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Quotes & Info
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| ASOG.PK > SEC Filings for ASOG.PK > Form 8-K on 17-Nov-2009 | All Recent SEC Filings |
17-Nov-2009
Termination of a Material Definitive Agreement, Other Events
Effective May 29, 2009, Aussie Soles Group, Inc, (Aussie Soles) and related parties terminate for cause, the sourcing agreement dated August 1, 2007 between Aussie Soles and Shoe Logics, Inc. (Shoe Logics).
Shoe Logics Directors and affiliates were unable to meet the required specifications for production of the two key products of Aussie Soles, delivering orders between 2007 and 2008 that were unable to be sold at the recommended wholesale price, and subsequently costing the Company it's ability to capture any part of the US market.
Per the terms of the agreement, dated August 1, 2007 contained within paragraphs 36-39, Shoe Logics is required to immediately return all properties of Aussie Soles in its possession and/or under its direction and maintain confidentiality of all information pertaining to Aussie Soles in Shoe Logics possession.
Aussie Soles Group, Inc. is seeking compensation for the losses associated with this termination of this sourcing agreement between Shoe Logics, Inc. and that of Aussie Soles Group, Inc.
Aussie Soles Group, Inc. has moved its offical address from 350 Wiconisco Street , Millersburg, PA 10761 to 19 C Trolley Square, Wilmington, DE 19806.
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