Business Context and Reporting Period
Company: Emazing Interactive, Inc. (Note: Metadata listed "ZW Data Action Technologies Inc." but the filing text identifies Emazing Interactive, Inc.)
Filing Type: Form 8-K (Current Report)
Date of Report: March 10, 2008
Reporting Period: Event date March 10, 2008; Signed March 11, 2008.
Status: The registrant is identified as a shell company.
Key Financial Metrics
This filing does not provide revenue, profit, cash flow, margin, or general liquidity data. The only financial metric disclosed relates to a specific credit facility:
- Line of Credit Limit: Increased from $20,000 to $40,000.
- Collateral: 100% of the common stock owned by the President.
- Maturity Date: Extended to May 31, 2008.
Material Changes
The primary material change is the amendment to the Company's Line of Credit on March 10, 2008. The available credit limit was doubled from $20,000 to $40,000. Additionally, the maturity date was extended from the original due date of February 9, 2008, to May 31, 2008. To secure this increase, the President pledged all of his personal common stock holdings in the Company as collateral.
Guidance, Outlook, and Risks
The filing contains no forward-looking guidance, management commentary on future operations, or specific risk factors beyond the implications of the credit amendment. The extension of the credit line suggests a need for short-term liquidity management. The requirement for the President to collateralize the line with 100% of his personal holdings indicates a significant concentration of risk and potential control issues for the Company.
Investor Verification Checklist
- Verify the current outstanding balance on the $40,000 line of credit.
- Confirm the total number of shares owned by the President to assess the extent of the collateral pledge.
- Review the Company's cash position to determine the necessity of the credit extension.
- Check for any subsequent filings regarding the repayment or further amendment of this credit line.