Inrob Tech Ltd. - Current report filing
29 Oktober 2007 - 4:48PM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
DC 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 OR 15(d) of the Securities and Exchange Act of
1934
Date
of
Report (Date of earliest reported): October 23, 2007
Inrob
Tech Ltd.
(Exact
name of registrant as specified in charter)
Nevada
|
|
000-49950
|
|
88-0219239
|
(State
or other jurisdiction
|
|
(Commission
|
|
(IRS
Employer
|
of
incorporation)
|
|
File
Number)
|
|
Identification
No.)
|
1515
Tropicana Ave., Ste. 140, Las Vegas, NV
|
|
89119
|
(Address
of principal executive offices)
|
|
(Zip
Code)
|
Registrant’s
telephone number, including area code: (702) 795-3601
Copies
to:
Marc
J.
Ross, Esq.
Louis
A.
Brilleman, Esq.
Sichenzia
Ross Friedman Ference LLP
1065
Avenue of the Americas
New
York,
New York 10018
Phone:
(212) 930-9700
Fax:
(212) 930-9725
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 (see General Instructions A.2. below):
|
Written
communications pursuant to Rule 425 under the Securities Act (17
CFR
230.425)
|
|
|
|
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
|
|
|
|
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR
240.14d-2(b))
|
|
|
o
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR
240.13e-4(c))
|
ITEM
1.01 Entry into a Material Definitive Agreement
ITEM
2.03 Creation of a Direct Financial Obligation or an Obligation under an
Off-Balance Sheet
Arrangement
of a Registrant
On
October 23, 2007, InRob Tech Ltd. (the “Company”) entered into an amendment (the
“Amendment”) to a subscription agreement (the “Agreement”) dated March 27, 2007,
with a group of accredited investors (the “Investors”) that provided for the
issuance to the Investors of the Company’s 8% convertible notes in the principal
amount of $3,000,000 (the “Notes”). The Notes mature two years from the date of
issuance.
Under
the
terms of the Amendment, the Company is no longer required to register the shares
issuable upon conversion of the Notes and exercise of the warrants issued in
connection with the Agreement (the “Warrants”). The interest under the Notes was
increased to 18% and is deemed to have accrued from the date of issuance of
the
Notes. The Company will be required to make principal and interest payments
under the Notes in common stock only. The exercise price of the warrants was
reduced to $0.25 and their expiration date was fixed at the sixth anniversary
of
the Closing Date.
ITEM
9.01
Financial
Statements and Exhibits
(a)
|
Financial
statements of businesses acquired.
|
Not
applicable.
(b)
|
Pro
forma financial information.
|
Not
applicable.
(c)
Exhibits
Exhibit
Number
|
|
Description
|
10.7
Amendment
to Subscription Agreement
SIGNATURES
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 hereunto
duly authorized.
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INROB
TECH LTD.
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|
|
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Date:
October 29, 2007
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/s/
BEN-TSUR JOSEPH
|
|
Ben-Tsur
Joseph,
|
|
Chief
Executive Officer
|
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