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): April 17, 2008
SEQUIAM CORPORATION |
(Exact name of registrant as specified in its charter) |
California 333-45678 160; 33-0875030 | ||
(State or other jurisdiction | (Commission | (IRS Employer |
of incorporation) | File Number) | Identification No.) |
300 Sunport Lane, Orlando, Florida | 32809 |
(Address of principal executive offices) | (Zip Code) |
Registrant’s telephone number, including area code: (407) 541-0773
(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))
SECTION 1 – REGISTRANT’S BUSINESS AND OPERATIONS
Item 1.03. Bankruptcy or Receivership
On March 15, 2008, Sequiam Corporation and its wholly owned subsidiary Sequiam Biometrics, Inc. (the "Company") filed a voluntary petition for relief under chapter 11 of title 11 of the United States Code (the "Bankruptcy Code") in the United States Bankruptcy Court for the Middle District of Florida (the "Court") (Case Numbers 6:08-bk-01984-ABB and 6:08-bk-01985-ABB).
On April 17, 2008, the Court entered an order granting relief from the automatic stay to the Company’s secured lender, Biometric Investors, LLC. (“BIL”). The order further allows BIL to exercise all available in rem possession against its collateral and foreclosure against all stock pledged and all Trademarks and Patents owned by the Company.
After BIL has taken possession of all of the Company’s assets, it will cease to operate its business as a "debtor-in-possession" and liquidate under the jurisdiction of the Court and in accordance with the applicable provisions of the Bankruptcy Code and the orders of the Court.
Copies of Court Orders are attached hereto as Exhibit 10.1 and 10.2 and are incorporated herein by reference.
SECTION 9 – FINANCIAL STATEMENTS AND EXHIBITS
Item 9.01 Financial Statements and Exhibits.
(a) Financial Statements of Businesses Acquired.
Not Applicable
(b) Pro Forma Financial Information.
Not Applicable
(c) Shell Company Transactions.
Not Applicable
(d) Exhibits.
Number Description
10.1 | Order Granting Motion for Relief from Automatic Stay of Biometric Investors, LLC Case No. 6:08bk01984-ABB |
10.2 | Order Granting Motion for Relief from Automatic Stay of Biometric Investors, LLC Case No. 6:08bk01985-ABB |
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.
SEQUIAM CORPORATION | |
(Registrant) | |
Date: April 22, 2008 | |
By: /s/ Mark L. Mroczkowski | |
Mark L. Mroczkowski | |
Executive Vice President and Chief Financial Officer |