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UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM S-8 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 ITRONICS INC. (Name of small business issuer in its charter)
TEXAS
75-2198369
(State or other jurisdiction
(I.R.S. Employer or
of incorporation organization)
Identification No.) 6490 S. McCarran Blvd., Bldg. C-23, Reno, NV
89509 (Address of principal place of
business)
(zip code) Itronics Inc. Year 2003 Supplemental Employee/Consultant Stock Compensation Plan (Full title of the plan) Mintmire & Associates 265 Sunrise Avenue, Suite 204, Palm Beach, FL 33480 Tel: (561) 832-5696 _______________________________________________ (Name, address and telephone number of agent for service) CALCULATION OF REGISTRATION FEE PROPOSED PROPOSED TITLE OF AMOUNT MAXIMUM MAXIMUM SECURITIES OF SHARES OFFERING AGGREGATE AMOUNT OF TO BE TO BE PRICE OFFERING REGISTRATION REGISTERED REGISTERED PER SHARE PRICE FEE (1) 3,000,000 (2) $0.13 $390,000 $31.55 (1) Estimated pursuant to Rule 457(c) and 457(h) solely for the purpose
of calculating the Registration Fee, which is based on the closing sale price of the
Company's Common Stock on the average of June 2, 3, 4, 5, and 6, 2003 as reported on the
OTC Electronic Bulletin Board. (2) Represents the maximum number of shares which may be granted under
the Itronics Inc. Year 2003 Supplemental Employee/Consultant Stock Compensation Plan (the
"Plan"). PART II INFORMATION REQUIRED IN REGISTRATION STATEMENT Item 3. Incorporation of Documents by Reference The following documents which have been heretofore filed with the
Securities and Exchange Commission (the "Commission") by the Registrant pursuant
to the Securities Exchange Act of 1934 (the "Exchange Act") are incorporated by
reference in this Registration Statement: (1) The Registrant's Annual Report on Form l0-KSB for the fiscal year
ended December 31, 2002. 13(a) or Section 15(d) of the Exchange Act since the end of the fiscal
year covered by the Registrant's Annual Report referred to above; and Registration Statement. All documents filed by the Registrant with the Commission pursuant to
Section 13(a), 13(c), 14 or 15(d) of the Exchange Act subsequent to the date of this
Registration Statement and prior to the filing of a post-effective amendment hereto which
indicates that all securities offered have been sold or which deregisters all securities
then remaining unsold, shall be deemed to be incorporated by reference herein and to be a
part hereof from the date of filing of such documents. Item 4. Description of Securities. Not applicable. Item 5. Interests of Named Experts and Counsel. Not applicable. Item 6. Indemnification of Directors and Officers. The Bylaws of the Registrant contain provisions which provide for the
indemnification of directors, officers, and other employees or agents of the Registrant
properly appointed to serve in an official capacity who while acting in good faith, in the
best interests of the Registrant, and within the scope of their offices, are or are
threatened to be named as a defendant or respondent in a civil or criminal action. The
extent of the indemnification is limited to judgments, penalties, fines, settlements and
reasonable expenses actually incurred. Item 7. Exemption from Registration Claimed. Not applicable. Item 8. Exhibits. * 5.2 Opinion of Mintmire & Associates * 10.2 Itronics Inc. Year 2003 Supplemental Employee/Consultant Stock Compensation Plan
* 23.2 Consent of Kafoury, Armstrong & Company 23.3 Consent of Mintmire & Associates (contained in the opinion filed as Exhibit 5.2 hereof) ---------------------------- (* filed herewith) Item 9. Undertakings. The Registrant hereby undertakes: (1) to file, during any period in which it offers or sells securities,
a post effective amendment to this registration statement to include any prospectus
required by Section 10(a) (3) of the Securities Act; (2) that, for the purpose of determining any liability under the
Securities Act of 1933, to treat each post-effective amendment as a new registration
statement of the securities offered, and the offering of the securities at that time to be
the initial bona fide offering; (3) to remove from registration by means of a post-effective amendment
any of the securities that remain unsold at the end of the offering. Insofar as indemnification for liabilities arising under the Securities
Act of 1933 (the "Act") may be permitted to directors, officers, and controlling
persons of the small business issuer pursuant to the foregoing provisions, or otherwise,
the small business issuer has been advised that in the opinion of the Securities and
Exchange Commission such indemnification is against public policy as expressed in the Act
and is, therefore, unenforceable. In the event that a claim for indemnification against
such liabilities (other than the payment by the Company in the successful defense of any
action, suit or proceeding) is asserted by such director, officer or controlling person in
connection with the securities being registered, the Company will, unless in the opinion
of this counsel that matter has been settled by controlling precedent, submit to a court
of appropriate jurisdiction the question whether such indemnification by it is against
public policy as expressed in the Act and will be governed by the final jurisdiction of
such issue. SIGNATURES Pursuant to the requirements of Section 13 or 15(d) of the Securities
Exchange Act of 1934, the Registrant has duly caused this report to be signed on its
behalf by the undersigned, thereunto duly authorized.
