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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">UNITED STATES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SECURITIES AND EXCHANGE COMMISSION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Washington, D.C. 20549</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">FORM 8-K</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">CURRENT REPORT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Date of Report (Date of earliest event reported):
May 28, 2012</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">NET TALK.COM, INC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact Name of Registrant as Specified in
its Charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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    <TD STYLE="width: 33%; text-align: center">Florida</TD>
    <TD STYLE="width: 34%; text-align: center">000-53668</TD>
    <TD STYLE="width: 33%; text-align: center">20-4830633</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">(State of Incorporation)</TD>
    <TD STYLE="text-align: center">(Commission File Number)</TD>
    <TD STYLE="text-align: center">(IRS Employer</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">Identification Number)</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">1100 NW 163<SUP>rd</SUP> Drive, No. Miami
Beach, Florida 33169</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Address of principal executive offices)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Zip
code)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(305) 621-1200</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Registrant&rsquo;s Telephone Number, Including
Area Code)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Check the appropriate box below of the
Form 8-K if the filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following
provisions (see General instruction A.2. below):</P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD><TD>Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</TD></TR></TABLE>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD><TD>Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</TD></TR></TABLE>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD><TD>Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2)(b)</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD><TD>Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)).</TD></TR></TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 1in; text-align: left"><B>ITEM 2.03</B></TD><TD STYLE="text-align: justify"><B>CREATION
                                                                                          OF A DIRECT FINANCIAL OBLIGATION OR
                                                                                          AN OBLIGATION UNDER AN OFF-BALANCE SHEET
                                                                                          ARRANGEMENT OF A REGISTRANT.</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -1in">&nbsp;<B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On May 28, 2012, Net Talk.com, Inc. (the
&ldquo;Company&rdquo;) issued to an institutional accredited investor a 10% Senior Secured Debenture,<FONT STYLE="color: windowtext">
due June 30, 2012</FONT>. The 10% Senior Secured Debenture provides for total advances of up to $550,000 to be made to the Company.
<FONT STYLE="color: windowtext">The 10% Senior Secured Debenture, among other matters, accrues interest at 10% per annum, is payable
in full on June 30, 2012, is secured by all of the assets of the Registrant, and provides for a default rate of interest of no
less than 18% upon an event of default.</FONT> Proceeds from the debenture will be used for marketing and general working capital.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 1in; text-align: left"><B>ITEM 3.02</B></TD><TD STYLE="text-align: justify"><B>UNREGISTERED SALE OF EQUITY AND SECURITIES</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On June 15, 2011, the Company adopted the
2011 Stock Option Plan (the &ldquo;2011 Plan&rdquo;) which was adopted to <FONT STYLE="color: black">advance the Company&rsquo;s
interests by enhancing the Company&rsquo;s ability to attract and retain valuable employees, officers, directors and consultants
by providing such persons with equity ownership opportunities and performance-based incentives and thereby better aligning the
interests of such persons with those of the Company&rsquo;s shareholders</FONT>. <FONT STYLE="color: black">All of the Company&rsquo;s
employees, officers, and directors, and those consultants and advisors of the Company that (i) are natural persons and (ii) provide
bona fide services to the Company not connected to a capital raising transaction or the promotion or creation of a market for the
Company&rsquo;s securities,&nbsp;were eligible to be granted options or restricted stock awards under the 2011 Plan</FONT>. The
maximum aggregate number of shares of the Company&rsquo;s common stock that were available to be issued under the 2011 Plan was
20,000,000 shares of the Company&rsquo;s common stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On May 28, 2012, the Company&rsquo;s Board
of Directors (the &ldquo;Board&rdquo;) approved and issued 15,488,000 shares of the Company&rsquo;s common stock under the Company&rsquo;s
2011 Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The shares were issued to officers and
employees as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 70%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 33%; text-align: justify">Anastasios Kyriakides</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 15%; text-align: right">12,000,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 48%; text-align: justify">Director/officer</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Kenneth Hosfeld</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">33,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">Director/officer</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: justify">Guillermo Rodriguez</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">33,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">Director/officer</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Nick Kyriakides</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">33,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">Officer</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: justify; padding-bottom: 2.5pt">George Gabb</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">1,000</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; padding-bottom: 2.5pt">Director</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Sub &ndash; total</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">12,100,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: justify; padding-bottom: 1pt">All others</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">3,388,000</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; padding-bottom: 1pt">Employees and consultant</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 2.5pt">Total</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">15,488,000</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; padding-bottom: 2.5pt">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Shares were issued by the Company in
reliance on the exemption from registration provided by Section&nbsp;4(2)&nbsp;of the Securities Act of 1933, as amended.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 1in; text-align: left"><B>ITEM 5.02</B></TD><TD STYLE="text-align: justify"><B>ELECTION OF DIRECTOR; ADOPTION OF 2012 STOCK OPTION
PLAN</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
May 28, 2012, the Board elected to increase the number of members of the Company&rsquo;s Board from four directors to five directors.
