0001013762-11-003094.txt : 20111117 0001013762-11-003094.hdr.sgml : 20111117 20111116185330 ACCESSION NUMBER: 0001013762-11-003094 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20111115 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20111117 DATE AS OF CHANGE: 20111116 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Forex International Trading Corp. CENTRAL INDEX KEY: 0001471781 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-PREPACKAGED SOFTWARE [7372] IRS NUMBER: 270603137 STATE OF INCORPORATION: NV FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-54530 FILM NUMBER: 111211183 BUSINESS ADDRESS: STREET 1: 49 FRONT STREET STREET 2: #206 CITY: ROCKVILLE CENTRE STATE: NY ZIP: 11570 BUSINESS PHONE: 888-333-8075 MAIL ADDRESS: STREET 1: 49 FRONT STREET STREET 2: #206 CITY: ROCKVILLE CENTRE STATE: NY ZIP: 11570 8-K 1 form8k.htm FOREX INTERNATIONAL TRADING CORP. FORM 8-K form8k.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 and Exchange Act of 1934

Date of Report (Date of earliest event reported):  November 15, 2011

Commission File Number 000-54530 
 
FOREX INTERNATIONAL TRADING CORP.
(Exact name of small business issuer as specified in its charter)
 
Nevada 
27-0603137
(State or other jurisdiction of incorporation or organization) 
(I.R.S. Employer Identification No.)
 
Moria 30 Avenue, Haifa, Israel 34572
(Address of principal executive offices)
 
888-333-8075
(Issuer’s telephone number)

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 Instructions 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))
 
 
 
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Item 5.02               Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangement s of Certain Officers

On November 15, 2011, Liat Franco was appointed by Forex International Trading Corp. (the “Company”) to serve as the Chief Executive Officer, Chief Financial Officer, Secretary, Treasurer and a director of the Company.  As  management of Triple 8 Ltd. (“Triple”), which the Company owns approximately 49.90 %, has refused to provide the financial statements for Triple resulting in an increased adversarial relationship, the Board of Directors elected to appoint Ms. Franco, who is an attorney licensed in the United States and Israel, as an executive officer and director to handle this matter.  Further, on November 15, 2011, Darren Dunckel resigned as an executive officer and director of the Company and William Glass and Stewart Reich also resigned as directors.

There is no understanding or arrangement between Ms. Franco and any other person pursuant to which she was appointed as an executive officer and director.  Ms. Franco does not have any family relationship with any director, executive officer or person nominated or chosen by us to become a director or an executive officer.  Ms. Franco has not had direct or indirect material interest in any transaction or proposed transaction, in which the Company was or is a proposed participant exceeding $120,000.

Mrs. Franco graduated with a B.A. Magna Cum Laude from the University of California at Los Angeles and holds a J.D. from the UCLA School of Law in California where she specialized in corporate law, which she received in 2003.  Prior to joining the Company, Mrs. Franco served as a Security Officer for foreign consulate in Beverly Hills, California, and held various positions in several academic institutions from 2003 until 2009.  From 2009 to the present Mrs. Franco has served as a lecturer on contract law and evidence law at foreign college.  Ms. Franco is licensed as an attorney in the State of California, the state of New York and in Israel.

Item 9.01               Financial Statements and Exhibits
 
Exhibit No.            Description
 
99.1 Press Release dated November 16, 2011
 

                                
 
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SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
 
    FOREX INTERNATIONAL TRADING CORP.  
         
 
 
By:
/s/ Liat Franco  
      Name: Liat Franco  
      Title: CEO, President, CFO, Secretary,  
      Treasurer and Director  
         
Date: November 16, 2011      
  Haifa, Israel      
 
 
 
 
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EX-99.1 2 ex991.htm EXHIBIT 99.1 ex991.htm
Exhibit 99.1



 
Forex International Trading Corp. Announces Change in Management and Board
 
Haifa- Israel, November 16, 2011 (BUSINESS WIRE) - Forex International Trading Corp. (the "Company") (OTCBB: FXIT), announces a change in management and board.
 
On November 15, 2011, Liat Franco was appointed to serve as the Chief Executive Officer, Chief Financial Officer, Secretary, Treasurer and a director of the Company. As a result of the refusal of management of Triple 8 Ltd. (“Asset” or “Triple”), which the Company owns approximately 49.90%, to provide financial statements for Triple, the Board of Directors elected to appoint Mrs. Franco, who is an attorney licensed in the United States and Israel, as an executive officer and director to handle this matter.
 
Mrs. Franco graduated with a B.A. Magna Cum Laude from the University of California at Los Angeles and holds a J.D. from the UCLA School of Law in California where she specialized in corporate law, which she received in 2003.  Prior to joining the Company, Mrs. Franco served as a Security Officer for foreign consulate in Beverly Hills, California, from 2003 until 2009.  From 2009 to the present Mrs. Franco has served as a lecturer on contract law and evidence law at foreign college.  Mrs. Franco is licensed as an attorney in the State of California, the State of New York and in the State of Israel.
 
Furthermore, on November 15, 2011, Darren Dunckel resigned as an executive officer and director of the Company and both William Glass and Stewart Reich also resigned as directors.
 
Mrs. Franco stated: “I appreciate the trust and I will do anything in my power to pursue the Company’s interests. I strongly believe that my legal expertise in both jurisdictions (Israel where Asset’s operating subsidiary operates, and the USA) will assist to retrieve the confidence between the Company and Asset. I will devote all my knowledge and contacts to resolve the issues as soon as possible and bring to the Company’s shareholders the optimal economic value. I also intend to address all the aspect of the Company’s interests including trying to resolve the outstanding Notes in default that the Company issued as part of Asset’s acquisition. After evaluating the Company’s position, I will update the shareholders about the steps I intend to alleviate the current situation.”
 
Mr. Dunckel stated “as a result of the Triple’s actions, I am no longer capable of performing my duties as CEO and Director. As the Triple’s actions included the removal of the sole director of the Asset’s subsidiary which was the Company’s representative, the geographic distance as well as the domestic rules in the State of Israel represents an impossible task to address. Therefore, the appointment of Mrs. Franco seems as the best way to secure value to the Company. As a shareholder with the Company where members of my family invested cash to acquire their position, unless the issues are resolved by Mrs. Franco in “real time”, I intend to seek all means of restitution against the Asset for the damages created by the Triple’s current management”.
 
About Forex International Trading Corp.
 
Headquartered in Haifa, Israel, Forex International Trading Corp. holds an ownership interest in an offshore advanced online trading platform for Forex markets to non U.S. residents.
 
For more information, please visit: http://www.forex-international-trading.com.
 
Forward-Looking Statements: This press release contains forward-looking statements, including expected industry patterns and other financial and business results that involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to differ materially from results expressed or implied by this press release. Such risk factors include, among others, whether Forex International Trading Corp. can successfully execute its operating plan; its ability to integrate acquired companies and technology; its ability to retain key employees; its ability to successfully combine product offerings and customer acceptance of combined products; general market conditions; and whether Forex International Trading Corp. can successfully develop new products and the degree to which these gain market acceptance. Actual results may differ materially from those contained in the forward-looking statements in this press release. Forex International Trading Corp. does not undertake any obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
 
Contact:
Forex International Trading Corp.
Liat Franco. CEO
888-333-8075