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TX HOLDINGS, INC. FILES (8-K) Disclosing Entry into a Material Definitive Agreement

August 29, 2014



Item 1.01 Entry into a Material Definitive Agreement

On August 26, 2014TX Holdings, Inc., a Georgia corporation (the "Company"), executed an increase in its outstanding bank line of credit obligation from $250,000 to $750,000. The loan is secured by a priority security interest in the Company's inventory and matures on November 7, 2015. Interest on the loan is payable monthly and is calculated on the basis of an independent variable indexed rate which is currently 3.250% per annum. The loan is guaranteed as to principal and interest and all collection costs and legal fees by Mr. Shrewsbury (Chief Executive Officer). All notes and other indebtedness due to Mr. Shrewsbury by the Company are subordinated to the bank loan including with regard to the Company's inventory and assets.

Forward-Looking and Cautionary Statements

Except for historical information and discussions contained herein, statements contained in this Current Report on Form 8-K may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (PSLRA) and other applicable law. These statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially, including those risks, uncertainties and factors discussed in our Quarterly Reports on Form10-Q, our Annual Reports on Form 10-K, and in our other filings with the SEC or in materials incorporated therein by reference. Any forward-looking statement in this report speaks only as of the date on which it is made. We assume no obligation to update or revise any forward-looking statement. Notwithstanding the above, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, expressly state that the safe harbor for forward looking statements does not apply to companies that issue penny stocks. Because we may from time to time be considered to be an issuer of penny stock, the safe harbor for forward looking statements under the PSLRA may not be apply to us at certain times.


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Source: Edgar Glimpses


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