<html>
  <head>
    <title>amin8k203.htm</title>
<!-- Licensed to: amii9479-->
<!-- Document Created using EDGARizer 4.0.5.0 -->
<!-- Copyright 1995 - 2008 EDGARfilings, Ltd., an IEC company. All rights reserved -->
</head>
    <body bgcolor="#ffffff" style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SECURITIES
AND EXCHANGE COMMISSION</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt">WASHINGTON, D.C.
20549</font>&#160;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 18pt; FONT-FAMILY: Times New Roman">FORM
8-K</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt">CURRENT
REPORT</font>&#160;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">PURSUANT
TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date of
Report: June 5, 2008</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Date of
Earliest Event Reported)&#160;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 18pt; FONT-FAMILY: Times New Roman"><a name="FIS_UNIDENTIFIED_TABLE">AMERICAN INTERNATIONAL INDUSTRIES,
INC.</a></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Exact
Name Of Registrant As Specified In Its Charter)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">
          <tr>
            <td valign="middle" width="45%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Nevada</font></div>
            </td>
            <td valign="middle" width="45%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">88-0326480</font></div>
            </td>
          </tr>
          <tr>
            <td valign="middle" width="45%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(State
      of Incorporation)</font></div>
            </td>
            <td valign="middle" width="45%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(I.R.S.
      Employer Identification No.)</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="middle" width="45%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td align="left" valign="middle" width="45%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
          </tr>
          <tr>
            <td valign="middle" width="45%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">601
      Cien Street, Suite 235, Kemah, TX</font></div>
            </td>
            <td valign="middle" width="45%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">77565-3077</font></div>
            </td>
          </tr>
          <tr>
            <td valign="middle" width="45%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(Address
      of Principal Executive Offices)</font></div>
            </td>
            <td valign="middle" width="45%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(ZIP
      Code)</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;Registrant's
Telephone Number, Including Area Code: (281) 334-9479&#160;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">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):</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Wingdings">&#168;</font> Written communications
pursuant to Rule&#160;425 under the Securities Act (17 CFR 230.425)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Wingdings">&#168;</font> Soliciting material
pursuant to Rule&#160;14a-12 under the Exchange Act (17 CFR
240.14a-12)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Wingdings">&#168;</font> Pre-commencement
communications pursuant to Rule&#160;14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Wingdings">&#168;</font> Pre-commencement
communications pursuant to Rule&#160;13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))</font></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
        </div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ITEM
2.03 CREATION OF A DIRECT FINANCIAL OBLIGATION OR AN OBLIGATION UNDER AN
OFF-BALANCE SHEET ARRANGEMENT</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On May
22, 2008, we received notice that on May 16, 2008, a judgment was issued in the
lawsuit <font style="FONT-STYLE: italic">Fort Apache Energy, Inc. v. Delta
Seaboard Well Service, Inc</font>. in the District Court of Harris County Texas
334<font style="FONT-SIZE: 70%; VERTICAL-ALIGN: super">th </font>Judicial
District for actual damages of $1,508,846.&#160; Delta Seaboard Well Service,
Inc. ("Delta") is a 51% owned subsidiary of American International Industries,
Inc. ("Company"), therefore, the potential net income impact of this judgment on
the Company is $769,511.&#160; Delta's attorneys will enter a motion for a new
trial on or before June 16, 2008.&#160; In the event that a new trial is not
granted, Delta has retained the services of Lynne Liberato of the law firm of
Haynes and Boone and Byron Keeling of the law firm of Keeling &amp; Downes, both
in Houston, Texas, to appeal the judgment. Management is strenuously and
vigorously defending this matter. Management and its attorneys&#160;believe
