Itoco Inc. (ITMC)

[scottmba]

8-K
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): February 24, 2010

Globotek Holdings, Inc.
(Exact Name of Registrant as Specified in Charter)


Nevada 333-151840 45-0557179
(State or other jurisdiction of incorporation) (Commission File Number) (IRS Employer Identification No.)




25 Jenna Lane
Staten Island, New York 10304
(Address of principal executive offices) (Zip Code)



Registrant’s telephone number, including area code:
[phone]




(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:

oWritten communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)


oSoliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)


oPre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))


oPre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))




1





Item 1.01. Entry Into a Material Definitive Agreement.

On February 24, 2010, Globotek Holdings, Inc. (the “Company”) entered into a license agreement with Energy Network Limited (IOM) (“Energy Network”), pursuant to which the Company granted Energy Network a license to sell the Globotek APG System in Nigeria (the “License Agreement”). The Company shall receive royalty payments equal to 10% of net sales under the License Agreement. The License Agreement is for a term of 10 years.


Item 9.01. Financial Statements and Exhibits.


(d) Exhibits.

10.1 License Agreement