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): June 28, 2007 (January 24,
2007)
CLEAR
CHOICE FINANCIAL, INC.
(Exact
Name of Registrant as Specified in its Charter)
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Nevada
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000-52071
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33-1080880
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(State
or Other
Jurisdiction
of Incorporation)
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(Commission
File Number)
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(IRS
Employer Identification No.)
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7373
E. Doubletree Ranch Rd., Suite 200, Scottsdale, AZ 85258
(Address
of principal executive offices) (Zip Code)
Registrant’s
Telephone Number, Including Area Code: (480) 820-9766
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):
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Written
communications pursuant to Rule 425 under the Securities Act (17
CFR
230.425)
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o
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Soliciting
material pursuant to Rule 14a- 12 under the Exchange Act (17 CFR
240.14a-
12)
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR
240.14d-2(b))
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR
240.13e-4(c))
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Item
1.01 Entry into a Material Definitive Agreement
On
January 24, 2007, Clear Choice Financial, Inc. (the "Company") entered into
an
Advisory Agreement with Objective Equity LLC. Under this Agreement, Objective
Equity will provide general corporate finance, advisory, mergers and
acquisitions and business development consulting services to the Company for
twenty-four months. Compensation to Objective Equity will vary depending on
the
services provided, with a like-kind commission paid on any mergers and
acquisitions of 5% of the first $4 million in value of the transaction, 4%
of
the second $4 million in value, 3% of the third $4 million in value, 2% of
the
fourth $4 million in value and 1% of any value in excess of $16 million. Upon
the closing of a merger or acquisition with a value in excess of $5 million,
a
$100,000 cash bonus is also payable. For corporate advisory and financial
placement services, the Company has agreed to issue 500,000 restricted shares
of
its common stock and pay a $5,000 per month fee once $2 million in new funding
has been raised. The Company has also agreed to pay a cash placement fee of
8%
of the total purchase price of the Company's securities sold as a result of
Objective Equity's efforts and has agreed to issue warrants equal to 8% of
the
funds raised with an exercise price equal to the lowest price at which the
equity was sold to investors. The Company and Objective Equity have agreed
to
individually negotiate compensation for business development services.
Item
9.01 Financial Statements and Exhibits
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99.1
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Advisory
Agreement between Clear Choice Financial, Inc. and Objective Equity
LLC,
dated January 24, 2007
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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.
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| Date:
June 28, 2007 |
CLEAR
CHOICE FINANCIAL, INC.
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By: |
/s/ Michael Schifsky |
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Michael
Schifsky
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Chief
Financial Officer
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