------------------------------
                                                                    OMB APPROVAL
                                                  ------------------------------
                                                  OMB Number:          3235-0060

                                                  Expires:        April 30, 2009
                                                  Estimated average burden
                                                  hours per response........38.0
                                                  ------------------------------


                                  UNITED STATES
                       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


Date of Report (Date of earliest event reported)           May 10, 2007
                                                --------------------------------


                                 MathStar, Inc.
- --------------------------------------------------------------------------------
             (Exact name of registrant as specified in its charter)


          Delaware                    000-51560                   41-1881957
- --------------------------------------------------------------------------------
(State or other jurisdiction         (Commission               (IRS Employer
    of incorporation)                File Number)            Identification No.)


                  19075 N.W. Tanasbourne Drive, Suite 200 97124
- --------------------------------------------------------------------------------
               (Address of principal executive offices) (Zip Code)


Registrant's telephone number, including area code        (503) 726-5500
                                                   -----------------------------


- --------------------------------------------------------------------------------
         (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 Instructions 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))





Item 8.01. Other Events

On May 10, 2007, MathStar, Inc. (the "Company") issued a press release
announcing the commencement its offering of approximately $25 million worth of
shares of its common stock. A copy of the press release is attached as Exhibit
99.1 to this Form 8-K and is incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits

The exhibits listed below are filed herewith.

(d)           Exhibits

99.1         Press Release dated May 10, 2007.






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.



                                             MathStar, Inc.


Date:  May 10, 2007
                                             By /s/ James W. Cruckshank
                                                -----------------------------
                                                Vice President of Administartion
                                                and Chief Financial Officer
                                                (Principal Financial Officer and
                                                Principal Accounting Officer)