Item 1.01(a) is incorporated herein by
reference.
Item
3.02 Unregistered Sales of Equity Securities.
The
disclosures contained in Item 1.01 are incorporated herein by
reference.
Item
7.01 Regulation FD Disclosure.
a) The
Company announced that it is in discussions with Tap It, Inc. (“Tap It”), a
Delaware corporation, with respect to a potential acquisition of Tap It by
the
Company. To date, discussions have been exploratory in nature only,
and no binding agreement has been entered into with respect to the potential
acquisition. Therefore, there can be no assurance that this
acquisition will be consummated. The Company will continue to
consider the best interests of its shareholders in continuing to explore
this
opportunity.
Tap
It is
a privately-owned, Atlanta-based interactive media company that equips radio
stations with patent-pending technology and processes for their own interactive
entertainment site. These “ready-to-launch” sites provide means for radio
stations to remain relevant and competitive in the digital entertainment
era and
provide a resource for generating non-traditional revenue. With just
a few keystrokes, Tap It arms radio stations with a fully-functioning online
entertainment site which can supplement on-air broadcasts.
On
October 22, 2007, the Company issued a press release regarding the potential
acquisition of Tap It, which is attached hereto as Exhibit 99.1 and is
incorporated herein by reference.
b) Winsonic
Diversity, LLC (“Winsonic Diversity”), which is 49% owned by the Company,
announced that it is in preliminary negotiations with Colonel McCrary Trucking,
LLC (“Colonel McCrary”), a Georgia limited liability company, regarding the
acquisition of Colonel McCrary by Winsonic McCrary, LLC, a newly-created
Georgia
limited liability company and wholly-owned subsidiary of Winsonic
Diversity. Winsonic Diversity and Colonel McCrary are currently in
the process of negotiating a definitive asset purchase
agreement. However, there can be no assurance when or if a definitive
agreement will be entered into nor can there be any assurance that this
acquisition will be consummated. Winsonic Diversity will continue to
consider the best interests of its shareholders in continuing to explore
this
opportunity.
Colonel
McCrary is a privately-owned, Atlanta-based dirt and gravel hauling company
that
also manufactures and supplies crushed stone to construction
sites. Colonel McCrary’s provides hauling services through teaming
with small dump truck companies. Colonel McCrary brings together a
team with technology and management to deliver a complete support program
to
small trucking companies and its customers.
On
October 22, 2007, the Company issued a press release regarding the potential
acquisition of Colonel McCrary by Winsonic Diversity, which is attached hereto
as Exhibit 99.2 and is incorporated herein by reference.
Item
9.01 Financial Statements and Exhibits.
(d)
Exhibits
| 4.1 | 6% Convertible Subordinated Promissory Note dated October 12, 2007 |
|
4.2
|
Warrant
to purchase shares of the Company’s Common Stock dated October 12,
2007
|
| 10.1 | Settlement Agreement and Mutual Release dated October 5, 2007, by and between Company and Nana Yalley |
| 10.2 | Consent Order dated October 4, 2007, by and between Company and Crowne Office Suites, Inc. |
| 99.1 | Press Release dated October 22, 2007 |
| 99.2 | Press Release dated October 22, 2007 |
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant
has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
| Date: October 22, 2007 | |||
| WINSONIC DIGITAL MEDIA GROUP, LTD. | |||
| By: /s/ Winston Johnson | |||
| Winston Johnson | |||
| Chairman of the Board and CEO |