Item 5.02    Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers.

    Effective June 16, 2008, the Board of Directors Regal One Corporation (the "Company"), by unanimous written consent, agreed to accept the resignation of Malcolm Currie from his positions as the Company' s Chief Executive Officer, Chief Financial Officer and Chairman of the Board of Directors.  Mr. Currie will, however, remain a director of the Company.  The Board also appointed Charles J. Newman to a vacant seat on the Board of Directors and appointed Mr. Newman as the Company's new Chief Executive Officer, Chief Financial Officer and Chairman of the Board of Directors.

Charles J. Newman, 62, is a private investor with corporate management experience.  From 1982 to the present, Mr. Newman has been serving as Chief Executive Officer of NCJ Corporation. From 1985 to the present, Mr. Newman has been serving as the Chief Executive Officer of Mid America Venture Capital Fund, Inc. From 1988 to the present, he has been serving as Chief Financial Officer of Lincoln Loan & Finance Corp., National Acceptance Corporation and Ambassador Finance Co., Inc.  Mr. Newman has also been serving as the Chief Executive Officer for those three entities since 2005.  From 1993 to the present, Mr. Newman has been serving as President and Director of Mid America Capital Corp.  From 2004 to the present, Mr. Newman has been serving as Chief Financial Officer of Viurx Pharmaceuticals, Inc.  From 2005 to the present, Mr. Newman has been serving as President and Director of Cardiovas Corporation and, from 1999 to the present, he has served in those same capacities for Porchester Gardens, LTD.