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<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt; FONT-WEIGHT: bold">SECURITIES AND EXCHANGE COMMISSION</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 18pt; FONT-WEIGHT: bold"><font style="DISPLAY: inline">CARBONICS CAPITAL CORPORATION</font></font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><font style="DISPLAY: inline">Delaware</font></font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(IRS Employer</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Identification No.)</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><font style="DISPLAY: inline">100 Overlook Center, 2</font><font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">nd</font><font style="DISPLAY: inline"> Floor</font></font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><font style="DISPLAY: inline">08540</font></font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">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:</font></div>

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<div align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Entry into a Material Definitive Agreement</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">On December 6, 2011 Carbonics Capital Corporation, a Delaware corporation (&#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Carbonics</font>&#8221;) issued to YA Global Investments, L.P., a Cayman Islands limited partnership (&#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">YA Global</font>&#8221;) a Secured Convertible Debenture dated December 6, 2011 in the principal amount of $910,000 (the &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Debenture CICS-9</font>&#8221;). Debenture CICS-9 bears interest at the rate of 9% per annum, payable at maturity.&#160;&#160;The maturity date for payment of Debenture CICS-9 is December 31, 2013.&#160;&#160;The holder of Debenture CICS-9 is entitled to convert the principal and accrued interest on the debenture into common stock of Carbonics (the &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Common Stock</font>&#8221;) at a conversion rate initially equal to (a) $0.003 (the &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Fixed Conversion Price</font>&#8221;), or (b) 90% of the lowest daily volume-weighted average price of the Common Stock (&#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">VWAP</font>&#8221;) during the 10 consecutive trading days immediately preceding the conversion date or other date of determination, subject to adjustment as provided for in the debenture. The shares of Common Stock into which Debenture CICS-9 may be converted will not be registered for resale and shall be subject to the rights and restrictions of Rule 144.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">In addition, on December 6, 2011, Carbonics also entered into Amendment No. 2, dated December 6, 2011 (the &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">SPA Amendment No. 2</font>&#8221;), to the Securities Purchase Agreement dated as of August 17, 2010 entered into by and between Carbonics and YA Global (&#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">SPA</font>&#8221;). SPA Amendment No. 2 provided for the purchase and issuance of the Debenture CICS-9 pursuant to the terms of the SPA.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">On December 6, 2011 Carbonics Capital Corporation, a Delaware corporation (&#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Carbonics</font>&#8221;) issued to YA Global Investments, L.P., a Cayman Islands limited partnership (&#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">YA Global</font>&#8221;) a Secured Convertible Debenture dated December 6, 2011 in the principal amount of $172,411 (the &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Debenture CICS-10</font>&#8221;). Debenture CICS-10 bears interest at the rate of 9% per annum, payable at maturity.&#160;&#160;The maturity date for payment of Debenture CICS-10 is December 31, 2013.&#160;&#160;The holder of Debenture CICS-10 is entitled to convert the principal and accrued interest on the debenture into common stock of Carbonics (the &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Common Stock</font>&#8221;) at a conversion rate initially equal to (a) $0.003 (the &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Fixed Conversion Price</font>&#8221;), or (b) 90% of the lowest daily volume-weighted average price of the Common Stock (&#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">VWAP</font>&#8221;) during the 10 consecutive trading days immediately preceding the conversion date or other date of determination, subject to adjustment as provided for in the debenture. The shares of Common Stock into which Debenture CICS-10 may be converted will not be registered for resale and shall be subject to the rights and restrictions of Rule 144. Debenture CICS-10 was issued for consideration consisting solely of the surrender of three existing promissory notes issued by Carbonics to YA Global, which promissory notes had an outstanding balance as of December 6, 2011 equal to $172,411.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">In addition, on December 6, 2011, Carbonics also entered into Amendment No. 3, dated December 6, 2011 (the &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">SPA Amendment No. 3</font>&#8221;), to the Securities Purchase Agreement dated as of August 17, 2010 entered into by and between Carbonics and YA Global (&#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">SPA</font>&#8221;). SPA Amendment No. 3 provided for the purchase and issuance of the Debenture CICS-10 pursuant to the terms of the SPA.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The foregoing descriptions of the Debenture CICS-9, Debenture CICS-10, SPA Amendment No. 2 and SPA Amendment No. 3 do not purport to be complete and are qualified in their entirety by reference to the full text of the debentures and SPA amendments filed as Exhibits&#160;10.1, 10.2, 10.3 and 10.4 hereto.</font></div>

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<div align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Secured Convertible Debenture dated December 6, 2011 in the principal amount of $910.00, with YA Global Investments L.P. as the &#8220;Holder&#8221; thereunder and Carbonics Capital Corporation as the &#8220;Company&#8221; thereunder.</font></div>
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<div align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Amendment No. 2 to Securities Purchase Agreement dated as of December 6, 2011 entered into by and between Carbonics Capital Corporation and YA Global Investments L.P.</font></div>
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<div align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Secured Convertible Debenture dated December 6, 2011 in the principal amount of $172,411, with YA Global Investments L.P. as the &#8220;Holder&#8221; thereunder and Carbonics Capital Corporation as the &#8220;Company&#8221; thereunder.</font></div>
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<div align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Amendment No. 3 to Securities Purchase Agreement dated as of December 6, 2011 entered into by and between Carbonics Capital Corporation and YA Global Investments L.P.</font></div>
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{"company-data": {"conformed-name": "CARBONICS CAPITAL CORP", "cik": "0001102414", "assigned-sic": "2860", "irs-number": "223328734", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-28887", "film-number": "12502917"}, "business-address": {"street1": "ONE PENN PLAZA", "street2": "SUITE 1612", "city": "NEW YORK", "state": "NY", "zip": "10119", "phone": "(212) 994-5374"}, "mail-address": {"street1": "ONE PENN PLAZA", "street2": "SUITE 1612", "city": "NEW YORK", "state": "NY", "zip": "10119"}, "former-company": [{"former-conformed-name": "GREENSHIFT CORP", "date-changed": "20050517"}, {"former-conformed-name": "GREENWORKS CORP", "date-changed": "20041228"}, {"former-conformed-name": "TELCO TECHNOLOGY INC", "date-changed": "20000104"}]}
Unassociated Document
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
COMMISSION FILE NO.: 0-28887
Date of Report: January 3, 2012
CARBONICS CAPITAL CORPORATION
(Exact name of registrant as specified in its charter)
Delaware
22-3328734
(State of other jurisdiction of
(IRS Employer
incorporation or organization)
Identification No.)
