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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
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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 11, 2005
GREYSTONE LOGISTICS, INC.
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
OKLAHOMA 000-26331 75-2954680
(STATE OR OTHER JURISDICTION (COMMISSION FILE NUMBER) (I.R.S. EMPLOYER
OF INCORPORATION) IDENTIFICATION NO.)
1613 E. 15TH, TULSA, OKLAHOMA 74120
(Address of principal executive offices) (Zip Code)
(918) 583-7441
(Registrant's telephone number, including area code)
NOT APPLICABLE
(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))
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SECTION 1 - REGISTRANT'S BUSINESS AND OPERATIONS
ITEM 1.01. ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.
The registrant has entered into an employment agreement with Bobby L.
Moore, which has an effective date as of August 15, 2005 and a term of
twenty-four months with four automatic twelve month renewal periods. Pursuant to
the employment agreement, Mr. Moore shall serve as the Registrant's President
and Chief Executive Officer and is entitled to receive a base salary of $25,000
per month plus travel and entertainment expenses and an annual bonus up to his
annual base salary based on meeting objectives determined by the Board of
Directors and Mr. Moore. Also pursuant to the employment agreement, the
registrant has agreed that Mr. Moore and the management team of the registrant
shall be granted options to purchase up to an aggregate amount of fifteen
percent of the common stock of the registrant. A copy of Mr. Moore's employment
agreement is attached hereto as Exhibit 10.1 to this Current Report on Form 8-K
and is incorporated herein by reference. The foregoing description of the
employment agreement is qualified in its entirety by reference to the full text
of the employment agreement.
SECTION 5 - CORPORATE GOVERNANCE AND MANAGEMENT
ITEM 5.02. DEPARTURE OF DIRECTORS OR PRINCIPAL OFFICERS; ELECTION OF DIRECTORS;
APPOINTMENT OF PRINCIPAL OFFICERS.
Effective as of August 15, 2005, Bobby L. Moore shall replace Warren F.
Kruger as the registrant's President and Chief Executive Officer. Mr. Kruger
shall remain Vice Chairman of the registrant's Board of Directors and employed
with the registrant in a capacity that has yet to be determined. For the
material terms of Mr. Moore's employment agreement with the registrant, see Item
1.01 above to this Current Report on Form 8-K. Mr. Moore has also been appointed
as a member of the registrant's Board of Directors effective as of August 15,
2005.
For the last several years, Mr. Moore has been involved with managing a
privately held business owned by him. Until 2002, Mr. Moore served for three
years as CEO of CHEP International, preceded by four years as President and CEO
of CHEP Americas, subsidiaries of Brambles Industries Limited, a publicly traded
company on the Australian Stock Exchange. Prior to his employment with CHEP, Mr.
Moore served in senior managerial positions with PepsiCo for more than 20 years.
SECTION 7 - REGULATION FD
ITEM 7.01. REGULATION FD DISCLOSURE.
On August 11, 2005, the registrant announced that Bobby L. Moore has been
named President, CEO and a member of the Board of Directors of the registrant. A
copy of the press release is attached to this report as Exhibit 99.1 and is
being furnished pursuant to Regulation FD.
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SECTION 9 - FINANCIAL STATEMENTS AND EXHIBITS
ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits.
10.1 Employment Agreement dated as of August 15, 2005, between Greystone
Logistics, Inc. and Bobby L. Moore
99.1 Press Release date August 11, 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.
GREYSTONE LOGISTICS, INC.
Date: August 12, 2005 By: /s/ Robert H. Nelson
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Robert H. Nelson
Chief Financial Officer
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