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): ~~July~~August 274, 2016

CASPIAN SERVICES, INC.
(Exact Name of Registrant as Specified in its Charter)
Nevada	000-33215	87-0617371
(State or other jurisdiction of incorporation)	Commission File Number)	(IRS Employer Identification Number)
2319 Foothill Drive, Suite 160, Salt Lake City, Utah
2319 Foothill Boulevard, Suite 160, Salt Lake City, Utah
(Address of principal executive offices)
84109
(Zip code)
(801) 746-3700
(Registrant’s telephone number, including area code)
N/A
(Former name of 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:

[ ]	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[ ]	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-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 1.01 Entry into a Material Definitive Agreement.

OnThe ~~July~~information ~~27,~~set ~~2016~~forth ~~Caspian~~in ~~Services,~~Items ~~Inc~~5.02 ~~(the “Company”)~~ and Bakhytbek Baiseitov (“Baiseitov”) agreed to amend the Secured Non-Negotiable Promissory Note, as amended, (“Non-Negotiable Note”) and the Secured Convertible Consolidated Promissory Note, as amended, (the “Consolidated Note”) held by Baiseitov to extend the maturity date of each Note from June 30, 2016 to June 30, 20179. As01 ofare ~~the~~incorporated ~~quarter~~herein ~~ended March 31, 2016, the aggregate amount owed~~ by ~~the Company to Baiseitov pursuant to the Non-Negotiable Note and the Consolidated Note was approximately $49,980,000~~reference. The Non-Negotiable Note is convertible to common stock of the Company at a price of $0.12 per share. The Consolidated Note is convertible to common stock of the Company at a price of $0.10 per share.

~~The~~Item ~~foregoing~~5.02. Departure ~~description~~ of ~~the~~Directors ~~amendments~~or toCertain ~~the~~Officers; ~~Non-Negotiable~~Election ~~Note~~of ~~and~~Directors; ~~the~~Appointment ~~Consolidated Note is a summary~~ of ~~and~~Certain isOfficers; ~~qualified~~Compensatory inArrangements its entirety by reference to the Third Amendment to the Caspian Services Inc. Secured Non-Negotiable Promissory Note, dated July 27, 2016, between Caspian Services, Inc. and Bakhytbek Baiseitov and the Third Amendment to the Caspian Services Inc. Secured Convertible Consolidated Promissory Note, dated July 27, 2016 between Caspian Services, Inc. and Bakhytbek Baiseitov, respectively, the full text of ~~which~~Certain ~~are filed as Exhibits 10~~Officers.~~01 and 10.02 and incorporated herein by reference.~~

On August 4, 2016, Caspian Services, Inc. (the “Company”) entered into Addendum #2 to the Employment Agreement of Alexey Kotov, dated August 4, 2016, (the “Addendum #2”). Mr. Kotov is the Company’s Chief Executive Officer and President and serves on the Company’s board of directors. Subject to approval by the Company’s board of directors, Addendum #2 extends the term of Mr. Kotov’s existing employment agreement with the Company for a term of three years commencing on August 1, 2016. All other terms and conditions of Mr. Kotov’s existing employment agreement are unchanged, remain in full force and effect and shall continue through the term of Addendum #2.

The foregoing description of Addendum #2 is a summary of and is qualified in its entirety by reference to Addendum #2, the full text of which is filed as Exhibit 10.01 to this Current Report on Form 8-K and incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits

	Exhibit 10.01	Third Amendment to the Caspian Services, Inc. Secured Non-Negotiable Promissory Note, dated July 27, 2016, between Caspian Services, Inc. and Bakhytbek Baiseitov
	Exhibit 10.02	Third Amendment to the Caspian Services, Inc. Secured Convertible Consolidated Promissory Note, dated July 27, 2016, between Caspian Services, Inc. and Bakhytbek Baiseitov

Exhibit 10.01

Addendum #2 Employment Agreement of Alexey Kotov dated August 4, 2016

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 hereunto duly authorized.

	CASPIAN SERVICES, INC.
Date: August 2, 2016	By:	/s/ Indira Kaliyeva
Date: August 9, 2016	By:	/s/ Alexey Kotov
		Indira Kaliyeva
		Alexey Kotov
		Chief Financial Officer
		Chief Executive Officer

Filing Compare · CASPIAN SERVICES INC