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): September 29, 2015
ABAKAN INC.
(Exact name of registrant as specified in its charter)
Nevada
000-52784
98-0507522
(State or other jurisdiction
(Commission
(IRS Employer
of incorporation)
File Number)
Identification No.)
c/o Robert W Seiden, Receiver for Abakan, Inc. : 1120 Avenue of the Americas,4th Floor, New
York, New York, 10036
(Address of principal executive offices) (Zip code)
Registrant’s telephone number, including area code: (212) 626-6709
2665 S. Bayshore Drive, Suite 450, Miami, Florida 33133
(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:
□
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 8.01
OTHER EVENTS.
Securities and Exchange Commission Subpoenas
As previously disclosed, on or about November 21, 2014, Abakan Inc. (“Abakan”) received a subpoena
related to a non-public fact finding inquiry from the Securities and Exchange Commission (“Commission”).
On or about September 29, 2015 and October 5, 2015, Abakan received further subpoenas from the
Commission relating to the Commission’s inquiry.
Suspension of Product Line by Abakan’s Subsidiary MesoCoat, Inc. and Interim CEO appointed
Abakan's subsidiary MesoCoat, Inc. (“MesoCoat”) has been revamping, focusing on preservation of assets
and creating a pathway to profitability under Abakan’s receivership. As a result, a non-profitable product
line was recently suspended, resulting in the layoff of a handful of employees related to this product line,
including MesoCoat’s Chief Executive Officer, Stephen Goss. Mr. Goss is still currently serving as the
Chief Operating Officer and a director of Abakan.
The receiver Mr. Seiden has placed more focus on the company becoming profitable while building long
term growth. Richard J. Burns has been appointed Interim CEO of MesoCoat and additional new personnel
are being considered. Mr. Burns, who served briefly in 2013 as MesoCoat’s Chief Operating Officer, re-
joins MesoCoat with more than two decades of executive and corporate leadership experience. He has
previously successfully led engineering materials companies in Asia, Europe, South America and Mexico.
Mr. Burns previously served as the Vice President and General Manager of North American Engineered
Materials for PolyOne Corp., where he led the company to higher-margin products. He holds a graduate
degree in engineering management from Northeastern University.
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.
Abakan Inc.
Date
By: /s/ Robert Seiden
October 9, 2015
Name: Robert Seiden
Court Appointed Receiver