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NOOF > SEC Filings for NOOF > Form 8-K on 18-Jun-2009All Recent SEC Filings

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Form 8-K for NEW FRONTIER MEDIA INC


18-Jun-2009

Creation of a Direct Financial Obligation or an Obligation under an Off-Ba


Item 2.03 Creation of a Direct Financial Obligation.

On June 15, 2009, we extended the maturity date of our $9 million line of credit with First Community Bank from July 5, 2009 to December 15, 2009, pursuant to a Change in Terms Agreement and related updated Business Loan Agreement, copies of which will be filed as exhibits to our Form 10-Q for the quarter ending June 30, 2009. The remaining terms of the line of credit remain substantially identical to the terms previously disclosed, including in our Form 8-K filed with the Commission on July 7, 2008, the information included therein with respect to the line of credit to the extent not updated by this filing is incorporated herein by reference. As of the date hereof, we have outstanding under the line of credit approximately $4 million in aggregate principal amount, and we paid a loan origination fee in connection with the extension of approximately $17,000. We currently have no immediate plans to borrow additional funds under the extended line of credit. Investors are encouraged to read the full terms of the definitive agreements when they become available, and are encouraged to review in the interim the full terms of the Business Loan Agreement previously filed with the Commission as an exhibit to our Form 10-Q for the quarter ended June 30, 2008, the terms of which remain applicable in all material respects except as otherwise provided herein.

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