100 Overlook Center, 2
nd
Floor
08540
(Address of principal executive offices)
(Zip Code)
(609) 498-7029
(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:
¨
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 1.01
Entry into a Material Definitive Agreement
On December 6, 2011 Carbonics Capital Corporation, a Delaware corporation ("
Carbonics
") issued to YA Global Investments, L.P., a Cayman Islands limited partnership ("
YA Global
") a Secured Convertible Debenture dated December 6, 2011 in the principal amount of $910,000 (the "
Debenture CICS-9
"). Debenture CICS-9 bears interest at the rate of 9% per annum, payable at maturity.  The maturity date for payment of Debenture CICS-9 is December 31, 2013.  The holder of Debenture CICS-9 is entitled to convert the principal and accrued interest on the debenture into common stock of Carbonics (the "
Common Stock
") at a conversion rate initially equal to (a) $0.003 (the "
Fixed Conversion Price
"), or (b) 90% of the lowest daily volume-weighted average price of the Common Stock ("
VWAP
") during the 10 consecutive trading days immediately preceding the conversion date or other date of determination, subject to adjustment as provided for in the debenture. The shares of Common Stock into which Debenture CICS-9 may be converted will not be registered for resale and shall be subject to the rights and restrictions of Rule 144.
In addition, on December 6, 2011, Carbonics also entered into Amendment No. 2, dated December 6, 2011 (the "
SPA Amendment No. 2
"), to the Securities Purchase Agreement dated as of August 17, 2010 entered into by and between Carbonics and YA Global ("
SPA
"). SPA Amendment No. 2 provided for the purchase and issuance of the Debenture CICS-9 pursuant to the terms of the SPA.
On December 6, 2011 Carbonics Capital Corporation, a Delaware corporation ("
Carbonics
") issued to YA Global Investments, L.P., a Cayman Islands limited partnership ("
YA Global
") a Secured Convertible Debenture dated December 6, 2011 in the principal amount of $172,411 (the "
Debenture CICS-10
"). Debenture CICS-10 bears interest at the rate of 9% per annum, payable at maturity.  The maturity date for payment of Debenture CICS-10 is December 31, 2013.  The holder of Debenture CICS-10 is entitled to convert the principal and accrued interest on the debenture into common stock of Carbonics (the "
Common Stock
") at a conversion rate initially equal to (a) $0.003 (the "
Fixed Conversion Price
"), or (b) 90% of the lowest daily volume-weighted average price of the Common Stock ("
VWAP
") during the 10 consecutive trading days immediately preceding the conversion date or other date of determination, subject to adjustment as provided for in the debenture. The shares of Common Stock into which Debenture CICS-10 may be converted will not be registered for resale and shall be subject to the rights and restrictions of Rule 144. Debenture CICS-10 was issued for consideration consisting solely of the surrender of three existing promissory notes issued by Carbonics to YA Global, which promissory notes had an outstanding balance as of December 6, 2011 equal to $172,411.
In addition, on December 6, 2011, Carbonics also entered into Amendment No. 3, dated December 6, 2011 (the "
SPA Amendment No. 3
"), to the Securities Purchase Agreement dated as of August 17, 2010 entered into by and between Carbonics and YA Global ("
SPA
"). SPA Amendment No. 3 provided for the purchase and issuance of the Debenture CICS-10 pursuant to the terms of the SPA.
The foregoing descriptions of the Debenture CICS-9, Debenture CICS-10, SPA Amendment No. 2 and SPA Amendment No. 3 do not purport to be complete and are qualified in their entirety by reference to the full text of the debentures and SPA amendments filed as Exhibits 10.1, 10.2, 10.3 and 10.4 hereto.
Item 9.01
Financial Statements and Exhibits
Exhibits
10.1
Secured Convertible Debenture dated December 6, 2011 in the principal amount of $910.00, with YA Global Investments L.P. as the "Holder" thereunder and Carbonics Capital Corporation as the "Company" thereunder.
10.2
Amendment No. 2 to Securities Purchase Agreement dated as of December 6, 2011 entered into by and between Carbonics Capital Corporation and YA Global Investments L.P.
10.3
Secured Convertible Debenture dated December 6, 2011 in the principal amount of $172,411, with YA Global Investments L.P. as the "Holder" thereunder and Carbonics Capital Corporation as the "Company" thereunder.
10.4
Amendment No. 3 to Securities Purchase Agreement dated as of December 6, 2011 entered into by and between Carbonics Capital Corporation and YA Global Investments L.P.
SIGNATURE
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 thereunto duly authorized.
Dated:  January 3, 2012
CARBONICS CAPITAL CORPORATION
By:
/s/ Stephen J. Schoepfer
Stephen J. Schoepfer, Chief Executive Officer