TRAILBLAZER RESOURCES INC. (Form: 8-K, Received: 10/27/2011 14:41:25)

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): October 21, 2011

TRAILBLAZER RESOURCES, INC.

(Exact name of registrant as specified in its charter)

Nevada		000-52397		88-0409170
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

c/o Grant Morris Dodds, 2520 St Rose Parkway, Suite 319, Henderson NV 89074

(Address of principal executive offices) (Zip Code)

(800) 787-5439

( Registrant’s telephone number, including area code)

Energy Composites Corporation, 4400 Commerce Drive, Wisconsin Rapids, WI 54494

(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 2.01

Completion of Acquisition or Disposition of Assets.

On October 21, 2011, the registrant completed the sale of its wholly-owned subsidiary, ECC Corrosion, Inc. (“ ECC-C ”) to Jamie Lee Mancl and Jennifer Lynn Mancl and entities affiliated with the them (collectively, the “ Mancls ”) in exchange for substantially all of the Mancls’ shares of the registrant’s common stock, pursuant to the terms of a Stock Purchase Agreement dated August 12, 2011 (the “ ECC-C Sale ”). Upon cancellation of these shares, the number of shares outstanding will be reduced to 22,720,228.

Immediately prior to the closing of the sale of ECC-C, Jamie Lee Mancl and Jennifer Lynn Mancl were officers and directors of both the registrant and ECC-C and owned beneficially approximately 52.6% of the outstanding shares.

The Stock Purchase Agreement was filed as an exhibit to the registrant’s current report on Form 8-K on August 19, 2011.

Item 5.02

Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

All of the officers and directors of the registrant resigned as of October 21, 2011, with the exception of Samuel W. Fairchild. The number of directors has been reduced to three and Mr. Fairchild, as the remaining director, has appointed Mark Huelskamp and Michael Murray to fill the two vacancies on the board. Mr. Fairchild will serve as the registrant’s President and Interim Chief Financial Officer and Mr. Murray will serve as the registrant’s corporate Secretary.

There was no arrangement or understanding between Messrs. Huelskamp and Murray and the registrant, pursuant to which they were selected as directors.

In January 2010, Mr. Huelskamp loaned $30,000 to the registrant. In August 2010, Mr. Huelskamp agreed to accept 12,428 shares of the registrant’s common stock as full payment of the loan.

Item 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.

Effective October 17, 2011, the registrant’s Articles of Incorporation were amended to change the name of the registrant to “Trailblazer Resources, Inc.”

Item 5.07 Submission of Matters to a Vote of Security Holders.

At a special meeting of the registrant’s stockholders held on October 12, 2011, the stockholders approved the ECC-C Sale and the amendment to the Articles of Incorporation changing the name to “Trailblazer Resources, Inc.” The following table shows the number of votes cast for, against, and abstentions on each matter:

	For	Against	Abstentions
Sale of ECC-C	24,191,108	0	0
Amendment to Articles of Incorporation	24,191,108	0	0

Item 8.01 Other Information.

In connection with the change of the registrant’s name, the new CUSIP number for the registrant’s common stock is 89278P 102 and the new trading symbol for the common stock is “TBLZ”.

Item 9.01 Financial Statements and Exhibits.

Regulation S-K Number	Document
3.1	Certificate of Amendment to Articles of Incorporation
99.1	Unaudited Pro Forma Condensed Consolidated Financial Statements

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.

	TRAILBLAZER RESOURCES, INC.

October 26, 2011	By:	/s/ Samuel W. Fairchild
		Samuel W. Fairchild
		Chief Executive Officer

EXHIBIT 3.1

CERTIFICATE OF AMENDMENT TO ARTICLES OF INCORPORATION

EXHIBIT 99.1

UNAUDITED PRO FORMA CONDENSED CONSOLIDATED

FINANCIAL STATEMENTS

Unaudited Pro Forma Condensed Consolidated Financial Statements

The following unaudited pro forma condensed consolidated financial statements are based on the historical financial statements of Energy Composites Corporation after giving effect to the sale of all of the issued and outstanding shares of ECC Corrosion, Inc. (“ ECC-C ”). This disposition of ECC-C comprises substantially of the assets of the Company.

