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): April 23, 2007

ENTRADE INC.

(Exact name of registrant as specified in its charter)

Pennsylvania

1-15303

52-2153008

(State or other jurisdiction

of incorporation)

(Commission File Number)

(I.R.S. Employer

Identification No.)


500 Central Avenue, Northfield, Illinois		60093
(Address of principal executive offices)		(Zip Code)

Registrant’s telephone number, including area code: (847) 441-6650

Not applicable

(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 414a-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. 2.03

Creation of a Direct Financial Obligation or an Obligation Under an Off-Balance Sheet Arrangement of a Registrant

On April 19, 2007, Entrade Inc. (the “Company”), through its wholly owned subsidiary Nationwide Auction Systems, Inc. (“Nationwide”), agreed with Axle Capital, LLC (“Axle”) to amend the existing loan agreements between Axle and Nationwide (the “Existing Loan Agreements”) to provide for an additional $11,225,000 loan from Axle to Nationwide (the “New Loan”). The loan would mature in 5 years, would carry an interest rate of 15% per annum, and would be secured by all existing collateral provided to Axle under the Existing Loan Agreements. In addition, Entrade agreed to issue to Axle warrants to purchase 4,000,000 shares of restricted Entrade common stock, exercisable at fair market value as of April 19, 2007. The proceeds of the New Loan are being used to fund Nationwide’s working capital needs.

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.

Date: April 24, 2007

Entrade Inc.

(Registrant)

/s/ Peter R. Harvey

Peter R. Harvey

President and Chief Executive Officer

ENTRADE INC 8-K