U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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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): July 17, 2006
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PERFORMANCE CAPITAL MANAGEMENT, LLC
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(Exact name of registrant as specified in its charter)
CALIFORNIA 0 - 50235 03-0375751
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(State or other (Commission (I.R.S. Employer
Jurisdiction File Number) Identification No.)
of incorporation)
222 SOUTH HARBOR BLVD., SUITE 400
ANAHEIM, CALIFORNIA 92805
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (714) 502-3780
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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 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.
On July 17, 2006, Performance Capital Management, LLC, a California limited
liability company, ("the Company") entered into an Office Lease Agreement (the
"Lease") with LBA Realty Fund-Holding Co. II, LLC, a Delaware limited liability
company, (the "Landlord") to lease office space consisting of two office suites
on the second floor in the building located at 7001 Village Drive, Suites 200
and 255, Buena Park, California. The Company intends to use the leased premises
as its principal executive offices and operating facility. The Company believes
that the leased facilities will provide adequate space for its operations as
currently conducted and as it expects to conduct them for the foreseeable
future.
The term of the Lease is 87 months and is expected to commence on or around
December 1, 2006, and will expire on February 28, 2014. The Company has an
option to renew the Lease for one additional five-year term at the then
prevailing "fair market rental rate" at the end of the term.
The base rent will increase on a yearly basis throughout the term. Annual base
rent for the calendar years ended December 31, will be:
Year Approximate Annual Rent
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2006 $ 29,000
2007 $ 173,000
2008 $ 345,000
2009 $ 348,000
2010 $ 355,000
2011 $ 355,000
2012 $ 362,000
2013 $ 364,000
2014 $ 61,000
In addition to the base rent, the Company must pay its pro rata share of the
increase in operating expenses, property taxes and property insurance for the
building above the total dollar amount of operating expenses, property taxes and
property insurance for the 2006 base calendar year.
FORWARD-LOOKING STATEMENTS
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Except for the historical information presented in this document, the matters
discussed in this Form 8-K or otherwise incorporated by reference into this
document contain "forward-looking statements" (as such term is defined in the
Private Securities Litigation Reform Act of 1995). These statements can be
identified by the use of forward-looking terminology such as "believes,"
"plans," "expects," "may," "will," "intends," "should," "plan," "assume" or
"anticipates" or the negative thereof or other variations thereon or comparable
terminology, or by discussions of strategy that involve risks and uncertainties.
The safe harbor provisions of Section 21E of the Securities Exchange Act of
1934, as amended, and Section 27A of the Securities Act of 1933, as amended,
apply to forward-looking statements made by Performance Capital Management, LLC.
You should not place undue reliance on forward-looking statements.
Forward-looking statements involve risks and uncertainties. The actual results
that we achieve may differ materially from any forward-looking statements due to
such risks and uncertainties. These forward-looking statements are based on
current expectations, and we assume no obligation to update this information.
Readers are urged to carefully review and consider the various disclosures made
by us in this report on Form 8-K and in our other reports filed with the
Securities and Exchange Commission that attempt to advise interested parties of
the risks and factors that may affect our business.
SIGNATURES
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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.
PERFORMANCE CAPITAL MANAGEMENT, LLC
July 19, 2006 By: /s/ David J. Caldwell
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(Date) David J. Caldwell
Its: Chief Operations Officer