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

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

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Pursuant to Section 13 OR 15(d) of The
Securities Exchange Act of 1934</B></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):<B>
August 22, 2012</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&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: 100%; border-bottom: black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">BOLDFACE GROUP, INC.</TD></TR>
</TABLE>
<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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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 30%; border-bottom: black 1pt solid; font-weight: bold; text-align: center">Nevada</TD>
    <TD STYLE="width: 1%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 30%; border-bottom: black 1pt solid; font-weight: bold; text-align: center">333-148722</TD>
    <TD STYLE="width: 1%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 38%; border-bottom: black 1pt solid; font-weight: bold; text-align: center">02-0811868</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(State or other jurisdiction of</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">incorporation)</P></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">(Commission File Number)</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">(IRS Employer Identification No.)</TD></TR>
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<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"><B>1309 Pico Blvd., Suite A</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Santa Monica, CA 90405&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Address of principal executive offices)
(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"><B>(310) 450-4501</B></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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Former name or former address, if changed
since last report)</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 if the
Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions
(<I>see</I> General Instruction A.2. below):</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"></P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 1%; font: 10pt Wingdings 2">&pound;</TD>
    <TD STYLE="width: 99%; font-size: 10pt; text-align: justify">&nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</TD></TR>
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    <TD STYLE="width: 1%; font: 10pt Wingdings 2">&pound;</TD>
    <TD STYLE="width: 99%; font-size: 10pt; text-align: justify">&nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</TD></TR>
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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 1%; font: 10pt Wingdings 2">&pound;</TD>
    <TD STYLE="width: 99%; font-size: 10pt; text-align: justify">&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 1%; font: 10pt Wingdings 2">&pound;</TD>
    <TD STYLE="width: 99%; font-size: 10pt; text-align: justify">&nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<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"><B>Item 5.02 Departure of Directors or Certain Officers; Election
of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.</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: justify; text-indent: 0.25in">(e) On August 22,
2012, the Board of Directors (the &ldquo;Board&rdquo;) of BOLDFACE Group, Inc. (the &ldquo;Company&rdquo;) approved the grant of
stock option awards to certain employees and consultants of the Company (the &ldquo;Options&rdquo;), including to its named executive
officers, in the amounts set forth, and effective as of each respective grant date, as follows:</P>

