UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT
 Pursuant to Section 13 or Section 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported)  November 21, 2005
                                                  -----------------

                     Conversion Services International, Inc.
             ------------------------------------------------------
             (Exact name of registrant as specified in its charter)

          Delaware                       0-30420                 20-1010495
- ----------------------------     ------------------------    -------------------
(State or other jurisdiction     (Commission File Number)       (IRS Employer
     of incorporation)                                       Identification No.)


          100 Eagle Rock Avenue
        East Hanover, New Jersey                                07936
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(Address of principal executive offices)                     (Zip Code)



Registrant's telephone number, including area code   (973) 560-9400
                                                      -------------

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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Item 4.02   Non-Reliance  on Previously Issued Financial Statements or a Related
            Audit Report or Completed Interim Review

(a)  On  November  21,  2005,  Conversion  Services  International,   Inc.  (the
"Company") issued a press release  announcing that it will restate its financial
statements  for the quarters ended  September 30, 2004,  March 31, 2005 and June
30, 2005, and the year ended  December 31, 2004,  and such financial  statements
should not be relied upon. These quarterly and annual financial  statements will
be restated primarily as a result of revised accounting treatment related to the
Company's issuance of financial  instruments in August and September 2004 and to
properly  record  the  loss  resulting  from the fair  value  adjustment  of the
financial instruments. A description of the principal adjustments resulting from
the  restatement is set forth in the press release,  a copy of which is attached
to  this  Current  Report.  The  Company's  determination  to  account  for  the
transaction as set forth in the press release was made by the Board of Directors
of the Company,  as well as its Audit  Committee,  on November 21, 2005, and was
discussed with the Company's independent registered public accounting firm.

      In August 2004, the Company issued a warrant to purchase 800,000 shares of
Company  common stock to Laurus Master Fund as part of a financing  transaction.
In September  2004,  the Company issued  warrants to purchase  400,000 shares of
Company common stock to three entities  affiliated  with Sands Brothers  Venture
Capital.  Using the guidance in EITF 00-27,  Application of EITF Issue No. 98-5,
"Accounting for Convertible  Securities with Beneficial  Conversion  Features or
Contingently Adjustable Conversion Ratios," the Company had previously accounted
for these warrants by calculating the fair value of the warrants using an option
pricing model and attributing a portion of the underlying debt associated to the
warrants by recording the value of the warrants as a component of  stockholders'
equity and a corresponding reduction of the debt.

      The value of these warrants are now reflected as a financial instrument in
the current liabilities section of the Condensed Consolidated Balance Sheet as a
result of the  issuance  of a  registration  rights  agreement  that  included a
liquidated  damages  clause,  which linked to an effective  registration of such
securities.  Accordingly,  the  Company  applied  EITF  00-19,  "Accounting  for
Derivative  Financial  Instruments  Indexed  to, and  Potentially  Settled in, a
Company's Own Stock" and accounted for the warrants as a liability.  The Company
is also  required to revalue the liability at each  reporting  period to reflect
the current fair value of the financial instruments. The gain or loss associated
with  this  revaluation  is  recorded  as a  component  of  income  (loss)  from
continuing  operations.  The  accounting  changes had no cash flow impact to the
Company.


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      This change requires  restatement of the Company's  Quarterly  Reports for
the periods ending September 30, 2004, March 31, 2005 and June 30, 2005, and the
Company's  Annual Report for the year ended  December 31, 2004,  and the amended
Quarterly  Reports  and the Annual  Report  for those  periods  are being  filed
simultaneously with this Current Report.

      As a result of these  corrections,  management  has  recommended,  and the
Board of Directors and its Audit  Committee,  has approved,  the  restatement of
each of the quarters ended September 30, 2004, March 31, 2005 and June 30, 2005,
and the  restatement of the year ended December 31, 2004,  through the filing of
an amended Form 10-QSB for each of these  quarters and an amended Form  10-KSB/A
for the  year  end.  In  addition,  the  Company  will  also  incorporate  these
corrections  for its third  quarter  ended  September  30, 2005 in its Quarterly
Report on Form 10-QSB filed today.


Item 9.01   Financial Statements and Exhibits

      (c)   Exhibits.

Exhibit Number    Description
- --------------    -------------------------------------
99.1              Press Release dated November 21, 2005

Statements  contained  in  this  Current  Report  on  Form  8-K,  which  are not
historical facts, are forward-looking  statements as that term is defined in the
Private  Securities   Litigation  Reform  Act  of  1995.  These  forward-looking
statements are based largely on current expectations and are subject to a number
of known and unknown risks,  uncertainties  and other factors beyond our control
that could  cause  actual  events and  results to differ  materially  from these
statements.  These  statements  are not  guarantees of future  performance,  and
readers  are  cautioned  not to place undue  reliance  on these  forward-looking
statements,  which speak only as of the date of this  release.  We  undertake no
obligation to update publicly any forward-looking statements.

                                      # # #


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                                   SIGNATURES

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


November 21, 2005              CONVERSION SERVICES INTERNATIONAL, INC.


                               By: /s/ Scott Newman
                                    ----------------------------------
                                    Name:  Scott Newman
                                    Title: President and Chief Executive Officer


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