Item 8.01 of this report); (ii) waived all breaches,
defaults and/or events of default under the loan documents related to the Notes,
and all penalties, accrued and unpaid interest, charges, fees and costs; and
(iii) cancelled all outstanding Class A common stock purchase warrants and
Class
B common stock purchase warrants issued to the Noteholders in connection with
the Notes. Accordingly, we no longer have any material assets and our
obligations under the Notes (including our obligation to pay the principal,
plus
all accrued interest), the Class A common stock purchase warrants and Class
B
common stock purchase warrants have terminated.
A
copy of
the Agreement was filed as an exhibit to our Current Report on Form 8-K filed
with the SEC on July 2, 2007.
|
ITEM
8.01
|
Other
Events.
|
As
previously disclosed in our Current Report on Form 8-K filed on August 13,
2007,
we amended our articles of incorporation to effect the 500 to 1 reverse split
of
our outstanding shares of common stock by filing a certificate of amendment
to
our articles of incorporation with the Nevada Secretary of State, which became
effective upon filing. As of August 20, 2007, our common stock began trading
on
a split-adjusted basis under a new CUSIP number - 80400W206.
A
copy of
the certificate of amendment to our articles of incorporation filed with the
Nevada Secretary of State is attached as Exhibit 3.1 to this report and is
incorporated herein by reference.
|
ITEM
9.01
|
Financial
Statements and
Exhibits
|
(d)
Exhibits
|
No.
|
Description
|
|
Certificate
of Amendment to Articles of
Incorporation.
|
SIGNATURE
Pursuant
to the requirement of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned there
unto
duly authorized.
|
SATELLITE
SECURITY CORPORATION
|
||
|
Registrant
|
||
|
September
18, 2007
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By:
|
/s/
ZIRK ENGELBRECHT
|
|
Zirk
Engelbrecht, Chief Executive Officer
|
||
|
As
Principal Executive Officer
|
||
|
and
on behalf of Registrant
|