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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): March 17, 2003
Oregon Trail Ethanol Coalition, L.L.C.
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(Exact name of Registrant as specified in its charter)
Nebraska 333-97451 47-0843892
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(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
102 West 6th Street
Box 267
Davenport, Nebraska 68335
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (402) 364-2591
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Item 1. Changes in Control of Registrant.
Not Applicable.
Item 2. Acquisition or Disposition of Assets.
Not Applicable.
Item 3. Bankruptcy or Receivership
Not Applicable.
Item 4. Changes in Registrant's Certifying Accountant.
Not Applicable.
Item 5. Other Events.
On March 17, 2003, the Oregon Trail Ethanol Coalition, L.L.C. ("OTEC")
Board of Directors approved the proposed termination of the Agency Agreement and
Financial Services Agreement with U.S. Bancorp Piper Jaffray, Inc. and the
negotiation and execution of a new Agency Agreement and a new Financial Services
Agreement with Northland Securities, Inc., Minneapolis, Minnesota. This action
was taken in response to the decision of the individual representative, Mark
Fisler, who was the primary contact with U.S. Bancorp Piper Jaffray working with
OTEC, to change employment from U.S. Bancorp Piper Jaffray to Northland
Securities, Inc. and the desire of the OTEC Board to continue with Mr. Fisler,
when he moves to Northland Securities, Inc. Based on information provided by Mr.
Fisler, OTEC believes that the effective date of Mr. Fisler's change in
employment will be on or about March 21, 2003.
As a result of Mr. Fisler's change in employment and the Board's decision
to engage Mr. Fisler's new employer, Northland Securities, Inc., OTEC must file
a Post-Effective Amendment to its Registration Statement which will be reviewed
by the U.S. Securities and Exchange Commission ("SEC"), and the change in
placement agents for OTEC's offering must receive appropriate regulatory
approval from the National Association of Securities Dealers, Inc. ("NASD"). No
further distribution of prospectuses, sales efforts, community meetings,
marketing or advertising can occur until the OTEC Post-Effective Amendment is
declared effective by the SEC and NASD regulatory approval is received.
The terms of the termination arrangement with U.S. Bancorp Piper Jaffray
are not yet finalized, but OTEC currently expects that the parties will mutually
agree to a termination of the Agency Agreement and the Financial Services
Agreement, and that OTEC will enter into substantially similar agreements with
Northland Securities, Inc. The finalized termination agreement with U.S. Bancorp
Piper Jaffray and Agency Agreement and Financial Services Agreement with
Northland Securities, Inc. will be filed as exhibits to OTEC's Post-Effective
Amendment.
Item 6. Resignation of Registrant's Directors.
Not Applicable.
Item 7. Financial Statements and Exhibits
None.
Item 8. Change in Fiscal Year
Not Applicable.
Item 9. Regulation FD Disclosure
Not Applicable.
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, thereunto duly authorized.
OREGON TRIAL ETHANOL COALITION, L.L.C.
Dated: March 18, 2003 By: /s/ Mark L. Jagels
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Mark L. Jagels, Chairman of the Board and President