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): ~~September~~October 2819, 2010

YOUBLAST GLOBAL, INC.

(Exact name of registrant as specified in its charter)

Delaware	000-52363	74-2820999
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(I.R.S. Employer Identification Number)

81 Greene Street, 4th Floor

New York, New York 10012

(Address of principal executive offices) (zip code)

(212) 465-3428

(Registrant's telephone number, including area code)

Copies to:

David J. Sorin, Esq.

Jedediah Ande, Esq.

SorinRoyerCooper LLC

Two Tower Center Blvd.

East Brunswick, NJ 08816

Phone: (732) 839-0400

Fax: (732) 393-1901

(Former name, 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:

[ ] 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~~ 1~~.01 Entry Into a Material Definitive Agreement.~~

OnItem ~~September 28, 2010, YouBlast Global, Inc~~3.,02 aUnregistered ~~Delaware~~Sales ~~corporation (the “Company”), amended the 16% Debenture Due November 1, 2010 (the “Debenture”) in the aggregate principal amount~~ of ~~$175,000~~Equity ~~issued to Philmore Anderson IV (the “Lender”)~~Securities. ~~The Lender currently is the Chairman of the Board of Directors and a substantial shareholder of the Company, 42.8%.~~

~~Pursuant~~See toitem ~~Amendment No~~5.02 1describing toJeffrey ~~the~~D. ~~Debenture~~Forster’s ~~(the~~employment ~~“Amendment”),~~agreement with the Company ~~incurred additional indebtedness of $28,251~~.02 No ~~increasing~~person ~~the~~received ~~aggregate~~any ~~principal~~underwriting ~~amount~~discount ~~due~~or ~~under~~commission ~~the Debenture to $154,907.20 and~~ in ~~exchange~~connection ~~for~~with ~~increasing~~ the ~~principal~~issuance ~~amount~~of ~~the~~Common ~~Company~~Stock ~~agreed to amend the Debenture as~~ described ~~below~~therein.

~~The~~Item ~~Amendment~~5.02 ~~amends~~Departure ~~the~~of ~~Debenture~~Directors asor ~~follows:~~Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

●On ~~The~~September ~~cure~~30, ~~period~~2010, ~~applicable~~the onemployment anagreement ~~event~~effective as of ~~default~~July as1, ~~described~~2010 inby ~~Section~~and 3(between YouBlast Global, Inc., a) Delaware corporation (ivthe “Company”) ofand ~~the~~Jeffrey ~~Debenture~~D. ~~(covenant~~Forster ~~defaults~~expired ~~under~~by its terms due to the ~~Debenture~~failure orto ~~other~~fulfill ~~financing~~certain ~~documents~~conditions regarding the obtainment of financing for the Company). The ~~was~~Company ~~decreased~~and ~~from~~Mr. ~~thirty~~Forster ~~(30)~~wished ~~calendar~~to ~~days~~continue totheir ~~three~~relationship and thus entered into an Executive Employment Agreement dated October 19, 2010 by and between the Company and Mr. Forster (3the “Employment Agreement”), ~~calendar~~pursuant ~~days~~to ~~after~~which ~~written~~Mr. ~~notice~~Forster towill remain the President and Chief Executive Officer of the Company. Mr. Forster is a director of the Company.

●Pursuant ~~Reduces~~to ~~amount~~the Employment Agreement, the term of ~~other~~Mr. ~~indebtedness~~Forster’s ~~which~~employment ifcommenced ~~the~~on ~~Company~~October ~~defaults~~19, 2010 and terminates on itJune 30, 2012. The Company will bepay ~~considered~~Mr. Forster an ~~event~~aggregate base annual salary of ~~default~~$240,000 ~~under~~payable monthly. Mr. Forster has agreed to defer $10,000 per month until the ~~Debenture~~Company is able to obtain financing from an independent third party. Mr. Forster will also receive shares of Common Stock, par value $~~175~~0.003 per share, as follows: (i) 666,668 shares of Common Stock upon the execution of the Employment Agreement; (ii) 1,333,332 (the “Escrow Shares”) shares of Common Stock which shall vest and be issuable in equal monthly installments until June 1, 2011; and (iii) 3,000,000 (the “Milestone Shares”) shares of Common Stock if (a) prior to ~~$100~~December 31, 2011 the Company successfully launches YouBlast Beta and (b) if prior to October 6, 2012, the Company obtains 500,000 pre-registered users of the YouBlast Product (each of (a) and (b) a “Milestone”). One half of the Milestone Shares shall be issuable upon the completion of any particular Milestone. In addition Mr. Forster shall receive (i) a housing allowance of $4,500.00 per month, (ii) vacation, personal and sick days in accordance with the Company’s policies and procedures, (iii) the right to participate in the Company’s employee benefit plans and (iv) expense reimbursement. If Mr. Forster’s employment agreement is terminated (i) for cause he shall not be entitled to any further cash payments from the Company and he shall not be entitled to any unvested Escrow Shares, (ii) without cause he shall receive (A) his base compensation for three months after the date of termination, (B) all Escrow Shares whether vested or unvested, (C) the Milestone Shares if any Milestone occurs prior to December 31, 2011 and (D) medical, dental and visions benefits for one year after the date of termination, (iii) in the event of a death or disability of Mr. Forster, his estate shall receive all accrued and unpaid base salary and all vested Escrow Shares. The Employment Agreement also prohibits Mr. Forster from competing with the Company or soliciting customers, suppliers or employees of the Company during the term of the Employment Agreement and for two years thereafter.

