Attached files
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| EX-10.1 - WESTERN CAPITAL RESOURCES, INC. | v210107_ex10-1.htm |
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
CURRENT
REPORT
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 26,
2011
WESTERN
CAPITAL RESOURCES, INC.
(Exact
name of registrant as specified in its charter)
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Minnesota
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000-52015
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47-0848102
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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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11550 “I”
Street, Suite 150
Omaha,
Nebraska 68137
(Address
of principal executive offices) (Zip Code)
(712)
322-4020
(Registrant’s
telephone number, including area code)
(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:
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o
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
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o
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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o
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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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o
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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
1.01
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Entry
Into a Material Definitive
Agreement.
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On January 26, 2011, Western Capital
Resources, Inc. and Wyoming Financial Lenders, Inc., the wholly owned payday
lending operating subsidiary of Western Capital Resources, entered into a Loan
Extension Agreement with WERCS, relating to the outstanding debt of Wyoming
Financial Lenders owed to WERCS. Presently, the outstanding debt owed
to WERCS totals $2,000,000. The Loan Extension Agreement extends the
maturity date for the payment of all obligations under the Business Loan
Agreement, dated as of April 1, 2010, and associated promissory note from April
1, 2011 to April 1, 2012. WERCS agreed to the extension on the
condition that Wyoming Financial Lenders tender to WERCS a $1,000,000 principal
payment on the promissory note on or prior to March 31, 2011.
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Item
9.01
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Financial
Statements and Exhibits.
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(d)
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Exhibits.
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Exhibit No.
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Description
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10.1
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Loan
Extension Agreement among Wyoming Financial Lenders, Inc., Western Capital
Resources, Inc. and WERCS, dated effective as of January 26, 2011 (filed
herewith)
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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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WESTERN
CAPITAL RESOURCES, INC.:
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(Registrant)
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Date: February
4, 2011
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By:
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/s/ John
Quandahl
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John
quandahl
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Chief
Executive Officer
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EXHIBIT
INDEX
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Exhibit No.
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Description
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10.1
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Loan
Extension Agreement among Wyoming Financial Lenders, Inc., Western Capital
Resources, Inc. and WERCS, dated effective as of January 26, 2011 (filed
herewith)
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