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TTTM > SEC Filings for TTTM > Form 8-K on 22-Oct-2012All Recent SEC Filings

Show all filings for T3 MOTION, INC.

Form 8-K for T3 MOTION, INC.


Entry into a Material Definitive Agreement, Financial Statements and Exhibits

Item 1.01 Entry into a Material Definitive Agreement.

The following discussion provides only a brief description of the applicable documents described below. The discussion is qualified in its entirety by the full text of the respective transaction documents attached to this Current Report on Form 8-K as exhibit 10.1

Note and Security Agreement

On September 14, 2012, T3 Motion, Inc. (the "Company") entered into a Security Purchase Agreement (the "Purchase Agreement") with Perry Trebatch, an accredited investor (the "Investor"). In connection with the Agreement, the Company and the Investor also entered into a Secured Promissory Note Agreement (the "Note") and a Security Agreement. Pursuant to the terms and subject to the conditions set forth in the Purchase Agreement, the Investor provided a senior secured bridge loan to the Company in the aggregate principal amount of $250,000 (the "Loan"). Pursuant to the terms of the Security Agreement, the Loan is secured by all assets of the Company. The Investor delivered net proceeds to the Company in the amount of $250,000. The Note was originally due 7 days following receipt of the net proceeds, or September 21, 2012, but the parties amended the due date of the Note to September 28, 2012, further amended the due date to October 16, 2012, and further amended the due date to October 31, 2012.

On October 17, 2012, the Company and the Investor entered into an amendment which extended the due date of the Note until October 31, 2012. This amendment is included in its entirety as Exhibit 10.1.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits:

No. Description

10.1 Amendment to Secured Promissory Note Agreement, by and between the Company and Perry Trebatch, dated October 17, 2012.

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