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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Washington, D.C.&nbsp; 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>FORM 8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CURRENT REPORT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Pursuant to Section&nbsp;13 or 15(d) of</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>The Securities Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>February&nbsp;14, 2012</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Date of Report (Date of earliest event reported)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>AgFeed Industries,&nbsp;Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Exact name of registrant as specified in its
charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR>
    <TD STYLE="width: 34%; vertical-align: top; text-autospace: none; font-weight: bold; text-align: center">Nevada</TD>
    <TD STYLE="width: 1%; vertical-align: bottom; text-autospace: none">&nbsp;</TD>
    <TD STYLE="width: 32%; vertical-align: top; text-autospace: none; font-weight: bold; text-align: center">001-33674</TD>
    <TD STYLE="width: 1%; vertical-align: bottom; text-autospace: none">&nbsp;</TD>
    <TD STYLE="width: 32%; vertical-align: top; text-autospace: none; font-weight: bold; text-align: center">20-2597168</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(State or other jurisdiction</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">of incorporation)</P></TD>
    <TD STYLE="vertical-align: bottom; text-autospace: none">&nbsp;</TD>
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Commission</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">File Number)</P></TD>
    <TD STYLE="vertical-align: bottom; text-autospace: none">&nbsp;</TD>
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(IRS Employer</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Ident. No.)</P></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-autospace: none; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-autospace: none">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-autospace: none; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-autospace: none">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-autospace: none; text-align: center">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="3" STYLE="vertical-align: top; text-autospace: none; font-weight: bold; text-align: center">744 Horizon Court, Suite&nbsp;350<BR> Grand Junction, Colorado</TD>
    <TD STYLE="vertical-align: bottom; text-autospace: none">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-autospace: none; font-weight: bold; text-align: center">81506</TD></TR>
<TR>
    <TD COLSPAN="3" STYLE="vertical-align: top; text-autospace: none; text-align: center">(Address of principal executive offices)</TD>
    <TD STYLE="vertical-align: bottom; text-autospace: none">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-autospace: none; text-align: center">(Zip Code)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(970) 245-9410</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">Registrant&rsquo;s telephone number, including
        area code&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none; font-weight: bold; text-align: center">N/A</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none; text-align: center">(Former name or former address, if changed since last report.)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">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:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Wingdings">o</FONT> Written communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Wingdings">o</FONT> Soliciting material
pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Wingdings">o</FONT> Pre-commencement communications
pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Wingdings">o</FONT> Pre-commencement communications
pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4 (c))</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 63pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Item 1.01</B></FONT></TD><TD><B>Entry into a Material Definitive Agreement.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 63pt; text-indent: -63pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The information provided under the heading &ldquo;<FONT STYLE="font-family: Times New Roman, Times, Serif">Resignation
of Milton&nbsp;P. Webster&nbsp;III&rdquo; in</FONT> Item&nbsp;5.02 below is hereby incorporated by reference to this Item&nbsp;1.01.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 63pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Item 5.02</B></FONT></TD><TD><B>Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements
of Certain Officers.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 63pt; text-indent: -63pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Election
of New Directors and Director Compensation</I>. On February&nbsp;14, 2012, the Board of Directors of AgFeed Industries, Inc. (the&nbsp;&ldquo;Company&rdquo;)
appointed H. David Sherman and Todd Zelek as members of the Board of Directors of the Company with terms expiring at the 2012 annual
meeting of stockholders. Neither Messrs.&nbsp;Sherman nor Zelek was appointed to the Company&rsquo;s Board of Directors pursuant
to any arrangement or understanding with any other person. Additionally, neither Messrs.&nbsp;Sherman nor Zelek have an interest
requiring disclosure under </FONT><FONT STYLE="color: black">Item 404(a) of Regulation S-K. Each of Messrs.&nbsp;Sherman and Zelek,
along with our other continuing non-employee directors (other than K. Ivan&nbsp;F. Gothner), will receive an annual retainer, payable
quarterly, in the amount of $25,000 for their respective service on the Board of Directors and, subject to an annual cap of $50,000,
an additional annual retainer, payable quarterly, in the amount of $25,000 for their services on each of the audit committee, compensation
committee, and nominating and corporate governance committee. Also on February&nbsp;14, 2012, each of Messrs.&nbsp;Sherman and
Zelek, along with Bruce&nbsp;K. Ginn, received a stock option award, each with a ten-year term, to purchase 150,000&nbsp;shares
of common stock, vesting in equal installments on the first, second and third anniversary of the date of grant.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Going forward, Messrs.&nbsp;Sherman and Zelek
will be compensated for services as a director on the same basis as other non-employee directors of the Company, including annual
retainers for board and committee service and eligibility to receive other stock-based awards as may be approved from time to time
by the Board of Directors of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><I>Realignment of the Board Committees</I>.
