UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): June 15, 2010
Utilicraft Aerospace Industries, Inc.
(Exact name of registrant as specified in its charter)
|
Nevada
|
333-128758
|
20-1990623
|
|
(State or other jurisdiction of
|
(Commission File
|
(IRS Employer
|
|
incorporation)
|
Number)
|
Identification No.)
|
Double Eagle Airport
Albuquerque, New Mexico 87121
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (888)897-0771
Not applicable
(Former name or former address, if changed since last report)
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 thefollowing provisions:
|_| Written communications pursuant to Rule425 under the Securities Act (17 CFR
230.425)
|_| Soliciting material pursuant to Rule14a-12 under the Exchange Act (17 CFR
240.14a-12)
|_| Pre-commencement communications pursuant to Rule14d-2(b)under the Exchange
Act (17 CFR 240.14d-2(b))
|_| Pre-commencement communications pursuant to Rule13e-4(c)under the Exchange
Act (17 CFR 240.13e-4(c))
Item 1.02. Termination of a Material Definitive Agreement.
On June 15, 2010, Utilicraft Aerospace Industries, Inc. (the "Company") and United Aircraft Development Partners, Inc., a Wyoming corporation ("UADP") agreed to terminate the Subsidiary Acquisition Agreement (the “Acquisition Agreement”) entered into on January 21, 2010 providing for the acquisition of UADP by the Company for 103,250,000 shares of the Company’s common stock. A description of the terms of the Acquisition Agreement was previously described in the Form 8-K filed by the Company on January 22, 2010 and is incorporated herein by reference. The Acquisition Agreement wa sterminated by the mutual written consent of both parties, without any Company shares being issued to UADP and without the incursion of any termination penalties, as the incorporation of UADP’s assets into the Company was not progressing as expected.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits
|
Exhibit No.
|
Description
|
|
10.1
|
Subsidiary Acquisition Termination Agreement
|
|
|
|
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.
|
|
UTILICRAFT AEROSPACE INDUSTRIES, INC.
|
|
|
|
|
|
|
|
Date: June 16, 2010
|
By:
|
/s/ John J. Dupont
|
|
|
|
|
John J. Dupont
|
|
|
|
|
Chief Executive Officer
|
|
|
|
|
|
|