Attached files
| file | filename |
|---|---|
| EX-10.2 - EXHIBIT 10.2 - Panglobal Brands Inc. | ex10-2.htm |
| EX-10.1 - EXHIBIT 10.1 - Panglobal Brands Inc. | ex10-1.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)
|
November
24, 2009
|
|
PANGLOBAL
BRANDS INC.
|
|
(Exact
name of registrant as specified in its
charter)
|
|
Delaware
|
333-131531
|
20-8531711
|
|
(State
or other jurisdiction
of
incorporation)
|
(Commission
File
Number)
|
(IRS
Employer
Identification
No.)
|
|
2853
E. Pico Blvd., Los Angeles CA 90023
|
|
(Address
of principal executive offices) (Zip
Code)
|
|
Registrant’s
telephone number, including area code
|
323
266-6500
|
|
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 (see
General Instruction A.2. below):
o Written communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material
pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
o 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
November 24, 2009, we entered into a loan agreement with Providence Wealth
Management Ltd., a company incorporated under the laws of the British Virgin
Islands, whereby Providence agreed to loan our company the aggregate principal
amount of US$290,000 bearing interest 9% per annum calculated and compounded
monthly, payable in full 30 days after advance, unless sooner prepaid or
accelerated upon.
A copy of
the loan agreement is attached as exhibit 10.1 to this current report on
Form 8-K.
As
security for the Loan, we entered into a Trade-Mark Assignment Agreement dated
November 24, 2009, with Providence whereby we will assign to Providence all of
our right, title and interest to the “Scrapbook” trade-mark as a secured charge
behind Merchant Factors Inc.
A copy of
the loan agreement is attached as exhibit 10.2 to this current report on
Form 8-K.
|
Item
9.01
|
Financial
Statements and Exhibits.
|
|
(d)
|
Exhibits
|
|
10.1
|
|
|
10.2
|
2
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.
PANGLOBAL
BRANDS INC.
By: /s/
Charles Lesser
Charles
Lesser
CEO, CFO
and Secretary
Date:
February 16, 2010
3