Unassociated Document
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
Current
Report Pursuant
to
Section 13 or 15(d) of the
Securities
Exchange Act of 1934
Date of Report (Date of
Earliest Event Reported): January
4, 2011 (December 29, 2010)
DOCUMENT
CAPTURE TECHNOLOGIES, INC.
(Exact
name of Registrant as Specified in its Charter)
|
Delaware
|
000-27773
|
80-0133251
|
|
(State
or other jurisdiction of
|
(Commission
File Number)
|
(I.R.S.Employer
|
|
incorporation
or organization)
|
|
Identification
Number)
|
4255
Burton Drive
Santa
Clara, California 95054
(Address
of principal executive offices, Zip code)
408-436-9888
ext. 207
(Registrant’s
telephone number, including area code)
(Former
name or former address, if changed since last report)
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (see General Instruction A.2. below):
o Written communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425).
o Soliciting material
pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a
-12).
o Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d
-2(b)).
o Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e
-4(c))
On
December 29, 2010, Document Capture Technologies, Inc. (the “Company”)
terminated the non-exclusive financial advisory agreement (“Advisory Agreement”)
that it entered into on October 29, 2010 with Garden State Securities (“GSS”)
pursuant to the terms of the Termination Agreement attached hereto as Exhibit
10.1.
Pursuant
to the terms of the termination agreement executed by both parties effective
December 29, 2010, the Company is not required to issue any of the previously
announced 425,000 shares of its common stock to GSS, or its affiliates or
assigns, however, the Company did pay GSS $30,000 in cash pursuant to the terms
of the Advisory Agreement. The Company has no further obligations
pursuant to the agreement to either issue shares of its common stock to GSS or
to make any additional cash payments to GSS.
Item
9.01. Financial Statements and Exhibits.
|
10.1
|
Termination
Agreement dated December 29, 2010
|
This
Current Report on Form 8-K may contain, among other things, certain
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995, including, without limitation, (i) statements
with respect to the Company’s plans, objectives, expectations and intentions;
and (ii) other statements identified by words such as “may”, “could”, “would”,
“should”, “believes”, “expects”, “anticipates”, “estimates”, “intends”, “plans”
or similar expressions. These statements are based upon the current beliefs and
expectations of the Company’s management and are subject to significant risks
and uncertainties. Actual results may differ from those set forth in the
forward-looking statements. These forward-looking statements involve certain
risks and uncertainties that are subject to change based on various factors
(many of which are beyond the Company’s control). The Company does
not undertake a duty to update any forward looking statements made in this Form
8-K.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
| |
DOCUMENT
CAPTURE TECHNOLOGIES, INC.
|
|
| |
|
|
|
|
|
By:
|
/s/
David P. Clark |
|
| |
Name: |
David
P. Clark
|
|
| |
Title: |
Chief
Executive Officer
|
|
| |
|
|
|