UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 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): ~~September~~October 2415, 2015

Islet Sciences, Inc.

(Exact Name of Registrant as Specified in Charter)

Nevada	001-34048	87-0531751
(State or Other Jurisdiction	(Commission File Number)	(IRS Employer
of Incorporation)		Identification No.)

6601 Six Forks Rd., Suite 140

Raleigh, North Carolina 27615

(Address of Principal Executive Offices)

Registrant's telephone number, including area code: (919) 480-1518

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 Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

~~Election~~Appointment of ~~Directors~~Chief Financial Officer.

On ~~September~~October ~~24,~~21¸ 2015, Islet Sciences, Inc. (the “Company”) ~~received~~announced athat ~~stockholder~~David ~~written consent in lieu of an annual meeting from representatives of a majority of its stockholders (the “Written Consent”)~~E. ~~The~~Wilder ~~Written~~was ~~Consent~~appointed ~~resolved~~Chief toFinancial ~~elect~~Officer ~~directors to the Company’s board~~ of ~~directors (~~the ~~“Board”)~~Company, ~~and~~effective ~~included~~October ~~consents from stockholders representing 36~~8,~~279,581~~ ~~shares,~~2015 orand ~~54.64%,~~Chief ofOperating ~~the~~Officer ~~outstanding shares~~ of the Company~~’s common stock. Pursuant to the Written Consent~~, ~~the~~effective ~~following~~October ~~individuals were elected to the Board~~19, ~~with immediate effect: Larry K~~2015. ~~Ellingson, Eugene M~~Mr. ~~Mannheimer,~~Wilder ~~Richard~~has D.not ~~Pilnik,~~previously ~~Gary~~held R.a ~~Keeling~~position ~~and James A. Harper,~~ with ~~Mr. Ellingson elected Chairman of~~ the Board. The Written Consent further resolved that Messrs. Ellingson, Mannheimer, Pilnik, Keeling and Harper (collectively, the “New Directors”) were to succeed James Green, William T. Wilkison, James Snapper, Antonio O’Ferral and Larry Hutchison (collectively, the “Prior Directors”) as directors. Pursuant to the Company’s ~~amended~~or ~~and~~any ~~restated bylaws, the terms~~ of ~~each~~its ~~of the Prior Directors expired upon the election and qualification of their successors, the New Directors~~subsidiaries. ~~John Steel was not succeeded by a New Director and shall remain a director until he resigns, is replaced, removed or otherwise terminated.~~

~~Appointment~~The Company entered into a consulting agreement (the “Wilder Consulting Agreement”) with Mr. Wilder, effective as of ~~Larry~~October K10, 2015 (the “Wilder Effective Date”) and expiring on October 14, 2016. ~~Ellingson~~During the term of the Wilder Consulting Agreement, Mr. Wilder will receive a monthly consulting fee of $12,500. He will also receive a one-time equity award of a stock option to purchase up to 500,000 shares of the Company’s common stock, with such option to vest according to the following schedule: 125,000 shares vesting on the ninety-first (91st) day following the Wilder Effective Date and ~~James~~the Aremaining 375,000 shares vesting in equal installments of 93,750 shares on the last day of each ninety (90)-day period following the initial vesting date. ~~Harper~~The option shall have a per-share exercise price equal to the fair market value of the shares of the Company’s common stock on the date of the option grant, as determined by the Company’s Compensation Committee. The foregoing summary of the Wilder Consulting Agreement is not complete and is qualified in its entirety by reference to the full text of the Wilder Consulting Agreement, filed herewith as Exhibit 10.1 to this Current Report on Form 8-K and incorporated by reference herein.

~~Larry~~Mr. KWilder, age 61, has more than 25 years’ experience as the principal financial or operating officer of a variety of companies, including those in the medical device, financial services, technology, telecommunications and retail industries, with a focus on underperforming or distressed companies. ~~Ellingson~~Mr. Wilder joins the Company from Vanguard Unlimited Inc., 69master distributor of a broad portfolio of rapid diagnostics testing devices, ~~was~~where ~~appointed~~he ~~President~~served as Chief Operating Officer and Chief ~~Executive~~Financial Officer since January 2014. Mr. Wilder served as Chief Financial Officer of Telscape Communications, Inc., where he managed the ~~Company~~acquisition onof ~~September~~TruConnect 24Mobile, ~~2015~~from November 2012 to November 2013, and as Chief Operating Officer and Chief Financial Officer of Continental Currency Services, Inc. and Sectran Security, Inc. from October 2008 to October 2012. Mr. ~~Ellingson~~Wilder ~~has~~served ~~not~~as ~~previously~~an ~~held~~Audit Manager at Deloitte & Touche LLP and earned a ~~position~~Bachelor ~~with~~of ~~the~~Science ~~Company~~in orBusiness ~~any~~Administration from the University of ~~its~~Southern ~~subsidiaries~~California.

