SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported): ~~June~~January 1824, ~~2007~~2008

(Exact Name of Registrant as Specified in Its Charter)

(State or Other Jurisdiction of Incorporation)

333-129810	20-5458472
(Commission File Number)	(IRS Employer Identification No.)
14500 Parallel Road, Suite A, Basehor, KS	66007
(Address of Principal Executive Offices)	(Zip Code)

(913) 724-4106

14500 Parallel Road, Suite A, Basehor, KS	66007
(Address of Principal Place of Executive Offices)	(Zip Code)

(913) 721-5800

(Registrant’s Telephone Number, Including Area Code)

(Former Name or Former Address, if ~~Changed~~Changes Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing ~~obligation~~obligations of the registrant under any of the following provisions (see General Instruction A.2. below):

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 1 3.0103 ~~Entry~~ ~~into~~ Material aModification ~~Material~~to ~~Definitive~~Rights ~~Agreement~~of Security Holders

OnThe ~~June 18,~~ information ~~Ethanex~~set ~~Energy,~~forth ~~Inc.~~in (the “Company”) sent written notice to Austin AECOM (“Austin”), authorizing Austin to proceed with the next phase of its work under the terms of a letter agreement between Austin and the Company, dated April 2, 2007 (the “Letter Agreement”)Item 8.01 As a result of this written authorization, the Company may incur total fees of more than $500,000 for Austin’s work under the Letter Agreement. (To date, the Company has paid Austin approximately $125,000 for its preliminary work and, prior to sending Austin the June 18 written authorization, had no obligation to proceed with further work with Austin under the Letter Agreement or otherwise.) As a result of its decision to authorize Austin to proceed with significant additional work, the Company now considers the Letter Agreement to be a material definitive agreement, and a copy of the Letter Agreement is ~~filed as Exhibit 10.1 to this Current Report on Form 8-K and is~~ incorporated herein by reference.

~~Pursuant~~Item to the Letter Agreement, Austin has agreed to provide services to the Company that will enable it to engineer, construct, commission and start up an ethanol production facility in Waltonville, Illinois 8. ~~The services to be provided~~01 Other by Austin would include planning, engineering, procurement, construction and commissioning of the proposed plant. The Letter Agreement was intended to provide the Company and Austin with a general understanding pursuant to which the parties could work together until a definitive engineer, procure and construct agreement (the “Definitive EPC Agreement”) could be negotiated and signed. Events

The ~~Letter~~ one-for-ten ~~Agreement~~reverse ~~contained~~stock ~~certain milestones~~split, ~~one~~previously ofannounced ~~which~~on ~~required~~January ~~Austin~~11, 2008 to and ~~validate~~ anticipated ~~its~~to ~~target~~be ~~price~~in ~~(+/-15%)~~effect ~~and~~on ~~schedule~~January ~~for~~22, ~~its services~~2008, ~~which~~will ~~was to~~ be ~~completed~~effective ~~by May 25~~today, January ~~2007. After that milestone was reached~~24, ~~the~~2008 ~~Company had the option to cancel the Letter Agreement~~ and ~~terminate~~our ~~the~~shares ~~relationship with Austin.~~will ~~After~~begin ~~receiving~~trading ~~the~~on ~~validated~~a ~~target price (+/~~post-~~15%)~~split ~~and schedule,~~basis. ~~the~~ In ~~Company~~ connection ~~elected to authorize Austin to proceed~~ with ~~work and to proceed toward~~ the ~~negotiation~~reverse ~~and~~stock ~~execution~~split, of the ~~Definitive~~Company ~~EPC~~has ~~Agreement~~been ~~to construct~~assigned a ~~132~~ ~~million~~new stock symbol. ~~gallons~~The ~~per~~Company's ~~year~~shares ~~denatured~~were ~~ethanol~~previously ~~facility.~~quoted ~~Construction~~on ofthe anOTC ~~ethanol~~Bulletin ~~plant~~ Board under inthe ~~Waltonville,~~stock ~~Illinois~~symbol ~~remains~~EHNX ~~subject~~and ~~to various risks, some of which~~ are ~~outside~~now ofreported ~~our~~on ~~control,~~the ~~including~~OTC ~~our~~Bulletin ~~ability to obtain adequate financing~~Board ~~and~~ under the ~~results~~new ofstock ~~Austin’s further work~~symbol EHTE.

~~Item~~No 9 fractional shares will be issued in connection with the reverse stock split and, in lieu thereof, any fractional share shall be rounded up to the nearest whole share.~~01 Financial~~ The exercise price and the number of shares of common stock issuable ~~Statements~~ under the Company’s outstanding options and ~~Exhibits~~warrants will be proportionately adjusted to reflect the reverse stock split.

(d) Exhibits

10.1 Letter Agreement, dated April 2, 2007, by and between Ethanex Energy, Inc. and Austin AECOM.

SIGNATURES

According to the requirements of the Securities Exchange Act of 1934, the ~~registrant~~Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized on January 24, 2008.

	ETHANEX ENERGY, INC.
Date: June 22, 2007	By:	/s/ Albert W. Knapp
		Name: Albert W. Knapp
		Title: Chief Executive Officer


	ETHANEX ENERGY, INC.

	By:	/s/ David J. McKittrick
		David J. McKittrick
		Executive Vice President, Chief Financial Officer

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