Effective February&nbsp;14, 2012, each of the following committees of the Board of Directors were reconstituted as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in"><U>Audit Committee<BR>
</U>H. David Sherman (Chairman and Audit Committee Financial Expert)<BR>
Bruce&nbsp;K. Ginn<BR>
Lixiang Zhang</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in"><U>Compensation Committee<BR>
</U>H. David Sherman (Chairman)<BR>
Bruce&nbsp;K. Ginn<BR>
Todd Zelek</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in"><U>Nominating and Corporate Governance Committee<BR>
</U>Todd Zelek (Chairman)<BR>
Bruce K. Ginn<BR>
Lixiang Zhang</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><I>Resignation of Milton&nbsp;P. Webster&nbsp;III</I>.
Effective February&nbsp;14, 2012, Milton&nbsp;P. Webster&nbsp;III resigned as a director of the Company. With the completion of
the work of the special committee of the Board of Directors, of which Mr.&nbsp;Webster served as Chairman, Mr.&nbsp;Webster wished
to devote his time to his ongoing business activities. In connection with his resignation and in order for the Company to avail
itself of Mr.&nbsp;Webster&rsquo;s advice and counsel, the Company entered into a consulting agreement, dated as of February&nbsp;14,
2012 (the&nbsp;&ldquo;Consulting Agreement&rdquo;), with Mr.&nbsp;Webster and Anchor Equities,&nbsp;LLC (&ldquo;Anchor&rdquo;),
a Florida limited liability company of which Mr.&nbsp;Webster is a managing member, pursuant to which Anchor will provide consulting
services to the Company for a period of two years. The Consulting Agreement provides for: (i)&nbsp;a monthly consulting retainer
at the rate of $180,000&nbsp;per year, payable in equal monthly installments over the term of the Consulting Agreement, and (ii)&nbsp;a
payment of $19,740 for the purchase of his previously issued restricted stock award of 50,000&nbsp;shares of common stock, at a
price per share of $0.3894. Under certain circumstances set forth in the Consulting Agreement, the monthly consulting retainers
may be accelerated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Consulting Agreement is attached hereto
as Exhibit&nbsp;10.1 and is incorporated by reference herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 63pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Item 7.01</B></FONT></TD><TD><B>Regulation&nbsp;FD.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 63pt; text-indent: -63pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Mr.&nbsp;Sherman is a tenured Full Professor
of Accounting at Northeastern University&rsquo;s College of Business Administration and is a CPA. He has served on the faculty
of the Sloan School of Management at MIT and as a visiting faculty member at INSEAD, in Fontainebleau, France, and the Naval Postgraduate
School, in Monterey, California. Mr.&nbsp;Sherman was the Academic Fellow in the Division of Corporate Finance of the Securities
and Exchange Commission, in Washington, D.C., during the year ended July 2005. Mr.&nbsp;Sherman co-authored &ldquo;The Audit Committee&rsquo;s
New Agenda,&rdquo; which appeared in the Harvard Business Review (June 2009). He is also co-author of <I>Profits You Can Trust:
Spotting and Surviving Accounting Landmines</I>, also published in a Chinese edition. Mr.&nbsp;Sherman has been an invited speaker
on U.S. and international shareholder reporting issues at national professional and academic meetings in the United States, South
America, Europe, China, and Japan. He has also served as a director and manager of several businesses, and has consulted on financial
performance issues with major corporations, banks, and the Financial Accounting Standards Board. Mr.&nbsp;Sherman currently is
a board member of China HGS Real Estate (Hanzhong, China), Kingold Jewelry Inc. (Wuhan, China) and D-Tree International (Boston).
