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OTGO.OB > SEC Filings for OTGO.OB > Form 8-K on 4-Mar-2008All Recent SEC Filings

Show all filings for ORGANIC TO GO FOOD CORP | Request a Trial to NEW EDGAR Online Pro

Form 8-K for ORGANIC TO GO FOOD CORP


4-Mar-2008

Unregistered Sale of Equity Securities, Change in Directors or Principal


Item 3.02 Unregistered Sale of Equity Securities

On February 27, 2007, Organic To Go Food Corporation (the "Company") closed the $10.0 million private placement (the "Private Placement") previously disclosed in a Current Report on Form 8-K filed by the Company on February 25, 2008.

The Private Placement was conducted pursuant to Section 4(2) of the Securities Act of 1933, as amended, and Regulation S promulgated thereunder.



Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Directors.

Effective February 27, 2008, the Board of Directors of the Company appointed Gunnar Weikert as director of the Company. Dr. Weikert serves as director of Inventages Whealth Management, Inc., a General Partner of the Investor.

Other than as disclosed in this Current Report, there are no arrangements or understandings between Dr. Weikert and any other persons pursuant to which he was appointed as director. There are no family relationships among Dr. Weikert and the directors or executive officers of the Company.

Other than as disclosed in this Current Report, Dr. Weikert is not a party to any transactions with the Company that require disclosure pursuant to Item 404(a) of Regulation S-K.

As compensation for his services as director of the Company for the year ending December 31, 2008, Dr. Weikert will receive a director's fee of $10,000, which he will donate to a charity. In addition, upon approval by the Board of Directors of the Company, Dr. Weikert will receive a ten year option to purchase 83,333 shares of common stock of the Company. The options will have an exercise price equal to the fair market value of the Company's common stock on the date of grant and will vest monthly in equal installments over a two year period beginning on February 27, 2008 and ending on February 27, 2010, with the first installment vesting on March 27, 2008.


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