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 earliest event reported: May 527, 2010:

Mirenco, Inc.

(Exact name of registrant as specified in its charter)

Iowa 333-41092 39-1878581

(State or other jurisdiction (Commission File Number) (I.R.S. Employer

of Identification No.)

incorporation or

organization)

206 May Street, P.O. Box 343, Radcliffe, Iowa 50230

(Address of principal executive offices) (Zip Code)

(515)899-2164

Registrant's telephone number, including area code:

____________________________________________________

(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):

[ ] 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 MATERIAL AGREEMENT~~#1845692

OnItem ~~April 30, 2010, Mirenco amended the terms of its contract with Whayne Supply company, signed January 13, 2009~~3. ~~Under~~02 ~~the~~Unregistered ~~terms~~Sales of the Amendment, Exhibit B, Definitions and Interpretations has been amended to reflect new minimum sales requirements. The parties hereby agree that except as expressly provided herein, the Agreement shall remain in full force and effect without alteration or amendment.Securities

On May 26, 2010, the board of Directors adopted the Amended and Restated Certificate of Designation of Series A ~~copy~~Preferred Stock of Mirenco, Inc. (the ~~Agreement~~“Certificate”). This isseries ~~attached~~of ~~hereto~~the Company’s no par value preferred stock will be represented by a single series, Series A Preferred Stock. The number of shares constituting the Series A Preferred Stock will be 5,000,000 which may be decreased from time to time, but not increased. The holders of Series A Preferred Stock will be entitled to receive cumulative dividends per share at the rate of 6.0% per year on the Redemption Price (defined in the Certificate as ~~Exhibit~~$.10 per share), payable upon declaration by the Board of Directors. The Company will be obligated to redeem all outstanding shares of Series A Preferred Stock on December 31, 2015, at the Redemption Price and to pay any accrued but unpaid dividends thereon. Any time, or from time to time, after December 31, 2011, the Company may redeem any or all outstanding shares of Series A Preferred Stock upon thirty days advance written notice to the holder and payment of the Redemption Price of $.10 per share plus all accrued and unpaid dividends up to the date of redemption.1 Commencing on the date of issue, each share of Series A Preferred Stock and any accrued by unpaid dividends thereon shall be convertible, at the option of the holder thereof, into fully paid and nonassessable shares of Common Stock.

The shares of the Series A Preferred Stock will be offered and sold in reliance on exemptions from registration pursuant to Section 4(2) under the Securities Act of 1933, as amended, and Rule 506 promulgated thereunder, based on the nature of the investors and certain representations made to us. The maximum aggregate offering price for the shares of Series A Preferred Stock is $500,000.

The Company filed the Certificate with the Iowa Secretary of State on May 27, 2010.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

Exhibit

Number

Description

3.1

Amended and Restated Certificate of Designation filed with Iowa Secretary of State May 27, 2010.

Exhibit Number		Description
10.1		First Amendment to Distributor Agreement

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.

	MIRENCO, INC.
Date: May 5, 2010	By:	/s/ DWAYNE FOSSEEN
Date: June 4, 2010	By:	/s/ DWAYNE FOSSEEN
		Dwayne Fosseen
		Chief Executive Officer(Principal Executive Officer)

~~FIRST~~Exhibit ~~AMENDMENT~~3.1

TOAMENDED AND RESTATED CERTIFICATE OF DESIGNATION

~~DISTRIBUTOR~~SERIES ~~AGREEMENT~~A ~~BETWEEN~~PREFERRED ~~Mirenco, Inc. and Whayne Supply Company~~STOCK

This First Amendment to DISTRIBUTOR AGREEMENT BETWEEN Mirenco, Inc. and Whayne Supply Company (the “Amendment”) is entered into on April 30, 2010, by and among Mirenco, Inc., 206 May Street, Radcliffe, Iowa, 50230 and Whayne Supply Company, having a place of ~~business at 1400 Cecil Avenue, Louisville, Kentucky, 40211-1626.~~

~~RECITALS~~MIRENCO, INC.

