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): February 17, 2009
2-TRACK GLOBAL, INC.
(Exact name of registrant as specified in its charter)
| | | | |
Nevada | | 333-89208 | | 41-2036671 |
(State or other jurisdiction of incorporation) | | (Commission File Number) | | (IRS Employer Identification No. |
Item: 8.01 Other Events
On February 17, 2009 a British Liquidator was appointed to dissolve the business of 2-Track Ltd., the Registrant's wholly-owned London-based company. The primary reason for the liquidation was to consolidate the Registrant's business activities in the U.S. and alleviate the need for UK audits of the British subsidiary.
All of the business operations of 2-Track Ltd. including the PRISM patent were transferred to the Registrant's New York-based subsidiary, 2-Track USA, Inc.
As indicated on Form 12b-25 filed with the Commission on March 26, 2008, as a result of the liquidation of 2-Track, Ltd. a total of $2,101,878 of inter-company payables owed by 2-Track Ltd. to the Registrant were written-off as of 12/31/2008. This write-off did not materially affect the Registrant's consolidated balance sheet because inter-company accounts and transactions have been eliminated in consolidation. The impact on the P&L has not yet been determined due to other offsetting amounts.
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.
Date: April 2, 2009 2-TRACK GLOBAL, INC.
By:_/s/ Woosun Jung_____________________
Woosun Jung, Chief Executive Officer