News Column

GUARDIAN 8 HOLDINGS FILES (8-K) Disclosing Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant, Financial Statements and Exhibits

April 30, 2014



Item 1.01 Entry into a Material Definitive Agreement.

On April 18, 2014, the Registrant received $90,000 from its CEO/president, C. Stephen Cochennet, in the form of an unsecured term note, which bears interest at 12% per annum is due on July 15, 2014. A copy of Mr. Cochennet's note is attached hereto as Exhibit 10.1.

On April 28, 2014, the Registrant's wholly owned subsidiary, Guardian 8 Corporation, entered into a debt modification agreement with Cornerstone Bank to increase the existing line of credit with Cornerstone from $700,000 to $900,000. All other terms of the line of credit remain the same as originally entered into on or about January 17, 2014. A copy of the debt modification agreement is attached hereto as Exhibit 10.2.

The description herein of the note and debt modification agreement are qualified in their entirety, and the terms are incorporated herein, by reference to the note and debt modification agreement, copies of which are filed as exhibits hereto.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

See Item 1.01 for disclosure of the Cochennet note and Cornerstone debt modification agreement.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits. Exhibit Number Description

10.1 $90,000 term note issued to C. Stephen Cochennet 10.2 Cornerstone Bank Debt Modification Agreement



--------------------------------------------------------------------------------


For more stories on investments and markets, please see HispanicBusiness' Finance Channel



Source: Edgar Glimpses


Story Tools






HispanicBusiness.com Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters