- Current report filing (8-K)
20 Mars 2009 - 9:00PM
Edgar (US Regulatory)
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
March
20, 2009
-------------------------------------------------------
(Date of
Report: Date of earliest event reported)
Cordia Corporation
-------------------------------------------------------------
(Exact
name of registrant as specified in its charter)
Nevada
33-23473 11-2917728
--------------------------------
---------------------------------
----------------------------
(State
or other jurisdiction)
(Commission File
Number) (IRS Employer ID No.)
of
incorporation)
13275
W. Colonial Drive, Winter Garden, Florida 34787
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(Address
of principal executive office)
Registrant's telephone number, including area code:
866-999-9999
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):
/_/
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 14-2(b) under the Exchange Act (17
CFR 240.14d-2(b))
/_/
Pre-commencement
communications pursuant to Rule 13-4(e) under the Exchange Act (17 CFR
240.13e-4(c))
ITEM
1.01
ENTRY
INTO A MATERIAL DEFINITIVE AGREEMENT
FACTORING AND SECURITY AGREEMENT
On
March 16, 2009, Cordia Corporation, (Cordia), a Nevada corporation, through
its subsidiary Cordia Prepaid Corp. (CPC) entered into a Factoring and
Security Agreement with Thermo Credit, LLC (Thermo), a Colorado limited
liability company, in which CPC will offer to sell, transfer, and assign certain
eligible receivables to Thermo in exchange for payment of the net value of the
purchased receivables after deducting applicable LEC and billing fees,
adjustments and reserves.
The
Agreement is for a term of two (2) years and provides for an initial purchase
commitment of up to $1,200,000 of eligible receivables.
The
first purchase of eligible receivables in the amount of approximately $789,000
occurred on March 16, 2009. The net payment received by Cordia was
approximately $600,000 after adjustment which included an initial commitment fee
of 2 % of the initial purchase commitment payable in two equal installments, the
first of which was paid at the time of the first purchase.
THIRD AMENDMENT TO FACTORING AND SECURITY
AGREEMENT
On
March 16, 2009, Cordia Corporation, (Cordia), a Nevada corporation, entered
into an Amendment to Factoring and Security Agreement (Amendment) with Thermo
Credit, LLC (Thermo), a Colorado limited liability company, amending the
original agreement between the parties dated September 21, 2007. The
Amendment changes the termination date of the agreement from September 14, 2010
to March 16, 2011. The purpose of the Amendment was to make the Factoring
Agreement between Thermo and CPC coterminous with this Amendment. With the
execution of this Amendment Cordia paid to Thermo a purchase commitment fee
equal to 0.375 of the purchase commitment which is $20,625. The remaining
terms, provisions and conditions of the original agreement remain unchanged and
in full force and effect.
The
information included in this Form 8-K is not to be incorporated into Cordias
other SEC filings.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.
(d)
Exhibits. The following exhibit is being furnished as part of this
Report.
Exhibit
No.
Title of Document
99.1
Factoring
and Security Agreement dated March 16, 2009
99.2
Amendment to Factoring and Security Agreement dated March 16, 2009
SIGNATURES
Pursuant to the
requirements of the Securities Exchange Act of 1934, as amended, the Registrant
has duly caused this report to be signed on its behalf by the undersigned
hereunder duly authorized.
Cordia
Corporation
By:
/s/ Kevin Griffo
Date:
March 20, 2009
Kevin
Griffo, Chief Executive Officer,
Duly
Authorized Officer
Cordia (CE) (USOTC:CORG)
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