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
Date of Report (Date of earliest event reported): May 7, 2007
PENGE CORP.
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(Exact Name of Registrant as Specified in its Charter)
DELAWARE 71-0895709
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(State or other jurisdiction of (IRS Employer
incorporation or organization) Identification No.)
000-52180
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(Commission
File Number)
1501 NORTH FAIRGROUNDS
MIDLAND, TEXAS 79705
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(Address of Principal Executive Offices) (Zip Code)
Registrant's Telephone Number, Including Area Code:
(423) 683-8800
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N/A
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(Former name, former address, and formal fiscal year, 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 ACQUISITIONS OR DISPOSITION OF ASSETS
On May 2, 2007, Penge Corp (the "Company"), disposed of the
approximately 7-acre commercial property in San Angelo, Texas by returning the
parcel to the note holder, the San Angelo Banking Center, the First National
Bank of Sonora, Texas. The note had a principal balance of $1,166,319 and an
interest balance of $55,149 for a total of $1,221,468 as of May 2, 2007. The
book value of the asset was $1,394,674.54 as of May 2, 2007 which amounts to an
approximately $173,207 loss on disposal of a fixed asset.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.
SIGNATURES
Pursuant to the requirements of the Securities Exchange of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Penge Corp.
Dated: May 7, 2007 By /s/ KC Holmes
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KC Holmes
Chief Financial Officer