0001213900-11-005003.txt : 20110912 0001213900-11-005003.hdr.sgml : 20110912 20110909173709 ACCESSION NUMBER: 0001213900-11-005003 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20110907 ITEM INFORMATION: Termination of a Material Definitive Agreement FILED AS OF DATE: 20110912 DATE AS OF CHANGE: 20110909 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AISystems, Inc. CENTRAL INDEX KEY: 0001328769 STANDARD INDUSTRIAL CLASSIFICATION: METAL MINING [1000] IRS NUMBER: 202414965 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-52296 FILM NUMBER: 111084429 BUSINESS ADDRESS: STREET 1: 3500 CARILLON POINT CITY: KIRKLAND STATE: WA ZIP: 98033 BUSINESS PHONE: 425-749-7287 MAIL ADDRESS: STREET 1: 3500 CARILLON POINT CITY: KIRKLAND STATE: WA ZIP: 98033 FORMER COMPANY: FORMER CONFORMED NAME: Wolf Resources, Inc. DATE OF NAME CHANGE: 20080520 FORMER COMPANY: FORMER CONFORMED NAME: CANTOP VENTURES, INC. DATE OF NAME CHANGE: 20050531 8-K 1 f8k082911_aisystems.htm FORM 8K f8k082911_aisystems.htm
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 7, 2011
 
AISystems, Inc.
(Exact name of Registrant as specified in its charter)
 
Nevada
000-52296
20-2414965
(State or other jurisdiction of incorporation)
(Commission File Number)
(I.R.S. Employer Identification No.)

 
3500 Carillon Point
Kirkland, WA98033
(Address of principal executive offices) (Zip Code)

(425) 749-7287
 (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):
 
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 
 
 
Item 1.02
Termination of a Material Definitive Agreement.

On September 7, 2011, Dynamic Intelligence Inc. (“Dynamic”) provided AISystems, Inc. (the “Company”) with a Notice of Non-Renewal, pursuant to an Intellectual Property Agreement (the “Agreement”) entered into by the parties on December 9, 2005. Pursuant to the terms of the Agreement, the term of the Agreement would be automatically and continuously extended in one (1) year increments unless either party provided notice of non-renewal at least ninety (90) days before the end of the then-current term. Due to Dynamic’s Notice of Non-Renewal, the Agreement will not renew on December 9, 2011.

The Agreement provided the Company with an exclusive and perpetual license to Dynamic’s  intellectual property, which permitted the Company to use such proprietary technology to develop a unique proprietary business platform for the airline industry that is comprised of systems and mathematical algorithms capable of generating significant improvements in strategic planning capabilities, resource scheduling, revenue management and integrated operations.

As disclosed in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2010, Dynamic is the beneficial owner of 27,044,620 shares of the Company’s common stock, representing an ownership interest of 18% in the Company.
 
 
 
 
 
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.
 
 
AISYSTEMS, INC.
  
       
Date:   September 9, 2011
By:
 /s/ Stephen C. Johnston                                                                                    
 
   
Stephen C. Johnston
  
   
Chief Executive Officer