form8k103107.htm
UNITED
STATES
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): October 31, 2007
KleverMarketing.
Inc.
(Exact
name of registrant as specified in its charter)
|
Delaware
|
000-18730
|
363688583
|
|
(State
or other jurisdiction
|
(Commission
File
|
(IRS
Employer
|
|
Of
incorporation)
|
Number)
|
Identification
No.)
|
955
N
400 W, Suite 8, North Salt Lake, UT 84054
(Address
of principal executive offices) (Zip Code)
PO
Box
#329, Bountiful, UT 84011-0329
(Preferred
address for secured mail receipt and company correspondence)
(801)
951-8066 (new) and/or former telephone number (801) 263-0404
Registrant’s
telephone number, including area code
3785
South 700 East, #230. SaltLake City,Utah 84106
(Former
address, which has been changed since last report.)
Item
8 -
Other
The
registrant considers the following information to be of importance to security
holders.
The
Company’s Board of Directors previously directed management to facilitate
agreements with various vendors and debt holders to significantly reduce vendor
and creditor obligations and allow for a material reduction of debt as reported
in the balance sheet. Accordingly, management has executed a number
of such agreements, concluded in the third quarter of 2007, that will have
a
material impact on the financial statements. An unaudited summary of
the agreements and their impact on the financial statements for the third
quarter is stated in the following table. For all debt and interest
exchanges for stock, the company issued common stock restricted shares at an
issue share price of .25 cents. Although the company received no cash
from these agreements, a material reduction in balance sheet debt, in the amount
of $4,412,168, and extraordinary gain from debt restructure in the amount of
$2,318,085 will be recorded in the third quarter.
|
Debt
Conversion to Shares to be reported
|
|
$ |
2,094,085
|
|
|
Extraordinary
income to be reported
|
|
$ |
2,318,083
|
|
| |
|
|
|
|
|
Total
Balance sheet reduction of debt to be reported
|
|
$ |
4,412,168
|
|
SIGNATURES
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.
Klever
Marketing, Inc.
Date:
November 12, 2007
by:
/s/
John L. Hastings III, President & CEO
____________________________________________