UNITED STATES
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)November 15, 2013
ARKANOVA ENERGY CORPORATION
(Exact name of registrant as specified in its charter)
Nevada | 000-51612 | 68-0542002 |
| (State or other jurisdiction | (Commission | (IRS Employer |
| of incorporation) | File Number) | Identification No.) |
305 Camp Craft Road, Suite 525 Austin, TX 78746
(Address of principal executive offices and Zip Code)
(512) 222-0975
(Registrant’s telephone number, including area code)
(Former name or former address, if changed since last report)N/A
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 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a -12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d -2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e -4(c))
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Item 1.01 Entry into a Material Definitive Agreement.
The information required by this item is included under Item 5.02 of this Current Report on Form 8-K and is incorporated by reference.
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On November 15, 2013, we re-priced 3,425,000 stock options granted to directors, officers, employees and consultants to $0.10 and extended the expiry dates of the stock options as noted below:
Name |
Position |
Date of Grant |
No. of
Options | Original
Exercise
Price |
Original
Expiry Date |
New Expiry
Date |
| Reginald Denny | Director & Officer | November 19, 2008 | 100,000 | $0.12 | November 19, 2013 | September30,2018 |
| Reginald Denny | Director & Officer | October 14, 2009 | 350,000 | $0.20 | October 14, 2014 | December31,2018 |
| Burdette Taylor | Employee | October 14, 2009 | 100,000 | $0.20 | October 14, 2014 | December31,2018 |
| Marc Vinson | Employee | October 14, 2009 | 150,000 | $0.20 | October 14, 2014 | December31,2018 |
| Pierre Mulacek | Director & Officer | October 14, 2009 | 600,000 | $0.20 | October 14, 2014 | December31,2018 |
| Erich Hofer | Director & Officer | October 14, 2009 | 300,000 | $0.20 | October 14, 2014 | December31,2018 |
| Tommy Overstreet | Employee | August 1, 2010 | 100,000 | $0.24 | August 1, 2015 | December31,2018 |
| Pierre Mulacek | Director & Officer | October 8, 2010 | 650,000 | $0.25 | October 8, 2015 | December31,2018 |
| Reginald Denny | Director & Officer | October 8, 2010 | 550,000 | $0.25 | October 8, 2015 | December31,2018 |
| Erich Hofer | Director & Officer | October 8, 2010 | 300,000 | $0.25 | October 8, 2015 | December31,2018 |
| Burdette Taylor | Employee | October 8, 2010 | 150,000 | $0.25 | October 8, 2015 | December31,2018 |
| Marc Vinson | Employee | October 8, 2010 | 75,000 | $0.25 | October 8, 2015 | December31,2018 |
The option agreements previously signed will remain in full force and effect and will be amended solely to amend the exercise price and the expiry date.
Pierre Mulacek, Reginald Denny and Erich Hofer each abstained from approving the amendments with respect to their own respective options.
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Item 9.01. Financial Statements and Exhibits
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.
ARKANOVA ENERGY CORPORATION
/s/ Reginald Denny
Reginald Denny
CFO and Director
Date: November 19, 2013
