ITEM 1.01 Entry Into Material Definitive Agreement.
On April 30, 2009, DRI Corporation (the "Company") entered into a Second
Extension Agreement (the "Second Extension Agreement") with Digital Audio
Corporation ("DAC") with respect to that certain Promissory Note issued on
April 30, 2007 (the "Note") by DAC in the original principal amount of
$344,184.50. Under the terms of the Second Extension Agreement, the second
principal payment date under the Note, which was originally scheduled for
April 30, 2009, has been extended until July 30, 2009 with interest to continue
as set forth under the Note. All other terms of the Note remained unchanged and
in effect.
ITEM 9.01 Financial Statements and Exhibits.
Exhibit No. Description
10.1 Second Extension Agreement, dated as of April 30, 2009, by and between
DRI Corporation and Digital Audio Corporation.
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