SECURITIES AND EXCHANGE COMMISSION
WASHINGTON DC 20549
FORM 8-K
Current Report Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report: May 18, 2004
(Date of earliest event reported)
INTREPID TECHNOLOGY & RESOURCES, INC.
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(Exact Name of Registrant as Specified in its Charter)
Idaho 000-30065 82-0230842
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(State of Incorporation) (Commission File No.) (I.R.S. Employer
Identification #
501 Broadway Suite 200 Idaho Falls, Idaho 83402
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(Address and Zip Code of the Principal Executive Offices)
Registrant's telephone number including area code: (208) 529-5337
(Former Name and Address)
(208) 529-5337
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(Registrants telephone number, including area code)
Indicate by a check mark whether Registrant (1) has filed all reports required
to be filed by Sections 13 or 15(d) of the Securities Exchange Act of 1934
during the preceding 12 months, and (2) has been subject to such filing
requirements for the past 90 days
YES [X] NO [ ]
ITEM 5. OTHER EVENTS.
On May 13, 2004, Intrepid Technology and Resources, Inc., ("the Company"),
completed a Purchase Agreement with the Magic Valley Energy Coalition ("the
Coalition") to buy out the Coalition's one-third (1/3) share of ownership in the
Magic Valley Energy Company, LLC ("MVEC"). This purchase makes MVEC a wholly
owned subsidiary of the Company.
The Coalition was formed in 2001, by a group of Idaho business and agricultural
leaders who desired to promote economic development via renewable and
alternative energy projects in their region, with particular emphasis on
development of ethanol and biodiesel production. In 2002, the Company and the
Coalition teamed together forming MVEC in order to bring together the
engineering, management and business capabilities to execute alternative energy
projects.
This wholly owned subsidiary is based in Magic Valley, making it eligible to
secure federal grants, loan guarantees, and other assistance aimed at
stimulating rural economies that are available only to rural small business
entities.
The purchase price was for $20,000 of the Company's common stock based on a
30-day average closing price of $.0786 per share. This transaction is less than
the requirements for a significant acquisition whereby the total value of this
purchase is less than 10% of the total assets of the Company.
SIGNATURES
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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.
INTREPID TECHNOLOGY & RESOURCES, INC.
(Registrant)
Date: May 18, 2004 By: /s/ Dr. Dennis D. Keiser, Chief
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Executive Officer & President
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Date: May 18, 2004 By: /s/ Dr. Jacob D. Dustin, Vice
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President, Secretary, and Treasurer
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