matech8k102108.htm
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
DC 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) October 22,
2008
|
|
Matech
Corp.
(Exact
name of registrant as specified in its chapter)
|
|
Delaware
(State
or other jurisdiction
of
incorporation
|
33-23617
(Commission
File
Number)
|
95-4622822
(IRS
Employer
Identification
No.)
|
11661 San Vicente
Boulevard, Suite 707
Los Angeles, California
(Address
of principal executive offices)
|
90049
(Zip
Code)
|
(310)
208-5589
Registrant's
telephone number, including area code
|
|
N/A
(Former
name or former address, if changed since last
report)
|
Section
1 - Registrant’s Business and Operations
Item
1.01 Entry into a Material Definitive Agreement.
On
October 9, 2008, Matech Corp. (the “Company”) agreed to a settlement with GEM
Advisors, Inc. (“GEM”) on the record of the court (the
“Settlement”). The Settlement provides that, in exchange for GEM’s
agreement to dismiss its lawsuit against the Company and our Chief Executive
Officer Robert M. Bernstein, the Company shall pay GEM the total sum of $250,000
as follows: (1) the Company shall pay GEM $15,000 by November 30, 2008; (2) each
month thereafter, the Company shall pay GEM $5,000 no later than the last day of
the month; and (3) the Company shall pay GEM a percentage of any net funds
received by the Company for any equity or debt instrument sold, including any
funds received from Robert M. Bernstein from the sale of his stock, to reduce
the $250,000 Settlement amount, as follows: (i) 5% up to the first $2,000,000
received, (ii) 4% for amounts received between $2,000,001 to $4,000,000, and
(iii) 3% of all amount received over $4,000,000.
There is
no material relationship between the Company or its affiliates and any of the
parties, other than with respect to the Settlement.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Company has duly
caused this report to be signed on its behalf by the undersigned thereunto duly
authorized.
Dated:
October 21, 2008 |
MATECH
CORP.,
a
Delaware corporation
|
|
|
|
|
|
|
|
|
/s/
Robert M. Bernstein |
|
|
By: Robert
M. Bernstein |
|
|
Its: Chief
Executive Officer |
|