8K filed - company director resigning...
share price getting hit - questions and red flags are rising - risk of holding is jumping up. Need to clarify future status on Pinks and maybe a good PR on earnings can lead to recovery - other than that - continued weakness. What a turn - bummer. Was hoping they would actually try for the Amex or Naz.
ITEM 5.02 DEPARTURE OF DIRECTORS OR PRINCIPAL OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF PRINCIPAL OFFICERS.
On November 20, 2006, Haruo Miyano resigned his position as a director of the Company. One of Mr. Miyano’s primary objectives as a director of the Company, among others, was to assist the Company in obtaining financing through its status as a reporting company. It had become apparent to the Company as well as Mr. Miyano that it was not in the best interests of the Company to pursue such financing opportunities.
A letter from Mr. Miyano to the Company agreeing with this reason for his resignation is attached to this current report on Form 8-K as Exhibit 99.1.
ITEM 8.01 OTHER EVENTS
On November 20, 2006, the Board of Directors voted to approve a press release announcing its intent to deregister the Company’s common stock and suspend its reporting obligations under the Securities Exchange Act of 1934, as amended (the “Exchange Act”) on or about December 22, 2006. As a result of deregistering its common stock and suspending its reporting obligations the Company’s common stock will no longer be eligible for trading on the Over-the-Counter Bulletin Board.
A copy of the related press release is attached to this current report on Form 8-K as Exhibit 99.2.
ITEM 8.01 OTHER EVENTS
Effective immediately, the Company’s address of record in the United States has been changed to:
c/o Toshiki Hara
10 Campanero East
Irvine, CA 92620
Tel. 714-878-9189
The information included in this Current Report on Form 8-K, including the exhibits hereto, shall not be deemed “filed” for purposes of, nor shall it be deemed incorporated by reference in, any filing under the Securities Act of 1933 or the Securities Exchange Act of 1934, except as expressly set forth by specific reference in such a filing.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
(d) Exhibits. The following material is filed as an exhibit to this Current Report on Form 8-K:
Exhibit
Number
99.1 Letter from Haruo Miyano to Pachinko World dated November 20, 2006
99.2 Press Release issued November 22, 2006
