SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549

~~Washington,~~Form ~~D.C.~~8-K Current ~~20549~~Report Pursuant to Section 13 or 15(d) of the Securities Act of 1934

~~Form~~Date ~~8-K~~of Report: September 10, 2007

Current Report Pursuant to Section 13 or 15(d) of the Securities Act of 1934
Date of Report: June 28, 2007
ATLANTIS BUSINESS DEVELOPMENT CORPORATION

(Exact Name of Registrant as Specified in its Charter)

(Exact Name of Registrant as Specified in its Charter)

Nevada	0-16286	95-4082020
(State or other jurisdiction of incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

6302 Mesedge Drive Colorado Springs, CO 80919
(Address of principal executive offices)

Colorado Springs, CO 80919

(Address of principal executive offices)

Registrant's telephone number, including area code: 719-598-2469

(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:

[ ] 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))

Section 48 -Other ~~Matters Related to Accountants and Financial Statements~~Events

Item 48.0201 ~~Non-Reliance~~Other ~~on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review~~Events

OnThe ~~June~~Company ~~28,~~held ~~2007~~a ~~the~~special ~~Board~~meeting of ~~Directors~~shareholders ~~determined, based~~ on aSeptember ~~recommendation of its independent auditors~~10, ~~that~~2007. ~~its financial statements for~~ Of the ~~period ended December 31~~299,052 ~~2006,~~issued ~~2005~~ and ~~2004~~outstanding ~~will~~shares ~~need~~of tothe ~~be restated. The~~ Company's ~~Board of~~common ~~Directors~~stock, ~~has determined that certain of its disclosures and treatment of~~187,033 ~~certain accounting transactions~~ were ~~not~~present ~~sufficient~~or tovoted ~~comply~~their ~~with~~shares ~~auditing~~by ~~and reporting standards under the Investment Company Act of 1940~~proxy. ~~Therefore,~~A ~~the Company~~quorum ~~has~~having ~~undertaken~~been ~~to revise its disclosure controls and procedures and is in the process of taking steps to restate its financial statements from the years ended December 31~~met, ~~2004, December 31, 2005 and December 31, 2006, and~~ the ~~quarterly~~following ~~financial~~items ~~statements~~were ~~for~~voted ~~the~~upon ~~interim period up until March 31, 2007. The Company will file amended reports on Form 10K~~ and ~~10Q for the periods effected since December 31, 2004.~~ passed:

1. The following directors were elected to serve until the next annual meeting:

Director	For	Against	Abstain
Tim DeHerrera	185,771	924	338
Gerald Jacoby	186,606	83	344
Frederick Ganem	186,606	83	344

2. Bagell, Josephs, Levine & Company, LLC was appointed as the Company's independent auditors for the coming year. Shares voted in favor: 187,025; shares voted against: 4; shares abstained: 4.

3. The Board of Directors recommendation to withdraw the Company's election to be treated as a business development company was approved. Shares voted in favor: 185,570; shares voted against: 339; shares abstained: 1,124.

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.

ATLANTIS BUSINESS DEVELOPMENT CORPORATION

~~June~~September 2819, 2007

Date Tim DeHerrera

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