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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) January 14, 2011
DayStar Technologies, Inc.
(Exact Name of Registrant as Specified in Charter)
Delaware | 001-34052 | 84-1390053 | ||
(State or Other Jurisdiction of Incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
1010 South Milpitas Boulevard
Milpitas, California 95035
(Address of Principal Executive Offices) (Zip Code)
(408) 582-7100
(Registrants telephone number, including area code)
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 January 14, 2011, DayStar Technologies, Inc. (the Company) entered into Amendments to Notes (the Note Amendments) with Dynamic Worldwide Solar Energy, LLC (Dynamic), as well as William Steckel, Robert Weiss, TD Warehouse RRSP Account 230832S, in trust for Peter Lacey, Michael Moretti, and Tejas Securities Group, Inc. 401K Plan and Trust, FBO John Gorman, (collectively, the Bridge Lenders). As previously disclosed, the Bridge Lenders have loaned the Company an aggregate principal amount of $5,255,000 as evidenced by a series of convertible promissory notes (the Notes), convertible into shares of the Companys common stock and all containing a maturity date of January 22, 2011. Pursuant to the Note Amendments, the Bridge Lenders have agreed to extend the maturity date of the Notes to April 22, 2011. There were no other changes to the terms of the Notes as a result of the Note Amendments. The Note Amendments are filed herewith as Exhibits 10.1 and 10.2 and incorporated by reference into this Item 1.01.
Item 9.01 | Financial Statements and Exhibits. |
(d) | Exhibits. |
The following exhibits are filed herewith:
Exhibit |
Description | |
10.1 | Amendment to Note between DayStar Technologies, Inc. and Dynamic Worldwide Solar Energy, LLC | |
10.2 | Amendment to Note between DayStar Technologies, Inc. and the Bridge Lenders |
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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 hereunto duly authorized.
DAYSTAR TECHNOLOGIES, INC. | ||||||
Date: January 21, 2011 | By | /s/ Magnus Ryde | ||||
Magnus Ryde | ||||||
CEO |
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EXHIBIT INDEX
Exhibit |
Description | |
10.1 |
Amendment to Note between DayStar Technologies, Inc. and Dynamic Worldwide Solar Energy, LLC | |
10.2 |
Amendment to Note between DayStar Technologies, Inc. and the Bridge Lenders |
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