UNITED STATES ~~SECURITIES AND EXCHANGE COMMISSION~~

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~~Pursuant ofto ~~Report~~Section 13 ~~(Date~~or ~~of earliest event reported~~15(d)~~: January 3, 2006~~

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): June 30, 2006

MAGSTAR TECHNOLOGIES, INC.

(Exact name of registrant as specified in its charter)

Minnesota	0-1561	041-~~1561~~0780999	~~41-0780999~~
(State of or other jurisdiction of incorporation)		(Commission File Number)	(I.R.S. Employer Identification No.)
(State of or other jurisdiction	(Commission	(I.R.S. Employer
410 11th Avenue South, Hopkins, MN			55343
of incorporation)	File Number)	Identification No.)
(Address of principal executive offices)			(zip code)
410 11th Avenue South, Hopkins, MN		55343
(Address of principal executive offices)		(zip code)

Registrant’s telephone number, including area code: (952) 935-6921

(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:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 51.0201. ~~Regulation~~Entry FDinto ~~Disclosure~~a Material Definitive Agreement

AsEffective ~~of January 3~~June 30, 2006, MagStar Technologies, Inc. (“the Company”) ~~has~~ ~~appointed~~entered ~~Duane~~into R.an ~~Bryngelson~~amendment asof ~~Chief~~its ~~Operating~~credit ~~Officer~~agreement ofwith US Bank (“the ~~Company~~Bank”). ~~Mr.~~ ~~Bryngelson~~The amendment ~~formerly~~reduces ~~served as~~ the ~~Vice President~~interest ofrate ~~Operations~~that ~~for~~ the Company~~. The~~ ~~Company~~is ~~has~~charged ~~also~~by ~~appointed~~150 ~~Ted A. Colvin as the Vice President of~~basis ~~Sales and Marketing~~points, ~~replacing~~from ~~Kirby~~Prime ~~Bayerle,~~Rate ~~who~~plus ~~resigned~~2% to ~~pursue~~Prime ~~other interests. Mr.~~Rate ~~Colvin~~plus ~~was~~0.5% ~~formerly~~and increased the ~~Sales~~borrowing ~~and~~base ~~Product~~limitation ~~Manager~~of ~~for~~ the Company’s ~~Quickdraw~~eligible ~~Conveyor~~accounts ~~product~~receivable ~~line. Both~~from 80% ~~David~~to ~~E. Helgerson~~85%, ~~Chief~~along ~~Technology Officer,~~with ~~and~~some ~~Jon~~restrictions L.on ~~Reissner,~~the ~~Secretary,~~inclusion ~~President,~~of ~~and~~inventory ~~Chief~~in ~~Executive~~the ~~Officer~~borrowing base. In addition, ~~continue~~certain tochanges ~~serve~~were inmade ~~their~~to ~~current~~the ~~roles~~Company’s financial covenants.

~~SIGNATURES~~Item 9.01 Financial Statements and Exhibits

~~Pursuant~~(a) Not ~~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 thereunto duly authorized~~applicable.

	MAGSTAR TECHNOLOGIES, INC.
Dated: January 9, 2006	By	/s/ Jon L. Reissner
		Jon L. Reissner
	Its: President and Chief Executive Officer

(b) Not applicable.

2(c) Not applicable.

(d)

Exhibit 10.1 —

First Amendment To Second Amended And Restated Credit Agreement made and entered into as of June 30, 2006, by and between the Company and U.S. Bank National Association

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 thereunto duly authorized.

		MAGSTAR TECHNOLOGIES, INC.


Dated: June 30, 2006	By	/s/ Joseph A. Petrich
		Joseph A. Petrich
		Its: Chief Financial Officer

Exhibit Index

Exhibit		Description
10.1		First Amendment To Second Amended And Restated Credit Agreement made and entered into as of June 30, 2006, by and between the Company and U.S. Bank National Association

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