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 March 24, 2006 (Date of earliest event reported) Commission file number: 014754 ELECTRIC AND GAS TECHNOLOGY, INC. (Exact name of small business issuer as specified in its charter) TEXAS 75-2059193 (State or other jurisdiction of (IRS Employer incorporation or organization) Identification No.) 3233 W. Kingsley, Garland, Texas 75041 (Address of principal executive offices) (972) 840-3223 (Issuer's telephone number) NOT APPLICABLE (Former name, former address and former fiscal year, if changed since last report) ITEM 3.02 - UNREGISTERED SALES OF EQUITY SECURITIES On March 24, 2006, the Company issued one hundred ninety two thousand three hundred seven (192,307) shares of Common Stock at a price of $0.65 per share as full satisfaction of a bridge loan. These securities were issued without registration in reliance upon the exemption provided by Section 4(2) of the Securities Act of 1933. ITEM 9.01 - FINANCIAL STATEMENTS AND EXHIBITS None Electric & Gas Technology, Inc. (Registrant) Date: March 24, 2006 By: /s/ George M. Johnston ----------------------------- George M. Johnston Vice President & Chief Financial Officer