Attached files
| file | filename |
|---|---|
| EX-10.2 - EXHIBIT 10.2 - PepperBall Technologies, Inc. | ex10x2.htm |
| EX-10.1 - EXHIBIT 10.1 - PepperBall Technologies, Inc. | ex10x1.htm |
| EX-10.3 - EXHIBIT 10.3 - PepperBall Technologies, Inc. | ex10x3.htm |
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
Date
of Report (Date of earliest event reported): July 27, 2010
PepperBall
Technologies, Inc.
(Exact
name of registrant as specified in its charter)
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Colorado
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001-32566
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20-1978398
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(State
or other jurisdiction
of
incorporation)
|
(Commission
File Number)
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(IRS
Employer
Identification
No.)
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6142
Nancy Ridge Drive, Suite 101
San
Diego, CA 92121
(Address
of principal executive offices) (Zip Code)
Registrant’s
telephone number, including area code: (858) 638-0236
None
(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
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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
Security
Agreement
On July 9,
2010, a wholly owned subsidiary of the Registrant, PepperBall Technologies - CA,
Inc., a Delaware corporation (the “Company”) entered into a Security Agreement
(the “Security Agreement”) with
PRIMARY FUNDING CORPORATION , A California Corporation (“PFC”) for a
short term financing agreement. The Agreement provides for up to
$500,000 in factoring financing with a discount fee charged of 1% for each
fifteen days an advance under the Agreement associated with an invoice is
outstanding. The financing is collateralized by the Company’s assets, including
accounts receivable, inventory and equipment. The initial Agreement
is for a term of six months and automatically renews for successive six months
periods unless terminated by either party. The Agreement contains
customary provisions for reporting, defaults, etc.
As a
condition of the Agreement becoming effective, the Company was required to
obtain executed Inter-Creditor Agreements with its existing secured
lenders. As of July 27, 2010 those Inter-Creditor Agreements were
obtained.
The
description of the transaction set forth above is qualified in its entirety by
reference to the Securities Purchase Agreement and Convertible Promissory Note,
forms of which are filed with this current report as Exhibits 10.1, 10.2 and
10.3, respectively.
Item
2.03 Creation of a Direct Financial Obligation or
an Obligation under an Off-Balance SheetArrangement of a Registrant
The
information set forth above under Item 1.01, Entry into a Material
Definitive Agreement, is hereby incorporated by reference into this Item
2.03.
Item
9.01 Financial Statements and
Exhibits.
(d) Exhibits.
2
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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PepperBall
Technologies, Inc.
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Date:
August 3, 2010
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/s/
Jeffrey G. McGonegal
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Jeffrey
G. McGonegal
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Chief
Financial Officer
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