there is a good chance of overturning the judgment.&#160; In the unlikely event
that Fort Apache successfully defends any judgment in this case on appeal,
management believes that any damages assessed will be recoverable through
favorable verdicts in the two lawsuits discussed below. Fort Apache drilled a
well which they subsequently decided to plug. Fort Apache contracted with Delta
to plug the well. Fort Apache alleged that Delta bid the job with a specified
lump sum plugging operation and that Delta went over the bid amount. Fort Apache
claims that it never authorized the costs of the extra labor, operation or
additional equipment to plug the well. Also, Fort Apache claimed that the well
was still commercially viable as Delta encountered pressure at the well site
during its plugging operations. Fort Apache claimed that Delta acted negligently
in failing to contact Fort Apache regarding the pressure at the well so as to
allow Fort Apache to determine the feasibility of production at the well. Fort
Apache claimed that it was damaged as a result of the omissions of Delta, and
Delta&#8217;s actions in force-plugging the well and that its damages are the costs of
drilling a new well.&#160; Delta vehemently denies all of the above.&#160; The
well was worthless and the pressure found was a normal event in such plugging
procedures.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="FONT-STYLE: italic">Delta Seaboard Well Service, Inc. v. Houstoun,
Woodard, Eason, Gentle Tomforde and Anderson, Inc., D/B/A Insurance Alliance and
Robert Holman.</font> Delta&#8217;s position is that if there is not coverage under
the Gemini policy, its broker failed to obtain appropriate insurance coverage
and misrepresented the coverage it did obtain through the Gemini policy. The
parties agreed to refrain from actively working on the Broker Lawsuit pending
the outcome of the Fort Apache lawsuit and the Gemini lawsuit because the
results of those two lawsuits could render the Broker Lawsuit unnecessary. One
of the broker&#8217;s defenses is that all claims in the Broker Lawsuit are barred by
the March 2007 settlement reached in Gemini Insurance Company, Houstoun,
Woodard, Easton, Gentle Tomforde and Anderson, Inc., D/B/A Insurance Alliance
and Robert Holman for a rig damaged in Hurricane Katrina, mentioned above. On
April 15, 2008, the broker filed a motion for summary judgment asserting that
this release applies to the claims in the Broker Lawsuit and thus, the broker is
entitled to judgment as a matter of law. The motion for summary judgment was set
for oral hearing on May 23, 2008, but it has been postponed.&#160;If the release
is found by the court to include the claims asserted in the Broker Lawsuit, the
Broker Lawsuit will be barred and will be dismissed by the court. In such event,
Delta would have a potential professional malpractice claim against the attorney
that represented it in the Property Lawsuit for not properly advising Delta as
to the scope and effect of the release. If the court finds that the release does
not bar the Broker Lawsuit, then it will continue on the merits of the case. As
a result, it is premature to analyze the potential outcome of the Broker
Lawsuit. As part of the attorney&#8217;s work on the Broker Lawsuit, the attorneys
determined that Delta has a potential claim against American International
Specialty Lines Insurance Company ("AISLIC") (no relation to
American&#160;International Industries, Inc.)&#160;for coverage for the Fort
Apache lawsuit under a commercial umbrella policy. AISLIC was first provided
notice of the Fort Apache lawsuit in March 2008. On March 17, 2008, the
attorneys received an initial response from AISLIC, acknowledging receipt of the
notice and indicated that a claims technician would be assigned to the matter.
An evaluation of these potential claims is premature because AISLIC has not
taken a coverage position at this time.</font></div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="FONT-STYLE: italic">Gemini Insurance Company v. Delta Seaboard Well
Service, Inc.</font> &#160;Delta had a CGL insurance policy with Gemini
Insurance Company ("Gemini") for 2003, naming Delta as an insured, which policy
was in effect at such time as Delta began the plugging operation referenced in
the first lawsuit. Delta made a claim under the policy for a defense in the Fort
Apache case; however, Gemini has filed suit against Delta seeking a declaratory
judgment that it owes no defense under the policy. In connection with such
declaration, Delta has filed a counterclaim seeking to have the policy declared
applicable as to the claims of Fort Apache against Delta. Written discovery has
been exchanged between both Gemini and Delta. No depositions have been taken in
this matter. Summary judgment motions must be heard by June 20, 2008, and expert
designations for parties seeking affirmative relief are due on that date.