~~Mr.~~There ~~Ellingson~~are isno ~~the~~understandings ~~Chairman~~or ofarrangements ~~the~~between ~~Board of the Company, with more than 40 years of experience in management and operations related to the biotechnology industry.~~ Mr. ~~Ellingson~~Wilder ~~began his career at Eli Lilly~~ and ~~Company~~any inother ~~1971~~person ~~and~~pursuant ~~served as Executive Director of Diabetes Care at Eli Lilly and Company until his retirement in 2001. From 2002~~ to ~~2005,~~which Mr. ~~Ellingson~~Wilder ~~served~~was asselected ~~the Executive Committee and Chairman of the Board of the American Diabetes Association. From 2005~~ to ~~2009~~serve ~~Mr.~~as ~~Ellingson~~Chief ~~served~~Financial asOfficer ~~Chairman~~ and Chief ~~Executive~~Operating Officer. ofThere ~~Protemix,~~are ~~Ltd.,~~no afamily ~~New~~relationships ~~Zealand~~between ~~biotechnology firm~~Mr. ~~From~~Wilder ~~2010~~and toany ~~2012,~~other hedirector ~~served~~or onexecutive ~~the~~officer ~~Executive Committee~~ of the ~~International Diabetes Federation BRIDGES Project~~Company. ~~From~~There ~~2012~~are tono ~~the~~relationships ~~present,~~between Mr. ~~Ellingson~~Wilder ~~has served as (i) a Co-Founder~~ and ~~Board Member on~~ the ~~National~~Company ~~Diabetes~~or ~~Volunteer~~any ~~Leadership~~of ~~Council;~~its ~~(ii)~~subsidiaries athat ~~Committee~~would ~~Member~~require ondisclosure ~~the~~pursuant ~~National~~to ~~Income~~Item ~~Development Committee of the American Diabetes Association; and~~ 404(~~iii~~a) ~~a Member~~ of ~~the~~Regulation ~~Scientific Advisory Board of CHD Bioscience~~S-K. Since 2013, he has served as Chairman of the Scientific Advisory Board for Boston Therapeutics. Mr. Ellingson is currently principal of Global Diabetes Consulting, where he has worked since 2006. He earned an executive MBA degree from Babson College in 1986 and received a Bachelor of Science degree in Pharmacy from North Dakota State University in 1969.

~~There~~Agreement ~~are~~with noLarry ~~understandings or arrangements between Mr~~K. Ellingson ~~and any other person pursuant to which Mr~~. Ellingson was selected to serve as President and Chief Executive Officer. There are no relationships between Mr. Ellingson and the Company or any of its subsidiaries that would require disclosure pursuant to Item 404(a) of Regulation S-K.

~~There~~As ~~are~~previously noannounced ~~material~~in ~~plans,~~the ~~contracts~~Company’s orCurrent ~~arrangements~~Report toon ~~which~~Form Mr8-K filed with the Securities and Exchange Commission on September 30, 2015, Larry K. Ellingson iswas aappointed ~~party~~Chief orExecutive inOfficer ~~which~~and hePresident ~~participates~~of ~~that~~the ~~was~~Company effective September 24, 2015. On October 15, 2015, the Company entered into ora ~~had~~consulting agreement (the “Consulting Agreement”) with Mr. Ellingson, effective as of August 1, 2015 (the “Effective Date”) and expiring on October 14, 2016. During the term of the Consulting Agreement, Mr. Ellingson will receive a ~~material~~monthly ~~amendment~~consulting infee ~~connection~~of $12,500, with ~~his~~the ~~appointments~~salary for the months of August and September 2015 deferred until January 1, or2016, ~~any~~after ~~grant~~which orit ~~award~~will tobe Mrpaid ratably over January and February 2016. ~~Ellingson~~He orwill ~~modification~~also ~~thereto~~receive a one-time equity award of a stock option to purchase up to 2,000,000 ~~under~~shares ~~any~~of the Company’s common stock, with such ~~plan~~option to vest according to the following schedule: 500,000 ~~contract~~shares orvesting ~~arrangement~~on the ninety-first (91st) day following the Effective Date and the remaining 1,500,000 shares vesting in ~~connection~~equal ~~with~~installments ~~his~~of ~~appointments~~375,000 shares on the last day of each ninety (90)-day period following the initial vesting date. The option shall have a per-share exercise price equal to the fair market value of the shares of the Company’s common stock on the date of the option grant, as determined by the Company’s Compensation Committee. The foregoing summary of the Consulting Agreement is not complete and is qualified in its entirety by reference to the full text of the Consulting Agreement, filed herewith as Exhibit 10.2 to this Current Report on Form 8-K and incorporated by reference herein.

