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): November 4, 2010
SAVWATT USA, INC.
(Exact name of registrant as specified in its charter)
Delaware 000-52402 27-2478133
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification Number)
6801 Eastern Avenue, Suite 203, Baltimore, Maryland 21224
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (866) 641-3507
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 communication pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communication pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.133-4(c))
ITEM 801 OTHER EVENTS.
The Company was originally incorporated on October 20, 2006 under the name of
Ludvik Capital, Inc. In 2010, our name was changes to SavWatt USA, Inc. to
reflect our new primary business of producing, marketing and selling Light
Emitting Diode ("LED") lighting. In furtherance of our new business, we have
obtained the exclusive marketing rights in the United States to sell LED street
lighting for Unilumin, a Chinese company.
Prior to our entry into the LED lighting business, we were engaged in the
business of providing long-term equity and debt investment capital to fund
growth, acquisitions and recapitalizations of small and middle market companies
in a variety of industries, primarily located in the United States.
On January 12, 2007, we filed a Form 10 registration statement with the
Securities and Exchange Commission and became subject to the reporting
requirements of the Securities Exchange Act of 1934 ("Exchange Act"). Since
January 12, 2007, we have filed numerous Current Reports on Form 8-K, many of
which included unaudited interim financial information that would have
ordinarily been reported on a Form 10-Q Quarterly Report. However, since the
Company had not filed Form 10-K Annual Reports for the fiscal years ended
December 31, 2009, 2008, 2007 and 2006, and had not filed the interim Form 10-Q
Quarterly Reports for the 2010, 2009, 2008 and 2007 fiscal years, the Company
was delinquent in its reporting obligations under the Exchange Act.
On March 31, 2010, Sutton Global Associates, Inc., a company owned and
controlled by Isaac H. Sutton, our current President, acquired a controlling
interest in the Company and set about guiding the Company's entry into our new
LED lighting business. Recognizing that the Company was delinquent in its
Exchange Act reporting obligations, Mr. Sutton organized a team of accountants,
auditors and securities attorneys to bring the Company into compliance with its
reporting obligations under the Exchange Act.
Between August 17, 2010, and August 25, 2010, the Company filed with the SEC all
of the delinquent Form 10-K Annual Reports for the Fiscal Years Ended December
31, 2009, 2008, 2007 and 2006, and filed all Form 10-Q Quarterly Reports due for
the 2010, 2009, 2008 and 2007 fiscal years. Following the following of all of
these reports, the Company became current in its Exchange Act filing obligations
for the periods indicated.
When the above Form 10-Ks and Form 10-Qs were filed with the SEC, the Company
inadvertently checked the box on the cover sheet of those reports to indicate
that the Company was a "shell company" as defined in Rule 12b-2 of the Exchange
Act, when, in fact, the Company has never been a shell company and is not
currently a shell company.
In fact, the Company has been very active and has conducted substantial
operations and has had more than nominal cash and/or assets since its inception,
as discussed in our numerous Current Reports on Form 8-K filed with the SEC
during 2007-2010.
2
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the Registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
DATED: November 4, 2010
SAVWATT USA, INC.
By: /s/ Isaac H. Sutton
--------------------------------
Isaac H. Sutton
President
