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): December 1618, 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
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)
of Incorporation)		Identification No.)

18340 Yorba Linda Blvd.

Suite 107-245

Yorba Linda, CA 92886

(Address of Principal Executive Offices)

Registrant's telephone number, including area code: (866) 878-9695

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 3.0302 ~~Material~~Unregistered ~~Modification~~Sales of ~~Rights~~Equity ~~of Security Holders~~Securities.

On December 1618, 2015, ~~pursuant~~Islet toSciences, ~~Article~~Inc. IV(the of“Company”) ~~the~~sold ~~articles~~an ofaggregate ~~incorporation~~50,000 asshares ~~amended~~of its Series A Convertible Preferred Stock (the “~~Articles~~Series ofA ~~Incorporation~~Preferred”) to a certain investor for an aggregate consideration of ~~Islet~~$30,000. ~~Sciences~~The rights, ~~Inc~~privileges and preferences of the Series A Preferred, including the terms concerning the right to convert into the Company’s common stock, par value $0.001 (the “~~Company~~Common Stock”), was previously disclosed in Item 3.03 of the Company’s Current Report on Form 8-K filed with the ~~Secretary~~Securities ofand ~~State~~Exchange ofCommission ~~the~~on ~~State~~December of22, ~~Nevada~~2015 aand ~~Certificate~~is ofincorporated ~~Designations~~herein ofby ~~Series~~reference. AAs ~~Convertible~~additional ~~Preferred~~consideration ~~Stock~~for (the “purchase of the Series A Preferred, ~~Stock~~the investor will receive a warrant (the “Warrant”), ~~designating~~to 2purchase 250,~~500,~~000 shares of ~~authorized~~the ~~preferred~~Company’s ~~stock,~~Common ~~par value $0~~Stock.~~001.~~ ~~Under~~The ~~the~~Warrant ~~Certificate~~has ofa ~~Designations,~~five ~~such~~(5)-year ~~Series~~term Afrom ~~Preferred~~the ~~Stock~~first ~~has~~available ~~various~~exercise ~~rights~~date, ~~privileges~~which ~~and~~shall ~~preferences,~~occur ~~including:~~following ~~(i)~~the arequisite ~~stated~~increase ~~value~~in authorized shares of ~~$0.60~~Common ~~per~~Stock, ~~share;~~but ~~(ii)~~no ~~conversion~~later ~~into~~than ~~ten~~January ~~(10)~~5, ~~shares~~2017. ofThe ~~Common~~Warrant ~~Stock~~has ~~(subject~~an toexercise ~~adjustments)~~price ~~upon~~equal to the ~~filing~~price ofper ~~the~~share ~~amendment~~paid toby investors in the ~~Articles~~Company’s ofnext ~~Incorporation~~equity tofinancing ~~authorize~~with an ~~increase~~aggregate inamount ~~the~~raised greater than $5,000,000, or an amount ofequal ~~available~~to ~~shares~~200% of ~~Common~~the ~~Stock;~~VWAP ~~and~~for the sixty (~~iii~~60) adays ~~liquidation~~immediately ~~preference~~preceding in the ~~amount~~exercise date per share of Common Stock, in the ~~stated~~event ~~value.~~no ~~The~~such ~~foregoing~~financing ~~description~~occurs ofprior to the ~~Certificate~~first ofavailable ~~Designations~~exercise ofdate. ~~the~~The ~~Series~~foregoing Adescription ~~Convertible~~of ~~Preferred~~the ~~Stock~~Warrant does not purport to be complete and is qualified in its entirety by reference to the ~~complete~~form ~~text~~ of the ~~Certificate of Designation of the Series A Convertible Preferred Stock~~Warrant, which is filed as Exhibit 310.1 ~~hereto~~to this Current Report on Form 8-K and is incorporated herein by reference.

~~Item~~The ~~5.03~~Series ~~Amendments~~A Preferred and the Warrant were issued by the Company pursuant to ~~Articles~~exemptions from registration under the Securities Act of ~~Incorporation~~1933, as amended (the “Securities Act”) in reliance on Section 4(a)(2) and Regulation D promulgated thereunder. The investor represented to the Company that it acquired the securities for investment only and not with a view to or ~~Bylaws;~~for ~~Change~~sale in ~~Fiscal~~connection ~~Year~~with any distribution thereof and appropriate legends were affixed to the securities issued in the transaction. The investor also represented to the Company that it was an accredited investor as defined in Rule 501 promulgated under the Securities Act. The offering was not conducted in connection with a public offering and no public solicitation or advertisement was made or relied upon by the investor in connection with the offering.

The information set forth in Item 3.03 is incorporated into this Item 5.03 by reference.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit Number		Description
3.1		Certificate of Designations of Series A Convertible Preferred Stock for Islet Sciences, Inc.
10.1		Form of Warrant to Purchase Common Stock 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: December 22, 2015	By:	/s/ Larry K. Ellingson
Dated: December 24, 2015	By:	/s/ Larry K. Ellingson
		Name: Larry K. Ellingson
		Title: Chairman, Chief Executive Officer and President

Exhibit Index

Exhibit Number		Description
3.1		Certificate of Designations of Series A Convertible Preferred Stock for Islet Sciences, Inc.
10.1		Form of Warrant to Purchase Common Stock of Islet Sciences, Inc.

Filing Compare · Islet Sciences, Inc.