-----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, ViZJ0cmwTKBGyLP7BhpbKQdJ8pap5ESV2Gihgt7I72MloJj8xXqz0xiVbL/CAkx1 citNCa2TvNIXBdwl9oIaUA== 0001078782-10-002608.txt : 20101115 0001078782-10-002608.hdr.sgml : 20101115 20101115151428 ACCESSION NUMBER: 0001078782-10-002608 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20101115 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20101115 DATE AS OF CHANGE: 20101115 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ABSOLUTE LIFE SOLUTIONS, INC. CENTRAL INDEX KEY: 0001421538 STANDARD INDUSTRIAL CLASSIFICATION: MISCELLANEOUS METAL ORES [1090] IRS NUMBER: 711013330 STATE OF INCORPORATION: NV FISCAL YEAR END: 0831 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-53446 FILM NUMBER: 101191780 BUSINESS ADDRESS: STREET 1: 45 BROADWAY STREET 2: 6TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10006 BUSINESS PHONE: (212) 201-4070 MAIL ADDRESS: STREET 1: 45 BROADWAY STREET 2: 6TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10006 FORMER COMPANY: FORMER CONFORMED NAME: SHIMMER GOLD, INC. DATE OF NAME CHANGE: 20071218 8-K 1 absolute8k111510.htm FORM 8-K CURRENT REPORT 8-K


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): November 15, 2010


______________


ABSOLUTE LIFE SOLUTIONS, INC.

(Exact name of registrant as specified in its charter)


______________

 

 

 

 

 

 

Nevada

000-53446

71-1013330

(State or other jurisdiction

of incorporation)

(Commission

File Number)

(I.R.S. Employer

Identification No.)


45 Broadway, 6th Floor

New York, New York 10006

(Address of principal executive offices) (Zip Code)


(212) 201 4070

Registrant’s telephone number, including area code


———————


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 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))




Item 8.01.  Other Events

 

On November 15, 2010 Absolute Life Solutions, Inc. (“we”) issued a press release announcing the initial close of $25.8 Million of a $60 Million Capital Raise .  The press release is furnished as an exhibit and is posted on our website (www.absolutels.com).

 

The information in this Form 8-K under Item 8.01 and Exhibit 99.1 attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, except as expressly set forth by specific referencing in such filing.

 

Item 9.01.  Financial Statements and Exhibits

 

(d) Exhibits.

 

Exhibit

Number

 

    Description

99.1

Press release dated November 15, 2010.

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

November 15, 2010

 

 

Absolute Life Solutions, Inc.

 

By: /s/ Avrohom Oratz                                 

Avrohom Oratz

Principal Financial Officer

 

 


 

EXHIBIT INDEX

 

Number

Description

Page

99.1

Press release dated November 15, 2010

3




2


 EX-99 2 absolute8k111510ex991.htm EX-99.1 PRESS RELEASE Exhibit 99.1

Exhibit 99.1

Absolute Life Solutions Closes on Initial $25.8 Million of $60 Million Capital Raise


Company Cites Growing Interest in Life Settlements Business from Institutional Investors as Basis for Deal Momentum


NEW YORK, Nov. 15, 2010 /PRNewswire-FirstCall/ -- Absolute Life Solutions, Inc. (OTC Bulletin Board:ALSO.ob - News), a financial services firm focused on the creation of cash liquidity for seniors and as well as insurance-industry focused investors, today confirmed that the company has closed on an initial $25.8 million portion of its previously disclosed $60 million capital raise.   


The offering is a private placement to institutional and sophisticated investors of the Company's Series A 12.5% Convertible Preferred Stock with 2 attached warrants.


"There has been a marked increase in interest surrounding the life settlements business and today's announcement continues to validate our belief that our industry is poised for significant growth.  Institutional investors are beginning to comprehend the new dynamics of our business which we believe has created a level enthusiasm and interest in our strategic plans.  We expect that the momentum we are currently experiencing in our capital raising activities will carry us through to its completion in the very near future," commented Moshe Oratz, Chief Executive Officer of Absolute Life Solutions, Inc.  "There is a new era emerging in our business whereby prudent analysis and diversified policy holdings will help to create an asset class that brings long term value to shareholders.  With our industry expertise, proprietary data analysis capabilities, and thorough understanding of the emerging demographics of our business, we believe we are uniquely positioned to compete and succeed in this market," Oratz concluded.


About Life Settlement Transactions:


A life settlement transaction typically occurs when an individual of advanced aged no longer wishes to pay, or is unable to afford, a rising premium payment on their life insurance policies.  When faced with the difficult choice of expending diminishing cash resources to make premium payments or simply allowing their policy lapse, the insured senior now has the opportunity to sell the policy for an immediate cash payment.  Current life settlement transactions are allowing the individual to receive an average of 8 times the surrender value for an asset that was previous illiquid and that they may have had to abandon.  More and more seniors are becoming aware of the potential of these transactions creating a growing supply of policies available for purchase by organization such as Absolute Life Solutions, Inc.  


About Absolute Life Solutions, Inc.:


Absolute Life Solutions, Inc. offers a distinctive approach that provides liquidity to seniors while creating a stable alternative asset class for investors.  By securing only high-quality policies and employing a proprietary valuation platform and best-in-class portfolio and management techniques, Absolute seeks to optimize an insurance policy's inherent value and minimize risk.  For more information about Absolute Life Solutions, Inc., please visit our website at www.absolutels.com  




Forward Looking Statements


Some statements in this release may be "forward-looking statements" for the purposes of the Private Securities Litigation Reform Act of 1995. In some cases forward-looking statements can be identified by words such as "believe," "expect," "anticipate," "plan," "potential," "continue" or similar expressions. Such forward-looking statements include risks and uncertainties, and there are important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors, risks and uncertainties are discussed in our public filings with the Securities and Exchange Commission.  Readers are urged to carefully review and consider the various disclosures made by us in the our reports filed with the Securities and Exchange Commission, which attempt to advise interested parties of the risks and factors that may affect our business, financial condition, results of operation and cash flows. If one or more of these risks or uncertainties materialize, or if the underlying assumptions prove incorrect, our actual results may vary materially from those expected or projected. We undertake no obligation to update these forward looking statements.


Contacts:

 

 

Moshe Oratz

Gabriel Berger

 

Absolute Life Solutions, Inc.

Triumph Corporate Communications

 

Chief Executive Officer

Investor Relations

 

(212) 401-4070

(917) 753-0169

 

info@absolutels.com

investorrelations@absolutels.com

 

 

 

 




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