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) ~~May~~ 11June 24, 2011

Game Trading Technologies, Inc.

(Exact Name of Registrant as Specified in Charter)

Delaware	333-141521	20-5433090
(State or Other Jurisdiction	(Commission	(IRS Employer
of Incorporation)	File Number)	Identification No.)

10957 McCormick Road, Hunt Valley, Maryland	21031
(Address of Principal Executive Offices)	(Zip Code)

Registrant’s telephone number, including area code: (410) 316-9900

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:

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 12.0104 ~~Entry~~Triggering ~~into~~Events That Accelerate or Increase a ~~Material~~Direct ~~Definitive~~Financial ~~Agreement~~Obligation or an Obligation under an Off-Balance Sheet Arrangement.

~~On May 12, 2011,~~ Game Trading Technologies, Inc., (the “Company”) and its wholly owned subsidiary, Gamers Factory, Inc. (“Gamers” and collectively with the Company, the “Borrower”), previously entered into ~~the~~an ~~second amendment (the “Second Amendment”) to the~~ amended and restated loan agreement, dated November 23, 2010 (the “Amended Loan Agreement”), as amended on January 28, 2011 (the “First Amendment”) and as amended on May 12, 2011 (the "Second Amendment" and together with the Amended Loan Agreement and the First Amendment, the “Loan Agreement”) with Bank of America, N.A (the “Bank”).

~~The~~On ~~Second~~June ~~Amendment provides~~24, ~~among other things~~2011, ~~that (i)~~ the ~~credit~~Borrower ~~limit~~received ~~(x)~~a isletter ~~currently~~dated $3June 23,~~858,285~~ ~~and~~2011 ~~will~~from ~~increase~~Bank ~~upon~~pursuant ~~certain~~to ~~events~~which asthe ~~set~~Bank ~~forth~~anticipates in(and the ~~Second~~Company ~~Amendment,~~has ~~(ii~~acknowledged) that the ~~percentage~~Borrower ofwill ~~the~~fail ~~balance~~to ~~due~~comply onwith ~~Acceptable~~the ~~Receivables~~financial ~~(as~~covenants ~~defined~~set forth in the ~~Amended~~ Loan Agreement) infor ~~calculating~~ the ~~amount~~period ~~available~~tested ~~under~~as ~~revolving line~~ of ~~credit~~June to30, ~~the~~2011 because Borrower ~~has~~will ~~been~~not ~~reduced from 80% to 75%~~achieve, ~~(iii)~~for the ~~account~~period ~~balance~~tested ~~does~~as ~~not include the amount~~ of ~~any~~June ~~counterclaims~~30, or2011, ~~offsets~~either ~~which have been or may be asserted against~~ the ~~Borrower~~Funded byDebt ~~the~~to ~~account~~EBITDA ~~debtor~~Ratio (~~including~~as ~~offsets~~defined ~~for~~in ~~any~~the ~~“contra~~Loan ~~accounts”~~Agreement) ~~owed~~required by ~~the~~Section ~~Borrower~~8.3 toof the ~~account~~Loan ~~debtor~~Agreement ~~for~~or ~~goods~~the ~~purchased~~Basic byFixed ~~the~~Charge ~~Borrower~~Coverage orRatio ~~for~~(as ~~services~~defined ~~performed~~in ~~for~~ the ~~Borrower,~~Loan ~~(iv~~Agreement) ~~effective~~required ~~April~~by 1,Section ~~2011,~~8.4 of the ~~interest~~Loan ~~rate~~Agreement. isAs a ~~rate~~result, ~~per~~the ~~year~~Bank ~~equal~~informed to the ~~BBA~~Company ~~LIBOR~~that ~~Daily~~this ~~Floating~~constitutes ~~Rate plus~~ an ~~additional~~event ~~margin~~ of ~~800~~default ~~basis~~under ~~points~~Section ~~per~~9.14 ~~annum~~of ~~and~~the ~~(v)~~Loan Agreement (the ~~expiration~~“Existing ~~date~~Default”) ofand ~~the~~other ~~line~~events of ~~credit~~default ~~has~~may ~~been~~also ~~extended~~exist ~~from~~and ~~May~~are ~~21,~~not ~~2011~~waived ~~until~~under ~~August~~the ~~26,~~Loan ~~2011,~~Agreement or(together ~~such~~with ~~earlier~~the ~~date~~Existing asDefault, ~~provided in~~ the ~~Second~~“Events ~~Amendment~~of Default”).