The following constitutes the amended and restated designation of the Series A Preferred Stock of Mirenco, Inc. (the “Company”) as adopted by the Board of Directors on May 26, 2010 pursuant to Section 490.602 of the Iowa Business Corporation Act.

OnDESIGNATION ~~January~~AND ~~13, 2009, Mirenco, Inc. and Whayne Supply Company entered into a DISTRIBUTOR AGREEMENT BETWEEN Mirenco, Inc. and Whayne Supply Company (the “Agreement’).~~NUMBER

The Parties desire to amend the Agreement as set forth in this Amendment.

AGREEMENT

Amendment.

1.1

~~Exhibit~~This B,series ~~Definitions~~of ~~and~~the ~~Interpretations~~Company’s no par value preferred stock (“Preferred Stock”) shall be represented by a single series designated as the Series A Preferred Stock (the “Series A Preferred Stock”). The number of shares constituting the ~~Agreement~~Series isA ~~hereby~~Preferred ~~deleted~~Stock inshall ~~its~~be ~~entirety~~5,000,000 ~~and~~which ~~replaced~~number ~~with~~may be decreased from time to time, but not increased, by the ~~following:~~vote of the Board of Directors.

~~Exhibit B, Definitions and Interpretations~~1.2

~~“Affiliate”~~Capitalized ~~means~~terms ~~any~~used ~~direct~~herein orand ~~indirect~~not ~~subsidiary~~otherwise ordefined ~~parent~~shall ~~company~~have ~~of a Party, or any other Company which is 20% or more owned, directly or indirectly, by a Party or by~~ the ~~majority~~meanings ~~owner~~set offorth ~~a Party~~below.

~~“Change of Control” shall have occurred if (a) the Distributor sells all or substantially all of its assets; or (b) Monty Boyd is no longer the President of the Distributor~~1.2.1

“~~Company~~Common Stock” means anthe ~~individual,~~Common ~~corporation~~Stock, ~~limited~~no ~~liability~~par ~~company~~value ~~(LLC),~~per ~~partnership~~share, ~~unincorporated~~of ~~organization~~the Company, or any other ~~entity~~capital stock of the Company into which such stock is reclassified or reconstituted.

~~“Competing Products” means products manufactured by Companies other than Mirenco or its Affiliates which compete with the Products~~1.2.2

“~~Event of Default~~Person” means ~~the~~any ~~occurrence~~individual, offirm, ~~one~~corporation, partnership, trust, limited liability company, incorporated or ~~more~~unincorporated association, joint venture, joint stock company, government (or an agency or political subdivision thereof) or other entity of ~~the~~any ~~following~~kind, ~~circumstances:~~and shall include any successor (by merger or otherwise) of such entity.

~~(a)~~1.2.3

a“Redemption ~~Party~~Price” ~~provides~~means ~~materially~~$ ~~inaccurate~~0.10 ~~information~~per ~~to the other Party;~~share.

(b)

the Distributor breaches a legal or ethical duty owed to Mirenco, or takes any action that would bring disrepute to, or harm the commercial goodwill of, Mirenco, the Products or the Licensed Trademarks;

(c)

a Party is in material breach of any of its obligations under this Agreement;

(d)

a Party takes any action to liquidate, dissolve or wind-up its business;

(e)

a Party applies to be put in bankruptcy, takes any action that would permit its creditors to make an application to put such Party in bankruptcy, is adjudged or declared bankrupt or makes an assignment for the benefit of creditors, consents to a proposal or similar action under any bankruptcy or insolvency legislation applicable to it, or commences any other proceedings relating to it under any bankruptcy, reorganization or dissolution law or statute of any jurisdiction, or consents to any such proceeding;

(f)

a custodian, liquidator, receiver, receiver and manager, receiver-manager, trustee or any other person with similar powers is appointed for such Party or in respect of any material property or assets or material part of the property or assets of such Party; or

(g)

a final, non-appealable, decision of any judicial, administrative, governmental or other authority or arbitrator is made which enjoins or restrains, or renders illegal or unenforceable, the performance or observance by a Party of any material term of this Agreement.

