Attached files
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)
SEPTEMBER 6, 2011
PASSUR AEROSPACE, INC.
(Exact name of registrant as specified in its charter)
NEW YORK 0-7642 11-2208938
(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
ONE LANDMARK SQUARE, SUITE 1900
STAMFORD, CT
(Address of principal executive offices)
203-622-4086
Registrant's telephone number, including area code
Former name or former address, if changed since last report:
NOT APPLICABLE
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 September 6, 2011, PASSUR Aerospace, Inc. (the "Company") entered into an
amendment (the "Amendment") to the Secured Promissory Note (the "Note") issued
by the Company on May 9, 2011 to G.S. Beckwith Gilbert, the Company's Chairman
and significant shareholder. Pursuant to the terms of the Amendment, the
interest rate on the Note will be reduced from 9% per annum to 6% per annum and
the Company's option to pay interest at the annual rate of 3% in cash or added
to the principal of the Note "payment in kind" at the option of the Company, is
discontinued. From and after September 6, 2011, the Note will bear interest at
an annual rate of 6%, payable in cash. The foregoing description of the
Amendment is not complete and is subject to and qualified in its entirety by
reference to the Amendment, a copy of which is attached hereto as Exhibit 10.1
and the terms of which are incorporated herein by reference.
--------------------------------------------------------------------------------
ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS.
(d) Exhibits
10.1 Amendment No.1 to Secured Promissory Note, dated September 6, 2011
--------------------------------------------------------------------------------
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, Registrant
has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.
PASSUR AEROSPACE, INC.
Registrant
September 6, 2011 By: /s/ Jeffrey P. Devaney
--------------------------------
Name: Jeffrey P. Devaney
Title: Chief Financial Officer
--------------------------------------------------------------------------------
EXHIBIT INDEX
EXHIBIT DESCRIPTION
NO.
---------- --------------------------------------------------------------------
10.1 Amendment No.1 to Secured Promissory Note, dated September 6, 2011
--------------------------------------------------------------------------------