Set forth below are the unaudited pro forma condensed consolidated balance sheet as at June 30, 2011 assuming the transaction occurred as of June 30, 2011 and the unaudited pro forma consolidated statements of operations for the six months ended June 30, 2011 and the year ended December 31, 2010, respectively, assuming the transaction occurred on the first day of each period presented.

The unaudited pro forma condensed consolidated balance sheet, statements of operations and notes of the Company, as required by Article 11 of Regulation S-X, set forth below, provide investors with information about the continuing impact of a transaction by showing how it might have affected historical financial information if the transaction had been consummated at an earlier time. Such pro forma information is designed to assist the investors in analyzing the future prospects of a company because they illustrate the possible scope of the change in a company’s financial position and results of operations caused by the transaction or transactions. These pro forma statements and notes reflect the sale of all of the issued and outstanding shares of ECC-C.

The information presented below is for informational purposes only and is not necessarily indicative of the actual results that would have occurred had the transaction been consummated as of June 30, 2011 or January 1, 2010, nor are they necessarily indicative of future operating results of the consolidated companies under the new ownership and management of the Company. The unaudited pro forma condensed consolidated financial statements should be read in conjunction with the historical financial statements, including the notes thereto, of Energy Composites Corporation included in our Form 10-K for the fiscal year ended December 31, 2010, and Form 10-Q for the six months ended June 30, 2011.

ENERGY COMPOSITES CORPORATION
UNAUDITED PRO FORMA CONDENSED CONSOLIDATED BALANCE SHEET
AS OF JUNE 30, 2011
	Energy Composites
	Corporation
	(6-30-11 historical)			Adjustments			Proforma
ASSETS

Current Assets:
Cash	$	37,964		$	(37,964	)	$	-
Accounts receivable, net of allowance for doubtful
accounts of $61,000 in 2011		581,196			(581,196	)		-
Inventories, net		1,722,743			(1,722,743	)		-
Other current assets		44,531			(44,531	)		-
Prepaid consulting expense		2,268,000						2,268,000
Total current assets		4,654,434			(2,386,434	)		2,268,000

Property and equipment, net		5,682,163			(5,682,163	)		-

Other assets:
Intangible assets, net		46,052			(45,918	)		134
Prepaid consulting expense, net of current portion		567,000						567,000
Total other assets		613,052			(45,918	)		567,134

Total assets	$	10,949,649		$	(8,114,515	)	$	2,835,134

LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Current portion of long-term debt obligations	$	5,393,738		$	(4,329,871	)		1,063,867
Line of credit - bank		235,505			(235,505	)		-
Short-term notes payable		170,000			(170,000	)		-
Accounts payable		1,147,615			(1,036,685	)		110,930
Accounts payable - related party		48,005			(48,005	)		-
Accrued expenses		385,108			(385,108	)		-
Accrued payroll and payroll taxes		327,575			(327,575	)		-
Customer deposits		1,489,593			(1,489,593	)		-
Total current liabilities		9,197,139			(8,022,342	)		1,174,797

Long-term liabilities
Long-term debt obligations, net of current portion		58,276			(58,276	)		-

Total liabilities		9,255,415			(8,080,618	)		1,174,797

Stockholders' equity (deficit):
Common stock - $.001 par value; 100,000,000 shares
authorized, 46,731,964 (historical) and 22,692,784 (pro forma)
shares issued and outstanding		46,733			(24,040	)		22,693
Additional paid-in capital		18,767,529			24,040			18,791,569
Accumulated (deficit) retained earnings		(17,120,028	)		(33,897	)		(17,153,925	)
Total stockholders' equity		1,694,234			(33,897	)		1,660,337

Total liabilities and stockholders' equity	$	10,949,649		$	(8,114,515	)	$	2,835,134

See notes to the consolidated financial statements.

ENERGY COMPOSITES CORPORATION
UNAUDITED PRO FORMA CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS
FOR THE SIX MONTHS ENDED JUNE 30, 2011

	Energy Composites
	Corporation
	(6-30-11 historical)			Adjustments			Proforma

Revenue	$	2,213,869		$	(2,213,869	)	$	-

Cost of goods sold		1,925,755			(1,925,755	)		-

Gross profit		288,114			(288,114	)		-

Selling, general and administrative expenses		2,162,230			(911,672	)		1,250,558

Loss from operations		(1,874,116	)		623,558			(1,250,558	)

Other income (expense):
Interest expense		(377,109	)		141,525			(235,584	)
Interest income		-						-

Total other income (expense)		(377,109	)		141,525			(235,584	)

Loss before provision (benefit) for income taxes		(2,251,225	)		765,083			(1,486,142	)

Income tax provision (benefit)		-						-

Net loss	$	(2,251,225	)	$	765,083		$	(1,486,142	)

Net loss per common share - basic and diluted	$	(0.05	)				$	(0.07	)

Weighted average shares outstanding - basic and diluted		46,695,798						22,656,618

See notes to the consolidated financial statements.