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

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    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Named Executive Officer</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Stock&nbsp;Options<BR> Granted <BR>(&ldquo;2012 Options&rdquo;)</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Grant <BR>Date <BR>(&ldquo;2012 Grant Date&rdquo;)</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Stock&nbsp;Options<BR> To Be Granted <BR>(&ldquo;2013 Options&rdquo;)</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Grant <BR>Date <BR>(&ldquo;2013 Grant Date&rdquo;)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 25%; font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 10pt; text-indent: -10pt">Nicole Ostoya, <BR>Chief Executive Officer, President and Director</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 15%; font-size: 10pt; text-align: center; vertical-align: top">1,800,000</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 16%; font-size: 10pt; text-align: center; padding-left: 5.4pt; vertical-align: top">July 12, 2012</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: center; vertical-align: top">5,700,000</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 16%; font-size: 10pt; text-align: center; padding-left: 5.4pt; vertical-align: top">July 12, 2013</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 10pt; text-indent: -10pt">Ashumi Kothary, <BR>Chief Financial Officer</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: center; vertical-align: top">350,000</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center; padding-left: 5.4pt; vertical-align: top">August 15, 2012</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: center; vertical-align: top">1,150,000</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center; padding-left: 5.4pt; vertical-align: top">August 15, 2013</TD></TR>
</TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The 2012 Options granted
to Ms. Ostoya are five (5)&nbsp;year options to purchase shares of the Company&rsquo;s common stock, $0.001 par value per share
(the &ldquo;Common Stock&rdquo;) and the 2012 Options granted to Ms. Kothary are ten (10)&nbsp;year options to purchase shares
of the Company&rsquo;s Common Stock. All of the 2012 Options will have an exercise price of $0.24 per share and are intended to
be incentive stock options for tax purposes. The 2012 Options will vest and become exercisable annually at a rate of 33.33% beginning
on the first anniversary date of the applicable 2012 Grant Date, in each case, if the named executive officer remains employed
by the Company or any of its subsidiaries on each annual vesting date. Notwithstanding the foregoing,<FONT STYLE="font-size: 10pt">
</FONT>if the applicable holder becomes disabled (within the meaning of Section 22(e)(3) of the Internal Revenue Code) or dies
prior to the final exercise date of the 2012 Options or if the applicable holder&rsquo;s continued employment with the Company
terminates within 12 months following the effective date of a Change in Control of the Company (as defined in the Company&rsquo;s
2012 Equity Incentive Plan (the &ldquo;2012 Plan&rdquo;)), other than a termination due to the willful misconduct of the holder
or the willful failure by the holder to perform his or her responsibilities to the Company, the vesting of the shares subject to
the applicable option will be accelerated so that all of the 2012 Options held by such holder that have not yet vested as of such
date of death, date of disability or termination date (as applicable) will vest immediately. Payment of the exercise price may
be made in cash, by certified or cashier&rsquo;s check or on a cashless basis.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Assuming such employees
and consultants of the Company, including these named executive officers, will be employed by the Company or any of its subsidiaries
at such time, the Board also agreed to grant Options in 2013 to such employees and consultants of the Company. The 2013 Options
to be granted to these named executive officers on the applicable grant date will be made on substantially the same terms as the
2012 Options granted to them, except that the 2013 Options will have an exercise price per share equal to the fair market value
of the shares of the Company&rsquo;s Common Stock on such grant date (as will be determined by the Board as of the date of the
applicable grant) and will vest and become exercisable annually at a rate of 33.33% beginning on the first anniversary date of
the applicable 2013 Grant Date, in each case, if the named executive officer remains employed by the Company or any of its subsidiaries
on each annual vesting date, and with respect to the 2013 Options to be granted to Ms. Ostoya, subject to Company performance conditions
and/or milestones as may reasonably be established by the Board and to such other customary and reasonable terms determined by
the Board.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Ms. Ostoya&rsquo;s
grants were made and will be made pursuant to the terms of her employment agreement, previously filed as an exhibit to the Company&rsquo;s
Current Report on Form 8-K (File No. 333-148722), which was filed with the U.S. Securities and Exchange Commission (the &ldquo;SEC&rdquo;)
on July 18, 2012 (the &ldquo;Super 8-K&rdquo;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The Options were granted
and will be granted under and in accordance with the terms and conditions of the 2012 Plan, previously filed on July 18, 2012 with
the SEC as an exhibit to the Company&rsquo;s Super 8-K, and pursuant to the Company&rsquo;s standard form of Incentive Stock Option
Agreement and standard form of Non-Statutory Stock Option Agreement. <FONT STYLE="color: black">In connection with the grants of
the Options, the Board also approved </FONT>such forms of Incentive Stock Option Agreement and Non-Statutory Stock Option Agreement,
which will be filed with the SEC as exhibits to the Company&rsquo;s Quarterly Report on Form 10-Q for the fiscal quarter ending
September 30, 2012.</P>

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

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<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">&nbsp;<B>SIGNATURES</B></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">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">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>Date:&nbsp; August 23, 2012</TD>
    <TD COLSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>BOLDFACE GROUP, INC.</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 52%">&nbsp;</TD>
    <TD STYLE="width: 5%">By:</TD>
    <TD STYLE="width: 43%; border-bottom: black 1pt solid">/s/<I> Ashumi Kothary</I></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">Name:&nbsp; Ashumi Kothary</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">Title:&nbsp;&nbsp; Chief Financial Officer</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="margin: 0"></P>

