Form 8-K for SEAMLESS WI-FI, INC.
11-Jun-2007
Entry into a Material Definitive Agreement, Completion of Acquisition or Dis
ITEM 1.01 - ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT
On June 7, 2007, Seamless Wi-Fi, Inc. (the "Company") entered into a Loan Satisfaction Agreement (the "Agreement") with Ayuda Funding Corp., a Nevada corporation ("Ayuda"). The Agreement provides that the Company transfer will transfer 1,000,000 shares of common stock of 1st Global Financial Corporation, a Nevada corporation, and 500,000 shares of common stock of DLR Funding, Inc., a Nevada corporation (collectively, the "Valuable Assets"), to Ayuda as payment in full of the three previous loan agreements with Ayuda (collectively, the "Loan") with a current balance of $4,904,508.03. The Agreement provides that upon transfer of the Valuable Assets from the Company to Ayuda, the Loan shall be immediately deemed satisfied in full.
There is no material relationship between the Company or its affiliates and any of the parties, other than with respect to this Agreement.
ITEM 2.01 COMPLETION OF ACQUISITION OR DISPOSITION OF ASSETS.
On June 7, 2007, Seamless Wi-Fi, Inc. (the "Company") disposed of and transferred 1,000,000 shares of common stock of 1st Global Financial Corporation, a Nevada corporation, and 500,000 shares of common stock of DLR Funding, Inc., a Nevada corporation (collectively, the "Valuable Assets"), held by the Company to Ayuda Funding Corp., a Nevada corporation ("Ayuda") pursuant to the Loan Satisfaction Agreement dated June 7, 2007. The Valuable Assets were transferred to Ayuda as payment in full of the three previous loan agreements with a total balance of $4,904,508.03.
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