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):
                                February 10, 2004
                          ------------------------------


                                 CNE Group, Inc.
--------------------------------------------------------------------------------

               (Exact Name of Registrant as Specified in Charter)
--------------------------------------------------------------------------------

Delaware                                1-9224                  56-2346563
--------------------------------------------------------------------------------
(State or Other Jurisdiction   (Commission File Number)       (I.R.S. Employer
     of Incorporation)                                      Identification No.)


200 West 57th Street, Suite 507
       New York, New York                                              10019
--------------------------------------------------------------------------------

 (Address of Principal Executive Offices)                           (Zip Code)


                                  212-977-2200
--------------------------------------------------------------------------------
               Registrant's telephone number, including area code


--------------------------------------------------------------
(Former name or former address, if changed since last report)

                                       1




Item 5. Other Information
-------------------------

In a private  transaction  on February 10, 2004,  the Company sold to accredited
investors,  some  of whom  are  existing  common  stockholders  of the  Company,
1,750,000 shares of its Common Stock, par value $.00001 per share, for $0.40 per
share for an aggregate  consideration of $700,000. This transaction was effected
pursuant to the exemption from the registration provisions of the Securities Act
of 1933 provided by Section 4(2) thereof.

The  financial  effect of the sale of the Common  Stock will be to increase  the
Company's   Stockholders'  Equity  by  the  net  proceeds  of  the  transaction,
approximating $567,000.  These proceeds will be utilized for working capital and
general corporate purposes.


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 thereunto duly authorized.

                                                CNE GROUP, INC.



Date:  February 10, 2004                        By: /S/Anthony S. Conigliaro
       -----------------                            ----------------------------
                                                       Anthony S. Conigliaro
                                                       Vice President and
                                                       Chief Financial Officer


                                       2