Attached files
| file | filename |
|---|---|
| EX-10.10 - Progreen US, Inc. | v199397_ex10-10.htm |
SECURITIES
AND EXCHANGE COMMISSION
Washington,
DC 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): October 18, 2010
PROGREEN
PROPERTIES, INC.
(Exact
Name of Registrant as Specified in Its Charter)
|
Delaware
|
000-25429
|
59-3087128
|
|
(State
or Other Jurisdiction
|
(Commission
|
(
I.R.S. Employer
|
|
of
Incorporation)
|
File
Number)
|
Identification
No.)
|
|
380
North Old Woodward Ave., Suite 226, Birmingham, MI
|
48009
|
|
(Address
of Principal Executive Offices)
|
(Zip
Code)
|
Registrant's
telephone number, including area code: (248) 530-0770
_____________________________________________
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):
{ }
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.
Effective
October 18, 2010, we have amended the Standby Equity Purchase
Agreement, dated as of August 24, 2010 (the “SEP Agreement”), with LeadDog
Capital, LP, which provides that, upon the terms and subject to the conditions
specified therein, Leaddog Capital LP shall invest up to $2,500,000 to purchase
the Company’s common stock.
The SEP
Agreement provided that we are required to file within sixty (60) days of
execution of the SEP Agreement a registration statement (“Registration
Statement”) under the Securities Act of 1933, as amended, and the rules and
regulations promulgated thereunder, and to make any required filings under
applicable state securities laws to register the shares of the common stock
to be purchased by LeadDog Capital, LP pursuant to the SEP
Agreement. We have amended the SEP Agreement to provide that we shall use
our reasonable best efforts to have the Registration Statement filed on or
before March 1, 2011, subject to further extension by agreement of the parties.
We will continue to monitor our need for the financing that would be provided
under the SEP Agreement and the potential effect of that financing on the
marketplace for our common stock.
Item
9.01. Financial Statements
and Exhibits.
(d) Exhibits.
|
Exhibit No.
|
Description
|
|
10.10
|
Amendment,
dated October 18, 2010, to Standby Equity Purchase Agreement, dated August
24, 2010, between the Company and LeadDog Capital,
LP.
|
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.
| PROGREEN PROPERTIES, INC. | |
|
Dated:
October 19, 2010
|
By:
/s/ Jan
Telander
|
|
Jan
Telander, Chief Executive
Officer
|
- 2
-