SECTION 2 - FINANCIAL INFORMATION Item 2.04 - TRIGGERING EVENTS THAT ACCELERATE OR INCREASE A DIRECT FINANCIAL OBLIGATION OR AN OBLIGATION UNDER AN OFF-BALANCE SHEET ARRANGEMENT Defaults on Senior Securities ----------------------------- The Company is in default on its Debentures with Investors who purchased the Debentures for a total of $7,049,375 in April 2007, by reason of non-payment, and several other breaches of covenants, including that the Company is not current in its SEC filings. The Company cannot determine now whether it will be able to cure any or all of the defaults and the Company does not have funds or revenues sufficient to pay off the Debentures. SECTION 8 - OTHER EVENTS Item 8.01 - OTHER EVENTS Pending Legal Action -------------------- The Company has been sued by Dr. Renuka Misra claiming breach of contract and compensation under a consulting agreement with Xechem International, Inc. The Company is defending the action and believes that it does not owe Dr. Misra for services not performed. SIGNATURE 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. Dated: February 27, 2008 XECHEM INTERNATIONAL, INC. By: /s/ Robert Swift ----------------------------------- Robert Swift, Chief Oversight Officer </TEXT> </DOCUMENT>