UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
July 23, 2007
Date of Report (Date of earliest event reported)
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MY QUOTE ZONE, INC.
(Exact name of registrant as specified in its charter)
NEVADA 000-51224 56-2504276
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(State or Other (Commission File Number) (IRS Employer
Jurisdiction of Identification No.)
Incorporation)
6130 Elton Avenue
Las Vegas, NV 89107
(Address of Principal Executive Offices, including Zip Code)
(702) 874-3131
(Registrant's telephone number, including area code)
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):
|_| 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))
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Item 5.01. Change in Control of Registrant.
On July 23, 2007, Max Time Enterprise Limited ("Purchaser") purchased from
shareholders of My Quote Zone, Inc. (the "Company") an aggregate of 23,879,966
shares of the Company's outstanding common stock, $.001 par value, for a total
purchase price of $600,000 (the "Stock Transaction"). The purchased shares
constituted, in the aggregate, 70.5% of the issued and outstanding shares of the
Company's common stock, resulting in a change in the controlling interest of the
Company.
Prior to the Stock Transaction, Mark Theis and the Metzger Family, as the
two largest selling stockholders of the Company, held 9,000,000 and 5,760,000
shares of the Company's common stock, respectively, representing collectively
43.6% of the Company's issued and outstanding shares of common stock.
The source of the funds with which Purchaser purchased such shares was
working capital.
Item 5.02. Departure of Directors or Principal Officers; Election of Directors;
Appointment of Principal Officers.
Change of Management
On July 23, 2007, the Company's board of directors (the "Board") was
expanded from one to two members and Hui Ping Cheng was appointed as a director
of the Company, to serve until her successor shall be elected and qualified
until the earlier of her death, resignation or removal in the manner provided
for in the Company's by-laws. In addition, Ms. Cheng was nominated and elected
by the Board as President of the Company, to serve until her successor shall be
elected and qualified until the earlier of her death, resignation or removal in
the manner provided for in the Company's by-laws.
In conjunction with Ms. Cheng's appointment to the Board and election as
an officer of the Company, Mark Theis submitted his resignation as a member of
the Board and as the Company's acting President.
Business Experience of New Management.
Hui Ping Cheng, the newly appointed director and President of the Company,
previously served as a senior accountant and accounting department director at
Shenzhen Yi Zhi Pharmaceutical Company Limited from September 1998 until April
2007, where she managed and oversaw the company's accounting department. Since
April 2007, she has served as director and president of Max Time Enterprise
Limited, which positions she continues to hold.
Terms of Engagement.
As provided in the Company's by-laws, all directors shall hold office
until the completion of their term of office as provided in the Company's
by-laws, or until their respective successors have been elected or their earlier
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death, resignation or removal. All officers are appointed annually by the Board
and, subject to any existing employment agreement, serve at the discretion of
the Board. As of this date, no written employment agreement exists between the
Company and Ms. Cheng, as new management. Currently directors of the Company
receive no compensation.
The Company will consider applying for officers and directors liability
insurance at such time as it has the resources to do so. The Company has
determined that it has neither sufficient members nor resources currently to
establish audit, compensation or other committees.
Relationships and Related Transactions.
After giving effect to the Stock Transaction, Hui Ping Cheng is an
indirect owner of the 23,879,996 shares of the Company's common stock held by
Purchaser by reason of her control of Purchaser, of which entity she is the sole
owner, director and officer.
On July 23, 2007, Ms. Cheng was appointed as a director and the President
of the Company.
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.
MY QUOTE ZONE, INC.
DATE: July 24, 2007 By: /s/ Hui Ping Cheng
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Name: Hui Ping Cheng
Title: President
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