0000725876-15-000020.txt : 20150304 0000725876-15-000020.hdr.sgml : 20150304 20150304161145 ACCESSION NUMBER: 0000725876-15-000020 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20150302 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20150304 DATE AS OF CHANGE: 20150304 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Viggle Inc. CENTRAL INDEX KEY: 0000725876 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMPUTER PROGRAMMING, DATA PROCESSING, ETC. [7370] IRS NUMBER: 330637631 STATE OF INCORPORATION: DE FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-35620 FILM NUMBER: 15673515 BUSINESS ADDRESS: STREET 1: 902 BROADWAY STREET 2: 11TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10010 BUSINESS PHONE: 212-231-0092 MAIL ADDRESS: STREET 1: 902 BROADWAY STREET 2: 11TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10010 FORMER COMPANY: FORMER CONFORMED NAME: FUNCTION (X) INC. DATE OF NAME CHANGE: 20110216 FORMER COMPANY: FORMER CONFORMED NAME: GATEWAY INDUSTRIES INC /DE/ DATE OF NAME CHANGE: 19980629 FORMER COMPANY: FORMER CONFORMED NAME: GATEWAY COMMUNICATIONS INC DATE OF NAME CHANGE: 19920703 8-K 1 a8ksillermandemandnotes3315.htm 8-K 8K Sillerman Demand Notes 3.3.15


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: March 2, 2015

Viggle Inc.
(Exact name of Registrant as Specified in its Charter)
 
Delaware
0-13803
33-0637631
(State or other jurisdiction of incorporation)
(Commission File Number)
(I.R.S. Employer Identification Number)

902 Broadway, 11th Floor
New York, New York
(Address of principal executive offices)
 

10010 
(Zip Code)
 
(212) 231-0092
(Registrant’s Telephone Number, including Area Code)
 

(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 ( 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.
As previously reported on the Current Report on Form 8-K filed by Viggle Inc. (the “Company”) on December 24, 2014, Mr. Sillerman made an unsecured demand loan to the Company of $2,000,000 on December 19, 2014. As previously reported on the Current Report on Form 8-K filed by the Company on January 19, 2014, Mr. Sillerman made an unsecured demand loan to the Company of $2,000,000 on January 14, 2015. As previously reported on the Quarterly Report on Form 10-Q for the period ended December 31, 2014, Mr. Sillerman made an unsecured demand loan to the Company of $2,000,000 on January 30, 2015. As previously reported on the Current Report on Form 8-K filed by the Company on February 20, 2014, Mr. Sillerman made an unsecured demand loan to the Company of $750,000 on February 13, 2014. On February 26, 2015, Mr. Sillerman made an additional unsecured demand loan to the Company of $1,000,000, and on March 2, 2015, Mr. Sillerman made an additional unsecured demand loan to the Company of $1,000,000. The total principal amount of the loans is now $8,750,000. All of the loans bear interest at a rate of 12% per annum.

The foregoing description of the loans is not complete and is qualified in its entirety by reference to the full text of the form of Demand Promissory Note which is filed herewith as Exhibit 10.1 and incorporated herein by reference. Both the loan made on February 26 and on March 2 are on the form of Demand Promissory Note attached hereto as Exhibit 10.1.

The Company intends to use the proceeds from the new loans to fund working capital requirements and for general corporate purposes. Because Mr. Sillerman is a director, executive officer and greater than 10% stockholder of the Company, a majority of the Company’s independent directors approved the transaction.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The information required by this item is incorporated by reference from Item 1.01 above.

Item 9.01 Financial Statements and Exhibits.

(d)    Exhibits

Exhibit No.    Description
10.1        Form of Promissory Note






SIGNATURES

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 hereunto duly authorized.

 
VIGGLE INC.


By:/s/ Mitchell J. Nelson
 
 
Name:Mitchell J. Nelson
Title: Executive Vice President and Secretary
 
DATE: March 4, 2015
 


INDEX TO EXHIBITS

Exhibit No.
Description
10.1
Form of Promissory Note



EX-10.1 2 exh101sillermandemandnotes.htm EXHIBIT 10.1 Exh10.1 Sillerman Demand Notes 3.2.15
Exhibit 10.1

DEMAND PROMISSORY NOTE

$1,000,000.00                                ____________, 2015
New York, New York


FOR VALUE RECEIVED, the undersigned, Viggle Inc. (the “Borrower”), with an address at 902 Broadway, 11th Floor, New York, NY 10010, hereby promises to pay to the order of Robert F.X. Sillerman (the “Lender”), with an address at c/o SFX Entertainment, Inc., 430 Park Avenue, 6th Floor, New York, NY 10022, the principal sum of One Million Dollars ($1,000,000.00), together with interest thereon from the date hereof at an annual rate equal to 12.00% per annum. Principal and interest due under this Note shall be due and payable upon demand.
Interest hereunder shall be computed on the basis of a 360-day year consisting of twelve 30-day months and shall accrue so long as any sum remains outstanding under this Note. Anything in this Note to the contrary notwithstanding, the obligation of the Borrower to make payments of interest shall be subject to the limitation that payments of interest shall not be required to be made by the Borrower to the extent that the receipt thereof would not be permissible under the law or laws applicable to the Lender limiting rates of interest which may be charged or collected by the Lender. Any such payments of interest which are not made as a result of the limitation referred to in the preceding sentence shall be made by the Borrower to the Lender on the earliest interest payment date or dates on which the receipt thereof would be permissible under the laws applicable to the Lender limiting rates of interest which may be charged or collected by the Lender.
Payments of principal and interest made more than (10) days after they are due, shall bear interest at the lesser of (i) 5% per annum or (ii) the highest rate permitted by applicable law. Payment of the principal and interest due under this Note shall be made at such place as the Lender shall designate to the Borrower and in such coin or currency of the United States of America as at the time of payment is legal tender for the payment of all public and private debts.
The principal amount of this Note may be prepaid at any time and from time to time, in whole or in part, without premium or penalty.



Exhibit 10.1

The Borrower hereby waives presentment, demand for payment, notice of dishonor, and any and all other notices or demands in connection with the delivery, acceptance, performance, default or enforcement of this Note. The Borrower shall pay all fees, expenses and disbursements of the Lender’s counsel in connection with the enforcement of this Note and the collection of all sums due hereunder.
This Note shall be binding upon the Borrower, its successors and assigns and shall inure to the benefit of the heirs, successors and assigns of the Lender.
This Note and the rights and obligations of the Borrower hereunder shall be governed by and construed and interpreted in accordance with the laws of the State of New York.
IN WITNESS WHEREOF, the Borrower has executed this Note as of the day and year first written above.
VIGGLE INC.

By:                    
Name:                    
Title: