Attached files
| file | filename |
|---|---|
| EX-10.1 - Investview, Inc. | v199830_ex10-1.htm |
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
DC 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 OR 15(d) of the Securities and Exchange Act of 1934
Date of
Report (Date of earliest reported): October 20, 2010
(Exact
name of registrant as specified in charter)
|
Nevada
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000-27019
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87-0369205
|
|
(State or Other Jurisdiction of
Incorporation or Organization)
|
(Commission File Number)
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(IRS Employer Identification No.)
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708
3rd Avenue, 6th Floor
New
York, New York 10017
(Address
of Principal Executive
Offices) (Zip
Code)
Registrant’s
Telephone Number, including area code: (212) 227-2242
With a
Copy to:
Stephen
M. Fleming, Esq.
Law
Offices of Stephen M. Fleming PLLC
49
Front Street, Suite 206
Rockville
Centre, NY 11570
T:
(516) 833-5034
F:
(516) 977-1209
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))
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Item
1.01
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Entry
into a Material Definitive
Agreement
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Item
2.03
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Creation
of a Direct Financial Obligation or an Obligation Under an Off-Balance
Sheet Arrangement of a Registrant
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On June
2, 2010, Global Investor Services, Inc. (the “Company”) executed a Convertible
Promissory Note with Asher Enterprises, Inc. (“Asher”) in the amount of $50,000
dated June 2, 2010 (the “June Note”) along with a Securities Purchase Agreement
dated as of June 2, 2010 (the “June Agreement”), the funding of which occurred
on June 15, 2010. On July 16, 2010, the Company executed a
Convertible Promissory Note with Asher in the amount of $35,000 (“the “July
Note”) along with a Securities Purchase Agreement (the “July Agreement”), the
funding of which occurred on July 28, 2010. The June Note has a
maturity date of March 4, 2011 and the July Note has a maturity date of April
20, 2011. Neither the June Note nor the July Note (collectively, the
“Notes”) permit the Company to prepay the Notes in whole or in
part. On October 20, 2010, the Company and Asher entered into an
agreement (the “October Agreement”) whereby Asher granted the Company the right
to prepay the Notes.
Prepayment of the June
Note
Under the
terms of the October Agreement, in consideration for Asher permitting the
Company to prepay the June Note, the Company agreed to prepay 150% of the
principal amount of the June Note together with the accrued and unpaid interest
on the initial principal amount as follows:
|
|
·
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The
sum of $38,837 simultaneously with the execution of the October
Agreement.
|
|
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·
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The
sum of $18,997 to be paid on or before November 15,
2010.
|
|
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·
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The
sum of $18,873 to be paid on or before December 15,
2010.
|
Prepayment of the July
Note
Under the
terms of the October Agreement, in consideration for Asher permitting the
Company to prepay the July Note, the Company agreed to prepay 150% of the
principal amount of the July Note together with the accrued and unpaid interest
on the initial principal amount as follows:
|
|
·
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The
sum of $26,856 simultaneously with the execution of the October
Agreement.
|
|
|
·
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The
sum of $13,298 to be paid on or before November 15,
2010.
|
|
|
·
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The
sum of $13,211 to be paid on or before December 15,
2010.
|
The
foregoing information is a summary of each of the agreements involved in the
transaction described above, is not complete, and is qualified in its entirety
by reference to the full text of those agreements, each of which is attached an
exhibit to this Current Report on Form 8-K/A. Readers should review
those agreements for a complete understanding of the terms and conditions
associated with this financing transaction.
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Item
9.01
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Financial
Statements and Exhibits.
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|
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(a)
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Financial
statements of business acquired.
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Not
applicable.
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(b)
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Pro
Forma Financial statements.
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Not
applicable.
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(c)
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Shell
company transactions.
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Not
applicable.
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(d)
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Exhibits.
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Exhibit
Number
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Description
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10.1
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Agreement
by and between Asher Enterprises, Inc. and Global Investor Services, Inc.,
dated October 20,
2010
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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.
| GLOBAL INVESTOR SERVICES, INC. | ||
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By:
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/s/ Bill Kosoff |
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Name:
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Bill
Kosoff
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|
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Title:
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Chief
Financial Officer and
Director
|
|
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Date:
|
October
25, 2010
New York, New
York
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