ITRONICS INC. Date: June 25, 2003
By:
/S/ JOHN W. WHITNEY
John
W. Whitney
President,
Treasurer and Director
(Principal
Executive Officer) Pursuant to the requirements of the Securities Exchange Act of 1934,
this Report has been signed below by the following persons on behalf of the Company and in
the capacities and on the dates indicated. Date: June 25,
2003
By:
/S/ JOHN W. WHITNEY
John
W. Whitney
President,
Treasurer and Director
(Principal
Executive and Financial Officer) Date: June 25,
2003
By:
/S/ MICHAEL C. HORSLEY
Michael
C. Horsley
Controller
(Principal
Accounting Officer) Date: June 25,
2003
By:
/S/ PAUL H. DURCKEL
Paul
H. Durckel
Director Date: June 25,
2003
By:
/S / ALAN C. LEWIN
Alan
C. Lewin
Director EXHIBIT 5.2 MINTMIRE & ASSOCIATES ATTORNEYS AT LAW 265 SUNRISE AVENUE SUITE 204 PALM BEACH, FLORIDA 33480 TEL: (561) 832-5696 FAX: (561) 659-5371 June 24, 2003 Board of Directors Itronics Inc. 6490 S. McCarran Blvd., Bldg. C-23 Reno, NV 89509 Gentlemen: At your request, we have examined the Registration Statement on Form
S-8 to be filed by you with the Securities and Exchange Commission on or about June 26,
2003, in connection with the registration under the Securities Act of 1933, as amended, of
3,000,000 shares of the Company's Common Stock, no par value (exclusive of any securities
associated therewith, the "Stock") to be sold by you pursuant to the Company's
Year 2003 Supplemental Employee/Consultant Stock Compensation Plan. (the
"Plan"). As your counsel, we have examined the proceedings relating to and
action taken by you in connection with the adoption of the Purchase Plan. It is our opinion that the 3,000,000 shares of the Stock that may be
issued and sold by the Company pursuant to the Plan, when issued and sold in the manner
provided in the Plan, will be validly issued, fully-paid and non-assessable. We consent to the use of this opinion as an exhibit to the Registration
Statement and further consent to all references to us in the Registration Statement and
any amendments thereto. In providing this consent, we do not thereby admit that we are
within the category of persons whose consent is required under Section 7 of the Securities
Act of 1933, or the rules and regulations of the Commission thereunder. Very truly yours, MINTMIRE & ASSOCIATES /s/ Donald F. Mintmire Donald F. Mintmire, Esq. DFM/mt EXHIBIT 10.2 YEAR 2003 SUPPLEMENTAL EMPLOYEE/CONSULTANT STOCK COMPENSATION PLAN I. PURPOSE OF THE PLAN. The purpose of this Plan is to further the growth of Itronics Inc. and
its Subsidiaries (together being the "Company") by allowing the Company to
compensate Employee/Consultants and certain other persons who have provided bona fide
services to the Company, through the award of Common Stock of the Company. II. DEFINITIONS. Whenever used in this Plan, the following terms shall have the meanings
set forth in this Section: 1. "Award" means any grant of (i) Common Stock or (ii)
options or warrants to purchase Common Stock made under this Plan. 2. "Board of Directors" means the Board of Directors of the
Company. 3. "Code" means the Internal Revenue Code of 1986, as
amended. 4. "Common Stock" means the Common Stock of the Company. 5. "Date of Grant" means the day the Board of Directors
authorized the grant of an Award or such later date as may be specified by the Board of
Directors as the date a particular Award will become effective 6. "Employee/Consultant" means any person or entity (i) who
has rendered or will render bona fide services to the Company, and (ii) who, in the
opinion of the Board of Directors, are in a position to make, or who have previously made,
a significant contribution to the success of the Company. 7. 'Subsidiary" means any corporation that is a subsidiary with
regard to as that term is defined in Section 424(f) of the Code. III. EFFECTIVE DATE OF THE PLAN. The effective date of this Plan is July 1, 2003. IV. ADMINISTRATION OF THE PLAN. The Board of Directors will be responsible for the administration of
this Plan, and will grant Awards under this Plan. Subject to the express provisions of
this Plan and applicable law, the Board of Directors shall have full authority and sole
and absolute discretion to interpret this Plan, to prescribe, amend and rescind rules and
regulations relating to it, and to make all other determinations which it believes to be
necessary or advisable in administering this Plan. The determinations of the Board of
Directors on the matters referred to in this Section shall be conclusive. The Board of Directors shall have sole and absolute discretion to amend this Plan.
