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EX-10.2 - EX-10.2 - DRINKS AMERICAS HOLDINGS, LTDex10-2.htm
EX-10.1 - EX-10.1 - DRINKS AMERICAS HOLDINGS, LTDex10-1.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):
January 9, 2014

DRINKS AMERICAS HOLDINGS, LTD.
(Exact Name of Registrant as Specified in its Charter)
 
Delaware
 
000-19086
 
87-0438825
State of
Incorporation
 
Commission
File Number
 
IRS Employer
I.D. Number
 
4101 Whiteside Street, Los Angeles, CA 90063
Address of principal executive offices

Registrant's telephone number: (323) 266-8765
 
                                                                                                  
(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 14-2(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
 
Item 2.03
Creation of a Direct Financial Obligation
 
On January 9, 2014, Drinks Americas Holdings, Inc. (the “Company”) entered into a first amendment agreement (the “Amendment”) with IBC Funds LLC (“IBC”), to certain 8% Convertible Unsecured Promissory Notes (the “Notes”) in principal amount of $70,000, $150,000 and $200,000, which Notes were originally dated as of November 1, 2012 and due May 1, 2013.  As previously reported, the Notes were originally issued to World Wide Beverage Imports, LLC (“WBI”) on November 1, 2012.  WBI assigned the Notes to a third party from whom IBC acquired the Notes.

Pursuant to the Amendment, IBC agreed to extend the maturity of the Notes from May 1, 2013 to January 9, 2015 and to waive, if any, existing or prior defaults under the Notes and the Company agreed to (i) amend the conversion price of the Notes to the equal 35% of the lowest historical traded price of the Company’s common stock.
 
The foregoing information is a summary of the Amendment, and the Notes, is not complete, and is qualified in its entirety by reference to the full text of those agreements, each of which is attached as an exhibit to this Current Report on Form 8-K.  Readers should review those agreements for a complete understanding of the terms and conditions associated with this transaction.
 
Item 9.01
Financial Statements and Exhibits
 
(c)
Exhibits
 
Exhibit No.
 
Description
 
 
 
 

 
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.

Dated:  January 15, 2014
 
 
DRINKS AMERICAS HOLDINGS, LTD.
 
       
   
/s/ Timothy Owens
 
   
Timothy Owens, Chief Executive Officer