Defense expert designations are due July 21, 2008. The discovery deadline in
this litigation is September 19, 2008, and a trial date has not yet been reset.
Management is vigorously defending this matter and asserting its affirmative
claims. An evaluation cannot be made at this time in connection with the outcome
of the Gemini litigation.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">SIGNATURES</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">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.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">/s/ DANIEL
DROR</font></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;
CHAIRMAN AND CEO</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">&#160;&#160;
Dated: June 5, 2008</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">/s/ SHERRY L.
COUTURIER</font></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;CFO</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">&#160;&#160;
Dated: June 5, 2008</font></div>
    </div>
  </body>
</html>
[{"type": "8-K", "sequence": "1", "filename": "amin8k203.htm", "description": "AMIN 8K 401ACCOUNTANT CHANGE", "secsgml_size_bytes": 20940}]
{"company-data": {"conformed-name": "AMERICAN INTERNATIONAL INDUSTRIES INC", "cik": "0001073146", "assigned-sic": "6799", "irs-number": "880326480", "state-of-incorporation": "NV", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-33640", "film-number": "08883623"}, "business-address": {"street1": "601 CIEN ST", "street2": "SUITE 235", "city": "KEMAH", "state": "TX", "zip": "77565-2701", "phone": "2813349479"}, "mail-address": {"street1": "601 HANSON RD", "city": "KEMAH", "state": "TX", "zip": "77565-2701"}}
amin8k203.htm
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: June 5, 2008
(Date of
Earliest Event Reported)
AMERICAN INTERNATIONAL INDUSTRIES,
INC.
(Exact
Name Of Registrant As Specified In Its Charter)
Nevada
88-0326480
(State
      of Incorporation)
(I.R.S.
      Employer Identification No.)
601
      Cien Street, Suite 235, Kemah, TX
77565-3077
(Address
      of Principal Executive Offices)
(ZIP
      Code)
Registrant's
Telephone Number, Including Area Code: (281) 334-9479
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
2.03 CREATION OF A DIRECT FINANCIAL OBLIGATION OR AN OBLIGATION UNDER AN
OFF-BALANCE SHEET ARRANGEMENT
On May
22, 2008, we received notice that on May 16, 2008, a judgment was issued in the
lawsuit
Fort Apache Energy, Inc. v. Delta
Seaboard Well Service, Inc
. in the District Court of Harris County Texas
334
th
Judicial
District for actual damages of $1,508,846.  Delta Seaboard Well Service,
Inc. ("Delta") is a 51% owned subsidiary of American International Industries,
Inc. ("Company"), therefore, the potential net income impact of this judgment on
the Company is $769,511.  Delta's attorneys will enter a motion for a new
trial on or before June 16, 2008.  In the event that a new trial is not
granted, Delta has retained the services of Lynne Liberato of the law firm of
Haynes and Boone and Byron Keeling of the law firm of Keeling & Downes, both
in Houston, Texas, to appeal the judgment. Management is strenuously and
vigorously defending this matter. Management and its attorneys believe
there is a good chance of overturning the judgment.  In the unlikely event
that Fort Apache successfully defends any judgment in this case on appeal,
management believes that any damages assessed will be recoverable through
favorable verdicts in the two lawsuits discussed below. Fort Apache drilled a
well which they subsequently decided to plug. Fort Apache contracted with Delta
to plug the well. Fort Apache alleged that Delta bid the job with a specified
lump sum plugging operation and that Delta went over the bid amount. Fort Apache
claims that it never authorized the costs of the extra labor, operation or
additional equipment to plug the well. Also, Fort Apache claimed that the well
was still commercially viable as Delta encountered pressure at the well site
during its plugging operations. Fort Apache claimed that Delta acted negligently
in failing to contact Fort Apache regarding the pressure at the well so as to
allow Fort Apache to determine the feasibility of production at the well. Fort
Apache claimed that it was damaged as a result of the omissions of Delta, and
Delta's actions in force-plugging the well and that its damages are the costs of
drilling a new well.  Delta vehemently denies all of the above.  The
well was worthless and the pressure found was a normal event in such plugging
procedures.
