--------------------------------------------- ------------------ -------------------- ------------------------- PURCHASER AGGREGATE SHARES OF COMMON NUMBER OF SHARES --------- ---------- ----------------- ---------------- PURCHASE PRICE STOCK PURCHASED ISSUABLE UPON -------------- --------------- ------------- CONVERSION OF ------------- WARRANT ------- --------------------------------------------- ------------------ -------------------- ------------------------- --------------------------------------------- ------------------ -------------------- ------------------------- Michael Bloch $70,000 2,000,000 1,000,000 --------------------------------------------- ------------------ -------------------- ------------------------- Jonathan Lowenthal $17,500 500,000 250,000 --------------------------------------------- ------------------ -------------------- ------------------------- Wayne Schoenmakers $3,500 100,000 50,000 --------------------------------------------- ------------------ -------------------- ------------------------- Thomas Barrett $7,000 200,000 100,000 --------------------------------------------- ------------------ -------------------- ------------------------- Wm Goatley Revocable Trust $8,750 250,000 125,000 --------------------------------------------- ------------------ -------------------- ------------------------- Richard Crose $17,500 500,000 250,000 --------------------------------------------- ------------------ -------------------- ------------------------- Robert Gillman $17,500 500,000 250,000 --------------------------------------------- ------------------ -------------------- ------------------------- Timothy Broder $17,500 500,000 250,000 --------------------------------------------- ------------------ -------------------- ------------------------- Thomas Allen Piscula $17,500 500,000 250,000 --------------------------------------------- ------------------ -------------------- ------------------------- Raymond Dunwoodle $17,500 500,000 250,000 --------------------------------------------- ------------------ -------------------- ------------------------- Fred Matulka $17,500 500,000 250,000 --------------------------------------------- ------------------ -------------------- ------------------------- Michael Melson $17,500 500,000 250,000 --------------------------------------------- ------------------ -------------------- ------------------------- Oscar Greene Jr $17,500 500,000 250,000 --------------------------------------------- ------------------ -------------------- ------------------------- Robert Rowley $17,500 500,000 250,000 --------------------------------------------- ------------------ -------------------- ------------------------- Trey Investments, LLP $5,250 150,000 75,000 --------------------------------------------- ------------------ -------------------- ------------------------- William Cail $875 25,000 12,500 --------------------------------------------- ------------------ -------------------- ------------------------- Kenneth Meyer $35,000 1,000,000 500,000 --------------------------------------------- ------------------ -------------------- ------------------------- Frank Davis $7,000 200,000 100,000 --------------------------------------------- ------------------ -------------------- ------------------------- Holger Pfeiffer $8,750 250,000 125,000 --------------------------------------------- ------------------ -------------------- ------------------------- Bellano Family Trust $10,500 300,000 150,000 --------------------------------------------- ------------------ -------------------- ------------------------- Calder Capital, Inc. $17,500 500,000 250,000 --------------------------------------------- ------------------ -------------------- ------------------------- Ulrich Nusser $8,750 250,000 125,000 --------------------------------------------- ------------------ -------------------- ------------------------- Sat Paul Dewan $10,500 300,000 150,000 --------------------------------------------- ------------------ -------------------- ------------------------- Thomas Weiss $8,750 250,000 125,000 --------------------------------------------- ------------------ -------------------- ------------------------- Marianne Issels $8,750 250,000 125,000 --------------------------------------------- ------------------ -------------------- ------------------------- Stefan Muller $17,500 500,000 250,000 --------------------------------------------- ------------------ -------------------- ------------------------- Annette Bohmer $17,500 500,000 250,000 --------------------------------------------- ------------------ -------------------- ------------------------- Hendrik Paulus $17,500 500,000 250,000 --------------------------------------------- ------------------ -------------------- ------------------------- Robert Flaster $7,000 200,000 100,000 --------------------------------------------- ------------------ -------------------- ------------------------- William Harner $5,250 150,000 75,000 --------------------------------------------- ------------------ -------------------- ------------------------- Veronica Kristi Prenn $52,500 1,500,000 750,000 --------------------------------------------- ------------------ -------------------- ------------------------- Ryan Cornelius $52,500 1,500,000 750,000 --------------------------------------------- ------------------ -------------------- ------------------------- Jurgen Popp $52,500 1,500,000 750,000 --------------------------------------------- ------------------ -------------------- ------------------------- Robert Smith $10,500 300,000 150,000 --------------------------------------------- ------------------ -------------------- ------------------------- Gerd Weger $350,000 10,000,000 5,000,000 --------------------------------------------- ------------------ -------------------- ------------------------- Christiane Loberbauer $8,750 250,000 125,000 --------------------------------------------- ------------------ -------------------- ------------------------- Fred Schmitz $175,000 5,000,000 2,500,000 --------------------------------------------- ------------------ -------------------- ------------------------- Glenn Jensen $105,000 3,000,000 1,500,000 --------------------------------------------- ------------------ -------------------- ------------------------- Laurence Straus $10,500 300,000 150,000 --------------------------------------------- ------------------ -------------------- ------------------------- General Research GMBH $17,500 500,000 250,000 --------------------------------------------- ------------------ -------------------- ------------------------- AK Asset Management $35,000 1,000,000 500,000 --------------------------------------------- ------------------ -------------------- ------------------------- Benjamin Eichholz $52,500 1,500,000 750,000 --------------------------------------------- ------------------ -------------------- ------------------------- Amaltea SA $17,500 500,000 250,000 --------------------------------------------- ------------------ -------------------- ------------------------- Clarence Keck Jr $5,250 150,000 75,000 --------------------------------------------- ------------------ -------------------- -------------------------

