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PCFG > SEC Filings for PCFG > Form 8-K on 16-Dec-2013All Recent SEC Filings

Show all filings for PACIFIC GOLD CORP

Form 8-K for PACIFIC GOLD CORP


16-Dec-2013

Entry into a Material Definitive Agreement, Financial Statements and Exhibits


Item 1.01 Entry into a Material Definitive Agreement

As of November 26, 2013, the Pacific Gold Corp. (the "Company") entered into a modification of one of its outstanding notes that it has with Asher Enterprises, Inc. The current principal amount of the note is approximately $44,200, reflecting conversions of approximately $5,800 during the month on November, 2013.

The modification provides for a limitation on the amount of principal that may be converted each week to a maximum of $1,000 between now and April 10, 2014, at which time the full amount of the note principal and interest then outstanding will be due and payable in cash. If the Company fails to pay the amount due on April 10, 2014, then the note will revert to its original terms and the conversions may be as determined by the note holder. Additionally, if there is a breach of the amendment by the Company, the limitation on conversions terminates.

The Company has agreed to take steps to promptly authorize additional shares should there be projected insufficient shares to permit conversion of the note in the future.

There are issued and outstanding 121,467,727 shares of common stock as of December 16, 2013.



Item 9.01 - Financial Statements and Exhibits

(d) Exhibits

Exhibit No.

Description

10.1

Amendment to Promissory Note, dated Novemeber 26, 2013

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