Attached files
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): September 18, 2015
GLOBAL EQUITY INTERNATIONAL, INC.
(Exact name of registrant as specified in its charter)
Nevada 000-54557 27-3986073
(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification Number)
X3 Jumeirah Bay, Office 3305, Jumeirah Lake Towers
Dubai, UAE
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: +971 (0) 42767576
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 communication pursuant to Rule 14d-2(b) under the Exchange
Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communication pursuant to Rule 13e-4(c) under the Exchange
Act (17 CFR 240.133-4(c))
ITEM 8.01 OTHER EVENTS
On October 17, 2013, Global Equity International, Inc. "Company") entered
into a Loan Agreement with MMW Capital Limited and ELW Capital Limited ("Loan
Agreement"), pursuant to which the company borrowed (Great Britain
pounds)200,000 (equivalent to U.S. $319,598).
As previously reported in our Form 10-Q Quarterly Report filed on August
12, 2015, the amount due to MMW Capital Limited and ELW Capital Limited under
the Loan Agreement, including interest and penalties, amounted to $1,041,151 at
June 30, 2015.
On September 18, 2015, we entered into an Addendum to the Loan Agreement
("Addendum") in which the parties agreed to revise the terms of the Loan
Agreement making the loan a nonconvertible, non-interest bearing loan. The
Addendum, which supersedes the Loan Agreement, now provides that the principal
and interest due under the Addendum to the Loan Agreement amount to only
$500,000 and that no new or additional interest or penalties may accrue
thereunder in the future.
As a result of the new agreement, the Company is able to write-off $541,151
of debt.
The payment terms of the new agreement allow us to repay the $500,000 over
the course of one year with manageable payment installments.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
(d) Exhibits
Exhibit No. Description of Exhibit
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10.1 Addendum to Loan Agreement, dated September 18, 2015, by and
between the Company and MMW Capital Limited and ELW Capital
Limited.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the Registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
Dated: September 18, 2015
GLOBAL EQUITY INTERNATIONAL, INC.
By: /s/ Enzo Taddei
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Enzo Taddei
Chief Financial Officer