- Current report filing (8-K)
01 May 2009 - 6:17AM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 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)
April 26,
2009
USR TECHNOLOGY, INC.
(Exact name of registrant as specified in its charter)
Nevada
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333-139045
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26-1875304
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(State or other jurisdiction of
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(Commission File Number)
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(IRS Employer
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incorporation)
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Identification No.)
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20333 State Highway 249, Suite 200, Houston, Texas
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77070
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(Address of principal executive offices)
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(Zip Code)
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Registrants telephone number, including area code
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(281) 378-8029
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N/A
(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:
[ ] Written communications pursuant to Rule
425 under the Securities Act (17 CFR 230.425)
[ ]
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a -12)
[ ] Pre-commencement communications pursuant
to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d -2(b))
[
] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e -4(c))
FORWARD LOOKING STATEMENTS
This current report contains forward-looking statements as that
term is defined in section 27A of the United States Securities Act of 1933, as
amended, and section 21E of the United States Securities Exchange Act of 1934,
as amended. These statements relate to future events or our future financial
performance. In some cases, you can identify forward-looking statements by
terminology such as "may", "will", "should", "intends", "expects", "plans",
"anticipates", "believes", "estimates", "predicts", "potential", or "continue"
or the negative of these terms or other comparable terminology. These statements
are only predictions and involve known and unknown risks, uncertainties and
other factors, including the risks in the section entitled "Risk Factors" on
page 5 of this current report, which may cause our or our industry's actual
results, levels of activity or performance to be materially different from any
future results, levels of activity or performance expressed or implied by these
forward-looking statements.
Although we believe that the expectations reflected in the
forward-looking statements are reasonable, we cannot guarantee future results,
levels of activity or performance. Except as required by applicable law,
including the securities laws of the United States, we do not intend to update
any of the forward-looking statements to conform these statements to actual
results.
Unless otherwise specified, all dollar amounts are expressed in
United States dollars and all references to "common shares" refer to the common
shares in our capital stock.
F1
As used in this current report and unless otherwise indicated,
the terms "we", "us", "our", Company, and USR mean USR Technology Inc., a
Nevada corporation, unless otherwise indicated.
Item 1.01
Entry into a Material Definitive Agreement
On April 26, 2009, we entered into an agreement and plan of
merger with Ecologic Transportation, Inc., a private Nevada corporation and
Ecological Acquisition Corp., a private Nevada corporation and wholly-owned
subsidiary of our company. Ecological Acquisition Corp. was formed by our
company for the purpose of acquiring all of the outstanding shares of Ecologic
Transportation, Inc. Pursuant to the agreement and plan of merger, Ecologic
Transportation, Inc. is to be merged with and into Ecological Acquisition Corp.,
with Ecologic Transportation, Inc. continuing after the merger as a wholly-owned
subsidiary of our company.
Pursuant to the terms of the agreement and plan of merger we
agreed to issue up to 17,309,486 shares of our common stock to the shareholders
of Ecologic Transportation, Inc. on a basis of one (1) share of our common stock
for each share of Ecologic Transportation, Inc. share held. Closing of the
agreement and plan of merger was subject to, among other things, the following
terms and conditions:
1.
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From the date of the execution of the agreement and plan
of merger, Ecologic Transportation, Inc. must carry out its business in
the ordinary course consistent with past practice and is not permitted
without the consent of our company, to: enter into other agreements,
modify its incorporating documents, declare or pay any dividends, sell or
lease or encumber its assets, issue, deliver or sell any of its shares,
incur any additional indebtedness, grant severance or termination pay to
directors, officers or employees, commence a lawsuit, make any changes in
respect of its taxes, and discharge any liabilities or claims other than
in the ordinary course of business;
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2.
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Ecologic Transportation, Inc. obtaining the requisite
approval of the agreement and plan of merger by its
stockholders;
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3.
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The representations and warranties of Ecologic
Transportation, Inc., Ecological Acquisition Corp. and our company set
forth in the agreement and plan of merger remain true, correct and
complete in all respects as of the closing;
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4.
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All of the covenants and obligations that the respective
parties are required to perform or to comply with pursuant to the
agreement and plan of merger at or prior to the closing must have been
performed and complied with in all material respects;
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5.
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Ecologic Transportation, Inc. and our company having
received duly executed copies of all third party consents and approvals
contemplated by the agreement and plan of merger, if any;
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6.
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Ecologic Transportation, Inc. having delivered to our
company all financial statements required under applicable regulations of
the SEC;
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7.
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Ecologic Transportation, Inc. will have no more than
17,309,486 shares of Ecologic Transportation, Inc.s common stock issued
and outstanding on the closing date.
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8.
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Our company will adopt resolutions appointing nominees of
Ecologic Transportation, Inc. to the board of directors of our
company;
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9.
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Our company will have conducted a two (2) old for one (1)
new reverse stock split of our authorized and issued and outstanding
shares of our common stock.; and
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10.
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Our company will have cancelled an aggregate of 4,000,000
pre-consolidation restricted shares of our common
stock.
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F2
The foregoing description of the agreement and plan of merger
is qualified in its entirety by the contents of the agreement and plan of merger
attached as Exhibit 10.1 to this current report.
Due to conditions precedent to closing, including but not
limited to those set out above, and the risk that these conditions precedent
will not be satisfied, there is no assurance that we will complete the agreement
and plan of merger.
Item 9.01
Financial Statements and Exhibits
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.
USR TECHNOLOGY, INC.
/s/ John
L. Ogden
John L. Ogden
President
Date: April 29, 2009
F3
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