He holds an MBA and a Doctorate degree from Harvard Business School and an AB in Economics from Brandeis University.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="color: black">Mr.&nbsp;Zelek </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">has
served as the Chairman and Chief Executive Officer of Cavitation Technologies, Inc., </FONT>an innovative leader in processing
liquids, fluidic mixtures, emulsions and suspended solids,<FONT STYLE="font-family: Times New Roman, Times, Serif"> since June
14, 2011. From 2001 until joining Cavitation Technologies, Inc., he was retired from active executive management employment and
was engaged in managing his own investment portfolio. Mr. Zelek was formerly a private investor and investment banker, and served
as Managing Director, Internet Group Head and Co-Head of the Los Angeles investment banking office for Lehman Brothers, Inc. from
1995 through 2001. Prior to that, he was a Managing Director and head of the Thrift Industry practice at Salomon Brothers in Los
Angeles and New York. Mr.&nbsp;Zelek began his career as an investment banker at Smith Barney in 1982. He earned a master's degree
from the </FONT><FONT STYLE="color: black">Sloan School of Management at MIT</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">
in 1982 and graduated with distinction from Cornell University in 1979.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 63pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Item 9.01</B></FONT></TD><TD><B>Financial Statements and Exhibits.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 63pt; text-indent: -63pt">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(d)</TD><TD>Exhibits.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.5in">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">10.1</TD><TD>Consulting Agreement, dated as of February&nbsp;14, 2012, among AgFeed Industries, Inc., Milton&nbsp;P. Webster&nbsp;III and
Anchor Equities,&nbsp;LLC.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><U>SIGNATURES</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="text-autospace: none">AGFEED INDUSTRIES,&nbsp;INC.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-autospace: none">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none">Dated:&nbsp; February&nbsp;21, 2012</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-autospace: none">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-autospace: none">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none">By:</TD>
    <TD COLSPAN="2" STYLE="text-autospace: none; border-bottom: Black 1pt solid">/s/&nbsp;&nbsp;K. Ivan F. Gothner</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-autospace: none">K. Ivan F. Gothner</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-autospace: none">Chairman of the Board and</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-autospace: none">Interim Chief Executive Officer</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="width: 205px">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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{"company-data": {"conformed-name": "AgFeed Industries, Inc.", "cik": "0001331427", "assigned-sic": "0200", "irs-number": "202597168", "state-of-incorporation": "NV", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-33674", "film-number": "12627685"}, "business-address": {"street1": "744 HORIZON COURT,", "street2": "SUITE 350", "city": "GRAND JUNCTION,", "state": "CO", "zip": "81506", "phone": "970-245-9410"}, "mail-address": {"street1": "744 HORIZON COURT,", "street2": "SUITE 350", "city": "GRAND JUNCTION,", "state": "CO", "zip": "81506"}, "former-company": [{"former-conformed-name": "Agfeed Industries, Inc", "date-changed": "20061122"}, {"former-conformed-name": "Wallace Mountain Resources Corp.", "date-changed": "20050627"}]}
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
February 14, 2012
Date of Report (Date of earliest event reported)
AgFeed Industries, Inc.
(Exact name of registrant as specified in its
charter)
Nevada
001-33674
20-2597168
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(IRS Employer
Ident. No.)
744 Horizon Court, Suite 350
Grand Junction, Colorado
81506
(Address of principal executive offices)
(Zip Code)
(970) 245-9410
Registrant's telephone number, including
        area code
N/A
(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:
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 1.01
Entry into a Material Definitive Agreement.
The information provided under the heading "
Resignation
of Milton P. Webster III" in
Item 5.02 below is hereby incorporated by reference to this Item 1.01.
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements
of Certain Officers.
Election
of New Directors and Director Compensation
. On February 14, 2012, the Board of Directors of AgFeed Industries, Inc. (the "Company")
appointed H. David Sherman and Todd Zelek as members of the Board of Directors of the Company with terms expiring at the 2012 annual
meeting of stockholders. Neither Messrs. Sherman nor Zelek was appointed to the Company's Board of Directors pursuant
to any arrangement or understanding with any other person. Additionally, neither Messrs. Sherman nor Zelek have an interest
requiring disclosure under
Item 404(a) of Regulation S-K. Each of Messrs. Sherman and Zelek,
along with our other continuing non-employee directors (other than K. Ivan F. Gothner), will receive an annual retainer, payable
quarterly, in the amount of $25,000 for their respective service on the Board of Directors and, subject to an annual cap of $50,000,
an additional annual retainer, payable quarterly, in the amount of $25,000 for their services on each of the audit committee, compensation
committee, and nominating and corporate governance committee. Also on February 14, 2012, each of Messrs. Sherman and
Zelek, along with Bruce K. Ginn, received a stock option award, each with a ten-year term, to purchase 150,000 shares
of common stock, vesting in equal installments on the first, second and third anniversary of the date of grant.
