Z Trim Holdings, Inc - Current report filing (8-K)
17 Dezembro 2007 - 8:32PM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
__________________________________
FORM
8-K
CURRENT
REPORT
PURSUANT
TO SECTION 13 OR 15(d) OF
THE
SECURITIES EXCHANGE ACT OF 1934
Date
of
Report (date of earliest event reported): December 17, 2007
__________
Z
TRIM HOLDINGS, INC.
(Exact
name of registrant as specified in its charter)
Illinois
|
000-27841
|
22-3768777
|
(State
or other jurisdiction of
incorporation
or organization)
|
(Commission
file number)
|
(I.R.S.
employer
identification
no.)
|
|
|
|
1011
Campus Drive
Mundelein,
IL 60060
(Address
of principal executive offices)
|
|
60060
(Zip
code)
|
Registrant’s
telephone number, including area code:
(847)
549-6002
(Former
name or former address, if changed since last report)
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 Instruction 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))
|
[ ]
|
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act
(17 CFR
240.13e-4(c))
|
Item
7.01 Regulation
FD Disclosure
On
December 17, 2007 the Company issued a press release reporting the matters
described in Item 8.01 herein. A copy of the press release is
attached hereto as Exhibit 99.
Item
8.01 Other
Information
Update
Regarding Status of Zaghi Litigation
As
the
Company previously reported, on August 8, 2007, the Company settled its
litigation with Farhad Zaghi and related parties (collectively, “Zaghi”) in
which the Company had sued Zaghi for collection of amounts owing on a promissory
note and Zaghi had counterclaimed for fraud and other causes of
action. On October 16, 2007, the Company and Zaghi amended their
settlement agreement.
Under
the
revised settlement agreement, the Company was obligated to issue to a Zaghi
affiliate and register for sale at least 1,950,000 shares of the Company’s
common stock, which were to be liquidated at the market with proceeds of the
sale inuring to Zaghi’s benefit. Zaghi had agreed that once the total
proceeds reached $1,791,000, Zaghi would dismiss its claims against the
Company. Per the revised settlement agreement, if the Company was
unable to register the initial 1,950,000 shares within 50 days, Zaghi would
have
the right to terminate the settlement agreement and continue
litigating. On November 29, 2007, because the Company had been unable
to register the shares, Zaghi exercised his right to declare the revised
settlement agreement null and void. The parties are now back in
litigation and will attend a court-ordered settlement conference in January
2008. The Company originally sued Zaghi for failure to make payments pursuant
to
a promissory note. Zaghi counter-sued against the Company (for
fraud), Greg Halpern individually (for fraud and breach of contract), and the
other directors individually (for fraud).
Item
9.01. Financial
Statements and Exhibits.
(d) Exhibits.
No.
|
Description
|
|
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99
|
Press
Release dated December 17, 2007
|
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 thereunto
duly authorized.
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Z
TRIM HOLDINGS,
INC.
|
|
|
|
|
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December
17,
2007
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By:
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/s/
Steven J.
Cohen
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|
|
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Steven
J.
Cohen
|
|
|
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President
|
|
No.
|
Description
|
|
|
99
|
Press
Release dated December 17, 2007
|
3
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