UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE

TO SECTION 13 OR 15(D) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported): April ~~March 12~~1, 2009

POWERSAFE TECHNOLOGY CORP.

~~(Exact Name of Registrant as Specified in Its Charter)~~--------------------------------------------------------------

~~Delaware~~(Exact name of Registrant as specified in its charter)

Delaware --------------------------------- (State or ~~Other~~ ~~Jurisdiction~~other jurisdiction of ~~Incorporation~~incorporation) 333-143645 ------------------------------- (Commission File Number) 98-0522188 ------------------------------------- (IRS Employer Identification No.)

333-143645		98-0522188
(Commission File Number)		(IRS Employer Identification No.)

1400 Coney Island Avenue, Brooklyn, NY 11230

(Address of ~~Principal~~principal ~~Executive~~executive ~~Offices, Zip Code~~offices)

(718) -951-8021

(Registrant's Telephone Number, Including Area Code)

~~Not applicable~~_____________________________

-----------------------------------------------------------------------

(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 (see General Instruction A.2. below):

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

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

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

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

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Section 5.

Corporate Governance and Management

Item 5.02. Departure of Directors or ~~Certain~~ Principal Officers; Election of Directors; Appointment of ~~Certain~~Principal Officers~~; Compensatory Arrangements of Certain Officers~~.

OnEffective ~~March 12~~as of April 1, 2009, the Board of Directors of the ~~Powersafe~~Company ~~Technology Corp., a Delaware corporation (the “Registrant”)~~ appointed ~~Steven~~Mikhail ~~Zvi Weinreb~~Leibov as a ~~director~~ ofdirector ~~the Registrant, effective immediately,~~ to serve until ~~the next annual meeting of the Registrant’s stockholders and until~~ his successor is duly appointed and qualified. ~~Mr.~~He ~~Weinreb~~acted as ~~will~~a beconsultant ~~entitled~~ to ~~$1,000~~the ~~per~~Company ~~month~~since ~~and~~February ~~834 shares of common stock per month~~2009. He will bebecome ~~entitled~~a todirector ~~$500 for each half day~~ of ~~work~~ ~~beyond~~ATI ~~the scope of customary services provided~~ as ~~a director~~well.

~~Steven~~Mikhail ~~Zvi Weinreb~~Leibov isserved as ~~currently~~Chairman aand ~~partner~~President inof WKIDT ~~Holdings,~~Telecom afrom ~~real~~December ~~estate~~2006 ~~holding~~through ~~company~~April ~~located in Lakewood New Jersey~~2008. From ~~September 1979~~ 1995 to ~~January~~2007 ~~2006,~~ Mr. ~~Weinreb~~ Leibov founded and was the ~~Chief~~CEO ~~Executive~~and ~~Officer~~Chairman of ~~Vitarroz Corporation, a Hispanic food distribution company located in Jersey City, New Jersey. From October 1999 to December 2004 he was also~~ the ~~Chief~~Board ~~Executive Officer~~ of ~~American Rice~~Corbina Telecom, ~~Inc.,~~ one of the largest ~~rice~~telecom ~~milling~~carriers ~~and marketing companies, located~~ in ~~Houston, Texas. Mr.~~Russia ~~Weinreb~~providing ~~holds~~ a ~~Masters~~wide ~~Degree~~range inof ~~Talmudic Law from Beth~~telecommunications ~~Hatalmud~~services.

~~Section~~In ~~8 Other~~consideration for his services as a director and consultant to the Company and ~~Events~~ATI, Mr. Leibov will be compensated at the rate of $100 per hour and will receive 833 shares of the Company's common stock per month.

Item 8.01 Other Events

Stock Option Plan

On March 11, 2009 the Registrant adopted a Stock Option Plan (the “Plan”), pursuant to which eligible participants may acquire up to two million (2,000,000) shares of the Registrant’s common stock at an exercise price not less than 100% of the fair market value of the stock at the time of the grant.

Waterville Agreement

On March 12, 2009, the Registrant entered into an agreement with Waterville Investment Research (“Waterville”) to provide consultant services in connection with the Registrant’s business operation. Such services includes posting of information regarding the Registrant on Waterville’s website and the production of a summary research report providing data and research on the Registrant. Pursuant to the terms of the agreement, Waterville will provide such services for a period of one (1) year commencing on March 11, 2009 and terminating on March 15, 2010. In consideration for the services to be rendered by Waterville, the Registrant agreed to pay Waterville the sum of $500 and issue an aggregate of 80,000 shares of its common stock to parties named in the agreement.

Section 9 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits

(a) Financial Statements of business acquired. Not applicable

(b) Pro forma financial information. Not applicable

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Exhibit 10.8		Powersafe Technology Corp. 2009 Stock Option Plan
Exhibit 10.9		Powersafe Technology Corp. Form of Stock Option Agreement
Exhibit 10.10		Agreement dated March 12, 2009 between Powersafe Technology Corp and Waterville Investment Research, Inc.

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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 hereunto duly authorized.

~~POWERSAFE TECHNOLOGY CORP. By. /s/ Jack N. Mayer Name~~Date: April 1, ~~Jack N. Mayer Title: President~~2009

~~Date~~POWERSAFE TECHNOLOGY CORP. By. /s/ Jack Mayer Name: ~~March 16,~~ ~~2009~~Jack Mayer Title: President

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