globalres_8k-121709.htm
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): December 17, 2009
Global
Resource Corporation
(Exact
Name of Registrant as Specified in its Charter)
| Nevada |
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000-50944 |
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84-1565820 |
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(State or Other Jurisdiction
of
Incorporation)
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(Commission
File
Number)
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(IRS Employer
Identification
No.)
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1000
Atrium Way, Suite 100
Mount
Laurel, New Jersey 08054
(Address
of Principal Executive Offices) (Zip Code)
Registrant's
telephone number, including area code: (856) 767-5665
(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 Company under any of the following
provisions (see General Instruction A.2. below):
o Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
o Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
o Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
o Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
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Item
5.02
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Departure
of Directors or Certain Officers; Election of Directors; Appointment of
Certain Officers; Compensatory Arrangements of Certain
Officers.
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On
December 17, 2009, Global Resource Corporation (the “Company”) issued (i)
150,000 shares of its Common Stock to Brian Ettinger, (ii) 200,000 shares of its
Common Stock to Kim O’Brien, and (iii) 200,000 shares of its Common Stock to
Jonathan Simon. These issuances were valued at $0.58 per share and
were for services provided by the recipients as members of the Company’s Board
of Directors.
On
January 1, 2010, the Company entered into a Consulting Services Agreement with
Brian Ettinger, the Chairman of the Board of Directors of the
Company. Pursuant to the Consulting Services Agreement, (A) Mr.
Ettinger agreed to provide the Company with certain consulting services outside
his duties as Chairman of the Board of Directors of the Company and (B) as
compensation for the consulting services to be provided by Mr. Ettinger pursuant
to the Consulting Services Agreement, the Company agreed to issue to Mr.
Ettinger (i) 375,000 shares of its Common Stock (valued at $0.58 per share, the
last sale price per share of the Company’s Common Stock as reported by the Pink
Sheets on December 31, 2009), which shares may be required to be assigned back
to the Company in the event of the termination of the Consulting Services
Agreement under certain circumstances, and (ii) warrants to purchase a total of
500,000 shares of the Company’s Common Stock at an exercise price of $0.58 per
share, half of which warrants vest on each of July 1, 2010 and January 1, 2011
and which warrants are exercisable for a 24 month period following the
respective vesting dates. A copy of the Consulting Services Agreement
is attached hereto as Exhibit 10.1 and incorporated herein by
reference.
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Item
9.01
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Financial
Statements and Exhibits
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Exhibit
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Description of
Exhibit
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10.1
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Consulting
Services Agreement, dated as of January 1, 2009, between the Company and
Brian Ettinger.
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SIGNATURES
Pursuant to the requirements of the
Securities Exchange Act of 1934, the Company has duly caused this report to be
signed on its behalf by the undersigned hereunto duly authorized.
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Global
Resource Corporation |
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Dated:
January 8, 2010
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By:
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/s/ Ken
Kinsella |
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Ken
Kinsella |
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Chief
Executive Officer |
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