~~James~~Resignation ~~A. Harper, 68, was appointed Chief Operating Officer and Secretary~~ of ~~the~~James ~~Company on September 28, 2015~~A. ~~Mr.~~ Harper ~~has not previously held a position with the Company or any of its subsidiaries~~.

~~Mr.~~On ~~Harper~~October ~~has more than 30 years’ experience in the Global Pharmaceutical and Medical Device Industries~~19, ~~serving in a variety of senior executive and management positions at public companies such as Eli Lilly and Company~~2015, ~~where~~James he served as President of the Diabetes and Growth Disorders Product Group/Endocrine Business Unit from 1994 to 2001 and as Group Vice President of Global Marketing and Sales and Chief Marketing Officer from 2001 to 2004A. ~~Mr.~~ Harper ~~was~~resigned ~~also~~as ~~President and~~ Chief ~~Executive~~Operating Officer of ~~Advanced~~the ~~Cardiovascular Systems~~Company, ~~Inc.~~effective ~~from 1991 to 1993~~immediately. Mr. Harper ~~served~~did onnot ~~the~~resign ~~board of directors of Phenomix Corporation~~ from ~~2007 to 2013, including as Chairman from 2011 to 2013, and on~~ the Company’s board of directors ~~of Cornerstone Therapeutics, Inc~~. from 2011 to 2014. Mr. Harper holds a Master of Business Administration from the Wharton School of Business in Marketing and Finance (1973) and a Bachelor of Arts degree in Biology from Vanderbilt University (1969).

~~There~~Pursuant ~~are~~to noGeneral ~~understandings~~Instruction orB.2. ~~arrangements~~to ~~between~~Form Mr8-K, the information set forth in Exhibit 99.1 ~~Harper~~shall ~~and~~not ~~any~~be ~~other~~deemed ~~person~~“filed” ~~pursuant~~for topurposes ~~which~~of ~~Mr.~~Section ~~Harper~~18 ~~was~~of ~~selected~~the toSecurities ~~serve~~Exchange Act of 1934, as ~~Chief~~amended ~~Operating~~(the ~~Officer~~“Exchange ~~and~~Act”), ~~Secretary.~~or ~~There~~otherwise ~~are~~subject noto ~~relationships~~the ~~between~~liabilities ~~Mr.~~of ~~Harper~~that ~~and~~section, ~~the~~nor ~~Company~~shall orit be incorporated by reference in any filing under the Securities Act of ~~its~~1933, ~~subsidiaries~~as ~~that~~amended, ~~would~~or ~~require~~the ~~disclosure~~Exchange ~~pursuant~~Act, toexcept ~~Item~~as ~~404(a)~~expressly ofset ~~Regulation~~forth ~~S-K~~by specific reference in such a filing.

~~There~~Item ~~are no material plans, contracts or arrangements to which Mr~~9.01 ~~Harper~~Financial isStatements aand ~~party or in which he participates that was entered into or had a material amendment in connection with his appointments, or any grant or award to Mr~~Exhibits. ~~Harper or modification thereto, under any such plan, contract or arrangement in connection with his appointments.~~

~~Item~~(d) 5Exhibits.~~07 Submission of Matters to a Vote of Security Holders.~~

The information required by Item 5.07 relating to the submission of matters to a vote of security holders is contained in Item 5.02 of this Current Report on Form 8-K and is incorporated herein by reference.

Exhibit Number		Description
10.1		Consulting Agreement, dated October 15, 2015, between David E. Wilder and Islet Sciences, Inc.
10.2		Consulting Agreement, dated October 15, 2015, between Larry K. Ellingson and Islet Sciences, Inc.
99.1		Press release announcing appointment of David E. Wilder as Chief Financial Officer and Chief Operating Officer of Islet Sciences, Inc.

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.

	Islet Sciences, Inc.
Dated: September 30, 2015	By:	/s/ Larry K. Ellingson
Dated: October 21, 2015	By:	/s/ Larry K. Ellingson
		Name: Larry K. Ellingson
		Title: Chairman, Chief Executive Officer and President

Exhibit Index

Exhibit Number		Description
10.1		Consulting Agreement dated October 15, 2015, between David E. Wilder and Islet Sciences, Inc.
10.2		Consulting Agreement dated October 15, 2015, between Larry K. Ellingson and Islet Sciences, Inc.
99.1		Press release announcing appointment of David E. Wilder as Chief Financial Officer of Islet Sciences, Inc.

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