-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, P/WaXrK29R1RMbZ0sFedJjUaLSEwsNamI7dOpf5WkQQcwA4fwflwEVL6oMGTRxij Mj5+59rjSOYSrdIuX9TUog== 0001144204-05-032468.txt : 20051024 0001144204-05-032468.hdr.sgml : 20051024 20051024160637 ACCESSION NUMBER: 0001144204-05-032468 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20051020 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20051024 DATE AS OF CHANGE: 20051024 FILER: COMPANY DATA: COMPANY CONFORMED NAME: WITS BASIN PRECIOUS MINERALS INC CENTRAL INDEX KEY: 0000912875 STANDARD INDUSTRIAL CLASSIFICATION: GOLD & SILVER ORES [1040] IRS NUMBER: 841236619 STATE OF INCORPORATION: MN FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-12401 FILM NUMBER: 051152159 BUSINESS ADDRESS: STREET 1: 80 SOUTH 8TH STREET STREET 2: SUITE 900 CITY: MINNEAPOLIS STATE: MN ZIP: 55402 BUSINESS PHONE: (612)349-5277 MAIL ADDRESS: STREET 1: 80 SOUTH 8TH STREET STREET 2: SUITE 900 CITY: MINNEAPOLIS STATE: MN ZIP: 55402 FORMER COMPANY: FORMER CONFORMED NAME: ACTIVE IQ TECHNOLOGIES INC DATE OF NAME CHANGE: 20010702 FORMER COMPANY: FORMER CONFORMED NAME: METEOR INDUSTRIES INC DATE OF NAME CHANGE: 19960313 8-K 1 v027640_8k.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): October 20, 2005

 
   
WITS BASIN PRECIOUS MINERALS INC. 
    
   
(Exact Name of Registrant as Specified in Charter) 
    
 
 Minnesota
  
1-12401 
  
84-1236619 
(State or Other Jurisdiction of Incorporation)
  
(Commission File Number)
  
(IRS Employer Identification No.)


80 South 8th Street, Suite 900
Minneapolis, Minnesota  
  
55402 
(Address of Principal Executive Offices)
  
(Zip Code)
 
 
 612.349.5277
  
 
 (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:

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 1.01. Entry into a Material Definitive Agreement.

On October 20, 2005, the Registrant’s Board of Directors (the “Board”) authorized the issuance of stock option grants to its executive officers and non-employee directors as follows:

Stock Option Grants to Executive Officers:

On October 20, 2005, each of the Registrant’s executive officers received an option to purchase 200,000 shares of the Registrant’s common stock at a price of $0.15 per share. The Registrant’s closing sale price on the date of grant was $0.13. The stock options were granted pursuant to the Registrant’s 1999 Employee Stock Option Plan, as amended through December 12, 2002. The stock option grants vest immediately on the date of grant. The options expire ten years from the grant date. The executive officers receiving a stock option grant are set forth below.

Executive Officer
Shares
H. Vance White
200,000
Mark D. Dacko
200,000


Stock Option Grants to Non-Employee Directors:

On October 20, 2005, each of the Registrant’s non-employee directors received an option to purchase 200,000 shares of the Registrant’s common stock at a price of $0.15 per share. The Registrant’s closing sale price on the date of grant was $0.13. The stock options were granted pursuant to the Registrant’s 2003 Directors Stock Option Plan, as amended through July 8, 2004. The stock option grants vest immediately on the date of grant. The options expire ten years from the grant date. The non-employee directors receiving a stock option grant are set forth below. 

Non-Employee Director
Shares
Norman D. Lowenthal
200,000
Stephen D. King
200,000


Since the Registrant does not have a formal compensation committee, its Board of Directors oversees the responsibilities of the compensation committee.


Item 9.01.   Financial Statements and Exhibits.

(c) Exhibits:

None


SIGNATURES

Pursuant to the requirements of the Securities and Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
     
  Wits Basin Precious Minerals Inc.
 
 		  
 		  
 
Date:  October 24, 2005 By:   /s/  Mark D. Dacko
 
Mark D. Dacko
 
Chief Financial Officer

 
 


 
 
 
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