Utilicraft Aerospace Industries (UITA) 8-KMaterial Impairments

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) March 16, 2021

Registrant’s telephone number, including area code (214) 418-6940

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Item 2.06. Material Impairments.

Effective March 16, 2021, Utilicraft Aerospace Industries, Inc. is working on updating the filings and moving towards a U.S. Reporting: SEC Reporting current information status, and OTCBB “Current Status”. The company’s management were in contact with the SEC attorneys to explore various options and pathways that are available for a “fully reporting filer” who is “delinquent” in their filings. The management now has a plan and a resolution as to what steps need to be taken to return the company back to a “SEC fully reporting filer”. The company’s new management and their CEO decided on one of several possible solutions available to a “delinquent filer”. Recently, the SEC with an additional help from the “Jobs Act”, created a “Delinquent filer Program”. This program was design to assist “SEC Filers” who are currently delinquent and may be in jeopardy of losing their registration. The management decided to use this program to get the company back to “SEC Filer Current”. The “Delinquent Filer program “consists of several steps: 1. The company will file a combined report in a Form 10K. This will be a “multiyear combined report titled: “Comprehensive Filing Report Form SUPER 10K and 10Q”. 2. The company will have a newly hired PCAOB CPA firm to perform an audit and upon submission through EDGAR to SEC the company’s attorney will provide an “Attorney opinion letter as to the Current status. 3. Once accepted by the SEC, the company will then continue to file its reports and disclosure obligations on a timely matter.  At this point the company will also complete and file all the past 10Q and Q’s, to leave no “missing” filing periods.

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.