●The ~~Provides~~forgoing ~~that~~description itof the Employment Agreement does not purport to be complete and is anqualified ~~event~~in ofits ~~default~~entirety ifby reference to the ~~Company~~Executive ~~fails~~Employment toAgreement ~~use~~which ~~the~~is ~~proceeds~~attached as ~~described~~an inexhibit ~~the~~to ~~Amendment~~this Current Report and is incorporated into this Item by reference.

●Item ~~Upon~~5.02 anDeparture ~~event~~ of ~~default,~~Directors ~~the~~or ~~Lender~~Certain ~~must~~Officers; ~~demand~~Election ~~the~~of ~~full~~Directors; ~~payment~~Appointment of ~~any~~Certain ~~amounts~~Officers; ~~outstanding~~Compensatory ~~under~~Arrangements ~~the~~of ~~Debenture~~Certain ~~whereas in the Debenture such amounts were immediately due and payable~~Officers.

● Upon ~~any~~Mr. ~~event~~Forster’s ofappointment ~~default~~as the ~~Lender~~President ~~may~~and ~~convert~~Chief ~~the~~Executive ~~principal~~Officer, ~~amount~~Philmore ~~into~~Anderson, ~~shares~~IV ofbegan ~~the~~transitioning ~~Company’s~~from ~~common~~his ~~stock~~previous ~~(the~~position ~~“Conversion~~as ~~Right”)~~President and Chief Executive Officer to his current role as the ~~Company~~Executive ~~shall~~Chairman ~~issue~~of the ~~Lender~~Company ~~1,000,000~~and ~~shares~~in ofconnection therewith, the Company and Mr. Anderson, IV amended Mr. Anderson, IV’s ~~Common~~employment ~~Stock~~agreement ~~(the~~as ~~“Issuance~~described ~~Right”),~~herein ~~whereas~~concurrently inwith the ~~Debenture~~execution ~~the~~of ~~Conversion~~Mr. ~~Right~~Forster’s ~~was~~Employment ~~only~~Agreement. In ~~available~~connection towith the ~~Lender~~Company’s inanticipated growth, the ~~event~~Company ofdecided to employ a ~~payment~~new ~~default~~senior ~~and~~executive team with experience in positioning the ~~Issuance~~Company ~~Right~~for ~~was~~growth. Philmore ~~available~~Anderson, toIV remains with the ~~Lender~~Company ~~upon~~as the ~~occurrence~~Executive ofChairman ~~any~~and ~~other~~a ~~event~~member of ~~default~~the ~~other~~Company’s ~~than~~Board aof ~~payment default~~Directors.

