-----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, StbPMrEht3RZa90LrC8Y5UXAlnChUQFOXjXbzi0AIzAy9te5/PKvydnyiMmakpvK 26T9WaeDayxqIiVz3/h1OQ== 0001161697-08-000090.txt : 20080129 0001161697-08-000090.hdr.sgml : 20080129 20080129092315 ACCESSION NUMBER: 0001161697-08-000090 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20080124 ITEM INFORMATION: Triggering Events That Accelerate or Increase a Direct Financial Obligation under an Off-Balance Sheet Arrangement FILED AS OF DATE: 20080129 DATE AS OF CHANGE: 20080129 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DYNAMIC LEISURE CORP CENTRAL INDEX KEY: 0000934873 STANDARD INDUSTRIAL CLASSIFICATION: TRANSPORTATION SERVICES [4700] IRS NUMBER: 411508703 STATE OF INCORPORATION: MN FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-07953 FILM NUMBER: 08556112 BUSINESS ADDRESS: STREET 1: 5680A W. CYPRESS STREET CITY: TAMPA STATE: FL ZIP: 33607 BUSINESS PHONE: 813-877-6300 MAIL ADDRESS: STREET 1: 5680A W. CYPRESS STREET CITY: TAMPA STATE: FL ZIP: 33607 FORMER COMPANY: FORMER CONFORMED NAME: DYNECO CORP DATE OF NAME CHANGE: 19960521 8-K 1 dynamic_leisure8-k.htm FORM 8-K FOR 01-24-2008 (2)

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):  January 24, 2008

DYNAMIC LEISURE CORPORATION

(Exact name of registrant as specified in its charter)

333-07953

(Commission File Number)

 

Minnesota

 

41-1508703

(State or other jurisdiction

of Incorporation)

 

(I.R.S. Employer

Identification No.)

 

5680A W. Cypress Street

           Tampa, FL 33607          

(Address of principal executive offices)

(813) 877-6300

(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):

 

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 2.04  Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement.

The Company has been named as a principal party to proceedings brought in the name of MMA Capital, LLC (“MMA”) in United States District Court for the Northern District of California alleging breach of the Secured Convertible Promissory Note and Security Agreement executed by the parties on or about January 11, 2006. The complaint also alleges breach of the Confidential Settlement Agreement executed by the parties on or about March 5, 2007. MMA has petitioned the Court for a temporary restraining order and order to show cause regarding preliminary injunction against Dynamic Leisure Corporation prohibiting Dynamic, its agents, servants and employees, and all persons acting under, in concert with, or for them, from pledging, disposing of or destroying any of the assets that it has pledged as security to MMA for a $2.25 million loan that MMA made to Dynamic. The Motion will be made on the grounds that Dynamic intends to and will imminently enter into a convertible debt financing transaction with Trafalgar Capital Specialized Investment Fund and give Trafalgar a senior security interest in the Collateral which will irreparably harm MMA's interest in the Collateral. The Company recently received service of the complaint on January 24, 2008 and is reviewing its contents. The Company has retained counsel to prepare a responsive pleading.

 

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.

 

DYNAMIC LEISURE CORPORATION

 

 

 

 

Date: January 29, 2008

By: /s/ Daniel G. Brandano

 

Daniel G. Brandano

 

President

 

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