Current Report Filing (8-k)
August 16 2016 - 6:19AM
Edgar (US Regulatory)
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): August 16, 2016
(Exact
name of registrant as specified in its charter)
Nevada
(State
or other jurisdiction of incorporation)
000-29363
(Commission
File Number)
88-0343702
(I.R.S.
Employer Identification No)
1771
E. Flamingo Rd #201-A
Las
Vegas, NV 89119
(Address
of principal executive offices)
(702)
734-3457
(Registrant’s
telephone number, including area code)
Not
Applicable
(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:
[ ]
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
1.01
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LEGAL
PROCEEDINGS.
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Players
Network (the “Company” or “Registrant”) on August 12th 2016, after a long dispute, between Registrant,
Mr. Bradley our Chief Executive Officer and Vis Vires Group, Inc and other defendant pursuant to two pending litigations entered
into a satisfying definitive Settlement Agreement attached hereto as Exhibit 1.01
and will soon file a “stipulation
and order of dismissal”.
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Item
1.01
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Entry
into a Material Definitive Agreement.
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On August 5
th
, 2016,
Registrant and Mr. Bradley individually entered into a Settlement Agreement, with Vis
Vires Group, Inc, and ales., negotiated by JS Barkats, PLLC on its behalf ending two
litigations and a long dispute and claim by Vis Vires Group, Inc., and releasing all
the parties including but not limited to, KBM Worldwide Inc., Asher Enterprises Inc,
Curt and Seth Kramer. Pursuant to the terms of the Settlement signed August 12
th
by Vis Veres Group, Inc, KBM Worldwide Inc, Registrant and the various parties
involved in the dispute and counterclaims. The terms of the Settlement Agreement requires
form Registrant to make a payment of $70,000 from the original loan of $64,000 payable
in four equal tranches which started August 6
th
, 2016 and shall be completed
by November 3
rd
2016. This settlement is a fair and satisfactory settlement
for the Company preventing Vis Vires Group, Inc and its affiliates to convert the Company’s
common stock and potentially undermine the Company’s market value or include other
payments and fees that would have been associated with this loan. Failure to make payment
and cure within a timely fashion may have some serious consequences. The Settlement allows
Responds and its CEO to focus on the business operation of the Company and avoid further
delays.
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Item
9.01.
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Financial
Statements and Exhibits.
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(d)
Exhibits.
Exhibit:
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Description:
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1.01
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Settlement
Agreement dated August 12
th
2016
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SIGNATURES
Pursuant
to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its
behalf by the undersigned hereunto duly authorized.
August
16, 2016
By:
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Mark Bradley, Chief Executive Officer
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