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{"company-data": {"conformed-name": "BOLDFACE GROUP, INC.", "cik": "0001423107", "assigned-sic": "7389", "irs-number": "020811868", "state-of-incorporation": "NV", "fiscal-year-end": "0930"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "333-148722", "film-number": "121052589"}, "business-address": {"street1": "50 BROMPTON ROAD", "street2": "APT 1X", "city": "GREAT NECK", "state": "NY", "zip": "11201", "phone": "646 303-6840"}, "mail-address": {"street1": "50 BROMPTON ROAD", "street2": "APT 1X", "city": "GREAT NECK", "state": "NY", "zip": "11201"}, "former-company": {"former-conformed-name": "Max Cash Media Inc", "date-changed": "20080108"}}
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):
August 22, 2012
BOLDFACE GROUP, INC.
(Exact name of registrant as specified in
its charter)
Nevada
333-148722
02-0811868
(State or other jurisdiction of
incorporation)
(Commission File Number)
(IRS Employer Identification No.)
1309 Pico Blvd., Suite A
Santa Monica, CA 90405
(Address of principal executive offices)
(Zip Code)
(310) 450-4501
(Registrant's telephone number, including
area code)
(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 5.02 Departure of Directors or Certain Officers; Election
of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(e) On August 22,
2012, the Board of Directors (the "Board") of BOLDFACE Group, Inc. (the "Company") approved the grant of
stock option awards to certain employees and consultants of the Company (the "Options"), including to its named executive
officers, in the amounts set forth, and effective as of each respective grant date, as follows:
Named Executive Officer
Stock Options
Granted
("2012 Options")
Grant
Date
("2012 Grant Date")
Stock Options
To Be Granted
("2013 Options")
Grant
Date
("2013 Grant Date")
Nicole Ostoya,
Chief Executive Officer, President and Director
1,800,000
July 12, 2012
5,700,000
July 12, 2013
Ashumi Kothary,
Chief Financial Officer
350,000
August 15, 2012
1,150,000
August 15, 2013
The 2012 Options granted
to Ms. Ostoya are five (5) year options to purchase shares of the Company's common stock, $0.001 par value per share
(the "Common Stock") and the 2012 Options granted to Ms. Kothary are ten (10) year options to purchase shares
of the Company's Common Stock. All of the 2012 Options will have an exercise price of $0.24 per share and are intended to
be incentive stock options for tax purposes. The 2012 Options will vest and become exercisable annually at a rate of 33.33% beginning
on the first anniversary date of the applicable 2012 Grant Date, in each case, if the named executive officer remains employed
by the Company or any of its subsidiaries on each annual vesting date. Notwithstanding the foregoing,
if the applicable holder becomes disabled (within the meaning of Section 22(e)(3) of the Internal Revenue Code) or dies
prior to the final exercise date of the 2012 Options or if the applicable holder's continued employment with the Company
terminates within 12 months following the effective date of a Change in Control of the Company (as defined in the Company's
2012 Equity Incentive Plan (the "2012 Plan")), other than a termination due to the willful misconduct of the holder
or the willful failure by the holder to perform his or her responsibilities to the Company, the vesting of the shares subject to
the applicable option will be accelerated so that all of the 2012 Options held by such holder that have not yet vested as of such
date of death, date of disability or termination date (as applicable) will vest immediately. Payment of the exercise price may
be made in cash, by certified or cashier's check or on a cashless basis.
Assuming such employees
and consultants of the Company, including these named executive officers, will be employed by the Company or any of its subsidiaries
at such time, the Board also agreed to grant Options in 2013 to such employees and consultants of the Company. The 2013 Options
to be granted to these named executive officers on the applicable grant date will be made on substantially the same terms as the
2012 Options granted to them, except that the 2013 Options will have an exercise price per share equal to the fair market value
of the shares of the Company's Common Stock on such grant date (as will be determined by the Board as of the date of the
applicable grant) and will vest and become exercisable annually at a rate of 33.33% beginning on the first anniversary date of
the applicable 2013 Grant Date, in each case, if the named executive officer remains employed by the Company or any of its subsidiaries
on each annual vesting date, and with respect to the 2013 Options to be granted to Ms. Ostoya, subject to Company performance conditions
and/or milestones as may reasonably be established by the Board and to such other customary and reasonable terms determined by
the Board.
Ms. Ostoya's
grants were made and will be made pursuant to the terms of her employment agreement, previously filed as an exhibit to the Company's
Current Report on Form 8-K (File No. 333-148722), which was filed with the U.S. Securities and Exchange Commission (the "SEC")
on July 18, 2012 (the "Super 8-K").
The Options were granted
and will be granted under and in accordance with the terms and conditions of the 2012 Plan, previously filed on July 18, 2012 with
the SEC as an exhibit to the Company's Super 8-K, and pursuant to the Company's standard form of Incentive Stock Option
Agreement and standard form of Non-Statutory Stock Option Agreement.
In connection with the grants of
the Options, the Board also approved
such forms of Incentive Stock Option Agreement and Non-Statutory Stock Option Agreement,
which will be filed with the SEC as exhibits to the Company's Quarterly Report on Form 10-Q for the fiscal quarter ending
September 30, 2012.
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.
Date:  August 23, 2012
BOLDFACE GROUP, INC.
By:
/s/
Ashumi Kothary
Name:  Ashumi Kothary
Title:   Chief Financial Officer