Delta Seaboard Well Service, Inc. v. Houstoun,
Woodard, Eason, Gentle Tomforde and Anderson, Inc., D/B/A Insurance Alliance and
Robert Holman.
Delta's position is that if there is not coverage under
the Gemini policy, its broker failed to obtain appropriate insurance coverage
and misrepresented the coverage it did obtain through the Gemini policy. The
parties agreed to refrain from actively working on the Broker Lawsuit pending
the outcome of the Fort Apache lawsuit and the Gemini lawsuit because the
results of those two lawsuits could render the Broker Lawsuit unnecessary. One
of the broker's defenses is that all claims in the Broker Lawsuit are barred by
the March 2007 settlement reached in Gemini Insurance Company, Houstoun,
Woodard, Easton, Gentle Tomforde and Anderson, Inc., D/B/A Insurance Alliance
and Robert Holman for a rig damaged in Hurricane Katrina, mentioned above. On
April 15, 2008, the broker filed a motion for summary judgment asserting that
this release applies to the claims in the Broker Lawsuit and thus, the broker is
entitled to judgment as a matter of law. The motion for summary judgment was set
for oral hearing on May 23, 2008, but it has been postponed. If the release
is found by the court to include the claims asserted in the Broker Lawsuit, the
Broker Lawsuit will be barred and will be dismissed by the court. In such event,
Delta would have a potential professional malpractice claim against the attorney
that represented it in the Property Lawsuit for not properly advising Delta as
to the scope and effect of the release. If the court finds that the release does
not bar the Broker Lawsuit, then it will continue on the merits of the case. As
a result, it is premature to analyze the potential outcome of the Broker
Lawsuit. As part of the attorney's work on the Broker Lawsuit, the attorneys
determined that Delta has a potential claim against American International
Specialty Lines Insurance Company ("AISLIC") (no relation to
American International Industries, Inc.) for coverage for the Fort
Apache lawsuit under a commercial umbrella policy. AISLIC was first provided
notice of the Fort Apache lawsuit in March 2008. On March 17, 2008, the
attorneys received an initial response from AISLIC, acknowledging receipt of the
notice and indicated that a claims technician would be assigned to the matter.
An evaluation of these potential claims is premature because AISLIC has not
taken a coverage position at this time.
Gemini Insurance Company v. Delta Seaboard Well
Service, Inc.
Delta had a CGL insurance policy with Gemini
Insurance Company ("Gemini") for 2003, naming Delta as an insured, which policy
was in effect at such time as Delta began the plugging operation referenced in
the first lawsuit. Delta made a claim under the policy for a defense in the Fort
Apache case; however, Gemini has filed suit against Delta seeking a declaratory
judgment that it owes no defense under the policy. In connection with such
declaration, Delta has filed a counterclaim seeking to have the policy declared
applicable as to the claims of Fort Apache against Delta. Written discovery has
been exchanged between both Gemini and Delta. No depositions have been taken in
this matter. Summary judgment motions must be heard by June 20, 2008, and expert
designations for parties seeking affirmative relief are due on that date.
Defense expert designations are due July 21, 2008. The discovery deadline in
this litigation is September 19, 2008, and a trial date has not yet been reset.
Management is vigorously defending this matter and asserting its affirmative
claims. An evaluation cannot be made at this time in connection with the outcome
of the Gemini litigation.
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.
/s/ DANIEL
DROR
CHAIRMAN AND CEO
Dated: June 5, 2008
/s/ SHERRY L.
COUTURIER
CFO
Dated: June 5, 2008