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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K/A
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 16, 2005
Global Aircraft Solutions, Inc.
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(Exact Name of Registrant as Specified in Charter)
Nevada 000-28575 84-1108499
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(State of (Commission File (IRS Employer
Incorporation) Number) Identification No.)
P.O. Box 23009 Tucson, AZ 85734
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(Address of principal executive offices)
(520) 294-3481
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(Registrant's telephone number, including area code)
Renegade Venture (NEV.) Corporation
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(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 (see General Instruction A.2. below):
|_| 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-14(c).
ITEM 1.01. Entry into a Material Definitive Agreement.
On November 14, 2005, the joint venture Delaware limited liability company
Jetglobal, LLC formed by registrant Global Aircraft Solutions, Inc. ("Global")
and BCI Aircraft Leasing ("BCI"), entered into an Aircraft Sale and Purchase
Agreement (the "Agreement") with Aviation Finance Group, LLC ("AFG") to sell to
AFG 12 of the 26 Boeing 737-200 aircraft purchased by Jetglobal under the terms
of an agreement entered into with Jetran International on September 2, 2005. The
Agreement also provides that Global's wholly owned subsidiary, Hamilton
Aerospace Technologies, Inc. ("HAT") shall perform the maintenance service on
such aircraft upon the successful negotiation of a maintenance agreement. The
sale of the 12 aircraft under the Agreement will generate approximately $3.1
million in income for Global to be received over the course of the fourth
quarter 2005 and the first quarter 2006 if all the terms and conditions of the
Agreement are satisfied in full. The Agreement contains certain contingencies
that allow AFG to terminate the Agreement or refuse to accept some or all of the
12 aircraft that are the subject of the Agreement if delivery conditions are not
satisfied and if AFG and HAT fail to enter into a maintenance agreement for the
aircraft.
ITEM 9.01. Financial Statements and Exhibits
(c) Exhibits
Exhibit No. Document
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99.1 Aircraft Sale and Purchase Agreement dated November 14, 2005.
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.
Date: November 16, 2005
Global Aircraft Solutions, Inc.
(Registrant)
By: /s/ John Sawyer
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Name: John Sawyer
Title: President