The Board appointed and elected Mr. Shad Stastney to fill the vacancy on the Board created by that increase. There is no arrangement,
understanding or any material plan, contract or arrangement regarding Mr. Stastney that requires disclosure. Mr. Stastney has not
been appointed to any committee. <FONT STYLE="color: black">Mr. Stastney will serve on the Board until the next annual meeting
of shareholders, or until his successor is duly elected and seated.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(e) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
May 28, 2012, the Company created, adopted and implemented its 2012 Employee Stock Option Plan (the &ldquo;2012 Plan&rdquo;). The
purpose of the 2012 Plan is to advance the interest of our shareholders by enhancing our ability to attract, retain and motivate
our employees who make important contributions by providing those employees with equity ownership opportunities and performance
&ndash; based incentives.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>ITEM 9.01 &nbsp;Exhibits</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The following exhibits are filed with this Form 8-K:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 10%; border-bottom: windowtext 1pt solid">Exhibit No.</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 88%; border-bottom: windowtext 1pt solid">Description</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.1</TD>
    <TD>&nbsp;</TD>
    <TD>10% Senior Secured Debenture due June 30, 2012</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.2</TD>
    <TD>&nbsp;</TD>
    <TD>Net Talk.com, Inc. 2012 Employee Stock Option Plan.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SIGNATURE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold">Net Talk.com, Inc.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 51%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 7%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 42%; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold"><B>By: </B></TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; font-weight: bold">/s/ Anastasios Kyriakides</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold"><B>Name: </B></TD>
    <TD STYLE="font-weight: bold"><B>Anastasios Kyriakides</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold">Title:</TD>
    <TD STYLE="font-weight: bold"><B>Chief Executive Officer</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold"><B>Dated:</B></TD>
    <TD STYLE="font-weight: bold">June 6, 2012</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

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{"company-data": {"conformed-name": "NET TALK.COM, INC.", "cik": "0001383825", "assigned-sic": "4899", "irs-number": "204830633", "state-of-incorporation": "FL", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-53668", "film-number": "12890815"}, "business-address": {"street1": "1100 NW 163 DR", "street2": "SUITE B-4", "city": "NO. MIAMI", "state": "FL", "zip": "33169", "phone": "305-621-1200"}, "mail-address": {"street1": "1100 NW 163 DR", "street2": "SUITE B-4", "city": "NO. MIAMI", "state": "FL", "zip": "33169"}, "former-company": {"former-conformed-name": "DISCOVER SCREENS INC", "date-changed": "20061215"}}
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):
May 28, 2012
NET TALK.COM, INC.
