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): November 35, 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.

~~Item~~On November 5, 2010, YouBlast Global, Inc.~~02.~~, ~~Departure~~a ofDelaware ~~Directors~~corporation or(the ~~Certain~~“Company”), ~~Officers;~~issued ~~Election~~a of16% ~~Directors;~~Debenture ~~Appointment~~Due December 31, 2010 (the “Debenture”) in the aggregate principal amount of ~~Certain~~$50,000 ~~Officers;~~to ~~Compensatory~~John ~~Arrangements~~Thomas Bridge & Opportunity Fund II, L.P. (the “Lender”). The Lender is a shareholder and debtor of ~~Certain~~the ~~Officers~~Company.

~~Effective~~Pursuant asto ofthe Debenture, on November 35, 2010, ~~YouBlast~~the ~~Global,~~Company ~~Inc.~~incurred indebtedness of $50,000. The aDebenture ~~Delaware~~is ~~corporation~~unsecured ~~(the~~and ~~“Company”),~~bears ~~appointed~~interest ~~Warren~~at C.a ~~Lau~~rate ~~and~~of ~~Joseph~~16% ~~Scharf~~per toannum, ~~serve~~payable asin ~~directors~~cash, ofand ~~the~~is ~~Company’s~~due ~~board~~on ofthe ~~directors. On~~earlier ~~November~~of 3December 31, 2010, or the ~~Company~~third ~~increased~~business day after the ~~size~~date ofon ~~its~~which ~~board~~the Company receives a financing of ~~directors~~at ~~from~~least ~~four~~$2,000,000 ~~directors~~or tomore, ~~six~~unless ~~directors~~such ~~and~~date ~~appointed~~is Mrextended or accelerated. The ~~Lau~~outstanding ~~and~~principal ~~Mr.~~amount ~~Scharf~~may tonot ~~fill~~be ~~the~~prepaid, ~~newly~~except ~~created~~in ~~vacant~~the ~~positions~~event ofthat the ~~board~~Company receives a financing of ~~directors~~at least $2,000,000.

~~Warren~~The C.Debenture ~~Lau~~contains iscustomary 57events ~~years~~of ~~old~~default, ~~and~~such ~~brings~~as ~~with~~(i) ~~him~~the ~~extensive~~failure ~~corporate~~to ~~experience. Mr.~~repay ~~Lau~~any ~~served~~principal asamount ~~the president, CEO~~ and/or ~~sole~~interest ~~director~~due ofunder ~~MetaStat,~~the ~~Inc.~~Debenture, a(ii) ~~biotechnology~~any ~~development~~material ~~company~~inaccuracy ~~since~~of ~~its~~any ~~formation~~representation inand ~~2008. From~~warranty, ~~September~~(iii) ~~2007~~failure to ~~2008,~~perform ~~Mr.~~any ~~Lau~~covenant ~~was~~or ~~the founder~~agreement, ~~president~~(iv) bankruptcy and ~~director~~insolvency ~~of BellairePharma~~events, ~~Inc. In~~(v) ~~October~~certain ~~2005,~~contractual ~~Mr.~~defaults ~~Lau~~and ~~founded~~(vi) ~~HoustonPharma,~~entry ~~Inc.,~~of ~~and~~certain ~~served~~judgments asagainst ~~its~~the ~~president~~Company; provided, ~~CEO~~however, ~~and~~that ~~director~~any ~~until~~event ~~October~~of ~~2007. Mr.~~default ~~Lau~~that ~~also~~was ~~founded~~existing ~~PharmaFrontiers~~and ~~Corp.~~continuing inprior ~~February~~to ~~2003~~this ~~and~~Debenture ~~served~~shall asnot abe ~~director~~the ~~and~~basis asfor ~~its~~an ~~president,~~event ~~CEO~~of ~~and~~default ~~treasurer~~under ~~until~~the ~~July 2004~~Debenture. ~~Mr.~~If ~~Lau~~any ~~founded~~event ~~Adventrx~~of ~~Pharmaceuticals~~default occurs, ~~Inc.~~all inoutstanding ~~1996~~principal, ~~and~~together ~~served~~with asaccrued ~~its~~and ~~president~~unpaid ~~and~~interest, ~~CEO~~shall ~~and~~become asimmediately adue ~~director~~and ~~through~~payable ~~November~~in ~~2001~~cash. ~~Previously~~Additionally, ~~Mr.~~upon ~~Lau~~an ~~was~~event aof ~~senior~~default, ~~vice-president~~the ~~for~~interest ~~international~~rate ~~institutional~~shall ~~sales~~accrue at ~~Josephthal, Lyon and Ross,~~ a ~~New~~rate ~~York Stock Exchange member investment banking and brokerage firm, where he specialized in the placement~~ of ~~biotechnology~~18% ~~issues. Mr.~~per ~~Lau graduated from Southern Methodist University~~annum.