“Intellectual Property” means all rights held by a Party (by ownership or under license) in and to various inventions and trade secrets, including any patent, patent application (whether now existing or pending or whether obtained or applied for after the date of this Agreement), industrial design, invention, design, trade secret, idea, work, methodology, technology, innovation, creation, concept, moral right, development drawing, research, analysis, know-how, experiment, copyright, data, formula, method, procedure, process, system or technique and the goodwill associated with the foregoing, but does not include trademarks or tradenames.

“Licensed Trademarks” means the trademarks, tradenames or logos listed on Exhibit F, as revised by Mirenco from time to time in its sole discretion.

“Minimum Purchase Obligation” means that prior to the end of each of the following twelve-month periods, Distributor shall have purchased from Mirenco, and Mirenco shall have received full payment for, Products and Services in the following amounts:

For the Twelve Months Ending on the Following Dates	Twelve-month Minimum	Cumulative Minimum
June 1, 2011	$ 1,000,000	$ 1,000,000
June 1, 2012	2,000,000	3,000,000
June 1, 2013	4,000,000	7,000,000
June 1, 2014	6,000,000	13,000,000
June 1, 2015	9,000,000	22,000,000
Thereafter	To be determined by mutual agreement of the Parties

“Mirenco Confidential Information” means information known or used by Mirenco in connection with its business and technology, including Mirenco’s Intellectual Property, customer information, financial information, marketing information, and information as to business opportunities and research and development.

~~Remaining Agreement Unaltered. The parties hereby agree that except as expressly provided herein, the Agreement shall remain in full force and effect without alteration or amendment.~~RANKING

~~[END~~The OFSeries ~~AGREEMENT~~A ~~-SIGNATURE~~Preferred ~~PAGE~~Stock ~~FOLLOWS]~~shall, with respect to dividend rights and rights on liquidation, dissolution or winding up, rank in relation to all other equity securities of the Company and any other series or class of the Company’s preferred or common stock, now or hereafter authorized, in accordance with the provisions of this Certificate.

~~[ MIRENCO ]:~~3.

~~__________________________________~~DIVIDENDS and Distributions

~~By:~~The ~~_______________________________~~holders of shares of Series A Preferred Stock shall be entitled to receive cumulative dividends per share each year at the rate of 6.0% per year on the Redemption Price, payable upon declaration by the Board of Directors out of any assets legally available therefor, prior and in preference to any declaration of any dividend (payable other than in Common Stock or other securities and rights convertible into or entitling the holder thereof to receive, directly or indirectly, additional shares of Common Stock of this Corporation) on the Common Stock, or any series of Preferred Stock ranking junior to the Series A Preferred Stock, of this Corporation.

~~Its: _______________________________~~4.

~~Date:~~VOTING RIGHT ~~_____________________________~~Except as otherwise required by law, the holders of shares of Series A Preferred Stock shall not have voting rights.

~~[ WHAYNE SUPPLY ]~~5.

~~__________________________________~~REDEMPTION The Company shall redeem all outstanding shares of Series A Preferred Stock on December 31, 2015, at the Redemption Price and pay any accrued but unpaid dividends thereon. Any time, or from time to time, after December 31, 2011, the Company may redeem any or all outstanding shares of Series A Preferred Stock upon thirty (30) days advance written notice to the holder and payment of the Redemption Price plus all accrued and unpaid dividends up to the date of redemption.

~~By: _______________________________~~6.

~~Its: _______________________________~~LIQUIDATION, DISSOLUTION OR WINDING UP

~~Date: _____________________________~~6.1

In the event of any liquidation, dissolution or winding up of the Company, either voluntary or involuntary, before any distribution or payment is made to any holder of Common Stock, or any series of Preferred Stock ranking junior to the Series A Preferred Stock, the holders of shares of Series A Preferred Stock shall first be entitled to be paid in full in an amount equal to (i) the Redemption Price plus (ii) an amount equal to all accrued but unpaid dividends on such Shares accrued up to such date of distribution or payment, with respect to each share of Series A Preferred Stock (in the aggregate, the “Preference Payment”).

