Attached files
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| EX-10.1 - SETTLEMENT AGREEMENT - China Teletech Holding Inc | f8k122909ex10i_gzgt.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 (DATE OF EARLIEST EVENT REPORTED): December 29,
2009
GUANGZHOU
GLOBAL TELECOM, INC.
(EXACT
NAME OF REGISTRANT AS SPECIFIED IN CHARTER)
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Florida
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333-130937
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59-3565377
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(STATE
OR OTHER JURISDICTION
OF
INCORPORATION
OR
ORGANIZATION)
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(COMMISSION
FILE NO.)
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(IRS
EMPLOYEE
IDENTIFICATION
NO.)
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Room
03/04, 16/F, Jinke Building,
No.17/19,
Guangwei Road
Guangzhou,
China 510180
(ADDRESS
OF PRINCIPAL EXECUTIVE OFFICES)
(86)
20-8317-2821
(ISSUER
TELEPHONE NUMBER)
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):
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o
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
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o
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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o
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
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o
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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
On
December 29, 2009, Guangzhou Global Telecom, Inc. (the “Company”) entered into a
settlement agreement (the Settlement
Agreement”) with Enable Growth Partners LP, Pierce Diversified Strategy Master
Fund LLC, and Enable Opportunity Partners LP (collectively, the “Holders”), to
settle certain convertible debentures and common stock purchase warrants
pursuant to a transaction dated July 31, 2007 and amended on November 3, 2008,
as described in greater detail under current report Form 8-K’s of the Company
filed on August 1, 2007 and November 5, 2008, respectively, with the Securities
and Exchange Commission including exhibits thereto. The Settlement Agreement
provides that in consideration of a total payment of $1,300,000 to the Holders
by the Company by no later than January 21, 2010, the convertible debentures
will be deemed satisfied and all outstanding warrants held by the Holders will
be cancelled. In addition, the Holders have agreed to cancel all of the Company
shares held by them at such time as the payment has been made. The
preceding summary of the Settlement Agreement between the Company and the
Holders is qualified in its entirety by reference to the full text of the
Settlement Agreement, which is filed as Exhibit 10.1 to this Current Report on
Form 8-K.
Item
9.01 Financial Statements and Exhibits
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(c)
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Exhibits.
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10.1
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Settlement
Agreement, dated December 29,
2009
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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.
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GUANGZHOU
GLOBAL TELECOM, INC.
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Date: January
4, 2010
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By:
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/s/ Yankuan Li
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Yankuan
Li
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Chairman
and Chief Executive Officer
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