~~There~~Upon isa nochange ~~family~~in ~~relationship~~control ~~between~~of ~~Mr.~~the ~~Lau~~Company ~~and~~(as ~~any~~defined ~~other~~in ~~executive~~the ~~officer~~Debenture), orthe ~~director~~Lender shall have the right (i) to convert the Debenture into securities of the ~~Company,~~same orclass ~~person~~and ~~nominated~~type oras ~~chosen~~those being obtained by the acquirer or (ii) to require the Company to ~~become~~repurchase anthe ~~executive~~Debenture ~~officer~~at or125% ~~director~~of the outstanding principal amount plus accrued and unpaid interest.

~~Joseph~~The ~~Scharf~~foregoing isdescription 50of ~~years~~the ~~old~~Debenture ~~and~~does ~~brings~~not ~~with~~purport ~~him~~to ~~many~~be ~~years~~complete ofand ~~experience~~is qualified in aits ~~broad~~entirety ~~range~~by ofreference ~~corporate~~to ~~and~~the ~~transactional matters~~Debenture. ~~Mr.~~A ~~Scharf~~copy ~~is currently CEO~~ of ~~Virgo Business Centers, a company that provides serviced office facilities in~~ the ~~New~~Debenture ~~York~~is ~~metropolitan~~attached ~~area. Mr.~~to ~~Scharf has held~~ this ~~position~~report ~~since~~as ~~1997. Mr.~~Exhibit ~~Scharf holds a degree in Economics from Queens College~~4. ~~Currently,~~1 heand ~~serves~~is onincorporated ~~the~~by ~~boards~~reference ~~of numerous charitable organizations~~herein.

~~There~~Item ~~is no family relationship between Mr~~2.03 ~~Scharf~~Creation ~~and any other executive officer or director~~ of ~~the~~a ~~Company,~~Direct orFinancial ~~person~~Obligation ~~nominated~~ or ~~chosen~~an byObligation ~~the~~under ~~Company~~an toOff-Balance ~~become~~Sheet anArrangement ~~executive~~of ~~officer~~a ~~or director~~Registrant.

2See 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 September 28, 2010, the Company issued debentures (collectively the “Other Debentures” and each an “Other Debenture”) to John Thomas Bridge and Opportunity Fund, L.P. and John Thomas Bridge and Opportunity Fund II, L.P. (“JTBO”), Philmore Anderson, IV, the Executive Chairman of the Company, 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 certain equity or debt financings, the Company must use a portion or all 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 such date of default, the interest rate of each Other Debenture shall increase to 18% per annum.

In connection with the issuance of the Other Debentures, the Company issued JTBO and Mr. Anderson warrants to purchase 800,000 shares and 1,000,000 shares of the Company’s Common Stock, respectively. If there is an event of default in the payment of the principal amount or interest due under the Other Debentures issued to JTBO and Mr. Anderson, the exercise price of these warrants is decreased from $0.50 per share to $0.01 per share.

Item 9.01 Financial Statements and Exhibits.

Exhibit Number		Description
4.1		16% Debenture Due December 31, 2010, issued to John Thomas Bridge & Opportunity Fund II, L.P.

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: November 8, 2010	By:	/s/ Jeffrey Forster
Dated: November 10, 2010	By:	/s/ Jeffrey Forster
		Name: Jeffrey Forster
		Title: Chief Executive Officer

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