SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT

                     Pursuant to Section 13 and 15(d) of the
                         Securities Exchange Act of 1934


 Date of Report (date of earliest event reported): May 21, 2002 (May 21, 2002)


                            ONLINE POWER SUPPLY, INC.
- --------------------------------------------------------------------------------
              Exact Name of Registrant as Specified in its Charter)

           Nevada                    00-29669                 84-1176494
- -----------------------------  ----------------------   ----------------------
(State or other jurisdiction    (Commission File No.)      (I.R.S. Employer
      of incorporation)                                    Identification No.)



  8100 South Akron, Suite 308
  Centennial, Colorado                                        80112
- -----------------------------------------------------   ------------------------
  (Address of Principal Executive Offices)                 (Zip Code)


       Registrant's telephone number, including area code: (303) 741-5641


                                 Not Applicable
- --------------------------------------------------------------------------------
               (Former Name, Former Address or Former Fiscal Year,
                          if Changed From Last Report)







ITEM 5.   OTHER EVENTS

     OnLine Power Supply, Inc. ("OPS") announced today that it will hold its
annual shareholders' meeting on July 18, 2002.

     The meeting will be held from 10 a.m. to noon at The Terrace Gardens at
Dove Valley Event and Conference Center, 13065 East Briarwood Avenue, Englewood,
Colorado.

     The date of record for this meeting is May 22, 2002.


                                   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.

                                            ONLINE POWER SUPPLY, INC.


Dated: May 21, 2002                         By:    /s/    Kris M. Budinger
                                                --------------------------------
                                                KRIS M. BUDINGER, President


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