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) April 5, 2006
Greens Worldwide Incorporated
(Exact name of registrant as specified in its charter)
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Arizona | | 000-25025 | | 86-0718104 |
(State or other jurisdiction of incorporation) | | (Commission File Number) | | (IRS Employer Identification No.) |
|
346 Woodland Church Road, Hertford, North Carolina 27944 |
(Address of Principal Executive Offices) |
| |
Registrant’s telephone number, including area code | 252-264-2064 |
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Item 1.01 Entry into Material Definitive Agreement
On April 5, 2006, Greens Worldwide Incorporated (“GRWW”) entered into an Agreement for the Exchange of Common Stock (“Agreement”) with Still Moving, Inc. (“SMI”), and its sole stockholder. SMI is engaged in the business of the production of television and print media. Under the terms of the agreement, GRWW will purchase 100% of the common stock of SMI from its sole stockholder for $150,000 worth of common stock of GRWW based on the average thirty day closing price prior to the closing date of the Agreement. The Closing Date is set for April 15, 2006, as indicated in Exhibit 10.1.
The foregoing highlights and summarizes certain pertinent terms and conditions contained in the above-referenced Asset Purchase Agreement to which reference is made for the complete terms and conditions of such Agreement.
EXHIBITS
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Exhibit Number | Description |
10.1 | Agreement for the Exchange of Common Stock |
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SIGNATURES
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.
Dated: April 5, 2006
Greens Worldwide Incorporated
/s/ R. Thomas Kidd
By: ____________________________________
R. Thomas Kidd, President & CEO
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