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): December 15,
2006
FLOTEK
INDUSTRIES, INC.
Delaware
(State
or Other Jurisdiction of Incorporation)
001-13270
(Commission File Number)
90-0023731
(IRS
Employer Identification Number)
7030
Empire Central Drive, Houston, Texas (Address
of Principal Executive Offices)
77040
(Zip
Code)
Registrant’s
Telephone Number, including Area Code: (713)
849-9911
(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
5.02 DEPARTURE
OF DIRECTORS OR PRINCIPAL OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF
PRINCIPAL OFFICERS.
(b)
Effective December 15, 2006, Dr. Glenn Penny resigned as President and a
director of the Company.
(c)
As a
result of Dr. Penny’s resignation, the Company’s Chief Executive Officer, Jerry
D. Dumas Sr., assumed the role of President effective December 15,
2006.
Mr.
Dumas
has served as Chief Executive Officer and Chairman of the Board of the Company
since 1998. As disclosed in the Company’s proxy statement for 2006, the Company
has had the following related party transactions with Mr. Dumas in the past
two
years:
-
The
Company purchased from Phoenix E&P Technology, LLC (“Phoenix”), the
manufacturing assets, inventory and intellectual property rights to produce
oilfield shale shaker screens on January 28, 2005. Phoenix is 75% owned by
Chisholm Energy Partners (“CEP”). Mr. Dumas has a two and one-half percent
indirect ownership interest in CEP.
-
On
February 11, 2003, Mr. Dumas made a short-term loan to the Company for $135,000
to cover operating cash flow requirements. This note bore interest at 6%
annually. This note was paid down to $95,000 as of September 9, 2003, and
refinanced as of that date with a $10,000 principal payment due October 31,
2003
and monthly payments of $5,000 due until the note was paid in full, bearing
interest at 10% per annum. As of April 5, 2005, this note was paid in full.
Additional demand notes from Mr. Dumas totaling $71,068 and bearing interest
at
10% per annum were also paid in full in June, 2005.
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.
|
Date: December
21, 2006
/s/
Lisa
B.Meier
Lisa
Bromiley Meier
Chief
Financial Officer
|