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EX-10.1 - CONVERTIBLE LOAN AGREEMENT DATED DECEMBER 15, 2009 BETWEEN OUR COMPANY AND PERATI FINANCE CORP. - Prospect Ventures Inc.exhibit10-1.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) December 15, 2009

DUSSAULT APPAREL INC.

(Exact name of registrant as specified in its charter)

Nevada

(State or other jurisdiction of incorporation)

000-52452
(Commission File Number)

98-0513727
(IRS Employer Identification No.)

2250 East Hastings Street, Vancouver, BC V5L 1V4
(Address of principal executive offices and Zip Code)

604.569.2619
Registrant's telephone number, including area code

N/A
(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:

[ ] 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))


Item 1.01 Entry into a Material Definitive Agreement

On December 15, 2009, the company entered into a Convertible Loan Agreement with Perati Finance Corp. wherein the Perati Finance Corp. lent to our company Thirty Eight Thousand Dollars (US$38,000) at an interest rate of 3% per annum. The loan is convertible into common shares of our company in accordance with the conversion terms of the agreement. The loan is payable in full five years from the advancement date of the loan.


Item 9.01 Financial Statements and Exhibits
   
10.1 Convertible Loan Agreement dated December 15, 2009 between our company and Perati Finance Corp.

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.

DUSSAULT APPAREL INC.

By: /s/ Jason Dussault  
  Jason Dussault  
  President  
     
  Dated: January 26, 2011