6.2

If, upon any liquidation, dissolution or winding up of the Company, the assets of the Company available for distribution to the holders of Series A Preferred Stock shall be insufficient to permit payment in full to such holders of the Preference Payment, then all of the assets available for distribution to holders of the Series A Preferred Stock shall be distributed among and paid to such holders ratably in proportion to the amounts that would be payable to such holders if such assets were sufficient to permit payment in full.

6.3

If, in the event of any liquidation, dissolution or winding up of the Company, either voluntary or involuntary, holders of Series A Preferred Stock shall have been paid the Preference Payment in full, the remaining net assets of the Company shall be distributed ratably to the holders of Common Stock, and holders of all other series of Preferred Stock in accordance with the rights and preferences of such other Preferred Stock.

6.4

The consolidation or the merger of the Company with or into any other Person or the sale or other distribution to another Person of all or substantially all the assets, property or business of the Company, shall be deemed to be a liquidation, dissolution or winding up of the Company for purposes of this Section 6.

CONVERSION TO COMMON STOCK

7.1

Right to Convert/Automatic Conversion. Commencing on the date of issue, each share of Series A Preferred Stock and any accrued but unpaid dividends thereon shall be convertible, at the option of the holder thereof, into fully paid and nonassessable shares of Common Stock in accordance with this Section 7.

7.2

Number of Shares of Common Stock Issuable upon Conversion. Each share of Series A Preferred Stock shall be convertible into one share of Common Stock. The number of shares of Common Stock to be issued in exchange for accrued but unpaid dividends on converted shares of Series A Preferred Stock at the time of conversion shall be the whole number determined by dividing the amount of such accrued but unpaid dividends by the Redemption Price. Any remainder amount shall be paid in cash. No fractional shares of Common Stock shall be issued pursuant to a conversion of Series A Preferred Stock.

7.3

Antidilution Adjustments.

7.3.1

Subdivision, Combination or Reclassification of Common Stock. If the Company shall, at any time or from time to time, (1) subdivide the outstanding Common Stock, (2) combine the outstanding Common Stock into a smaller number of shares, or (3) issue any shares of its capital stock in a reclassification of the Common Stock (including any such reclassification in connection with a consolidation or merger in which the Company is the continuing corporation), then in each such case, the Conversion Price in effect at the time of the effective date of such subdivision, combination or reclassification shall be adjusted to that price which will permit the number of shares of Common Stock into which the Series A Preferred Stock may be converted to be increased or reduced in the same proportion as the number of shares of Common Stock is increased or reduced in connection with such dividend, subdivision, combination or reclassification. Any such adjustment shall become effective immediately after the effective date of such subdivision, combination or reclassification. Such adjustment shall be made successively whenever any event listed above shall occur.

7.3.2

Fractional Shares. Notwithstanding any other provision of this Certificate, the Company shall not be required to issue fractions of shares upon conversion of any shares of Series A Preferred Stock or to distribute certificates which evidence fractional shares. In lieu of fractional shares, the Company shall pay therefor, at the time of any conversion of shares of Series A Preferred Stock as herein provided, an amount in cash equal to such fraction multiplied by the fair market value of a share of Common Stock on such date, as determined in good faith by the Board of Directors of the Company.

