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): July 24, 2005
Mooney Aerospace Group, Ltd.
(Exact name of registrant as specified in its charter)
Delaware 0-21749 95-4257380
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(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification No.)
165 Al Mooney Road North, Kerrville, TX 78028
(Address of principal executive offices and Zip Code)
Registrant's telephone number, including area code: (830) 896-6000
Copies to:
Marc Ross, Esq.
Yoel Goldfeder, Esq.
Sichenzia Ross Friedman Ference LLP
1065 Avenue of the Americas
New York, New York 10018
Phone: (212) 930-9700
Fax: (212) 930-9725
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-4(c))
Item 5.02 Departure of Directors or Principal Officers; Election of Directors;
Appointment of Principal Officers.
At a meeting of the Board of Directors of Mooney Aerospace Group, Ltd.
(the "Company"), held on July 24, 2005, J. Nelson Happy resigned as the Chief
Financial Officer, President, Secretary and Vice Chairman of the Board of
Directors of the Company. Subsequent to the foregoing resignation, Gretchen Jahn
was appointed as the Chief Executive Officer, President and a member of the
Board of Directors of the Company and Barry Hodkin was appointed as the Chief
Financial Officer and Secretary of the Company.
From March 2005 to the present, Mr. Hodkin has been the Chief Financial
Officer of Mooney Airplane Company, Inc., a wholly owned subsidiary of the
Company. From March 2004 to March 2005, Mr. Hodkin served as the Chief Operating
Officer of Mooney Airplane Company, Inc. In addition, from October 2002 to March
2004, Mr. Hodkin was the President and Chief Financial Officer of Strojkov
Engineering. From March 2001 to October 2002, Mr. Hodkin was the Executive Vice
President and Chief Financial Officer of Superstav, a construction equipment
manufacturer. From February 2000 to March 2001, Mr. Hodkin was the Managing
Director and General Manager of Fermec International, a construction equipment
manufacturer. Mr. Hodkin received a B.A. (with honors) in accounting and
financial control from Lancaster University, Lancaster, England in 1977.
From October 2004 to the present, Ms. Jahn has been the Chief Executive
Officer of Mooney Airplane Company, Inc., a wholly owned subsidiary of the
Company. From October 2003 to October 2004, Ms. Jahn served as the President and
as a member of the Board of Directors of Knotridge Corporation. In August 1995,
Ms. Jahn founded Aegis Analytical Corporation, from August 1995 to October 2003,
Ms. Jahn served as the President, Executive Vice President and Chief Executive
Officer and from August 1995 to March 2004, Ms. Jahn served as a member of the
Board of Directors. Ms. Jahn has previously been on the Board of Directors of
Air Race Classic, Inc. Ms. Jahn received a B.A. in psychology (cum laude) from
Lawrence University in 1973. Ms. Jahn received a M.A. in experimental psychology
from the University of Colorado in 1975.
Related Party Transactions
Ms. Jahn leases an airplane to the Company at the rate of $125 per hour
for an aggregate sum of approximately $7,000 paid to Ms. Jahn to date.
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.
Mooney Aerospace Group, Ltd.
Date: July 28, 2005 /s/ Gretchen Jahn
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Gretchen Jahn
Chief Executive Officer