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): JULY 12, 2004

               COMMISSION  FILE  NO.:  0-49628




                           TELEPLUS ENTERPRISES, INC.
                           --------------------------
             (EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)



           NEVADA                                        98-0045023
- -------------------------------             -----------------------------------
(STATE OR OTHER JURISDICTION OF             (IRS EMPLOYER  IDENTIFICATION  NO.)
INCORPORATION OR ORGANIZATION)


                                  465 St Jean,
                                  Suite 601
                                  Montreal, Quebec,
                                  H2Y 2R6

               --------------------------------------------------
                    (ADDRESS OF PRINCIPAL EXECUTIVE OFFICES)


                                 (514) 344-0778
                          -----------------------------
                            (ISSUER TELEPHONE NUMBER)








ITEM  5.    OTHER  EVENTS  AND  REGULATION  FD  DISCLOSURE

On  July  12, 2004, the Company secured $11,000,000 US in financing from Cornell
Capital  Partners  LP. The terms of the transaction call for TelePlus to receive
initial  funding  in  the   amount  of  $1,000,000   US  payable  in  three  (3)
installments: $450,000 US payable on closing, $400,000 US payable upon filing of
a  registration  statement  and  the  balance  of  $150,000  US payable upon the
registration  statement  becoming  effective.  As  part  of  the transaction the
Company  also  secured  $10,000,000  US  under  a Standby Equity Agreement.  The
Company  can  draw  the funds under the Standby Equity Agreement over a 24 month
period  based  on  the  Company's  funding  requirements subject to an effective
registration  with  the  SEC.  The proceeds will be used to finance existing and
future  acquisitions,  capital  expenditures,  increases  in  inventory  and for
general  working  purposes.  As of the date of this 8K, the Company has received
the  first  installment  of  $450,000.  Agreements  pertaining  to the financing
arrangement  will be filed as exhibits to the registration statement once filed.

ITEM  7.     FINANCIAL  STATEMENTS  AND  EXHIBITS

None.


                                   SIGNATURES

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

TELEPLUS  ENTERPRISES,  INC.

July  16,  2004

/s/  Marius  Silvasan
- --------------------------------
Marius  Silvasan
Chief  Executive  Officer