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DRINKS AMERICAS HOLDINGS, LTD FILES (8-K) Disclosing Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant, Other Events, Financial Statements and Exhibits

February 26, 2014



Item 2.03 Creation of a Direct Financial Obligation

On February 24, 2014, Drinks Americas Holdings, Inc. (the "Company") entered into a second amendment agreement (the "Amendment") with IBC Funds LLC ("IBC"), to certain 8% Convertible Unsecured Promissory Notes (the "Notes") in principal amount of $35,000, $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 amended by that certain First Amendment Agreement to Convertible Promissory Notes dated January 9, 2014.

Pursuant to the Amendment, IBC agreed to waive any and all interest accrued on the Notes through March 15, 2014 and the Company agreed to include as additional events of default under the Notes the Company's failure (i) to file with the Securities Exchange Commission, by March 1, 2014, the Company's Annual Report on Form 10-K for the fiscal year ended April 30, 2013, which failure is not cured within 3 Business Days; and (ii) to file with the Securities Exchange Commission, by March 15, 2014, the Company's Quarterly Reports on Form 10-Q for the quarterly periods ended July 31, 2013 and October 31, 2013, which failure is not cured within 3 Business Days.

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 8.01 Other Events



Effective March 1, 2014, the Company's principal executive offices will change from 4101 Whiteside Street, Los Angeles, CA 90063 to 25 W. Easy Street, #306, Simi Valley, CA 93065.

Item 9.01 Financial Statements and Exhibits

(c) Exhibits Exhibit No. Description 10.1* Form of Convertible Promissory Note 10.2** Second Amendment to Convertible Promissory Notes



* Incorporated by reference to the Exhibit 10.1 filed with the Current Report on Form 8-K filed with the Securities and Exchange Commission on January 15, 2014. ** Filed herewith.

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Source: Edgar Glimpses


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