Capital Financial Global, Inc. – ‘8-K’ for 11/9/04

On:  Monday, 11/22/04, at 11:56am ET   ·   For:  11/9/04   ·   Accession #:  1144204-4-19992   ·   File #:  0-25037

in

this entire Filing. an “Entity” Search.

Show

Documents searched

and

each “hit”. the 1st “hit”.

↓↑Hints

Current Report   —   Form 8-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 8-K         Current Report                                         2     10K 

8-K
1st Page of 2
TOC
↑Top
Previous
Next
↓Bottom
Just 1st
 
 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 EVENT REQUIRING REPORT: NOVEMBER 9, 2004

 MARX TOYS AND ENTERTAINMENT CORP.
------------------------------------------------------
(Exact name of registrant as specified in its charter)

    NEVADA                    000-25037               22-3360133
------------------------    ------------------------    -----------------   
(State of Incorporation)    (Commission File Number)      (IRS Employer     
                                                     Identification #)

 ROSS LATERRA, CHIEF EXECUTIVE OFFICER
 101 SOUTH 15TH STREET
 SEBRING, OHIO 44672
--------------------------------------------
(Address of Principal Executive Offices)

(330) 938-1749
--------------------------------------------------
(Registrant's telephone number, including area code)

 1

8-K
Last Page of 2
TOC
1st
Previous
Next
↓Bottom
Just 2nd
ITEM  5.                                                                        

(a)   On November 9, 2004 effective immediately, Robert P. Bambery stepped down 
as Chief Executive Officer of the company.                          

(b)   On November 9, 2004 the board of directors of the Registrant determined   
that it was in its best interests of the corporation to select Ross 
  LaTerra to be appointed as Chief Executive Officer and Director of the
   Registrant effective immediately. The terms to his employment agreement
with the Registrant are as follows:                                 

a.    EMPLOYMENT AGREEMENT. Effective as of November 1, 2004, by and
         subject to the terms and conditions herein contained, Mr. LaTerra
  shall perform the duties of the Chief Executive Officer by
      implementing a strategic plan to bring MRXT to the prestigious
       reputation it once had in the Toy and Entertainment industry by
          providing Business Management, Marketing and Executive services to
         MRXT in addition to other such duties and actions as the board of
          directors shall deem necessary or appropriate for MRXT's business.

      b.    PAYMENT. Additional consideration will be provided to Mr. LaTerra in
          the form of equity and monthly cash salary to be determined by the
         compensation committee of the board of directors. Until such time
     that a monthly cash salary is available, Mr. LaTerra shall be
      compensated in the amount of $6,000.00 per month, beginning in
        November of 2004, utilizing the following formula. MRXT shall in
       respect to each month during the term of this agreement issue a
            number of shares determined by dividing $6,000 by the product of 80%
          and the average low price for MRXT common stock during such month.
         MRXT shall also issue five-year options to purchase an equivalent
      number of shares of our common stock at a price of 120% of the
average low price per share.                            

(c)   On November 9, 2004 the board of directors of the Registrant determined   
that it was in its best interests of the corporation that Robert P. 
   Bambery retain his position as President, Secretary and Director of the
     Registrant. The terms to his employment agreement with the Registrant are
as follows:                                                         

a.    EMPLOYMENT AGREEMENT. Effective as of November 1, 2004, by and
         subject to the terms and conditions herein contained, Mr. Bambery
   shall perform the duties of the President by implementing a
          strategic plan to bring MRXT to the prestigious reputation it once
           had in the Toy and Entertainment industry by providing Business and
          product sales Management, Marketing and Corporate services to MRXT
    in addition to other such duties and actions as the board of
          directors shall deem necessary or appropriate for MRXT's business.

      b.    PAYMENT. Additional consideration will be provided to Mr. Bambery in
          the form of equity and monthly cash salary to be determined by the
         compensation committee of the board of directors. Until such time
     that a monthly cash salary is available, Mr. Bambery shall be
      compensated in the amount of $6,000.00 per month, beginning in
        November of 2004, utilizing the following formula. MRXT shall in
       respect to each month during the term of this agreement issue a
           number of shares determined by dividing $6,000.00 by the product of
       80% and the average low price for MRXT common stock during such
     month. MRXT shall also issue five-year options to purchase an
          equivalent number of shares of our common stock at a price of 120%
of the average low price per share.                     

SIGNATURES                                                                      

Pursuant to the requirements of the Securities Exchange Act of 1934, the        
Registrant has duly caused this Current Report on Form 8-K to be signed on its  
behalf by the undersigned hereunto duly authorized.                             

By:  /s/  Ross LaTerra                                                
----------------------------                                          
Ross LaTerra                                                          
CEO                                                                   

Date:  November 9, 2004                                                         

Dates Referenced Herein   and   Documents Incorporated by Reference

				Referenced-On Page
This ‘8-K’ Filing		Date		First		Last			Other Filings
Filed on:		11/22/04
For Period End:		11/9/04		1		2			3
		11/1/04		2
									List all Filings