Qrs Music Technologies Inc (Other) (8-K)
27 September 2007 - 6:13AM
Edgar (US Regulatory)
SECURITIES AND EXCHANGE
COMMISSION
Washington,
D. 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):
September 21, 2007
QRS Music Technologies, Inc.
(Exact Name of
Registrant as Specified in its Charter)
Delaware
|
|
0-31955
|
|
36-3683315
|
(State or Other
Jurisdiction
|
|
(Commission
|
|
(IRS Employer
|
of Incorporation)
|
|
File Number)
|
|
Identification
Number)
|
2011 Seward Avenue, Naples,
Florida 34109
(Address of
Principal Executive Offices)
(239)
597-5888
(Registrants Telephone Number, Including Area Code)
(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:
o
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
o
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
QRS Music
Technologies, Inc.
Form 8-K
Item 1.01 Entry into a
Material Definitive Agreement
On September 21, 2007,
QRS Music Technologies (QRS) and Samick Musical Instruments Co., Ltd, a
Korean corporation (SMK) entered into a Manufacturing and Supply Agreement
(the Agreement) with respect to the manufacturing of exclusive pianos,
products and parts. Under the agreement, SMK will manufacture for and supply to
QRS specified pianos, products and parts from any of the SMK facilities. SMK will manufacture and supply for QRS, a
specified amount of product for sale and distribution by QRS. This product will remain with QRS, on
consignment, until such time as the product is sold, and title passes to the
purchaser. Such product will be paid for
6 months after the sale of the product, and will be guaranteed by a letter of
credit.
SMK also granted QRS
exclusive distribution rights of any SMK product incorporating a specific grand
piano scale.
The Agreement commences
on September 21, 2007, and will extend for a period of seven years, with an
automatic five year extension, unless either party notifies the other in
writing prior to the expiration that they wish to cancel the contract. Both parties anticipate the first products to
arrive in the United States sometime after January, 1, 2008.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
99.1 Contract Manufacturer/Distributor
Agreement dated September 21, 2007 between QRS Music Technologies and Samick
Music Korea.
2
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: 9/26/07
|
|
QRS MUSIC TECHNOLOGIES, INC.
|
|
|
|
|
|
/s/ Tom Dolan
|
|
|
Title: Chief Executive Officer
|
|
|
|
|
|
/s/ Ann Jones
|
|
|
Title: Chief Financial Officer
|
3
QRS Music Technologies (CE) (USOTC:QRSM)
Historical Stock Chart
From Jun 2024 to Jul 2024
QRS Music Technologies (CE) (USOTC:QRSM)
Historical Stock Chart
From Jul 2023 to Jul 2024
Real-Time news about QRS Music Technologies Inc (CE) (OTCMarkets): 0 recent articles
More Qrs Music Technologies Inc News Articles