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 1116, 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.)

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 83.0103 ~~Other~~Material ~~Events~~Modification of Rights of Security Holders.

On December 1116, 2015, pursuant to Article IV of the articles of incorporation, as amended (the “Articles of Incorporation”) of Islet Sciences, Inc. (the “Company”), the Company filed ~~suit~~with inthe ~~state~~Secretary ~~court~~of inState ~~North~~of ~~Carolina~~the ~~against~~State ~~Brighthaven~~of ~~Ventures,~~Nevada ~~L.L.C.~~a Certificate of Designations of Series A Convertible Preferred Stock (the “~~BHV~~Series A Preferred Stock”), ~~its~~designating ~~principals~~2,500,000 ~~James~~shares ~~Green~~of ~~and~~authorized ~~William~~preferred ~~Wilkison~~stock, ~~Ofsink~~par ~~LLC~~value ~~and~~$0.001. ~~Darren~~Under ~~Ofsink~~the Certificate of Designations, ~~Esq.~~such ~~Messrs.~~Series ~~Green~~A ~~and~~Preferred ~~Wilkison~~Stock ~~were~~has ~~formerly~~various ~~officers~~rights, privileges and ~~directors~~preferences, ofincluding: ~~the~~(i) ~~Company.~~a Mrstated value of $0.60 ~~Green~~per ~~was~~share; ~~chief~~(ii) ~~executive~~conversion ~~officer~~into ~~from~~ten ~~October~~(10) ~~30,~~shares ~~2013~~of toCommon ~~August~~Stock ~~22,~~(subject ~~2015~~to ~~and~~adjustments) ~~director~~upon ~~from~~the ~~October~~filing ~~30,~~of ~~2013~~the amendment to ~~September~~the ~~24,~~Articles ~~2015,~~of ~~including~~Incorporation ~~acting~~to asauthorize ~~chairman~~an ofincrease in the ~~board~~amount of ~~directors~~available shares of ~~the~~Common ~~Company~~Stock; ~~from~~and ~~January~~(iii) ~~24,~~a ~~2014~~liquidation topreference ~~September~~in ~~24,~~the ~~2015.~~amount Mrof the stated value. ~~Wilkison~~The ~~was~~foregoing ~~chief~~description ~~operating~~of ~~officer~~the ~~from~~Certificate ~~October~~of ~~30,~~Designations ~~2013~~of tothe ~~August~~Series ~~22,~~A ~~2015~~Convertible Preferred Stock does not purport to be complete and ~~director~~is ~~from~~qualified ~~April~~in ~~11,~~its ~~2014~~entirety by reference to ~~September~~the ~~24,~~complete ~~2015.~~text ~~Mr.~~of ~~Ofsink~~the ~~and~~Certificate ~~his~~of ~~firm,~~Designation ~~Ofsink~~of ~~LLC~~the Series A Convertible Preferred Stock, ~~were~~which ~~formerly~~is ~~outside~~filed ~~counsel~~as toExhibit ~~the~~3.1 ~~Company~~hereto and is incorporated herein by reference.

InItem its complaint, the Company asserts that the defendants committed fraud upon and/or conspired to defraud the Company and its stockholders by knowingly making false statements and omissions to the Company, its stockholders and its investors, particularly, but not exclusively, during (i) an attempted merger transaction by and among the Company, its subsidiaries, BHV and its members (including defendants Green and Wilkison), and (ii) a subsequent license transaction between the Company and BHV5.03 ~~The~~Amendments ~~Company further alleges that defendants Green and Wilkison breached their fiduciary duties~~ to ~~the~~Articles Company and its stockholders by usurping the Company’s corporate opportunities for their own personal gain and taking actions designed to harm the Company and its stockholders. The Company alleges that defendants Ofsink and Ofsink LLC aided and abetted the breach of ~~fiduciary~~Incorporation ~~duty~~or ~~owed~~Bylaws; byChange ~~Messrs. Green and Wilkison, and participated~~ in ~~the~~Fiscal ~~illegal scheme to defraud the Company by, among other things, failing to protect the interests of their client, the Company~~Year. ~~The Company believes these actions materially impacted the Company’s operations and financial condition, and is seeking judgment against the defendants for damages in excess of $5,000,000.~~

~~Although~~The ~~the~~information ~~Company~~set ~~cannot~~forth ~~predict~~in ~~the~~Item ~~ultimate~~3.03 ~~outcome~~is ofincorporated into this ~~litigation,~~Item ~~it hopes for a just and speedy resolution~~5.03 ~~The~~by current Board of Directors and officers of the Company remain committed to working towards the development of new medicines and technologies for the treatment of metabolic diseases and related indications where there is significant medical needreference.

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.

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 17, 2015	By:	/s/ Larry K. Ellingson
Dated: December 22, 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.

Filing Compare · Islet Sciences, Inc.