SUTU...Form 8-k filed 12/17
17-Dec-2007
Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligatio
Item 1.01. Entry into a Material Definitive Agreement
To the extent required by Item 1.01 of Form 8-K, the information contained in or incorporated by reference into Item 8.01 of this Current Report is hereby incorporated by reference into this Item 1.01.
Item 2.03. Creation of a Direct Financial Obligation or an Obligation under
an Off-Balance Sheet Arrangement of a Registrant To the extent required by Item 2.03 of Form 8-K, the information contained in or incorporated by reference into Item 8.01 of this Current Report is hereby incorporated by reference into this Item 2.03.
Item 8.01. Other Events
On December 12, 2007, the Registrant issued an unsecured Promissory Note in the principal amount of $100,000 (the "Note") to Pandora Select Partners, L.P., a British Virgin Islands limited partnership, an affiliate of Whitebox Advisors,
LLC. The form of the Note is filed as an exhibit to this Current Report and, upon such filing, is hereby incorporated by reference into this Item 8.01. The principal balance hereof shall bear a one-time interest charge of Two Thousand Dollars ($2000) (the "Interest Charge"). The principal and Interest Charge is due and payable on or before January 13, 2008. Registrant may prepay this Note at any time in its sole and absolute discretion; provided that the Interest Charge shall remain due and payable in full regardless of any such prepayment. Registrant has entered into prior debt and equity financings with affiliates of Whitebox Advisors, LLC (the "Prior Whitebox Financings") as disclosed by Registrant in its reports filed with the SEC under the Exchange Act.
Section 9 - Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits.
(a) Financial statements of business acquired.
Not applicable
(b) Pro forma financial information.
Not applicable
Exhibit Index
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