●As ~~The~~a ~~conversion~~result ~~formula~~of tothe ~~calculate~~changes noted above, the ~~number~~Company ofand ~~shares~~Mr. ofAnderson, ~~Company~~IV ~~Common~~entered ~~Stock~~into ~~issuable~~Amendment ~~upon~~No. 1 to Employment Agreement (the ~~Conversion~~“Amendment”). The ~~Right~~Amendment ~~was~~is ~~changed~~effective as of October 22, 2010. Pursuant to ~~increase~~the Amendment, the ~~number~~term of ~~shares~~Mr. ofAnderson, ~~Company~~IV’s ~~Common~~employment ~~Stock~~agreement towas beextended ~~issued~~from February 18, 2012 to ~~the~~October ~~Lender.~~22, In2012, ~~the~~and ~~Amendment~~Mr. Anderson, IV’s position with the ~~number~~Company ofwas ~~shares~~changed offrom ~~Common~~President ~~Stock~~and ~~issuable~~Chief ~~upon~~Executive ~~the~~Officer ~~exercise~~to Executive Chairman. As a result of the ~~Conversion~~change ~~Right~~in ishis ~~that~~position, ~~number~~Mr. ofAnderson, ~~shares~~IV’s ofbase ~~Company~~salary ~~Common~~was ~~Stock~~decreased ~~which~~from ~~constitutes~~the acurrent ~~majority~~amount of ~~the~~$325,000 ~~shares~~to of$60,000 ~~Company~~per ~~Common~~annum. Mr. ~~Stock~~Anderson, onIV’s aposition ~~fully~~as ~~diluted~~Executive ~~basis~~Chairman ~~(assuming~~is ~~the~~not ~~conversion~~a offull ~~all~~time ~~debentures~~position and ~~the~~as ~~exercise~~such ofMr. ~~all~~Anderson, ~~warrants~~IV ~~issued~~is byallowed to engage in other business activities so long as such activities do not impair his obligations to the Company ~~prior~~and Mr. Anderson, IV continues to comply with his fiduciary duties owed to the ~~date~~Company. In all other material respects, Mr. Anderson, IV’s Employment Agreement, dated as of ~~the~~February ~~Amendment)~~18, 2009, remains in full force and effect.

The ~~foregoing~~forgoing description of the Amendment does not purport to be complete and is qualified in its entirety by reference to the Amendment~~. A~~ ~~copy~~which ofis ~~the~~attached ~~Amendment~~as isan ~~attached~~exhibit to this ~~report~~Current asReport ~~Exhibit 4.1~~ and is incorporated into this Item by reference ~~herein~~.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

See Item 1.01.

Item 2.04 Triggering Events that Accelerate or Increase a Direct Financial Obligation or an Obligation Under an Off-Balance Sheet Arrangement.

During the period beginning on March 24, 2010 and ending on August 10, 2010, the Company issued debentures (collectively the “Other Debentures” and each an “Other Debenture”) to John Thomas Bridge and Opportunity Fund, L.P., John Thomas Bridge and Opportunity Fund II, L.P. (“JTBO”) and three other investors. The Company has publicly disclosed the terms and conditions of the Other Debentures.

Pursuant to the terms of the Other Debentures, upon the occurrence of an equity or debt financing of less than $1,500,000, the Company must use fifty percent of the financing proceeds to repay each Other Debenture. The Company has concluded that its current liquidity and capital resource requirements preclude early payment of the Other Debentures and is, therefore, seeking waivers of the early payment requirement in each Other Debenture. If the Company is unable to secure such waivers, the failure to make the necessary early payments contemplated by the Other Debentures could be considered an event of default under each Other Debenture entitling the holder thereof to accelerate payments under the Other Debentures. If accelerated, (i) all amounts due under the Other Debentures shall be immediately due and payable in cash, except that the applicable holder may elect to convert all or any portion of principal amount of their Other Debenture into shares of the Company’s Common Stock and (ii) the Company shall be required to issue each holder of an Other Debenture 1,000,000 shares of the Company’s Common Stock. In addition, commencing as of September 28, 2010, the interest rate of each Other Debenture shall increase to 18% per annum.

In connection with the issuance of the Other Debenture to JTBO, the Company issued JTBO a warrant to purchase 800,000 shares of the Company’s Common Stock. If there is an event of default in the payment of the principal amount or interest due under the Other Debenture issued to JTBO, the exercise price of this warrant is decreased from $0.50 per share to $0.01 per share.

Item 9.01

Financial Statements and Exhibits.

Exhibit Number		Description
4.1		Amendment No. 1 to 16% Debenture Due November 1, 2010, issued to Philmore Anderson IV
10.1		Executive Employment Agreement, dated October 19, 2010, by and between the Company and Jeffrey D. Forster
10.2		Amendment No. 1 to Employment Agreement, dated October 22, 2010, by and between the Company and Philmore Anderson, IV

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.

	YOUBLAST GLOBAL, INC.
Dated: October 4, 2010	By:	/s/ Philmore Anderson IV
Dated: October 22, 2010	By:	/s/ Jeffrey Forster
		Name: Philmore Anderson IV
		Name: Jeffrey Forster
		Title: Executive Chairman
		Title: Chief Executive Officer

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