SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
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Date of Report (Date of earliest event reported): April 19, 2005
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Defense Technology Systems, Inc.
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(Exact Name of Registrant as Specified in its Charter)
Delaware 1-9263 11-2816128
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(State of Incorporation or (Commission File Number) (I.R.S. Employer
Organization) Identification No.)
275K Marcus Blvd.
Hauppauge, New York 11788
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (631) 951-4000
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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 142-12 under the Exchange Act
(17 CFR 240.14z-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))
Item 1.02 - Termination of a Material Definitive Agreement.
On April 11, 2005, Defense Technology Systems, Inc. ("DFTS"), notified
Georal International, Ltd. ("Georal"), that it was rescinding the agreement with
Georal due to their failure to perform. That agreement, entered into on July 4,
2004, was for the acquisition by DFTS of a certain patent held by Georal in
exchange for the issuance of 1 million shares of DFTS common stock. As a result
of this recession, DFTS' rights in the patent will revert to Georal and 1
million shares of DFTS' common stock which were previously held in escrow will
be returned to its treasury. A copy of the press release issued April 12, 2005,
is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
Item 9.01 - Financial Statements and Exhibits.
(a) Not Applicable.
(b) Not Applicable.
(c) Exhibits
EXHIBITS DESCRIPTION
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99.1 Press Release dated April 12, 2005
SIGNATURE
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 thereunto duly authorized.
Date: April 19, 2005
DEFENSE TECHNOLOGY SYSTEMS, INC.
By: /s/ Philip J. Rauch
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Philip J. Rauch
Chief Operating & Financial Officer
EXHIBIT INDEX
Exhibit No. Description of Document
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99.1 Press Release dated April 12, 2005