-----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, VXIXj/U1JKRYRDqS+4+3c8kUepkaU/SGPujkaqTUH6vLptewTMHC7EIjObwKUpy4 Gbq0EIlF3M7svWrGVtSyBQ== 0001144204-08-048281.txt : 20080818 0001144204-08-048281.hdr.sgml : 20080818 20080818170924 ACCESSION NUMBER: 0001144204-08-048281 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20080812 ITEM INFORMATION: Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers ITEM INFORMATION: Other Events FILED AS OF DATE: 20080818 DATE AS OF CHANGE: 20080818 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Secured Digital Storage CORP CENTRAL INDEX KEY: 0000319040 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMPUTER PROGRAMMING, DATA PROCESSING, ETC. [7370] IRS NUMBER: 850280415 STATE OF INCORPORATION: NM FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-09500 FILM NUMBER: 081025668 BUSINESS ADDRESS: STREET 1: 2001 BUTTERFIELD ROAD STREET 2: SUITE 1050 CITY: DOWNERS GROVE STATE: IL ZIP: 60515 BUSINESS PHONE: 630-271-8590 MAIL ADDRESS: STREET 1: 2001 BUTTERFIELD ROAD STREET 2: SUITE 1050 CITY: DOWNERS GROVE STATE: IL ZIP: 60515 FORMER COMPANY: FORMER CONFORMED NAME: MOUNTAINS WEST EXPLORATION INC DATE OF NAME CHANGE: 19950515 8-K 1 v124130_8k.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 Exchange Act of 1934
 
Date of Report (Date of earliest event reported): August 12, 2008
 
 
Secured Digital Storage Corporation
(Exact Name of Registrant as Specified in Its Charter)
 
New Mexico
0-9500
85-0280415
(State or other jurisdiction
of incorporation)
(Commission File Number)
(I.R.S. Employer Identification No.)
 
2001 Butterfield Road, Suite 1050, Downers Grove, IL 60515
(Address of Principal Executive Offices, Including Zip Code)
 
(630) 271-8590
(Registrant's Telephone Number, Including Area Code)
 
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
 
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:
 
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))
 
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TABLE OF CONTENTS

 
  
 
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
2
     
Item 8.01
Other Events.
2
 
 
 
Signature
 
3

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Effective August 12, 2008, Secured Digital Storage Corporation (the "Company") has modified existing letter agreements with Lawrence Malone, its President and Chief Operating Officer, Patrick Gainer, its Chief Financial Officer, and Don Hauschild, its Chief Information Officer, to eliminate the payment of salaries as discussed in Item 8.01 below, as incorporated into this Item.

Item 8.01 Other Events.
  
On August 12, 2008, the Board of Directors of the Company approved the immediate suspension of all salaries to all officers. Three such executives, Messrs. Malone, Gainer and Hauschild, are parties to certain employment letters and have agreed to modify or waive the provisions in such letters related to payment of salary.

On August 14, 2008, the Company terminated all non-officer employees. There were five non-officer employees in total. The Company has outstanding compensation due to such employees and may be subject to claims for such wages, including claims under the Illinois Wage Payment and Collection Act.

The Company continues to attempt to raise additional capital. No assurance can be made that these efforts will be successful.
 
Page 2 of 3

SIGNATURE
 
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.
 
 
 
 
 
Secured Digital Storage Corporation
 
 
 
 
 
 
Dated: August 18, 2008
By:  
/s/ William M. Lynes
 
William M. Lynes,
 
Chief Executive Officer
 
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