No member of the Board of Directors shall be liable for any act or omission in connection
with the administration of this Plan unless it resulted from the member's willful
misconduct. V. STOCK SUBJECT TO THE PLAN. The maximum number of shares of Common Stock as to which Awards may be
granted under this Plan is 3,000,000 shares which number represents 3,000,000 shares not
yet issued under the Plan. The Board of Directors may increase the maximum number of
shares of Common Stock as to which Awards may be granted at such time as it deems
advisable. VI. PERSONS ELIGIBLE TO RECEIVE AWARDS. Awards may be granted only to Employee/Consultants. VII. GRANTS OF AWARDS. Except as otherwise provided herein, the Board of Directors shall have
complete discretion to determine when and to which Employee/Consultant Awards are to be
granted, and the number of shares of Common Stock as to which Awards granted to each
Employee/Consultant will relate, and the terms and conditions upon which an Award may be
issued (including, without limitation, the date of exercisability, exercise price and term
of any Award which constitutes an option or warrant to purchase Common Stock). No grant
will be made if, in the judgment of the Board of Directors, such a grant would constitute
a public distribution within the meaning of the Securities Act of 1933, as amended (the
"Act"), or the rules and regulations promulgated thereunder. VIII. DELIVERY OF STOCK CERTIFICATES. As promptly as practicable after authorizing the grant of an Award, the
Company shall deliver to the person who is the recipient of the Award, a certificate or
certificates registered in that person's name, representing the number of shares of Common
Stock that were granted. If applicable, each certificate shall bear a legend to indicate
that the Common Stock represented by the certificate was issued in a transaction which was
not registered under the Act, and may only be sold or transferred in a transaction that is
registered under the Act or is exempt from the registration requirements of the Act. IX. RIGHT TO CONTINUED ENGAGEMENT. Nothing in this Plan or in the grant of an Award shall confer upon any
Employee/Consultant the right to continued engagement by the Company nor shall it
interfere with or restrict in any way the rights of the Company to discharge any
Employee/Consultant or to terminate any consulting relationship at any time. X. LAWS AND REGULATIONS. 1. The obligation of the Company to sell and deliver shares of Common
Stock on the grant of an Award under this Plan shall be subject to the condition that
counsel for the Company be satisfied that the sale and delivery thereof will not violate
the Act or any other applicable laws, rules or regulations. 2. This Plan is intended to meet the requirements of Rule 16b-3 in
order to provide officers and directors with certain exemptions from Section 16(b) of the
Securities Exchange Act of 1934, as amended. XI. TERMINATION OF THE PLAN. The Board of Directors may suspend or terminate this Plan at any time
or from time to time, but no such action shall adversely affect the rights of a person
granted an Award under this Plan prior to that date. XII. DELIVERY OF PLAN. A copy of this Plan shall be delivered to all participants, together
with a copy of the resolution or resolutions of the Board of Directors authorizing the
granting of the Award and establishing the terms, if any, of participation. EXHIBIT 23.2 INDEPENDENT AUDITORS'
CONSENT We consent to the incorporation by reference in the Registration
Statement of Itronics Inc. on Form S-8 to be filed on or about
Common Stock
Par value $0.001
per share
/s/Kafoury, Armstrong & Company
KAFOURY, ARMSTRONG & COMPANY
Reno, Nevada June 24, 2003
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