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 23, 2010
DOCUMENT
SECURITY SYSTEMS, INC.
(Exact
name of registrant as specified in its charter)
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New
York
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1-32146
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16-1229730
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(State
or other jurisdiction of incorporation)
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(Commission
File Number)
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(IRS
Employer Identification No.)
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First
Federal Plaza, Suite 1525
28
East Main Street
Rochester,
NY
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14614
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(Address
of principal executive offices)
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(Zip
Code)
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Registrant’s
telephone number, including area code: (585) 325-3610
Not
Applicable
(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):
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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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Item
3.02 Unregistered Sales of Equity Securities.
On
December 24, 2010, the holder of a $450,000 Convertible Note dated December 24,
2009, exercised the conversion feature of the note for 260,116 shares of
Document Security Systems Common Stock, par value $0.02 which retired the debt
in full.
Item 8.01 Other
Events
On
December 23, 2010, the Registrant was notified by Trebuchet Capital Partners,
LLC that the Dutch Court issued its decision in an appeal of a previous
favorable patent validity decision which was brought by the European Central
Bank against Document Security Systems, Inc. The Dutch Court has ruled that
European Patent No 0455750B1, that was awarded to the Company by the European
Patent Office and upheld as “valid” in a previous hearing in the Cutch Court,
has now been deemed invalid in the Netherlands.
Item
9.01 Financial Statements and Exhibits
(d) Exhibits
Exhibit
No.
Description
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10.1
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$450,000
Convertible Promissory Note dated December 24, 2009.( (incorporated herein
by reference from registrant’s Current Report
on Form 8-K filed with the SEC on December 30,
2009).
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SIGNATURE
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.
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DOCUMENT
SECURITY SYSTEMS, INC.
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Dated:
December 27, 2010
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By:
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/s/
Patrick A. White
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Patrick
A. White
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Chief
Executive Officer
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