(Exact Name of Registrant as Specified in
its Charter)
Florida
000-53668
20-4830633
(State of Incorporation)
(Commission File Number)
(IRS Employer
Identification Number)
1100 NW 163
rd
Drive, No. Miami
Beach, Florida 33169
(Address of principal executive offices)       (Zip
code)
(305) 621-1200
(Registrant's Telephone Number, Including
Area Code)
Check the appropriate box below of the
Form 8-K if the 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 2.03
CREATION
                                                                                          OF A DIRECT FINANCIAL OBLIGATION OR
                                                                                          AN OBLIGATION UNDER AN OFF-BALANCE SHEET
                                                                                          ARRANGEMENT OF A REGISTRANT.
On May 28, 2012, Net Talk.com, Inc. (the
"Company") issued to an institutional accredited investor a 10% Senior Secured Debenture,
due June 30, 2012
. The 10% Senior Secured Debenture provides for total advances of up to $550,000 to be made to the Company.
The 10% Senior Secured Debenture, among other matters, accrues interest at 10% per annum, is payable
in full on June 30, 2012, is secured by all of the assets of the Registrant, and provides for a default rate of interest of no
less than 18% upon an event of default.
Proceeds from the debenture will be used for marketing and general working capital.
ITEM 3.02
UNREGISTERED SALE OF EQUITY AND SECURITIES
On June 15, 2011, the Company adopted the
2011 Stock Option Plan (the "2011 Plan") which was adopted to
advance the Company's
interests by enhancing the Company's ability to attract and retain valuable employees, officers, directors and consultants
by providing such persons with equity ownership opportunities and performance-based incentives and thereby better aligning the
interests of such persons with those of the Company's shareholders
.
All of the Company's
employees, officers, and directors, and those consultants and advisors of the Company that (i) are natural persons and (ii) provide
bona fide services to the Company not connected to a capital raising transaction or the promotion or creation of a market for the
Company's securities, were eligible to be granted options or restricted stock awards under the 2011 Plan
. The
maximum aggregate number of shares of the Company's common stock that were available to be issued under the 2011 Plan was
20,000,000 shares of the Company's common stock.
On May 28, 2012, the Company's Board
of Directors (the "Board") approved and issued 15,488,000 shares of the Company's common stock under the Company's
2011 Plan.
The shares were issued to officers and
employees as follows:
Anastasios Kyriakides
12,000,000
Director/officer
Kenneth Hosfeld
33,000
Director/officer
Guillermo Rodriguez
33,000
Director/officer
Nick Kyriakides
33,000
Officer
George Gabb
1,000
Director
Sub – total
12,100,000
All others
3,388,000
Employees and consultant
Total
15,488,000
The Shares were issued by the Company in
reliance on the exemption from registration provided by Section 4(2) of the Securities Act of 1933, as amended.
ITEM 5.02
ELECTION OF DIRECTOR; ADOPTION OF 2012 STOCK OPTION
PLAN
(d)          On
May 28, 2012, the Board elected to increase the number of members of the Company's Board from four directors to five directors.
The Board appointed and elected Mr. Shad Stastney to fill the vacancy on the Board created by that increase. There is no arrangement,
understanding or any material plan, contract or arrangement regarding Mr. Stastney that requires disclosure. Mr. Stastney has not
been appointed to any committee.
Mr. Stastney will serve on the Board until the next annual meeting
of shareholders, or until his successor is duly elected and seated.
(e)          On
May 28, 2012, the Company created, adopted and implemented its 2012 Employee Stock Option Plan (the "2012 Plan"). The
purpose of the 2012 Plan is to advance the interest of our shareholders by enhancing our ability to attract, retain and motivate
our employees who make important contributions by providing those employees with equity ownership opportunities and performance
– based incentives.
ITEM 9.01  Exhibits
The following exhibits are filed with this Form 8-K:
Exhibit No.
Description
10.1
10% Senior Secured Debenture due June 30, 2012
10.2
Net Talk.com, Inc. 2012 Employee Stock Option Plan.
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 hereunto duly authorized.
Net Talk.com, Inc.
By:
/s/ Anastasios Kyriakides
Name:
Anastasios Kyriakides
Title:
Chief Executive Officer
Dated:
June 6, 2012