Business Context and Reporting Period
This Form 8-K was filed by Trey Resources, Inc. on November 10, 2009. The report details a material definitive agreement entered into on the same date between the Company and YA Global Investments, L.P. regarding the extension of existing debt instruments.
Key Financial Metrics
The filing does not provide revenue, profit, cash flow, or margin data. The primary financial metric disclosed relates to the Company's debt obligations:
- Secured Convertible Debentures: The agreement covers three specific debentures with the following original principal amounts:
- First Debenture (dated Dec 30, 2005): $1,159,047
- Second Debenture (dated Dec 30, 2005): $600,000
- Third Debenture (dated May 5, 2006): $600,000
- Total Principal Amount: $2,359,047
Material Changes
The material change reported is the extension of the maturity dates for the three Secured Convertible Debentures. Pursuant to the Amendment Agreement, the expiration dates for all three instruments were extended to December 30, 2010.
Guidance, Outlook, and Risks
The filing contains no management commentary, financial guidance, or outlook for future periods. No specific risks or contingencies are detailed beyond the existence of the amended debt agreements. The filing serves strictly to disclose the entry into the Amendment Agreement.
Investor Verification Checklist
- Verify the total outstanding principal balance of the three debentures, as the filing only lists original amounts.
- Confirm the interest rates and conversion terms applicable to the extended debentures.
- Review the full text of the Amendment Agreement (Exhibit 10.1) for any new covenants or conditions attached to the extension.
- Check for any accrued interest or penalties that may have been capitalized or settled as part of this agreement.