Current Report Filing (8-k)
December 04 2014 - 10:24AM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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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):
December 2, 2014
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TITAN ENERGY WORLDWIDE, INC.
(Exact name of registrant
as specified in its charter)
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Nevada |
26-0063012 |
(State of incorporation) |
(I.R.S. Employer Identification No.) |
6321 Bury Dr. Suite 8
Eden Prairie, MN 55346
(Address of principal
executive offices)
(619) 988-5869
(Registrant’s
telephone number, including area code)
______________________
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 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the
Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b)
under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4
(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 1.02 Termination of a Material Definitive Agreement
On December 2, 2014,
Steller Energy Services (doing business as Titan Energy Systems) (“Stellar”), a wholly-owned subsidiary
of Titan Energy Worldwide, Inc., a Nevada corporation (the “Company”), repaid $1,435,449.79 (the “Payoff
Amount”) to Harborcove Financial Services LLC (“Harborcove”) in full satisfaction of the
total outstanding principal, all accrued and unpaid interest thereon and all other fees owed to Harborcove under an accounts receivable
facility. Upon payment in full of the Payoff Amount, (i) all Harborcove liens on and security interests in the assets of Stellar
and Grove Power, Inc., a wholly-owned subsidiary of the Company (“Grove Power”), were released, discharged
and terminated, and (ii) Stellar, and its respective designees were authorized, at Stellar’s sole cost and expense, to file
such Uniform Commercial Code amendments and termination statements as they may deem appropriate or necessary to terminate any financing
statements on record naming Stellar, Grove Power or any of their or the Company’s affiliates, as debtor, and Harborcove,
as secured party.
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 hereunto duly authorized.
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TITAN ENERGY WORLDWIDE, inc. |
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Date: December 4, 2014 |
By: |
/s/ Andrew Minkow |
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Name: |
Andrew Minkow |
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Title: |
Chief Financial Officer |
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