-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, UDTQBX8mPT0XWppeOHWEY7wiyf+fNfJpzkPcLm4b/6dvfh5InHkW+ZMxb/p5wTX6 yQFit6qlxMYJy4pN55SbVg== 0000950153-08-000239.txt : 20080211 0000950153-08-000239.hdr.sgml : 20080211 20080211151222 ACCESSION NUMBER: 0000950153-08-000239 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20080206 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Unregistered Sales of Equity Securities FILED AS OF DATE: 20080211 DATE AS OF CHANGE: 20080211 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CIRCUIT RESEARCH LABS INC CENTRAL INDEX KEY: 0000725897 STANDARD INDUSTRIAL CLASSIFICATION: RADIO & TV BROADCASTING & COMMUNICATIONS EQUIPMENT [3663] IRS NUMBER: 860344671 STATE OF INCORPORATION: AZ FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-11353 FILM NUMBER: 08593061 BUSINESS ADDRESS: STREET 1: 7970 S KYRENE ROAD CITY: TEMPE STATE: AZ ZIP: 85284 BUSINESS PHONE: 4804038300 MAIL ADDRESS: STREET 1: 7970 S KYRENE ROAD CITY: TEMPE STATE: AZ ZIP: 85284 8-K 1 p74970e8vk.htm 8-K e8vk
 

 
 
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): February 6, 2008
 
CIRCUIT RESEARCH LABS, INC.
(Exact name of registrant as specified in its charter)
         
Arizona   1-11353   86-0344671
(State or other jurisdiction
of incorporation) 		  (Commission
File Number) 		  (IRS Employer
Identification No.)
7970 South Kyrene Road
Tempe, Arizona, 85284
(Address of Principal Executive Offices)
(Zip Code)
Registrant’s telephone number, including area code: (480) 403-8300
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):
o   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
o   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
o   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
o   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 

 

 

Item 1.01 Entry into a Material Definitive Agreement
     On February 5, 2008 Circuit Research Labs, Inc. (“CRL” or the “Company”), the parent company of CRL Systems, Inc. (dba Orban), entered into a Conversion Agreement (the “Agreement”) with Jayson Russell Brentlinger (“Brentlinger”). Pursuant to the Agreement, Brentlinger agreed to extinguish certain promissory notes issued to him by CRL in the aggregate amount, including principal and unpaid interest, of $2,042,840. In exchange, CRL will issue to Brentlinger 20,428.4 shares of convertible redeemable Series A Preferred Stock (the “Preferred Stock), at the rate of one preferred share per $100 of CRL indebtedness.
     Under the Agreement, CRL will pay cumulative dividends on the Preferred Stock at an annual rate of 7% based upon the $100 par value. Each share of the Preferred Stock can be converted to 300 shares of CRL Common Stock (“Common Stock”) at any time. CRL may redeem any or all of the Preferred Stock at any time for their par value plus any dividends accrued but unpaid, provided Brentlinger is given between 15 and 60 days notice. However, notice of redemption does not prevent Brentlinger from exercising his right to convert to Common Stock. The Preferred Stock has no voting rights.
Item 3.02 Unregistered Sales of Equity Securities
     The information included under Item 1.01 above is incorporated into this Item 3.02 by reference.

 

 

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.
         
  CIRCUIT RESEARCH LABS, INC.
 		  
Date: February 7, 2007  By:   /s/ Rebecca Nation    
  Name:   Rebecca Nation    
  Title:   CFO   
 

 

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