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): September 29, 2011
WILLOW CREEK ENTERPRISES, INC.
(Exact name of registrant as specified in its charter)
Delaware | 000-52970 | 27-3231761 |
(State or other jurisdiction | (Commission File Number) | (IRS Employer |
of Incorporation) |
| Identification Number) |
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| 7251 W. Lake Mead Blvd., Suite 300 Las Vegas, Nevada 89128 |
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| (Address of principal executive offices) |
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| (310) 600-8757 |
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| (Registrant’s Telephone Number) |
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Copy of all Communications to:
Carrillo Huettel, LLP
3033 5th Avenue, Suite 400
San Diego, CA 92103
Telephone: 619.546.6100
Fax: 619.546.6060
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:
. 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 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
. Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Willow Creek Enterprises, Inc.
Form 8-K
Current Report
ITEM 1.01
ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT
On September 29, 2011, Willow Creek Enterprises, Inc., a Delaware corporation (the "Company") issued an unsecured ten percent (10%) Promissory Note (the “Note”) to Duke Holdings Ltd. (“Duke”) in the amount of four thousand seven hundred US dollars ($4,700), to evidence funds loaned by Duke to the Company on September 29, 2011. The Note earns simple interest accruing at ten percent (10%) per annum and is due upon demand ten (10) days written notice by Duke.
The above description of the Note is intended as a summary only and is qualified in its entirety by the terms and conditions set forth therein, and may not contain all information that is of interest to the reader. For further information regarding the terms and conditions of the Note, this reference is made to the Note, which is filed hereto as Exhibit 10.1 and is incorporated herein by this reference.
ITEM 2.03
CREATION OF A DIRECT FINANCIAL OBLIGATION OR AN OBLIGATION UNDER AN OFF-BALANCE SHEET ARRANGEMENT OF A REGISTRANT
The information set forth above in Item 1.01 of this Current Report on Form 8-K is incorporated herein by this reference.
ITEM 9.01
FINANCIAL STATEMENTS AND EXHIBITS
(d) | Exhibits |
Exhibit No. | Description of Exhibit |
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10.1 | Promissory Note to Duke Holdings Ltd. dated September 29, 2011. |
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SIGNATURE
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.
Date: October 4, 2011
Willow Creek Enterprises, Inc.
By: /s/ Terry Fields
Name: Terry Fields
Title: President and Chief Executive Officer
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Exhibit 10.1
UNSECURED PROMISSORY NOTE
PRINCIPAL AMOUNT:
$4,700.00
LOAN DATE:
SEPTEMBER 29, 2011
EXECUTION DATE:
SEPTEMBER 29, 2011
INTEREST RATE:
10.00% SIMPLE INTEREST
BORROWER:
WILLOW CREEK ENTERPRISES, INC.
LENDER:
DUKE HOLDINGS LTD.
DUE DATE:
$4,700.00 ON DEMAND
1.
Principal Repayment. For value received, Willow Creek Enterprises, Inc., a Delaware corporation (the “Borrower”) hereby unconditionally promises to pay to the order of Duke Holdings Ltd., a corporation established under the laws of the country of Belize (the “Lender”), the principal amount of four thousand seven hundred US dollars ($4,700.00), with simple interest accruing at an annual rate of ten percent (10.00%) thereon. The principal amount is due and payable on demand, upon ten (10) days written notice by Lender (the “Due Date”).
2.
Payment Terms. Borrower shall pay the principal and any accrued interest in full on or before Due Date.
3.
Default. Borrower will be in default if any of the following occur:
(a)
Borrower fails to make the Principal Repayment when due;
(b)
Borrower breaks any promise Borrower has made to Lender in this Note or Borrower fails to perform promptly at the time and strictly in the manner provided in this Note;
(c)
Any representation or statement made or furnished to Lender by Borrower or on Borrower's behalf in connection with this Note is false or misleading in any material respect; or,
(d)
A receiver is appointed for any part of Borrower's property, Borrower makes an assignment for the benefit of creditors, or any proceeding is commenced either by Borrower or against Borrower under any Bankruptcy or insolvency laws seeking the liquidation or reorganization of Borrower and such proceeding is not dismissed within sixty (60) days after such filing.
4.
Borrower’s Right to Prepay. Borrower may pay without penalty, all or a portion of the amount owed earlier than it is due. Any prepayment shall be first applied against any accrued and unpaid interest and then to reduce the amount of principal due under this Note.
5.
Waiver of Demand, Presentment, etc. The Borrower hereby expressly waives demand and presentment for payment, notice of nonpayment, protest, notice of protest, notice of dishonor, notice of acceleration or intent to accelerate, bringing of suit and diligence in taking any action to collect amounts called for hereunder and shall be directly and primarily liable for the payment of all sums owing and to be owing hereunder, regardless of and without any notice, diligence, act or omission as or with respect to the collection of any amount called for hereunder.
6.
Payment. Except as otherwise provided for herein, all payments with respect to this Note shall be made in lawful currency of the United States of America by check or wire transfer of immediately available funds, at the option of the Lender, at the principal office of the Lender or such other place or places or designated accounts as may be reasonably specified by the Lender of this Note in a written notice to the Borrower at least one (1) business day prior to payment.
7.
Assignment. The rights and obligations of the Borrower and the Lender of this Note shall be binding upon, and inure to the benefit of, the permitted successors, assigns, heirs, administrators and transferees of the parties hereto.
8.
Waiver and Amendment. Any provision of this Note, including, without limitation, the due date hereof, and the observance of any term hereof, may be amended, waived or modified (either generally or in a particular instance and either retroactively or prospectively) only with the written consent of the Borrower and the Lender.
9.
Notices. Any notice, request or other communication required or permitted hereunder shall be in writing and shall be deemed to have been duly given if personally delivered or mailed by registered or certified mail, postage prepaid, or delivered by facsimile transmission, to the Borrower at the address or facsimile number set forth herein or to the Lender at its address or facsimile number set forth in the records of the Borrower. Any party hereto may by notice so given change its address for future notice hereunder. Notice shall conclusively be deemed to have been given when personally delivered or when deposited in the mail in the manner set forth above and shall be deemed to have been received when delivered or, if notice is given by facsimile transmission, when delivered with confirmation of receipt.
10.
Severability. If one or more provisions of this Note are held to be unenforceable under applicable law, such provisions shall be excluded from this Note, and the balance of this Note shall be interpreted as if such provisions were so excluded and shall be enforceable in accordance with its terms.
11.
Headings. Section headings in this Note are for convenience only, and shall not be used in the construction of this Note.
IN WITNESS WHEREOF, the Borrower has caused this Note to be issued as of the date first above written.
WILLOW CREEK ENTERPRISES, INC.
By: /s/ Terry Fields
Name: Terry Fields
Title: President and Chief Executive Officer
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