Attached files
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| EX-10 - MATERIAL CONTRACTS - INFINITE GROUP INC | exhibit101.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): April 12,
2021
INFINITE GROUP, INC.
(Exact
name of Registrant as specified in its charter)
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Delaware
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0-21816
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52-1490422
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(State
or other jurisdiction of incorporation)
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(Commission
File Number)
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(I.R.S.
Employer Identification No.)
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175
Sully’s Trail, Suite 202
Pittsford, New York 14534
(Address
of principal executive offices and Zip Code)
Registrant's
telephone number, including area code:
(585) 385-0610
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(Former
name or former address, if changed since last report)
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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:
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 14d-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))
Securities
registered pursuant to Section 12(b) of the Act:
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Title
of each class
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Trading
Symbol(s)
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Name of
each exchange on which registered
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Common
Stock
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IMCI
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OTC
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Indicate
by check mark whether the registrant is an emerging growth company
as defined in Rule 405 of the Securities Act of 1933 (§230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of
1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an
emerging growth company, indicate by check mark if the registrant
has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided
pursuant to Section 13(a) of the Exchange Act.
☐
Section 1 – Registrant’s Business and
Operations
Item 1.01. Entry into a Material
Definitive Agreement
On
April 12, 2021, Infinite Group, Inc. (the “Company”)
entered into a Second Amended Settlement Agreement to settle all
outstanding indebtedness and terminate all commitments and
obligations under its original promissory note dated October 17,
2011 and the First Amended Agreement dated March 15, 2015 (as
amended, the “Loan Agreement”), between the Company and
the Pension Benefit Guaranty Corporation (“PBGC” or
“Lender”). The Company’s payment to the Lender
under the Loan Agreement will be $200,000, which satisfies all of
the Company’s debt obligations to the PBGC. The Company will
not incur any early termination penalties as a result of the
repayment of indebtedness or termination of the Loan
Agreement.
Section 9 – Financial
Statements and Exhibits
Item
9.01.
Financial
Statements and Exhibits
(d)
Exhibits
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Exhibit
Number
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Description
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10.1
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Second
Amended Settlement Agreement between the Company and the Pension
Benefit Guaranty Corporation dated April 12, 2021
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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 thereunto duly authorized.
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Date: April 16, 2021
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INFINITE GROUP, INC.
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By:
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/s/ James Villa
James Villa
Chief Executive Officer
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