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): March 1, 2010
CAMELOT
ENTERTAINMENT GROUP INC.
(EXACT
NAME OF REGISTRANT AS SPECIFIED IN CHARTER)
|
Delaware
|
000-3078
|
52-2195605
|
|
(State
or other jurisdiction of incorporation or organization)
|
(Commission
File Number)
|
(IRS
Employee Identification No.)
|
|
8001
Irvine Center Drive Suite 400 Irvine CA
|
92618
|
|
(Address
of principal executive offices)
|
(Zip
Code)
|
|
Registrant’s
telephone number, including area code:
|
(949)
754 3030
|
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 (see General Instruction A.2. below):
oWritten communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
oSoliciting material
pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
ooPre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
oPre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
1
|
ITEM
8.01
|
OTHER
EVENTS
|
On March
1, 2010, the Company’s financing agreement with JMJ Financial (“JMJ”), was
temporarily suspended due to a chill that had been placed on the Company’s
$0.0001 par value common stock by The Depository Trust and Clearing Corporation
(“DTCC”) on or about the week of October 10, 2009. While the chill is
in place, The Depository Trust Company (“DTC”), a subsidiary of DTCC, is not
accepting additional stock deposits into their depository
(“CEDE”). The chill does not affect shares deposited into CEDE prior
to the week of October 10, 2009. As a result of this temporary
suspension by JMJ, the Company is not receiving its regular funding tranche from
JMJ until the chill is lifted. Under the terms and conditions of the
financing agreement between the Company and JMJ, the Company, whose common stock
has been DTC and DWAC eligible since June, 2007, is required to maintain that
eligibility during the financing term. The Company has been working
with DTCC to resolve this issue since October, 2009 and both DTCC and the
Company are diligently working on finding a resolution as soon as
possible. If the Company is unable to resolve this issue with the
DTCC, this event could have a material adverse effect on the
Company.
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.
|
CAMELOT
ENTERTAINMENT GROUP, INC.
|
||
|
Dated:
March 5, 2010
|
By:
|
/s/
Robert P. Atwell
|
|
Robert
P. Atwell
|
||
|
Chairman
|
||
2