Environmental Service Professionals, Inc. - Current report filing (8-K)
June 25 2008 - 2:10PM
Edgar (US Regulatory)
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): June 20, 2008
ENVIRONMENTAL SERVICE PROFESSIONALS, INC.
(Exact name of registrant as specified in its charter)
NEVADA
(State or other jurisdiction of incorporation)
1-14244 84-1214736
---------------------------------------- -------------------------------------
(Commission File Number) (I.R.S. Employer Identification No.)
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1111 EAST TAHQUITZ CANYON WAY, SUITE 110, PALM SPRINGS, CALIFORNIA 92262
(Address of principal executive offices) (Zip Code)
(760) 327-5284
(Registrant's telephone number, including area code)
(Former name, former address and former fiscal year,
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.
[_] Written communications pursuant to Rule 425 under the Securities Act (17
CFR240.14d-2(b))
[_] Soliciting material pursuant to Rule 14a-12 under Exchange Act (17
CFR240.14a-12)
[_] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR240.14d-2(b))
[_] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR240.13e-4(c))
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SECTION 1. REGISTRANT'S BUSINESS AND OPERATIONS
Item 1.01 Entry into a Material Definitive Agreement.
On June 20, 2008, Environmental Service Professionals, Inc., a Nevada
corporation (the "Company") entered into a Stock Purchase Agreement (the
"Agreement") with International Media Fund (IMF), a Delaware corporation
("Purchaser") with an effective date of June 18, 2008. Pursuant to the terms of
the Agreement, the Purchaser agreed to purchase from the Company 2,155,172 units
(the "Units") of the Company's securities at a price of $2.32 per Unit. Each
Unit will consist of four shares of the Company's common stock (the "Shares")
and one warrant (the "Warrants") to purchase one additional share of the
Company's common stock. Each Warrant will entitle the holder to purchase one
additional share of the Company's common stock for a period of three (3) years
from the date of issuance for a purchase price of $0.75 per share. A copy of the
Stock Purchase Agreement is attached to this report as an Exhibit.
Purchaser has agreed that on or about June 25, 2008, Purchaser shall
pay to the Company for the Units the aggregate sum of Five Million Dollars
($5,000,000) (the "Purchase Price") by certified or cashier's check or wire
transfer of immediately available funds into one or more bank accounts
designated in writing by the Company in a single release.
On June 20, 2008, the Company also entered into an Investor Rights
Agreement with Purchaser, a copy of which is attached to this report as an
Exhibit.
SECTION 9. FINANCIAL STATEMENTS, PRO FORMA FINANCIALS & EXHIBITS
(d) Exhibits
99.1. Stock Purchase Agreement with International Media Fund,
a Delaware corporation, dated as of June 18, 2008.
99.2. Investor Rights Agreement with International Media Fund,
a Delaware corporation, dated as of June 18, 2008.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the registrant has duly caused this report to be signed on its behalf
by the undersigned, thereunto duly authorized.
ENVIRONMENTAL SERVICE PROFESSIONALS, INC.
(Registrant)
Date: June 24, 2008
/s/ Edward Torres, Chief Executive Officer
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Edward Torres, Chief Executive Officer
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