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)
January 29, 2010
 
PANGLOBAL BRANDS INC.
(Exact name of registrant as specified in its charter)

Delaware
333-131531
20-8531711
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(IRS Employer
Identification No.)

2853 E. Pico Blvd., Los Angeles CA 90023
(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code
323 266-6500

N/A
(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 registrant 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))
 

 
 

 
Item 1.01
Entry into a Material Definitive Agreement.
 
On January 29, 2010, Mynk Corporation, our wholly-owned subsidiary entered into a loan agreement with Charles Lesser, our CEO, CFO and Secretary.  Mr. Lesser agreed to loan our company the aggregate principal amount of US$260,000 bearing interest 9% per annum calculated and compounded monthly, payable on March 1, 2010, unless sooner prepaid or accelerated upon.
 
 
We provided a Guarantee for the loan and we also signed an agreement granting security rights to two of our trademarks: “Crafty Couture”   and “Crafty by Scrapbook”.
 
Item 9.01
Financial Statements and Exhibits.
 
 
Exhibits
 
10.1



 
2
 
 
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.
 
PANGLOBAL BRANDS INC.
 

 
By:  /s/ Charles Lesser
Charles Lesser
CEO, CFO and Secretary
 
Date: February 16, 2010
 


 
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