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~~June 104, ~~2006~~2007

DYNAMIC LEISURE CORPORATION

Formerly known as

DYNECO CORPORATION

(Exact name of registrant as specified in its charter)

333-07953

(Commission File Number)

Minnesota

41-1508703

(State or other jurisdiction

of Incorporation)

(I.R.S. Employer

Identification No.)

The Company’s new address as of July 1, 2006 is:

5680A W. Cypress Street

Tampa, FL 33607

(Address of principal executive offices)

(813) 877-6300

(Registrant’s telephone number, including area code)

2203 North Lois Avenue, Suite 900

(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 1.01 ~~Entry~~ENTRY ~~into~~INTO aMATERIAL ~~Material~~DEFINITIVE ~~Definitive Agreement~~AGREEMENT.

OnModification July 10, 2006, the Company entered into a Common Stock Purchase Agreement (the “Agreement”) with MMA Capital, LLC, a Delaware Limited Liability Company (the “Purchaser”), under which the Purchaser agreed to purchase, and ~~the~~Waiver Company agreed to sell and issue to the Purchaser, Four Hundred Thousand (400,000) shares of the Company’s common stock, at a purchase price of Four Hundred Thousand Dollars ($400,000.00), a rate of $1.00 per share for the common stock. The Agreement was a private offering of unregistered securities and did not involve the issuance of any debt or promissory note, convertible or otherwise, nor any warrants to purchase stock of the Company. The Company did agree to file a new registration statement (on Form SB-2 or otherwise) on or before October 2, 2006, or within thirty (30) days of the effective date of the Company’s pending post-effective amendment(s), whichever comes first. The Company agreed to pay all of the costs and expenses of preparing and filing the registration statement. The Company agreed to file a new registration statement (on Form SB-2 or otherwise) on or before October 2, 2006, or within thirty (30) days of the effective date of the Company’s pending post-effective amendment(s), whichever comes first, and to cause the registration statement to become effective within sixty (60) days of its filing with the SEC. Should the registration statement not be timely filed as required above, or should the registration statement not be declared effective within the above-stated time period, the Purchaser shall be entitled to receive from the Company two percent (2%) of the committed capital investment, in cash or common stock of the Company at current market price, at the Purchaser’s discretion, for each one (1) calendar month of delay in either filing or effectiveness, or both. This late-filing/late-effectiveness provision also covers the Common Stock Purchase Agreement between the Purchaser and the Company dated June 294, ~~2006 and filed on the Current Report on Form 8-K on July 6, 2006.~~ 2007

~~The~~ On ~~above~~June ~~discussion~~4, of2007, Dynamic ~~the~~Leisure Corporation entered ~~material~~into ~~terms of the Agreement is not~~ a ~~complete~~Modification ~~description of the terms of the transaction~~ and isWaiver ~~qualified~~Agreement inwith ~~its~~Alpha ~~entirety~~Capital Aktiengesellschaft, byJM ~~reference~~Investors, toLLC, ~~the~~and ~~Agreement~~Libra ~~itself~~Finance, ~~a copy of which is included as Exhibit 99~~S.1A. ~~to this Current Report on Form 8-K and~~ (the ~~text of which is incorporated herein by reference~~“Investors”).

~~Also~~ Under onthe ~~July~~Modification 10and Waiver Agreement all accrued interest and penalties as of June 4, ~~2006~~2007 of $268,134 was added to the principal ~~Company~~amount ~~received~~of athe ~~subscription~~Notes ~~agreement~~of $155,158 and ~~$15~~interest will accrue on the new principal amount at the rate of 5% per annum beginning June 4,~~000~~ to2007. ~~purchase~~Interest 15is payable on any conversion date or on the maturity dates of the Notes,~~000~~ which have been extended to December 4, 2007. All principal and accrued interest is convertible at any time into shares of the Company’s common stock, ~~plus~~at 15a fixed conversion price of $0.75,~~000~~ ~~warrants~~subject to ~~purchase~~adjustment. As long as the Notes are outstanding, if the Company’s ~~common~~issues ~~stock~~any atCommon Stock, other than for certain enumerated exceptions, as set forth in the Modification and Waiver Agreement, prior to the complete conversion of the Notes for a consideration less than $10.00485 per share, ~~from~~the ~~David~~conversion O.price ~~Jensen~~shall be reduced to such other lower issue price. ~~The~~In addition, the purchase price of the warrants is subject to adjustment if the Company issues any Common Stock other than for certain enumerated exceptions set forth in the Modification and Waiver Agreement, ~~was~~for a ~~private~~consideration ~~offering~~less ofthan ~~unregistered securities~~$0.485 per share.

~~ITEM~~ In ~~3.02~~connection ~~Unregistered~~with ~~Sales~~the Modification and Waiver Agreement, the Investors agreed to convert an aggregate of ~~Equity~~$150,000 ~~Securities~~due and payable under the Notes into 200,000 shares of the Company’s Common Stock effective as of June 4, 2007.

In The ~~connection~~foregoing ~~with~~description ~~the~~of ~~transaction first described in Item 1.01,~~ the ~~Company~~Modification ~~issued~~and toWaiver ~~the~~Agreement ~~Purchaser~~is ~~400,000~~qualified ~~shares~~in ofits ~~common~~entirety ~~stock.~~by ~~The~~reference ~~shares~~to ~~were issued in reliance on~~ the ~~exemption~~full ~~from~~text ~~registration provided by section 4(2)~~ of such ~~the Act~~agreement, ~~on the basis that their issuance did not involve~~ a ~~public~~copy ~~offering,~~of ~~that~~which nois ~~underwriting~~filed ~~fees~~as orExhibit ~~commissions~~10.1 ~~were~~to ~~paid~~this byCurrent usReport inon ~~connection~~Form ~~with~~8-K ~~such sale,~~ and ~~that~~is ~~the~~incorporated ~~Purchaser~~herein ~~represented to us that it was an “accredited investor” as defined in the Act~~by reference.

InITEM ~~connection with the transaction last described in Item 1~~9.01, ~~the~~FINANCIAL ~~Company~~STATEMENTS ~~issued~~AND ~~to David O~~EXHIBITS. Jensen 15,000 shares of common stock. The shares were issued in reliance on the exemption from registration provided by section 4(2) of the Act, on the basis that their issuance did not involve a public offering, that no underwriting fees or commissions were paid by us in connection with such sale, and that the Purchaser represented to us that he was an “accredited investor” as defined in the Act.

~~ITEM~~(d) ~~8.01 Other Events~~Exhibits

As of July 1, 2006, the Company’s executive offices moved to 5680A W. Cypress Street, Tampa, FL 33607. The Company’s telephone and facsimile numbers have not changed.

Exhibit Number	Description
10.1	Modification and Waiver Agreement dated June 4, 2007

~~ITEM~~SIGNATURE ~~9.01(d) Exhibits~~

~~Exhibits~~Pursuant ~~99.1~~to ~~Common~~the ~~Stock~~requirements ~~Purchase~~of ~~Agreement~~the ~~with~~Securities ~~MMA~~Exchange ~~Capital~~Act of 1934, ~~LLC~~the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	DYNAMIC LEISURE CORPORATION


Date: June 8, 2007	By: /s/ Daniel G. Brandano
	Daniel G. Brandano
	President and Chief Executive Officer

~~SIGNATURE~~- 2 -

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.

	DYNAMIC LEISURE CORPORATION
Date: July 13, 2006	By: /s/ Daniel G. Brandano
	Daniel G. Brandano
	President

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