7.4

Reorganization, Reclassification and Merger Adjustment. If there occurs any capital reorganization or any reclassification of the Common Stock of the Company, the consolidation or merger of the Company with or into another Person (other than a merger or consolidation of the Company in which the Company is the continuing corporation and which does not result in any reclassification or change of outstanding shares of its Common Stock) or the sale or conveyance of all or substantially all of the assets of the Company to another Person, then each share of Series A Preferred Stock shall thereafter be convertible into the same kind and amounts of securities (including shares of stock) or other assets, or both, which were issuable or distributable to the holders of outstanding Common Stock of the Company upon such reorganization, reclassification, consolidation, merger, sale or conveyance, in respect of that number of shares of Common Stock into which such share of Series A Preferred Stock might have been converted immediately prior to such reorganization, reclassification, consolidation, merger, sale or conveyance; and, in any such case, appropriate adjustments (as determined in good faith by the Board of Directors of the Company) shall be made to assure that the provisions set forth herein (including provisions with respect to changes in, and other adjustments of, the Conversion Price) shall thereafter be applicable, as nearly as reasonably may be practicable, in relation to any securities or other assets thereafter deliverable upon the conversion of the Series A Preferred Stock.

7.5

Mechanics of Optional Conversion. The option to convert shall be exercised by surrendering for such purpose to the Company, at the principal office of the Company, duly endorsed in blank or accompanied by proper instruments of transfer, and at the time of such surrender, the Person in whose name any certificate for shares of Common Stock shall be issuable upon such conversion shall be deemed to be the holder of record of such shares of Common Stock on such date, notwithstanding that the share register of the Company shall then be closed or that the certificates representing such Common Stock shall not then be actually delivered to such Person.

7.6

Reservation of Common Stock. The Company shall at all times reserve and keep available for issuance upon the conversion of the shares of Series A Preferred Stock, the maximum number of its authorized but unissued shares of Common Stock sufficient to permit the conversion of all outstanding shares of Series A Preferred Stock, and shall take all action required to increase the authorized number of shares of Common Stock if at any time there shall be insufficient authorized but unissued shares of Common Stock to permit such reservation or to permit the conversion of all outstanding shares of Series A Preferred Stock.

7.7

No Conversion Charge or Tax. The issuance and delivery of certificates for shares of Common Stock upon the conversion of shares of Series A Preferred Stock shall be made without charge to the holder of shares of Series A Preferred Stock for any issue or transfer, or other incidental expense in respect of the issuance or delivery of such certificates or the securities represented thereby, all of which taxes and expenses shall be paid by the Company.

NOTICE OF CERTAIN EVENTS

8.1

Notice. Prior to taking any of the following actions, the Company shall mail to each holder of shares of Series A Preferred Stock at such holder’s address as it appears on the transfer books of the Company, a written notice of such proposed action.

8.1.1

to declare or pay any dividend payable in stock of any class to the holders of Common Stock or to make any other distribution to the holders of Common Stock,

8.1.2

to offer to the holders of Common Stock, as a class, rights or warrants to subscribe for or to purchase any additional shares of Common Stock or shares of stock of any class or any other securities, rights or options,

8.1.3

to effect any reclassification of its Common Stock,

8.1.4

to effect any consolidation, merger or sale, transfer or other disposition of all or substantially all of the property, assets or business of the Company which would, if consummated adjust the Conversion Price or the securities issuable upon conversion of shares of Series A Preferred Stock, or

8.1.5

to effect the liquidation, dissolution or winding up of the Company.

8.2

Contents. The written notice required by Section 8.1 shall specify:

8.2.1

the date on which a record is to be taken for the purpose of such dividend, distribution or rights or warrants or, if a record is not to be taken, the date as of which the holders of shares of Common Stock or record to be entitled to such dividend, distribution or rights are to be determined, or

8.2.2

the date on which such reclassification, consolidation, merger, sale, conveyance, dissolution, liquidation or winding up is expected to become effective, and such notice shall be so given as promptly as possible but in any event at least ten (10) business days prior to the applicable record, determination or effective date, specified in such notice.

IN WITNESS WHEREOF, this Amended and Restated Certificate of Designation of Series A Preferred Stock has been executed on behalf of the Company on this ____ day of _________, 2010.

MIRENCO, INC.

By: ________________________________

Dwayne L. Fosseen, CEO

Filing Compare · MIRENCO INC