UNITED STATES

SECURITIES AND EXCHANGE COMMISION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant

To Section 18 or 15(d) of

the Securities Exchange Act of 1934

Date of Report (Date of earliest reported): ~~December 15~~June 20, ~~2010~~2011

MEGOLA, INC.

(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)

Nevada	000-49815	88-0492605
(State or other jurisdiction	(Commission	(I.R.S. employer
of incorporation)	File Number)	identification number)

~~704 Mara~~214 ~~St.,~~LaSalle ~~Suite 111~~Line, ~~Point Edward~~Sarnia, Ontario ~~N7V~~N7T ~~1X4~~7H5

(Address of principal executive offices) (Zip code)

(519) 336-0628

Registrant's telephone number, including area code

ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT

On ~~December~~ 8,May ~~2010~~6, ~~Megola~~2011 ~~(“Company”)~~we ~~confirmed~~entered ~~proceeds~~into ~~from~~ a ~~Securities~~ Purchase Agreement ~~entered~~for ~~into~~the onacquisition ~~November~~of 29certain Intellectual Property Rights (IP), ~~2010~~Patents, and Patents Pending with ~~Asher~~1771601 ~~Enterprises,~~ Ontario Inc. ~~(“Buyer”).~~The basic terms and conditions proposed by MGON into the agreement will include, but not be limited to, the following:

~~The~~At ~~basic parameters of~~ the ~~Agreement~~closing, ~~with~~as ~~Asher~~hereinafter ~~Enterprises~~described, Megola Inc. will ~~include,~~acquire ~~but~~and ~~not~~own bethe ~~limited~~following; toany patents, patents pending and IP Rights developed and owned by the ~~following~~Sellers as it pertains to:

A.· ~~The~~IP ~~Company~~/Manufacturing ~~and~~for the ~~Buyer~~Anti-Fire isInhibitor executing and delivering this Agreement in reliance upon the exemption from securities registration afforded by the rules and regulations as promulgated by the United States Securities and Exchange Commission (the “SEC”) under the Securities Act of 1933, as amended (the “1933 Act”);recipe

B.Immediately ~~Buyer~~following ~~desires to purchase and~~ the ~~Company desires to issue and sell~~Closing, ~~upon~~MGON ~~the~~may ~~terms~~change ~~and conditions set forth in this Agreement an 8% convertible note of~~ the ~~Company,~~name ~~in the form attached hereto as Exhibit A, in the aggregate principal amount~~ of ~~$32,500.00 (together with any note(s) issued in replacement thereof or as a dividend thereon or otherwise with respect thereto in accordance with~~ the ~~terms~~recipe ~~thereof, the “Note”), convertible into shares of common stock of the Company (the “Common Stock”), upon the terms and subject~~ to ~~the~~a ~~limitations~~MGON ~~and~~brand ~~conditions set forth in such Note~~name.

~~C. The Buyer wishes to purchase, upon the terms and conditions stated in this Agreement, such principal amount of Note as is set forth immediately below its name on the signature pages hereto~~Consideration

Upon Closing Megola Inc. will pay a consideration of MGON restricted common stock (“Stock Consideration”) of 1,000,000 shares as per Rule 144 and Megola Inc. shall issue such stock in the name of the Seller and or its assigns.

Megola will also pay a consideration of 250,000 restricted Series B Preferred shares which each Series B Preferred share having a stated value of $10.00 (ten dollars) per share. Series B Preferred shares, after the restricted holding period, can be converted at $0.10 (ten cents) to MGON common shares. Megola also retains the option to buy back any Series B Preferred shares for cash consideration of the same stated value of the Series B Preferred shares. Megola Inc. shall issue such stock in the name of the Seller and or its assigns.

The Agreement contains other terms and conditions and has been filed as an exhibit to this report. Please refer to the exhibit for additional information.

ITEM 3.02 UNREGISTERED SALES OF EQUITY SECURITIES

See above discussion

ITEM 8.01 OTHER EVENTS

~~None~~Press Release attached as Exhibit 99

ITEM 9.01 ~~FINANCIAL STATEMENTS AND~~ EXHIBITS

10.~~1 Securities~~0 Purchase Agreement with ~~Asher~~1771601 ~~Enterprises,~~Ontario Inc., dated ~~November~~May 296, ~~2010~~ 2011

~~10.2 Convertible~~99 ~~Promissory~~Press ~~Note dated November 29, 2010~~Release

SIGNATURES

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

	Megola, Inc.
	(Registrant)
Dated: December 15, 2010	By:	/s/ Joel Gardner
		Joel Gardner, President

Megola, Inc.

(Registrant)

Dated: June 20, 2011	By: /s/ Joel Gardner
	Joel Gardner, President

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