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~~Securities Exchange ofAct ~~Report (Date~~ of ~~Earliest Event Reported): February 1, 2007~~ 1934

~~Satellite~~Date of Report ~~Security~~(Date ~~Corporation~~of earliest event reported): June 6, 2007

SATELLITE SECURITY CORPORATION

(Exact name of registrant as specified in its charter)

Nevada	000-28739	91-1903590
(State or other jurisdiction of incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

6779 Mesa Ridge Road, Suite 100

	P.O. Box 880263, San Diego, California		92168-0263
	(Address of principal executive offices)		(Zip Code)

~~San~~Registrant's telephone ~~Diego~~number, ~~California~~including ~~92121~~area code: (619) 977-1515

(Address of principal executive offices)

Registrant’s telephone number, including area code:

(877) 437-4199

(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 2 5.0402 DEPARTURE OF ~~TRIGGERING~~DIRECTORS ~~EVENTS THAT ACCELERATE~~ OR ~~INCREASE~~CERTAIN AOFFICERS; ~~DIRECT~~ELECTION ~~FINANCIAL~~OF ~~OBLIGATION~~DIRECTORS; ORAPPOINTMENT ANOF ~~OBLIGATION UNDER AN~~CERTAIN ~~OFF~~ OFFICERS; ~~BALANCE~~COMPENSATORY ~~SHEET~~ARRANGEMENTS ~~ARRANGEMENT.~~OF CERTAIN OFFICERS

~~On December 31~~Zirk Engelbrecht, ~~2006,~~the wesole ~~failed~~director, tochief ~~make~~executive anofficer ~~interest~~and ~~payment~~chief ~~in the amount of $83,178 under the~~financial ~~terms~~ officer of ~~our~~Satellite ~~outstanding~~Security ~~secured~~Corporation ~~convertible promissory notes~~ (the ~~“Notes”~~"Company")., ~~Failure~~resigned tofrom ~~make~~his position ~~the~~as ~~interest~~director ~~payment~~and ~~within~~from 10all ~~days~~offices of the ~~date~~Company ~~due~~that ishe aholds ~~triggering event giving rise to an event of default under the Notes. However, we did not~~effective ~~make~~ as ~~the interest payment within that 10 day period~~ of ~~time. We have notified representatives of~~ the ~~holder~~close of ~~the~~business ~~Notes that we failed to make the payment because we are conserving working capital, and our cash~~ on ~~hand~~June ~~is sufficient to support our operations only for the next 30 days. We are evaluating all options for securing additional capital~~6, ~~but no agreements or arrangements have been reached at this time, and no assurances can be give concerning whether we will receive additional financing or the terms of that financing~~2007.

~~These Notes were entered into in connection with a financing transaction on July 13, 2006~~At in the time ~~which we issued an aggregate~~ of ~~$3.3~~his ~~million of secured convertible promissory notes~~resignation, 21,607,465 Series A Warrants and 18,006,221 Series B Warrants to certain unrelated accredited investors, as more particularly described in our Current Report on Form 8-K filed on July 18, 2006 and the exhibits theretoMr. ~~The~~Engelbrecht ~~Amounts~~was ~~outstanding under~~ the ~~Notes~~sole ~~bear~~director ~~interest~~and atexeutive officer ~~the rate~~ of ~~10% per annum, payable on a quarterly basis. As of~~ the ~~date of this notice the amounts outstanding under the Notes aggregate to $3,468,164~~Company.

~~Failure~~Mr. Engelbrecht's toresignation ~~make~~is anot ~~mandatory interest payment results~~ in aconnection ~~breach~~with ofany ~~the~~disagreement ~~Notes,~~with ~~and gives~~ the ~~holders the~~ ~~right~~ Company to accelerate all amounts due under the Notes. Under the Notes we are also compelled to reimburse holders for their attorneys’ fees and costs of collection. Our obligation under the Notes, including the repayment obligations, are secured by a lien on ~~substantially~~any ~~all of our assets~~matter.

~~ITEM 5.02 DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS.~~ SIGNATURE

~~Effective~~Pursuant to ~~January 26,~~the ~~2007,~~requirement ~~Steven~~of ~~Hallock~~the ~~resigned~~Securities ~~his~~Exchange ~~position~~Act ~~from~~of ~~our~~1934, the registrant has ~~Board~~ duly ofcaused ~~Directors~~this report to be signed on its behalf by the undersigned there unto duly authorized.

SIGNATURES

		SATELLITE SECURITY CORPORATION
		Registrant

June 6, 2007	By:	/s/ ZIRK ENGELBRECHT
		Zirk Engelbrecht, Chief Executive Officer
		As Principal Executive Officer
		and on behalf of Registrant

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.

	SATELLITE SECURITY CORPORATION
February 1, 2007	By:	/s/ Zirk Engelbrecht
	Name:	Zirk Engelbrecht
	Title:	Chief Executive Officer

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