- Current report filing (8-K)
November 21 2008 - 3:27PM
Edgar (US Regulatory)
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): November 18, 2008
CINTEL
CORP.
(Exact
name of registrant as specified in its charter)
|
Nevada
(State
or Other Jurisdiction of Incorporation)
|
|
333-100046
(Commission
File Number)
|
|
52-2360156
(I.R.S.
Employer Identification Number)
|
9900
Corporate Campus Drive, Suite 3,000, Louisville, KY 40223
(Address
of principal executive offices) (zip code)
(502)
657-6077
(Registrant's
telephone number, including area code)
Copies
to:
Gregory
Sichenzia, Esq.
Sichenzia
Ross Friedman Ference LLP
1065
Avenue of the Americas
New
York,
New York 10018
Phone:
(212) 930-9700
Fax:
(212) 930-9725
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))
|
Item
1.01 Entry into a Material Definitive Agreement
On
November 18, 2008, Cintel Corp. (the “Company”) entered into an amendment (the
“Amendment”) to the Subscription Agreement with Woori Private Equity Fund
(“Woori”) entered into on March 15, 2007 (the “Subscription Agreement”).
Pursuant to the Subscription Agreement, the Company issued a Bond (the “Bond”)
in the amount of USD$63,000,000 (Korean Won 60,000,000,000). The Amendment
revises the Put/Redemption Option in the Subscription Agreement to provide
that
in the event the Company does not go through the initial public offering process
by
October 31, 2009, Woori will have the right to redeem a partial amount of the
principal amount of the Bond in the amount of KRW 20 billion and receive
interest of 14% per annum compounded from the date of the issuance of the Bond.
In the event the Company does not go through the initial offering process by
October 31, 2010. Woori will have the right to redeem the outstanding principal
amount of the Bond and receive interest of 14% per annum compounded from the
date of the issuance of the Bond. In the event the Company secures the initial
public offering process prior to the end of October 2010, Woori will be entitled
on or after the fourth anniversary to redeem the outstanding principal balance
of the Bond and receive interest of 8% per annum compounded from the date of
issuance of the Bond.
Item
9.01
Financial Statements and Exhibits.
|
Exhibit
Number
|
|
Description
|
|
10.1
|
|
Amended
CB Subscription Agreement dated November 18, 2008
|
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.
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|
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CINTEL
CORP.
|
|
|
|
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Dated:
November 21, 2008
|
By:
|
/s/ Kwang Hee Lee
|
|
|
Kwang
Hee Lee
Chief
Executive Officer
|
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