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: October 2, 2007 (date of earliest event report)
Speedemissions, Inc.
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(Exact name of registrant as specified in its charter)
Florida
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(State or other jurisdiction of incorporation)
000-49688 33-0961488
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(Commission File Number) (IRS Employer Identification No.)
1015 Tyrone Road, Suite 220, Tyrone, Georgia 30290
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(Address of principal executive offices) (Zip Code)
(770) 306-7667
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(Registrant's telephone number, including area code)
n/a
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(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):
|_| Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
|_| Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
|_| Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
|_| Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
Item 3.02. Unregistered Sales of Equity Securities.
On September 24, 2007, we issued 2,127,150 shares of our common stock
pursuant to a private placement for a cash purchase price of $0.15 per share
plus the surrender of warrants. The total offering price was $319,072.50. The
issuance of common stock pursuant to the private placement was exempt from
registration pursuant to Section 4(2) of the Securities Act of 1933, as amended,
and Rule 506 promulgated thereunder.
Proceeds from the exercise of the warrants are expected to be used to fund
the Company's growth into two new markets: Dallas, Texas and St. Louis,
Missouri. The Company expects to open between twelve to seventeen stores
combined in these markets with these proceeds in the next two to six months.
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.
Dated: September 26, 2007 Speedemissions, Inc.,
a Florida corporation
/s/ Richard A. Parlontieri
By: Richard A. Parlontieri
Its: President