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): June 22, ~~2006~~2007

BALLISTIC RECOVERY SYSTEMS, INC.
(Exact name of registrant as specified in its charter)

Minnesota		0-15318		41-1372079
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

300 Airport ~~Road~~ ~~South St. Paul, Minnesota 55401 (Address of principal executive offices)(Zip Code)~~Road

~~(651)~~South ~~457-7491 (Registrant’s~~St. ~~telephone number~~Paul, ~~including~~Minnesota ~~area code)~~55401

(Address of principal executive offices)(Zip Code)

(651) 457-7491

(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:

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 into a Material Definitive Agreement.

On June 22, ~~2006 and June 23~~2007, ~~2006,~~ Ballistic Recovery Systems, Inc. (the “Company”), ~~accepted~~entered ~~subscriptions from~~into ~~certain~~a ~~directors~~Securities ~~and~~Purchase ~~executive~~Agreement ~~officers of~~ (the ~~Company relating to the~~“Securities ~~issuance~~Purchase ofAgreement”) ~~322,956~~with ~~shares~~CIMSA ofIngenieria ~~common~~de ~~stock~~Sistema, ~~and~~S.A., ~~warrants~~a toSpanish ~~acquire 16,401~~company ~~shares~~(“CIMSA”) ofpursuant ~~common~~to ~~stock~~which ~~for~~CIMSA aninvested ~~aggregate~~$1.5 ~~purchase~~million ~~price~~in ofthe ~~$439,220.~~Company ~~The~~in ~~warrants~~exchange ~~have~~for a1,102,941 ~~three-year~~shares ~~term~~of ~~and~~Company anCommon ~~exercise~~Stock ~~price~~(the of“Common ~~$2.00~~Shares”) ~~per share~~ and ~~have~~a ~~piggy-back~~three ~~registration~~year ~~rights.~~warrant ~~The~~(the ~~Company~~“Warrant”) ~~paid~~to noacquire ~~underwriting~~275,735 ~~discounts or~~shares ~~commissions~~of inCompany Common ~~connection~~Stock ~~with~~at ~~these~~$2.00 ~~sales~~per share.

AsPursuant ~~part~~to ~~of such issuance,~~ the ~~Company~~Securities ~~issued~~Purchase ~~257~~Agreement,~~353 shares~~ ~~of Common Stock to Darrel Brandt, a director of~~ the Company, atand ~~a purchase~~CIMSA ~~price~~also ~~of $1.36 per share for an aggregate purchase price of $350,000.~~agreed:

In1. Board Nominee ~~consideration~~– ~~for~~The ~~such~~Company ~~investment,~~would appoint to the Company ~~agreed~~’s toBoard ~~amend~~of ~~that~~Directors ~~certain~~one nominee ~~Buy-Sell~~of ~~Agreement~~CIMSA ~~dated~~(the ~~May 6~~“CIMSA Nominee”) and, ~~1993~~so bylong ~~and~~as CIMSA beneficially owns ~~between~~at least 75% of the ~~Company~~Common Shares, nominate the ~~Darrel~~CIMSA D.Nominee ~~Brandt~~for ~~Profit~~election ~~Sharing~~at the ~~Plan~~Company ~~and~~shareholder ~~Darrell~~meeting at which directors are elected. The Securities Purchase Agreement provides ~~Brandt,~~that tothe ~~eliminate~~CIMSA Nominee would resign from the Company’s ~~option~~Board within 24 hours if CIMSA ceases to ~~purchase~~own ~~1,000,000~~75% of Mrthe Common Shares. ~~Brandt’s~~ ~~common~~CIMSA ~~stock,~~has ~~issued~~indicated into ~~1993,~~the atCompany athat ~~25%~~Fernando ~~discount~~Caralt, toPresident ~~the~~of CIMSA, ~~proposed~~is ~~sale~~the ~~price~~CIMSA Nominee.

2. Subsequent Agreements – The ~~disclosure~~Company ~~about~~and ~~the~~CIMSA ~~foregoing~~agreed ~~agreements~~to ~~and instruments,~~negotiate and ~~the~~execute ~~related~~three agreements ~~private~~by ~~placement~~August 31, ~~contained~~2007: in(a) ~~this~~a ~~report~~manufacturing ~~does~~agreement pursuant to which ~~not~~CIMSA ~~constitute~~shall ansubcontract ~~offer~~certain manufacturing to ~~sell~~the orCompany for a ~~solicitation~~three ofyear period; an(b) ~~offer~~a todevelopment ~~buy~~agreement ~~any securities~~pursuant ofto which the Company, ~~and~~shall subcontract iswith ~~made~~CIMSA ~~only~~for ascertain ~~required~~development ~~under~~and ~~applicable~~design ~~rules for~~services; and (c) a ~~filing~~one ~~current~~year ~~reports~~consulting agreement with ~~the~~Fernando ~~United~~Caralt ~~States~~to ~~Securities~~provide ~~and Exchange~~certain ~~Commission,~~consulting ~~and~~services asto ~~permitted~~the ~~under~~Company ~~Rule 135c~~for ~~under~~cash ~~the~~compensation ~~Securities~~not ~~Act~~to exceed $50,000.

