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 30, 2008
Mortgage Assistance Center Corporation
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(Exact name of registrant as specified in its charter)
Florida 000-21627 06-1413994
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(State or other jurisdiction (Commission File (IRS Employer
incorporation) Number) Identification No.)
3141 Mockingbird Lane, Suite 1200W
Dallas, Texas 75047
(Address of principal executive offices including Zip Code)
(214) 670-0005
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(Registrant's telephone number, including area code)
N/A
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(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:
[_] Written communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)
[_] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
[_] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[_] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
Item 5.02. Departure of Directors or Principal Officers; Election of
Directors; Appointment of Principal Officers; Compensatory
Arrangements of Certain Officers.
Effective April 30, 2008, Mr. Dan Barnett has resigned as a director of
the Company. Mr. Barnett provided the Company with a letter of resignation
specifying several disagreements with respect certain actions of our Board of
Directors and with respect to the direction in which our senior management has
taken the Company with respect to our operations, policies and practices. A copy
of Mr. Barnett' resignation letter is attached to this Report.
Prior to receiving Mr. Barnett's letter, neither the Board of Directors
nor our senior management was made aware of Mr. Barnett's disagreements
addressed in his resignation letter. Mr. Barnett either attended and
participated in board meetings and voted for, or signed unanimous written
consents in favor of each of the actions described in his resignation letter,
other than with respect to the recent appointment of Mr. Downey as a member of
our board, which was authorized and approved by two of the three members of our
Board of Directors.
Pursuant to Item 5.02(a)(3)(i) we have provided Mr. Barnett with a copy
of this Report and requested that he provide the Company with a written response
regarding whether he agrees or does not agree with the statements the above
statements, and if not, stating in what respects he does not agree. Any response
letter we receive from Mr. Barnett will be filed by us as an amendment to this
Report.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
99.1 Resignation Letter dated April 30, 2008.
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.
MORTGAGE ASSISTANCE
CENTER CORPORATION
Date: May 6, 2008
/s/ Ron Johnson
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Ron Johnson
President and Chief Executive Officer