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): ~~August~~December 1722, 2015

DEER VALLEY CORPORATION

(Exact Name of Registrant as Specified in its Charter)

Florida

000-05388

20-5256635

(State of Incorporation)

(Commission

File Number)

(IRS Employer

Identification Number)


205 Carriage Street, Guin, AL		35570
(Address of principal executive offices)		(Zip code)

(205) 468-8400

(Registrant’s Telephone Number, Including Area Code)

(Former name or former address, if changed since last report)

Check the appropriate box below of the Form 8-K if the 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)).

Unless otherwise indicated or the context otherwise requires, all references below in this Current Report on Form 8-K to “we,” “us,” “Deer Valley” and the “Company” are to Deer Valley Corporation, a Florida corporation, together with its wholly-owned subsidiaries, Deer Valley Homebuilders, Inc., an Alabama corporation, and Deer Valley Finance, Corp., a Florida corporation. Specific discussions or comments relating to Deer Valley Corporation will reference “DVC,” those relating to Deer Valley Homebuilders, Inc. will be referred to as “DVHB”, and those relating to Deer Valley Finance Corp. will be referred to as “DVFC.”

Item 81.01. ~~Other~~Entry ~~Events~~into a Material Definitive Agreement

On ~~August~~December 1722, 2015, Deer Valley entered ~~renewed~~into ~~its~~that ~~existing~~certain ~~revolving~~Secured ~~line of~~Convertible ~~credit~~Note and Security Agreement with ~~Fifth~~BLU ~~Third~~Autoworks ~~Bank~~LLC, ~~and~~a ~~reduced~~Delaware limited liability company (the ~~maximum~~“Borrower”), ~~revolving~~pursuant ~~principal~~to ~~limit~~which ~~from~~Deer ~~Five~~Valley loaned Three Million and No/100 Dollars ($3,000,000) to Borrower ~~Two~~(the ~~Million~~“Initial ~~Five~~Advance”). ~~Hundred~~The ~~Thousand~~Secured Convertible Note provides that Borrower may, as agreed to by Deer Valley, borrower up to an additional One Million and No/100 Dollars (~~the “~~$21,~~500~~000,000) ~~Revolving~~(collectively, ~~Line”~~with the Initial Advance, the “Loan’). The ~~$2,500,000~~Loan ~~Revolving~~bears ~~Line provides~~interest onat a ~~revolving~~rate ~~credit~~of ~~basis~~five ~~display~~percent ~~model~~(5.0%) per ~~financing~~annum, ~~for~~matures ~~dealers~~on June 30, 2016, and is secured by the assets of the Borrower. ~~The~~Deer $2Valley may,~~500~~ at its option,~~000~~ ~~Revolving~~convert ~~Line~~the ~~matures~~outstanding onprincipal ~~July 1~~and interest of the Loan into membership interests in Borrower, ~~2017~~which ~~and~~membership ~~has~~interests ashall ~~variable~~entitle ~~interest~~Deer ~~rate~~Valley to receive, upon liquidation of 4Borrower, shares of Tua Autoworks Holdings S.00à.r.l. (“Tua Luxembourg”) equal to 5.74% ~~above~~of ~~LIBOR~~the outstanding capital shares of Tua Luxembourg, or, if Deer Valle elects to request an independent valuation analysis, such percentage of the shares of Tua Luxembourg as determined by an independent valuation analysis. Tua Luxembourg and Borrower are developing an automobile manufacturing business located in Italy.

OnTony ~~August 17,~~Bonidy ~~2015,~~and ~~Deer~~Lodovico ~~Valley~~de ~~renewed~~Visconti ~~its~~are ~~existing~~members ~~revolving line~~ of ~~credit~~the ~~with~~Board ~~Fifth~~of Directors ~~Third~~of ~~Bank~~Deer Valley, ~~which~~Lodovico ~~provides~~de ~~for~~Visconti ais ~~maximum revolving~~the ~~principal~~sole ~~limit~~manager of ~~Three~~the ~~Million~~Borrower, and ~~No/100~~Tony ~~Dollars ($3~~Bonidy,~~000,000.00)~~ ~~(the~~Lodovico ~~“$3,000,000~~de ~~Revolving~~Visconti ~~Line”).~~and ~~The~~Christophe ~~$3,000,000~~Fender ~~Revolving~~(a ~~Line~~resident ~~provide~~of ~~for~~Luxembourg) ~~short~~are ~~term~~the ~~financing~~sole ~~for~~members of the ~~sale~~Board of ~~retail~~Directors ~~units~~of ~~and~~Tua ~~short-term~~Luxembourg. ~~working~~Tony ~~capital~~Bonidy ~~needs.~~and ~~The~~Lodovico ~~$3,000,000~~de ~~Revolving~~Visconti ~~Line~~directly, ~~matures~~or ~~on July 1~~indirectly, ~~2017~~control ~~and~~the ~~has~~voting acapital ~~variable~~stock ~~interest~~of ~~rate~~Deer ofValley, ~~2.50%~~Borrower, ~~above~~and ~~LIBOR~~Tua Luxembourg.

Item 2.01.

Completion of Acquisition or Disposition of Assets

On December 22, 2015, Deer Valley sold, in a Bargain Sale Exchange, its idle manufacturing plant located in Sulligent, Alabama, and the surrounding thirteen (13) acres (the “Sulligent Property”). Deer Valley sold the Sulligent Property to The Industrial Development Board of the Town of Sulligent Inc., a political subdivision of the State of Alabama and an IRS 561 approved organization (the “Buyer”), for a combined purchase price of One Million One Hundred Fifty Thousand and No/100 Dollars ($1,150,000), comprised of (i) a cash payment by Buyer to Deer Valley of Three Hundred Fifty Thousand and No/100 Dollars ($350,000), and (ii) a charitable contribution made by Deer Valley to Buyer of Eight Hundred Thousand and No/100 Dollars ($800,000). The charitable contribution equaled the difference between the appraised value of the Sulligent Property, as determined by an independent MAI appraiser, and the cash portion of the purchase price paid to Deer Valley by Buyer. The Internal Revenue Code (IRC) 170 Exchange, also known as Bargain Sale, is a transaction which allows a property owner donate its property and receive a “charitable contribution” income tax deduction.

Item 9.01.

Financial Statements and Exhibits

The following exhibits are filed with this Form 8-K:

10.01		~~Fifth~~Secured ~~Amendment~~Convertible ~~To Revolving Credit Loan And Security Agreement ($2,500,000 Revolving Line)~~Note
10.02		~~Renewal~~Security ~~Revolving Credit Note ($3,000,000 Revolving Line)~~Agreement
10.03		~~Fifth~~Bargain ~~Amendment~~Sale ~~To Revolving Credit Loan And Security~~ Agreement ~~($3,000,000~~and ~~Revolving~~Initial ~~Line)~~Escrow Instructions
10.04		Renewal Revolving Credit Note ($3,000,000 Revolving Line)

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.

DEER VALLEY CORPORATION
By:		/s/ ~~Steven~~John S. Lawler
Name:		John Steven Lawler
Title:		Chief Financial Officer and Secretary
Dated:		~~August~~December 1730, 2015

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