3. Registration Rights – The Company agreed to file a registration statement on Form SB-2 within 90 days for the purpose of registering the resale of the Shares.

4. Right of First Refusal on Private Stock Sale – The Company and CIMSA agreed that the Company would have the right of first refusal for a minimum of 25% of any shares privately offered for sale by CIMSA (i.e., not sold pursuant to an effective Registration Statement or Rule 144 of the Securities Act of 1933).

The above summary is qualified in its entirety by reference to the Securities Purchase Agreement and form of Warrant which are attached hereto as exhibits.

Item 3.02. Unregistered Sales of Equity Securities.

OnAs ~~June 22,~~referenced ~~2006~~above ~~and~~under ~~June 23,~~Item ~~2006~~1.01, ~~Ballistic~~ ~~Recovery~~on ~~Systems~~June 25, ~~Inc.~~ (2006, the “Company”) ~~accepted~~issued ~~subscriptions from~~1,102,941 ~~five~~shares ~~directors~~of ~~and~~Common ~~executive~~Stock ~~officers~~and ofa ~~the~~warrant ~~Company relating~~ to ~~the~~purchase ~~issuance~~an ofadditional ~~322~~275,~~956~~735 shares of ~~common~~Common ~~stock~~Stock ~~and warrants~~ to ~~acquire~~CIMSA. The ~~16,401 shares~~warrant ofhas ~~common~~a ~~stock~~three-year ~~for~~term and an exercise ~~aggregate purchase~~ price of $~~439,220~~2.00 per share. The ~~warrants~~Company ~~have~~received agross ~~three-year~~proceeds ~~term~~from ~~and~~the ansale ~~exercise~~of ~~price~~Common ofStock and Warrant of $21,500,000.00 The ~~per~~Company ~~share~~has ~~and~~agreed to ~~have~~register ~~piggy-back~~the ~~registration~~resale ~~rights.~~of ~~The~~the ~~Company~~Common ~~paid~~Stock noand ~~underwriting~~the ~~discounts~~Common Stock issuable upon orexercise ~~commissions~~of inthe ~~connection~~Warrant. There was no placement agent involved with ~~these~~this ~~sales~~transaction.

For these issuances, the Company relied on the exemption from federal registration under Section 4(2) of the Securities Act of 1933, and/or Rule 506 promulgated thereunder. ~~The~~ The Company relied on this exemption and/or the safe harbor rule ~~thereunder~~ thereunder based on the fact that (i) there ~~were~~was ~~only~~one ~~five~~investor ~~investors,~~who ~~all of whom, either alone or through a purchaser representative,~~ had knowledge ~~and~~ and experience in financial and business matters such that ~~each~~it was capable of evaluating the risks of the investment, and (ii) the Company has obtained ~~subscription~~representations ~~agreements from the investors~~ indicating that ~~they~~it ~~are~~was an accredited ~~investors~~ investor and purchasing for investment only.

The securities sold in these issuances were not registered under the Securities Act and therefore may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. The disclosure about the private placement and related agreements contained in this report does not constitute an offer to sell or a solicitation of an offer to buy any securities of the Company, and is made only as required under applicable rules for filing current reports with the United States Securities and Exchange Commission, and as permitted under Rule 135c under the Securities Act.2

~~SIGNATURE~~Item 5.02 Election of Directors.

~~Pursuant~~On toJune 25, 2007, the ~~requirements~~Board of ~~the~~Directors ~~Securities~~of the ~~Exchange~~Company, ~~Act~~pursuant ofto ~~1934~~the CIMSA Securities Purchase Agreement, increased the Board ~~registrant~~size ~~has~~from ~~duly~~six ~~caused~~to ~~this~~seven ~~report~~and appointed Fernando Carault to beserve ~~signed~~ on ~~its~~the Board ~~behalf~~of Directors. Mr. Carault is currently President of CIMSA which has utilized the Company’s manufacturing services during Fiscal 2007. No determination has been made by the ~~undersigned~~Board ~~hereunto~~of ~~duly~~Directors ~~authorized~~with respect to any Board Committee appointments for Mr. Carault.

		BALLISTIC REVOERY SYSTEMS, INC.
Date: June 28, 2006	By:	/s/ Don Hedquist
		Don Hedquist, Chief Financial Officer

Item 8.01 Other Events.

On June 25, 2007, the Company issued a press release relating to the disclosures set forth in Items 1.01 and 3.02 above. A copy of the press release is being furnished to the Securities and Exchange Commission and is attached as Exhibit 99.1 to this Form 8-K.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

4.1		Form of Warrant dated June 25, 2007

10.1		Securities Purchase Agreement dated June 22, 2007 by and between the Company and CIMSA.

99.1		Press Release dated June 25, 2007

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.

	BALLISTIC REVOERY SYSTEMS, INC.


Date: June 26, 2007	By:	/s/ Larry E. Williams
		Larry E. Williams, Chief Executive Officer

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