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

October 16, 2007

Date of Report (Date of earliest event reported)

INTERNATIONAL ENERGY, INC.

(Exact name of registrant as specified in its charter)

Nevada

(State or other jurisdiction of incorporation)

333-52040

(Commission File Number)

98-0195748

(I.R.S. Employer Identification No.)

1628 West 1st Avenue, Suite 216, Vancouver, British Columbia,  V6J 1G1

(Address of principal executive offices)

(800) 676-1006

 (Registrant’s telephone number, including area code)

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))

SECTION 1. Registrant's Business and Operations

None.

SECTION 2.  Financial Information

Item 2.03 – Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

On October 16, 2007, the Company issued an unsecured promissory note of $300,000 payable to Harmel S. Rayat, which is payable on demand and bears an interest rate of 10.75%. Proceeds from the loan, at a rate of prime plus 3%, will fund the Company’s research and development plans, ongoing expenses for salaries, legal and accounting fees and a comprehensive investor relations and branding program, as well as for working capital and other contingencies.

SECTION 3.  Securities and Trading Markets

None.

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SECTION 4.  Matters Related to Accountants and Financial Statements

None.

         

SECTION 5.  Corporate Governance and Management

SECTION 6. [Reserved]

N/A.

SECTION 7.  Regulation FD

None.

SECTION 8.  Other Events

At a Board of Directors meeting held on October 16, 2007, the Company’s Board of Directors agreed to extend the expiration date of 6,880,000 currently outstanding share purchase warrants from October 17, 2007 to October 17, 2008, with all other warrant terms and conditions remaining the same.   

The 6,880,000 share purchase warrants were issued as part of a $250,000 financing completed during October 2001. Of the 6,880,000 currently outstanding share purchase warrants, 2,200,000 warrants are held by other family members of Mr. Harmel S. Rayat. Mr. Rayat, the Company’s Secretary and Treasurer, disclaims beneficial ownership all share purchase warrants held by other family members.

SECTION 9.  Financial Statements and Exhibits

Item 9.01  Financial Statements and Exhibits

The following exhibits are furnished as part of this report:

Exhibit 10.1 – Unsecured promissory note

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.

INTERNATIONAL ENERGY, INC.

/s/ Derek Cooper

Derek Cooper

President and CEO

 

Date: October 22, 2007