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ADTM > SEC Filings for ADTM > Form 8-K on 21-Jan-2014All Recent SEC Filings

Show all filings for ADAPTIVE MEDIAS, INC.

Form 8-K for ADAPTIVE MEDIAS, INC.


21-Jan-2014

Entry into a Material Definitive Agreement, Other Events, Financial Stateme


Item 1.01 Entry into a Material Definitive Agreement.

On January 21, 2014, the Registrant loaned to Qayed Shareef ("Mr. Shareef"), the Registrant's Chief Executive Officer and a member of its Board of Directors, $100,000 (the "Loan") pursuant to a Secured Promissory Note (the "Note") and Stock Pledge Agreement (the "Pledge") attached hereto and filed herewith as Exhibits 10.1 and 10.2, respectively. The Note provides that the Loan shall mature on January 21, 2019, shall accrue simple interest at a rate of 5%, and Mr. Shareef shall make quarterly payments of $1,250 until maturity. The Note is secured by the 18,628,000 shares of the Registrant's Common Stock currently held by Mr. Shareef, pursuant to the terms of the Pledge. The Loan, the Note, and the Pledge and any document or transaction contemplated thereby, were approved by the Registrant's Board of Directors on January 21, 2013, voting without Mr. Shareef. The foregoing is qualified in its entirety by the terms of the Note and the Pledge, and such Note and Pledge are incorporated by reference herein.

Item 5.02 Compensatory Arrangement for Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory Arrangements for Certain Officers.

Reference is made to the disclosure set forth under Item 1.01 of this Current Report on Form 8-K, which disclosure is incorporated herein by reference.



Item 8.01 Other Events

On January 20, 2014, the Registrant relocated its corporate headquarters to 16795 Von Karman Avenue, #240, Irvine, CA 92606.



Item 9.01 Financial Statements and Exhibits

10.1 Secured Promissory Note dated January 21, 2014

10.2 Stock Pledge Agreement dated January 21, 2014

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