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): September 16, 2015
ABAKAN INC.
(Exact name of registrant as specified in its charter)
Nevada
000-52784
98-0507522
(State or other jurisdiction
(Commission
(IRS Employer
of incorporation)
File Number)
Identification No.)
c/o Robert W Seiden, Receiver for Abakan, Inc. : 1120 Avenue of the Americas,4th Floor, New York,
New York, 10036
(Address of principal executive offices) (Zip code)
Registrant’s telephone number, including area code: (786) 206-5368
n/a
(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 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 5.02
DEPARTURE OF DIRECTORS OR CERTAIN OFFI CERS; ELECTION OF
DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY
ARRANGEMENTS OF CERTAIN OFFI CERS.
(a)
On September 16, 2015, Ray Tellini resigned his position on the board of directors and as head of
its audit committee for Abakan Inc. (“Company”). Mr. Tellini also served as a member of the Company’s
compensation committee, nominating & governance committee and compliance & ethics committee. The
resignation was predicated on alleged failures in corporate governance, conflict with management,
deficiencies in internal controls and inadequate public disclosure. A copy of Mr. Tellini’s resignation
letter is attached herewith as Exhibit 17.1 to this report on Form 8-K.
The Company provided Mr. Tellini with a copy of this report on Form 8-K prior to its filing with the
Securities and Exchange Commission and requested that Mr. Tellini furnish it with a letter addressed to
the Company stating whether he agrees with the statements made above and if not stating the respects in
which he does not agree. Mr. Tellini has raised no objections. As of the date of this report on Form 8-K,
Mr. Tellini has not furnished the Company with such a letter.
ITEM 9.01
FINANCIAL STATEMENTS AND EXHIBITS
The following exhibit is attached as part of this report:
Exhibit
Page
No.
No.
Description
17.1
Attached
Letter from Tellini to the Company dated September 16, 2015.
.
______________________________________________________________________________
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.
Abakan Inc.
Date
By: /s/ Robert W. Seiden
September 25, 2015
Name: Robert W Seiden
Title: Court Appointed Receiver for Abakan, Inc
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