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 2004

       Date of report (date of earliest event reported): December 1, 2005



                       MAGNITUDE INFORMATION SYSTEMS, INC.
             (Exact name of registrant as specified in its charter)


                                    Delaware
                 (State or other jurisdiction of incorporation)



            33-20432                                 75-2228828
      (Commission File Number)           (IRS Employer Identification No.)


                  401 State Route 24, Chester, New Jersey 07930
               (Address of principal executive offices) (Zip Code)


                                 (908) 879-2722
                         (Registrant's telephone number)



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

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))



                    INFORMATION TO BE INCLUDED IN THE REPORT

Item 8.01.  Other Events.

The Company is filing today an amendment to its Form 10-KSB for the fiscal year
ended December 31, 2004, containing expanded disclosures in the Explanatory Note
and in the footnote to its financial statements entitled Restatement of Results,
further clarifying that the previous restatement of its financial statements was
due to the reversal of a 50% discount that was previously applied to securities
issued to employees and non-employees for services rendered in 2003, and its
related effects on warrant and beneficial conversion feature valuations, and
corrected the presentation within the Statement of Stockholders' Equity for the
year ended December 31, 2004.

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, thereunto duly authorized.


                                            MAGNITUDE INFORMATION SYSTEMS, INC.

Dated:  December 1, 2005                    By: /s/ Steven D. Rudnik
                                               ---------------------
                                                Steven D. Rudnik
                                                President