Going forward, Messrs. Sherman and Zelek
will be compensated for services as a director on the same basis as other non-employee directors of the Company, including annual
retainers for board and committee service and eligibility to receive other stock-based awards as may be approved from time to time
by the Board of Directors of the Company.
Realignment of the Board Committees
.
Effective February 14, 2012, each of the following committees of the Board of Directors were reconstituted as follows:
Audit Committee
H. David Sherman (Chairman and Audit Committee Financial Expert)
Bruce K. Ginn
Lixiang Zhang
Compensation Committee
H. David Sherman (Chairman)
Bruce K. Ginn
Todd Zelek
Nominating and Corporate Governance Committee
Todd Zelek (Chairman)
Bruce K. Ginn
Lixiang Zhang
Resignation of Milton P. Webster III
.
Effective February 14, 2012, Milton P. Webster III resigned as a director of the Company. With the completion of
the work of the special committee of the Board of Directors, of which Mr. Webster served as Chairman, Mr. Webster wished
to devote his time to his ongoing business activities. In connection with his resignation and in order for the Company to avail
itself of Mr. Webster's advice and counsel, the Company entered into a consulting agreement, dated as of February 14,
2012 (the "Consulting Agreement"), with Mr. Webster and Anchor Equities, LLC ("Anchor"),
a Florida limited liability company of which Mr. Webster is a managing member, pursuant to which Anchor will provide consulting
services to the Company for a period of two years. The Consulting Agreement provides for: (i) a monthly consulting retainer
at the rate of $180,000 per year, payable in equal monthly installments over the term of the Consulting Agreement, and (ii) a
payment of $19,740 for the purchase of his previously issued restricted stock award of 50,000 shares of common stock, at a
price per share of $0.3894. Under certain circumstances set forth in the Consulting Agreement, the monthly consulting retainers
may be accelerated.
The Consulting Agreement is attached hereto
as Exhibit 10.1 and is incorporated by reference herein.
Item 7.01
Regulation FD.
Mr. Sherman is a tenured Full Professor
of Accounting at Northeastern University's College of Business Administration and is a CPA. He has served on the faculty
of the Sloan School of Management at MIT and as a visiting faculty member at INSEAD, in Fontainebleau, France, and the Naval Postgraduate
School, in Monterey, California. Mr. Sherman was the Academic Fellow in the Division of Corporate Finance of the Securities
and Exchange Commission, in Washington, D.C., during the year ended July 2005. Mr. Sherman co-authored "The Audit Committee's
New Agenda," which appeared in the Harvard Business Review (June 2009). He is also co-author of
Profits You Can Trust:
Spotting and Surviving Accounting Landmines
, also published in a Chinese edition. Mr. Sherman has been an invited speaker
on U.S. and international shareholder reporting issues at national professional and academic meetings in the United States, South
America, Europe, China, and Japan. He has also served as a director and manager of several businesses, and has consulted on financial
performance issues with major corporations, banks, and the Financial Accounting Standards Board. Mr. Sherman currently is
a board member of China HGS Real Estate (Hanzhong, China), Kingold Jewelry Inc. (Wuhan, China) and D-Tree International (Boston).
He holds an MBA and a Doctorate degree from Harvard Business School and an AB in Economics from Brandeis University.
Mr. Zelek
has
served as the Chairman and Chief Executive Officer of Cavitation Technologies, Inc.,
an innovative leader in processing
liquids, fluidic mixtures, emulsions and suspended solids,
since June
14, 2011. From 2001 until joining Cavitation Technologies, Inc., he was retired from active executive management employment and
was engaged in managing his own investment portfolio. Mr. Zelek was formerly a private investor and investment banker, and served
as Managing Director, Internet Group Head and Co-Head of the Los Angeles investment banking office for Lehman Brothers, Inc. from
1995 through 2001. Prior to that, he was a Managing Director and head of the Thrift Industry practice at Salomon Brothers in Los
Angeles and New York. Mr. Zelek began his career as an investment banker at Smith Barney in 1982. He earned a master's degree
from the
Sloan School of Management at MIT
in 1982 and graduated with distinction from Cornell University in 1979.
Item 9.01
Financial Statements and Exhibits.
(d)
Exhibits.
10.1
Consulting Agreement, dated as of February 14, 2012, among AgFeed Industries, Inc., Milton P. Webster III and
Anchor Equities, LLC.
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.
AGFEED INDUSTRIES, INC.
Dated:  February 21, 2012
By:
/s/  K. Ivan F. Gothner
K. Ivan F. Gothner
Chairman of the Board and
Interim Chief Executive Officer