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SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
Current Report
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act
Date of Report (Date of Earliest Event Reported):
December 29, 2009
Excel Global, Inc.
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(Exact name of registrant as specified in its charter)
Nevada 333-150462 26-0657736
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(State or other jurisdiction (Commission File Number (I.R.S. Employer
of incorporation or organization Identification Number)
816 South Robertson Boulevard
Los Angeles, CA 90041
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(Address of principal executive offices, Zip Code)
(310) 623-7505
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(Registrant's telephone number, including area code)
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 1.02 Termination of a Material Definitive Agreement
On November 28, 2007, the registrant entered into a license agreement
with Service Technology, Inc., a non-affiliate. Service Technology
granted the registrant a license in perpetuity to the use the customer
intelligence application, the Edge, on a non-exclusive basis.
Pursuant to the license agreement, the registrant executed a promissory
note to which it was to pay Service Technology $50,000 on or before
December 31, 2008 and issued Service Technology 100,000 shares of
restricted common stock of the registrant. The promissory note was
extended by mutual consent of the parties to December 31, 2009.
Upon further evaluation of the software, the registrant determined that
it was unable to implement the use of this particular software with its
clients. As a result, on December 29, 2009, the parties entered into a
termination agreement. Pursuant to the agreement, the 100,000 shares
of restricted common stock were returned to the treasury of the
registrant, the promissory note was declared null and void and the
registrant agreed to issue Service Technology 10,000 shares of its
common stock for the termination of the agreement.
ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS
Exhibits
No. Description
10.1 Termination 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 Current Report on Form 8-K to be
signed on its behalf by the undersigned hereunto duly authorized.
Excel Global, Inc.
By: /s/Betty Sytner
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Betty Sytner
Chief Executive Officer
Dated: February 10, 2010