. Steckel was head of the Special Credits Department at National City Bank, Cleveland, Ohio, managing distressed commercial loans from $611,~~649~~000,000 ~~reflected~~to as$35,000,000. ~~temporary~~He ~~equity;~~also held positions at Weil, Gotshal, and Manges, New York, and Cantor Fitzgerald Securities, New York and Tokyo. He holds a Masters of Business Administration, Finance, University of Wisconsin-Madison, and a Bachelor of Arts, International Studies, Johns Hopkins University and is conversant in Japanese.

·Item 9.01 Financial anStatements ~~increase~~and ~~in Common stock issued of $5,000;~~Exhibits.

~~· an increase in Additional paid-in capital of $26,104,330, net of dividend payable on preferred stock of $311,670.~~Exhibits

~~This restatement~~99.1 ofPress ~~the~~Release ~~financials~~issued isMarch ~~expected to result in an increase of $10~~3,~~455,000~~ ~~to both net decrease in net assets resulting from operations and accumulated deficit~~2008.

The restated consolidated financial statements will be included in an amended Form 10-Q which is being filed simultaneously with this filing.

On June 1, 2007, the Company provided Rotenberg Meril Solomon Bertiger & Guttilla, P.C., its independent accountants, with a copy of the disclosures it is making in response to Item 4.02 on this Form 8-K, and has requested that Rotenberg Meril Solomon Bertiger & Guttilla, P.C.furnish it with a letter addressed to the Securities and Exchange Commission stating whether it agrees with the above statements as promptly as possible. Such letter is filed herewith as Exhibit 16.1.

ITEM 9.01 Financial Statements and Exhibits.

16.1 Letter on non-reliance on previously issued unaudited interim financial statements, dated June 1, 2007 from Rotenberg Meril Solomon Bertiger & Guttilla, P.C.

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.

	VitalTrust Business Development Corporation
	VITALTRUST BUSINESS DEVELOPMENT CORPORATION
Date: June 1, 2007	By:	/s/ Charles Broes
Date: March 7, 2008	By:	/s/ Alex Edwards
		Charles Broes
		Name: Alex Edwards
		Chief Executive Officer
		Title: Chief Executive Officer

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