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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
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Date of report (Date of earliest event reported) July 25, 2008
ELECTRONIC SENSOR TECHNOLOGY, INC.
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(Exact Name of the Registrant as Specified in Charter)
Nevada 000-51859 98-0372780
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(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
1077 Business Center Circle, Newbury Park, California 91320
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(Address of Principal Executive Offices)
Registrant's telephone number, including area code (805) 480-1994
Not Applicable.
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(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:
[ ] 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))
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Item 1.01 Entry into a Material Definitive Agreement.
Grant of Stock Options
On July 25, 2008 (the "Effective Date"), Maggie Tham and William Wittmeyer were
each granted an option to acquire 869,565 shares of common stock of Electronic
Sensor Technology, Inc. (the "Registrant"), par value $0.001 per share, at an
exercise price of $0.03 per share (which was the closing price of the
Registrant's common stock on the Effective Date), the option to acquire 500,000
of which were granted to each of Ms. Tham and Mr. Wittmeyer under the
Registrant's 2005 Stock Incentive Plan. The option shares for each of Ms. Tham
and Mr. Wittmeyer will vest as follows: 25% will vest on July 25, 2009, 25% will
vest on July 25, 2010, 25% will vest on July 25, 2011 and 25% will vest on July
25, 2012. The option grants were evidenced by Notices of Grant of Stock Option
and Option Agreements substantially in the form attached as Exhibit 10.2 to the
annual report of the Registrant on Form 10-KSB for the fiscal year ended
December 31, 2004 filed with the Commission on April 15, 2005.
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.
ELECTRONIC SENSOR TECHNOLOGY, INC.
Date: October 21, 2008 By: /s/ Philip Yee
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Name: Philip Yee
Title: Secretary, Treasurer and
Chief Financial Officer