~~The~~As ~~foregoing~~a ~~information~~result isof athe ~~summary~~occurrence of the ~~agreement~~Events ~~described~~of ~~above~~Default, iseffective ~~not complete~~immediately, ~~and~~the isBank ~~qualified~~will instop ~~its~~making ~~entirety~~any byadditional ~~reference~~credit available to the ~~full~~Borrower ~~text~~and ofwill ~~such~~not ~~agreement,~~make aany ~~copy~~additional advances under the Line of ~~which~~Credit is(as ~~attached~~defined in the Loan Agreement). All availability under the Line of Credit (as andefined ~~exhibit~~in the Loan Agreement) will be terminated immediately and the Bank reserved its right to ~~this~~collect ~~Current~~any ~~Report~~applicable ondefault ~~Form~~rate ~~8-K~~of interest, as provided under the Loan Agreement. ~~Readers~~ ~~should~~In ~~review~~addition, ~~this~~the ~~agreement~~Borrower ~~for~~will acontinue ~~complete~~to ~~understanding~~incur fees and costs in connection with the Events of Default and the ~~terms~~Line of Credit (as defined in the Loan Agreement), all of which shall be the Borrower's responsibility. Furthermore, the Bank specifically reserved the right under the Loan Agreement, from time to time without notice, to declare any and ~~conditions~~all ~~associated~~Obligations ~~with~~(as ~~this~~defined ~~transaction~~in the Loan Agreement) to be immediately due and payable.

~~Item~~While ~~5.02~~the ~~Departure~~Borrower and Bank has commenced certain negotiations concerning the Loan Agreement and the Events of ~~Directors~~Default, there can be no assurance that the Borrower and Bank will come to any agreement (either oral or ~~Principal~~written) ~~Officers;~~regarding ~~Election~~repayment, ofwaiver ~~Directors;~~and/or ~~Appointment~~modification of ~~Principal~~the ~~Officers;~~Loan ~~Compensatory~~Agreement ~~Arrangements~~and/or ofthe ~~Certain~~Events ~~Officers~~of Default.

On May 11, 2011, the board of directors of the Company appointed Thomas Wobber as a director of the Company, effective immediately. There is no understanding or arrangement between Mr. Wobber and any other person pursuant to which Mr. Wobber was selected as a director of the Company. Mr. Wobber does not have any family relationship with any director, executive officer or person nominated or chosen by us to become a director or executive officer. Mr. Wobber will serve as chairman of our audit committee and as a member of our compensation and nominating committee.

In connection with his appointment as a director, Mr. Wobber received an option to purchase 60,000 shares of the Company’s common stock at a price of $1.80 per share, the closing price of the Company’s common stock as quoted on the Over-the-Counter Bulletin Board on May 11, 2011. The options vest in three (3) equal annual installments of thirty-three and one-third percent (33 1/3%), the first installment to be exercisable on the date of grant, with an additional thirty-three and one-third percent (33 1/3%) becoming exercisable on each of May 11, 2012 and May 11, 2013, respectively. These options were issued under the Company’s Amended and Restated 2009 Incentive Stock Plan.

Mr. Wobber is currently a Senior Manager with Bertz, Hess & Co., LLC, a business and financial consulting firm based in Lancaster, PA. From 2004 to 2009, Thomas was an Audit manager and Internal Control Specialist with RSM McGladrey/McGladrey and Pullen, a member of RSM International, the sixth largest network of independent accounting, tax and consulting firms worldwide. Prior to that position, he was Senior Associate and Audit Manager with the Baltimore, Md.-based Reznick Group from 1999-2004. Mr. Wobber received his B.B.A. in accounting from Loyola College of Maryland in 1994 . Mr. Wobber is a Certified Public Accountant and is a member of the American Association of Certified Public Accountants (AICPA) and Pennsylvania Association of Certified Public Accountants (PICPA).

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit Number		Description
10.1		Second Amendment to Amended and Restated Loan Agreement, dated as of May 12, 2011, by and among Game Trading Technologies, Inc., Gamers Factory, Inc. and Bank of America, N.A.

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.

	GAME TRADING TECHNOLOGIES, INC.
Date: May 16, 2011	By:	/s/ Richard Leimbach
Date: June 29, 2011	By:	/s/ Richard Leimbach
		Richard Leimbach
		Chief Financial Officer

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