EVSP Environmental Service Professionals Inc (CE)

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): June 30, 2010

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.

[_] Written communications pursuant to Rule 425 under the Securities Act (17

 CFR240.14d-2(b))

[_] Soliciting material pursuant to Rule 14a-12 under Exchange Act (17
 CFR240.14a-12)

[_] Pre-commencement communications pursuant to Rule 14d-2(b) under the
 Exchange Act (17 CFR240.14d-2(b))

[_] Pre-commencement communications pursuant to Rule 13e-4(c) under the
 Exchange Act (17 CFR240.13e-4(c))

TABLE OF CONTENTS

SECTION 1. REGISTRANT'S BUSINESS AND OPERATIONS..............................1

SECTION 2. FINANCIAL INFORMATION.............................................1

 Item 1.02 Termination of a Material Definitive Agreement.......1

SECTION 3. SECURITIES AND TRADING MARKETS....................................1

SECTION 4. MATTERS RELATING TO ACCOUNTANTS AND FINANCIAL
 STATEMENTS....................................................1

SECTION 5. CORPORATE GOVERNANCE AND MANAGEMENT...............................1

SECTION 6. [RESERVED]........................................................1

SECTION 7. REGULATION FD.....................................................1

SECTION 8. OTHER EVENTS......................................................1

SECTION 9. FINANCIAL STATEMENTS AND EXHIBITS ................................2

SIGNATURES.....................................................................2

SECTION 1. REGISTRANT'S BUSINESS AND OPERATIONS

ITEM 1.02 TERMINATION OF A MATERIAL DEFINITIVE AGREEMENT.

Environmental Service Professionals, Inc., a Nevada corporation (the "Company"), has rescinded the purchase of all $185,408,945 face amount of life settlement insurance policies that it believed it had acquired from Lion Share Capital, LLC ("LSC") in February 2010 through the Company's wholly owned subsidiary, ESP Settlement, LLC ("ESP LLC"). ESP LLC is returning all of the policies and policy documents to LSC, terminating the purchase, and demanding a return and cancellation of all 5,000,000 shares of the Company's common stock and 5,000,000 warrants to purchase the Company's common stock that had been issued to LSC in consideration for the policies. Accordingly, ESP LLC will not own any policies and the Company is not pledging its limited liability interests as security for any obligation of the Company at this time. The Company is completing financing that will not require the pledge of life insurance settlement policies.

SECTION 2. FINANCIAL INFORMATION

Not Applicable

SECTION 3. SECURITIES AND TRADING MARKETS

Not Applicable.

SECTION 4. MATTERS RELATED TO ACCOUNTANTS AND FINANCIAL STATEMENTS

Not Applicable.

SECTION 5. CORPORATE GOVERNANCE AND MANAGEMENT

Not Applicable.

SECTION 6. [RESERVED]

SECTION 7. REGULATION FD DISCLOSURE

Not Applicable.

SECTION 8. OTHER EVENTS

Not Applicable.

SECTION 9. FINANCIAL STATEMENTS, PRO FORMA FINANCIALS & EXHIBITS

(a) Financial Statements of Business Acquired

Not Applicable.

(b) Pro Forma Financial Information

Not Applicable.

(c) Shell Company Transactions

Not Applicable.

(d) Exhibits

None

SIGNATURES

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

Date: June 30, 2010


 /s/ Edward L. Torres
 -----------------------------------------
 Edward L. Torres, Chief Executive Officer

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