Attached files
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| EX-10.1 - EXHIBIT 10.1 - JANEL CORP | v231769_ex10-1.htm |
| EX-10.2 - EXHIBIT 10.2 - JANEL CORP | v231769_ex10-2.htm |
| EX-10.3 - EXHIBIT 10.3 - JANEL CORP | v231769_ex10-3.htm |
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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): August 1, 2011
JANEL WORLD TRADE, LTD.
(Exact name of registrant as specified in its charter)
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Nevada
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333-60608
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86-1005291
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(State or Other Jurisdiction
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(Commission File Number)
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(IRS Employer
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of Incorporation)
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Identification No.)
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150-14 132nd Avenue, Jamaica, New York 11434
(Address of Principal Executive Offices)
Registrant’s telephone number, including area code: (718) 527-3800
Inapplicable
(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:
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¨
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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¨
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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¨
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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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¨
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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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INFORMATION TO BE INCLUDED IN THE REPORT
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Item 1.01.
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Entry into a Material Definitive Agreement.
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On August 1, 2011, the Registrant extended the term of its $3.5 million revolving line of credit agreement with Community National Bank (“CNB”) from July 31, 2011 to July 31, 2012. All other terms of the CNB credit facility remained unchanged.
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Item 2.03.
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Creation of Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of the Registrant.
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The information required by this Item is described in Item 1.01 above.
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Item 9.01.
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Financial Statements and Exhibits.
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(d) Exhibits
The following exhibits are filed herewith:
Exhibit No.
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10.1
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Promissory Note dated August 1, 2011 made by Registrant’s subsidiary, The Janel Group of New York, Inc., payable to Community National Bank
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10.2
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Business Loan Agreement dated August 1, 2011 between Registrant’s subsidiary, The Janel Group of New York, Inc., and Community National Bank
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10.3
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Form of Commercial Security Agreement dated August 1, 2011 made by Registrant and its subsidiaries for the benefit of Community National Bank, securing Registrant’s and its subsidiaries’ respective obligations under to Community National Bank
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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 thereunto duly authorized.
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JANEL WORLD TRADE, LTD.
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(Registrant)
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Date: August 11, 2011
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By:
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/s/ James N. Jannello
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James N. Jannello
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Chief Executive Officer
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