Current Report Filing (8-k)
22 February 2017 - 11:58AM
Edgar (US Regulatory)
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):
February 15, 2017
Greenwood Hall, Inc.
(Exact name of registrant as specified in its
charter)
Nevada
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333-184796
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99-0376273
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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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12424 Wilshire Blvd, Suite 1030, Los Angeles, California
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90025
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(Address of principal executive offices)
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(Zip Code)
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(310) 907-8300
(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):
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Written communications pursuant
to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Item 8.01 Other Events.
On February 15, 2017,
the Los Angeles Superior Court entered an Order satisfying the conditions to a Settlement Agreement and Mutual Release (the “Settlement
Agreement”), dated January 9, 2017, by and between Greenwood Hall, Inc., a Nevada corporation (the “Company”),
and Zantine Greenwood (“Greenwood”), a former officer and founder of the Company.
On August 26, 2016, Greenwood
commenced a proceeding in Arbitration alleging that the Company had breached its obligations under a consulting agreement entered
into by and between Greenwood and the Company on or about July 24, 2014 (the “Consulting Agreement”). The Company
did not appear at the Arbitration. On September 23, 2016, the Arbitrator issued an award to Greenwood against the Company
in the sum of $236,250.79. On October 26, 2016, Greenwood filed a petition to confirm the award in the Los Angeles Superior
Court, Case No. BS165962. The Company opposed the petition and requested that the court vacate the award, asserting that the arbitration
provision in the Consulting Agreement was void under applicable law and therefore the Arbitrator had no jurisdiction over the dispute. Pursuant
to the Settlement Agreement, the Company agreed to pay Greenwood $115,000 plus 5.5% simple interest in monthly installments of
$10,000 until payment in full in exchange for a release of any and all claims against the Company arising from or relating to the
dispute. Conditions to the settlement were that the Court vacate the award and retain jurisdiction until all payments have
been made, which Order was entered by the Court on February 15, 2016.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
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99.1
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Settlement Agreement and
Mutual Release, dated January 9, 2017.
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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.
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GREENWOOD HALL, INC.
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Date: February 22, 2017
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By:
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/s/ John Hall
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Name: John Hall
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Title: Chief Executive Officer
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