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

~~--------------------------------------------- ------------------ -------------------- ------------------------- Jorn Follmer $17~~Washington,~~500~~ DC 500,000 250,000 --------------------------------------------- ------------------ -------------------- ------------------------- Mattias Graeve $8,750 250,000 125,000 --------------------------------------------- ------------------ -------------------- ------------------------- Jerome Niedfelt $10,500 300,000 150,000 --------------------------------------------- ------------------ -------------------- ------------------------- John Niedfelt $7,000 200,000 100,000 --------------------------------------------- ------------------ -------------------- ------------------------- Global Equity Trading & Finance, Ltd. $17,500 500,000 250,000 --------------------------------------------- ------------------ -------------------- ------------------------- Global Equity Trading & Finance, Ltd. $70,000 2,000,000 1,000,000 --------------------------------------------- ------------------ -------------------- ------------------------- Film & Music Entertainment, Inc. $35,000 1,000,000 500,000 --------------------------------------------- ------------------ -------------------- ------------------------- Red Giant Productions, Inc. $17,500 500,000 250,000 --------------------------------------------- ------------------ -------------------- ------------------------- --------------------------------------------- ------------------ -------------------- ------------------------- TOTAL $1,579,375 45,125,000 22,562,500 --------------------------------------------- ------------------ -------------------- -------------------------20549

FORM 8-KCURRENT REPORT

Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest reported) June 27, 2007

IELEMENT CORPORATION

_______________________________________________

(Exact name of registrant as specified in its charter)

NEVADA 000-29331 76-0270295

________________________________________________________________________

(State or other jurisdiction of incorporation) (Commission File Number) (IRS Employer Identification No.)

17194 Preston Road, Suite 102, PMB 341, Dallas, TX 75248

______________________________________________________________________

(Address of principal executive offices) (Zip Code)

Registrant's telephone number, including area code: (214) 254-3425

________________________________________________________________________

(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 Instructions 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 5.02(b) Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers

On June 27, 2007 Ken Willey resigned from the Board of Directors. There were no disagreements between Mr. Willey and the Company.

Item 9.01. Financial Statements and Exhibits.

---------- ----------------------------------

(a) Not applicable.

(b) Not applicable.

(d) Exhibits. Not applicable

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: June 27, 2007

IELEMENT CORPORATION

By: /s/Ivan Zweig

Name: Ivan Zweig

Title: Chief Executive Officer

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