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AFNG.OB > SEC Filings for AFNG.OB > Form 8-K on 22-Oct-2009All Recent SEC Filings

Show all filings for ANCHOR FUNDING SERVICES, INC. | Request a Trial to NEW EDGAR Online Pro

Form 8-K for ANCHOR FUNDING SERVICES, INC.


22-Oct-2009

Termination of a Material Definitive Agreement, Financial Statement


Item 1.02. Termination of Material Definitive Agreement

Pursuant to an agreement dated as of October 16, 2009, the Registrant's wholly-owned subsidiary, Anchor Funding Services, LLC, entered into an agreement to terminate its lease covering premises currently known as 800 Yamato Road, Suite 102, Boca Raton, FL 33431. The lease agreement which was entered into on April 16, 2007 and would have expired on May 31, 2012 will now terminate and Anchor will vacate these premises on or before October 31, 2009. The Registrant's subsidiary bought out the lease at a total cost of $100,000 in order to reduce net leasing costs of an estimated $8,300 per month or $100,000 per annum. The termination of this lease is part of the organization's effort to substantially reduce overhead costs. There is no material relationship between the Registrant and the landlord of the premises being surrendered. A copy of the termination of lease is filed as exhibit 10.1 below.



Item 9.01 Financial Statements and Exhibits.

(d) Exhibit.

The following exhibit is filed with this Form 8-K.

10.1 Termination of Lease and surrender, acceptance and release dated October 16, 2009 by and between Boca Town Partners, LLC and Anchor Funding Services, LLC.


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