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

~~December~~January 194, ~~2007~~2008

~~Intrepid~~INTREPID ~~Technology~~TECHNOLOGY & ~~Resources~~RESOURCES, ~~Inc~~INC.

(Exact Name of Registrant as Specified in Charter)


Idaho	00-27845	84-1304106
(State or other jurisdiction	(Commission	(IRS Employer
of incorporation)	File Number)	Identification No.)


501 West Broadway, Suite 200, Idaho Falls, Idaho	83402
(Address of principal executive offices)	(Zip code)

Registrant’s telephone number, including area code:	(208) 529-5337

~~ITEM~~Not ~~5.02 (c). Appointment and Change in Principal Officers~~Applicable

~~For~~(Former ~~Calendar~~Name ~~Year~~or ~~2008,~~Former ~~the Board of Directors has appointed D. Lynn Smith as Chairman~~Address, ~~William~~If R.Changed ~~Myers~~Since asLast Vice Chairman, Jacob D. Dustin as President and Chief Operating Officer, Robert V. Searcy, a non-director, as Secretary and Treasurer, and Bradley J. Frazee and Donald J. Kenoyer, also non-directors, as Vice Presidents. These individuals will assume the responsibilities of the offices indicated effective January 1, 2008. Report)

~~D. Lynn~~Check ~~Smith,~~the aappropriate ~~director~~box ~~since~~below ~~2002,~~if ~~and chairman of~~ the ~~audit~~Form ~~committee~~8-K ~~has~~filing ~~over~~is ~~thirty~~intended ~~years~~to ~~experience~~simultaneously assatisfy athe ~~Certified~~filing ~~Public~~obligation ~~Accountant~~of ~~and~~the ~~partner~~registrant inunder ~~Galusha,~~any ~~Higgins & Galusha, P.C,~~ of ~~Idaho~~the ~~Falls,~~following Idaho, a regional public accounting firm. Experience includes audit, tax, individual and business litigation support and individual and business planning with a special emphasis on agriculture and agribusiness.provisions:

~~William~~Written R.communications ~~Myers,~~pursuant ato ~~director~~Rule ~~since~~425 ~~2002,~~under ~~has for~~ the ~~past~~Securities ~~five~~Act ~~years~~(17 ~~been~~CFR ~~president of Myers Associates International, Inc~~230., which provides technical and management consulting, business development and construction management for domestic and international firms. He has extensive business development and strategic planning background with architectural engineering, research and development, construction, environmental science and startup entrepreneurial firms in both national and international settings.425)

~~Jacob~~Soliciting D.material ~~Dustin~~pursuant ~~has served as a director, vice president, secretary and treasurer of the Company since 2002. From 1999~~ to ~~2000~~Rule ~~Bechtel~~14a-12 ~~Corporation~~under at the ~~Idaho~~Exchange ~~National~~Act ~~Engineering~~(17 ~~and~~CFR ~~Environmental Laboratory employed him~~240. From 1995 to 1999 he was an employed by Parsons, an architectural and engineering firm. In 1995 he retired from the United States Air Force with the rank of Colonel. He brings thirty years of experience in operational and engineering leadership positions managing large, diverse groups of engineers, scientists and technicians and programs with annual budgets in excess of $100M.14a-12)

~~Robert~~Pre-commencement V.communications ~~Searcy~~pursuant ~~has served as the Company’s Comptroller since 2006. Prior~~ to ~~joining~~Rule ~~Intrepid,~~14d-2(b) ~~Mr.~~under ~~Searcy served for 17 years as~~ the ~~Chief~~Exchange ~~Financial Officer of Idaho Pacific Holdings, Inc~~Act (17 CFR 240.~~, one of the largest dehydrated potato food processors in North America. He holds a B.S. degree in Accounting and Business from Brigham Young University.~~14d-2(b))

~~Bradley~~Pre-commencement J.communications ~~Frazee~~pursuant ~~has~~to ~~served~~Rule as13e-4(c) ~~the~~under Company’s Alternative Energy and Biofuels Division Manager since 2002. He brings over 20 years of project and management and operations experience with corporations such as Westinghouse, Lockheed Martin, and Bechtel to the ~~Company.~~Exchange ~~Brad has been instrumental over his career in bringing major chemical and nuclear systems through construction and into production~~Act (17 CFR 240. 13e-4(c))

Donald J. Kenoyer has served as the Company’s Vice President, Engineering/Construction Management since 2006. Mr. Kenoyer 20 years of experience in project engineering and planning including cost estimating, scheduling, project controls, contracts, design, and field engineering. His prior experience includes over 10 years with the former MorrisonMI-~~Knudsen~~174620 ~~Corporation~~v1 ~~working multi~~0437150-~~million dollar construction projects for a variety of commercial, industrial, and governmental clients nationwide.~~0201

2Item 1.01 Entry into a Material Definitive Agreement.

~~SIGNATURES~~On March 23, 2007, Intrepid Technology & Resources, Inc., an Idaho corporation (the “Company”) entered into a Securities Purchase Agreement (the “Purchase Agreement”) with YA Global Investments, LP (f/k/a Cornell Capital Partners, LP and hereinafter, “YA Global”) pursuant to which YA Global agreed to purchase $3,500,000 principal amount of the Company’s nine percent (9%) secured convertible debentures, of which $2,500,000 was purchased on March 23, 2007 and $1,000,000 of which was purchased on May 21, 2007. In connection with the Purchase Agreement, the Company issued to YA Global warrants to purchase 15,000,000 shares at an exercise price equal to $0.055 per share. On January 2, 2008, the Company and YA Global entered into a Letter Agreement pursuant to which the Company agreed to reduce the exercise price of such warrants to $0.01 per share in exchange for YA Global exercising such 15,000,000 warrants at an aggregate exercise price of $150,000 on or about the date of the Letter Agreement. Pursuant to the Letter Agreement, the adjustment to the exercise price of the warrants shall not cause a ratchet or repricing of any other outstanding convertible securities, options or warrants of the Company. A copy of the Letter Agreement is attached hereto as Exhibit 10.1.

~~Pursuant~~Item to9.01. ~~the~~Financial ~~requirements~~Statements ofand ~~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~~Exhibits.

Date: December 19, 2007	INTREPID TECHNOLOGY & RESOURCES, INC.
	By: /s/ Jacob D. Dustin
	Name: Jacob D. Dustin
	Title: President and Director

(a) Not applicable

(b) Not applicable

(d) Exhibit No. Description:


Exhibit	Description	Location
Exhibit 10.1	Letter Agreement dated January 2, 2008, by and between Intrepid Technology & Resources, Inc. and YA Global Investments, LP	Provided herewith

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


Date: January 4, 2008	INTREPID TECHNOLOGY & RESOURCES, INC.


	By: /s/ Jacob D. Dustin_________________
	Name: Jacob D. Dustin
	Title: President, COO

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