================================================================================
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): June 23, 2006
GELSTAT CORPORATION
(Exact name of registrant as specified in its charter)
MINNESOTA 0-21394 90-0075732
State of other jurisdiction (Commission File No.) (IRS Employer
of incorporation) Identification Number)
1650 WEST 82ND STREET, SUITE 1200, BLOOMINGTON, MN 55431
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (952) 881-4105
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:
|_| 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
On June 23, 2006, James La Flamme was appointed to the Company's board of
directors. Mr. La Flamme has more than 25 years of senior management, executive
leadership and operations experience in the healthcare field. He is currently a
senior executive with Galloway Consulting, where he specializes in operational
improvement and financial turnaround in the healthcare industry, and
implementing transformation strategies to maximize the value of businesses. Mr.
La Flamme has also served on a number of pharmacy advisory boards during his
career, primarily focused on marketing and sales. He currently sits on the
advisory board for FFF Enterprises, one of the largest distributors of
biopharmaceuticals, vaccines and blood products in the United States.
On June 26, 2006, Mr. La Flamme was appointed to serve as chair of the
Company's audit committee, and was also appointed to serve on the Company's
compensation committee. Also on June 26, 2006, board member Michael Chavanu was
appointed to serve as chair of the Company's compensation committee, and was
also appointed to serve on the Company's audit committee.
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.
Dated: June 28, 2006 GELSTAT CORPORATION
By /s/ Richard Ringold
--------------------------------------
Richard Ringold
Chief Executive Officer