ENERGY COMPOSITES CORPORATION
UNAUDITED PRO FORMA CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS
FOR THE YEAR ENDED DECEMBER 31, 2010

	Energy Composites
	Corporation
	(12-31-10 historical)			Adjustments			Proforma

Revenue	$	6,092,742		$	(6,092,742	)	$	-

Cost of goods sold		4,911,493			(4,911,493	)		-

Gross profit		1,181,249			(1,181,249	)		-

Selling, general and administrative expenses		5,151,505			(4,019,417	)		1,132,088

Loss from operations		(3,970,256	)		2,838,168			(1,132,088	)

Other income (expense):
Interest expense		(949,903	)		323,958			(625,945	)
Interest income		532			(532	)		-

Total other income (expense)		(949,371	)		323,426			(625,945	)

Loss before provision (benefit) for income taxes		(4,919,627	)		3,161,594			(1,758,033	)

Income tax provision (benefit)		-						-

Net loss	$	(4,919,627	)	$	3,161,594		$	(1,758,033	)

Net loss per common share - basic and diluted	$	(0.11	)				$	(0.09	)

Weighted average shares outstanding - basic and diluted		43,715,761						20,026,122

See notes to the consolidated financial statements.

ENERGY COMPOSITES CORPORATION

NOTES TO THE UNAUDITED PRO FORMA CONDENSED CONSOLIDATED

FINANCIAL STATEMENTS

1. Proposed Arrangement and Basis of Presentation

The accompanying unaudited pro forma condensed consolidated financial statements have been compiled for purposes of inclusion in the 14C filing relating to the sale by Energy Composites Corporation (“Company”) of all the stock of ECC Corrosion, Inc., its wholly owned subsidiary, to Jamie and Jennifer Mancl and their affiliated entities (“Sale”).

The unaudited pro forma condensed consolidated financial statements should be read in conjunction with the historical financial statements of the Company. The balance sheet of the Company as of June 30, 2011 was used in the preparation of the unaudited pro forma balance sheet as of June 30, 2011. The statement of operations of the Company for the six months ended June 30, 2011 and year ended December 31, 2010 were used in the preparation of the unaudited pro forma condensed consolidated statement of operations for the six months ended June 30, 2011 and year ended December 31, 2010 and the unaudited pro forma consolidated loss per share for the six months ended June 30, 2011 and year ended December 31, 2010.

2. Pro Forma Adjustments

The unaudited pro forma condensed consolidated balance sheet as at June 30, 2011 has been prepared assuming that the transaction related to the arrangement occurred on June 30, 2011.

The unaudited pro forma consolidated statement of operations for the six months ended June 30, 2011 and the year ended December 31, 2010 has been prepared assuming that the transaction related to the arrangement occurred on the first day of each period presented.

The following summarizes the assets purchased and liabilities assumed in the transaction on a pro forma basis as of June 30, 2011:

Description	Amount

Assets Purchased:
Cash and Equivalents	$	37,964
Accounts Receivable, net		581,196
Inventory		1,722,743
Other Current Assets		44,531
Property and Equipment, net		5,682,163
Intangible Assets, net		45,918
Total Assets Purchased	$	8,114,515

Liabilities Assumed:
Accounts Payable	$	1,084,690
Accrued Expenses		712,683
Customer Deposits		1,489,593
Notes Payable		4,793,652
Total Liabilities Assumed	$	8,080,618

Assets Purchased in Excess of Liabilities Assumed	$	33,897

3. Pro Forma Loss Per Share

The unaudited pro forma consolidated loss per share is not necessarily indicative of the results of operations that would have been attained had the acquisition taken place as of January 1, 2011 and does not purport to be indicative of the effects that may be expected to occur in the future.