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): August 17, 2017

 

Drone USA, Inc.

(Exact name of registrant as specified in its charter)

 

Delaware   000-55789   30-0967943
(state or other jurisdiction   (Commission File Number)   (IRS Employer
of incorporation)       Identification Number)

 

16 Hamilton Street, West Haven, CT 06516

(address of principal executive offices) (zip code)

 

(203) 220-2296

(registrant’s telephone number, including area code)

 

 

(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-4(c))

 

Emerging growth company  x

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  x

 

 

 

 

 

 

Item 5.02    Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

 

On August 17, 2017, Paul Charles (“Chuck”) Joy and Kathryn Joy provided their 30 day notices of termination to be effective September 11, 2017, to the Board of Directors of the registrant (“Drone USA”) in accordance with the terms of their respective Employment Agreements. Chuck Joy is Executive Vice President of our wholly-owned subsidiary, Howco Distributing Co. (“Howco”), which he founded with his wife, Kathryn Joy, who serves as its Operations Manager. Under the terms of their Employment Agreements they could resign without cause within the first 12 months of their sale of Howco to Drone USA so long as Howco had the personnel to perform their duties.

 

2

 

 

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: August 18, 2017 Drone USA, Inc.
     
  By:   /s/ Michael Bannon
    Name: Michael Bannon
    Title: President and CEO

 

3