News Column

SPEEDEMISSIONS INC FILES (8-K) Disclosing Other Events

August 14, 2014

Item 8.01 Other Events.

On August 8, 2014, we received hard copy of Demand for Payment of $791,206.79 pursuant to Credit Agreement, dated June 8, 2012, as Amended by that Second Amendment to Credit Agreement, dated October 23, 2013 and Replacement and Consolidated Revolving Note, dated October 23, 2013; and Richard Parlontieri pursuant to Validity Guaranty, dated June 8, 2012 from TCA Global Credit Master Fund, L.P. and Trafalgar Capital Advisors, LLC ("TCA"). According to the notice, the demand of Speedemissions is a result of failure to make timely payments. We do not agree with this action and are currently negotiating with TCA regarding options to remedy this default, but have no resolution as of the date of this report.


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Source: Edgar Glimpses

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