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<head><title>CLEARONE COMMUNICATIONS INC (Form: 8-K, Received: 12/29/2009 16:50:05)</title> </head> <body style="MARGIN-TOP:0px; FONT-FAMILY:Times New Roman; COLOR:#000000; FONT-SIZE:10pt"> <div style=WIDTH:768px> <hr size=1 noshade style="MARGIN-BOTTOM:9px; PADDING-TOP:9px"> <p style="PAGE-BREAK-BEFORE:always; MARGIN-TOP:11px; MARGIN-BOTTOM:0px">&nbsp;</p> <p style=MARGIN:0px align=center><b>UNITED STATES</b></p> <p style=MARGIN:0px align=center><b>SECURITIES AND EXCHANGE COMMISSION</b></p> <p style=MARGIN:0px align=center><b>WASHINGTON, D.C. 20549</b></p> <p style=MARGIN:0px align=justify>&nbsp;</p> <p style="MARGIN:0px; FONT-SIZE:16pt" align=center><b>FORM 8-K</b></p> <p style=MARGIN:0px align=justify>&nbsp;</p> <p style=MARGIN:0px align=center><b>CURRENT REPORT PURSUANT</b></p> <p style=MARGIN:0px align=center><b>TO SECTION 13 OR 15(D) OF</b></p> <p style=MARGIN:0px align=center><b>THE SECURITIES EXCHANGE ACT OF 1934</b></p> <p style=MARGIN:0px align=justify>&nbsp;</p> <p style=MARGIN:0px align=center>Date of report (Date of earliest event reported): <b><u>May 4, 2011</u></b></p> <p style=MARGIN:0px align=justify>&nbsp;</p><a name=FIS_UNIDENTIFIED_TABLE /> <p style=MARGIN:0px><br></p> <p style="MARGIN:0px; FONT-SIZE:16pt" align=center><b><u>ClearOne Communications, Inc.</u></b></p> <p style=MARGIN:0px align=center>(Exact Name of Registrant as Specified in Its Charter)</p> <p style=MARGIN:0px align=justify>&nbsp;</p> <p style=MARGIN:0px align=center><b><u>Utah</u></b></p> <p style=MARGIN:0px align=center>(State or Other Jurisdiction of Incorporation)</p> <p style=MARGIN:0px><br></p> <table style="MARGIN-TOP:0px; FONT-SIZE:10pt" cellpadding=0 cellspacing=0 align=center> <tr height=0 style=FONT-SIZE:0px> <td width=383> <td width=39> <td width=345 /> <tr> <td width=383 style="BORDER-BOTTOM:#000000 2px solid; MARGIN-TOP:0px" valign=top> <p style="MARGIN:0px; PADDING-RIGHT:1px" align=center><b>001-33660</b></p></td> <td width=39 style=MARGIN-TOP:0px valign=top> <p style="MARGIN:0px; PADDING-RIGHT:1px"><b>&nbsp;</b></p></td> <td width=345 style="BORDER-BOTTOM:#000000 2px solid; MARGIN-TOP:0px" valign=top> <p style="MARGIN:0px; PADDING-RIGHT:1px" align=center><b>87-0398877</b></p></td></tr> <tr> <td width=383 style=MARGIN-TOP:0px valign=top> <p style="MARGIN:0px; PADDING-RIGHT:1px" align=center><b>(Commission File Number)</b></p></td> <td width=39 style=MARGIN-TOP:0px valign=top> <p style="MARGIN:0px; PADDING-RIGHT:1px"><b>&nbsp;</b></p></td> <td width=345 style=MARGIN-TOP:0px valign=top> <p style="MARGIN:0px; PADDING-RIGHT:1px" align=center><b>(I.R.S. employer</b></p> <p style="MARGIN:0px; PADDING-RIGHT:1px" align=center><b>identification number)</b></p></td></tr></table> <p style=MARGIN:0px align=center><br></p> <table style="MARGIN-TOP:0px; FONT-SIZE:10pt" cellpadding=0 cellspacing=0 align=center> <tr height=0 style=FONT-SIZE:0px> <td width=554> <td width=33> <td width=180 /> <tr> <td width=554 style="BORDER-BOTTOM:#000000 2px solid; MARGIN-TOP:0px" valign=top> <p style="MARGIN:0px; PADDING-RIGHT:1px" align=center><b>5225 Wiley Post Way, Suite 500<a name=FIS_UNIDENTIFIED_TABLE_2 /></b></p> <p style="MARGIN:0px; PADDING-RIGHT:1px" align=center><b>Salt Lake City, Utah</b></p></td> <td width=33 style=MARGIN-TOP:0px valign=top> <p style="MARGIN:0px; PADDING-RIGHT:1px"><b>&nbsp;</b></p></td> <td width=180 style="BORDER-BOTTOM:#000000 2px solid; MARGIN-TOP:0px" valign=top> <p style="MARGIN:0px; PADDING-RIGHT:1px" align=center><b>&nbsp;</b></p> <p style="MARGIN:0px; PADDING-RIGHT:1px" align=center><b>84116</b></p></td></tr> <tr> <td width=554 style=MARGIN-TOP:0px valign=top> <p style="MARGIN:0px; PADDING-RIGHT:1px" align=center><b>(Address of principal executive offices)</b></p></td> <td width=33 style=MARGIN-TOP:0px valign=top> <p style="MARGIN:0px; PADDING-RIGHT:1px"><b>&nbsp;</b></p></td> <td width=180 style=MARGIN-TOP:0px valign=top> <p style="MARGIN:0px; PADDING-RIGHT:1px" align=center><b>(Zip Code)</b></p></td></tr></table> <p style=MARGIN:0px align=center><br></p> <p style=MARGIN:0px align=center><br></p> <p style=MARGIN:0px align=center><b><u>(801) 975-7200</u></b></p> <p style=MARGIN:0px align=center>(Registrant<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#146;</font>s Telephone Number, Including Area Code)</p> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px align=center><b><u>Not applicable</u></b></p> <p style=MARGIN:0px align=center>(Former Name or Former Address, if Changed Since Last Report)</p> <p style=MARGIN:0px align=justify>&nbsp;</p> <p style=MARGIN:0px>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:</p> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px>[&nbsp;&nbsp;&nbsp;]&nbsp;&nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</p> <p style=MARGIN:0px>[&nbsp;&nbsp;&nbsp;]&nbsp;&nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</p> <p style=MARGIN:0px>[&nbsp;&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</p> <p style=MARGIN:0px>[&nbsp;&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communication pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) <a name=FIS_ENTRY_MATERIAL_AGREEMENT /></p> <p style=MARGIN:0px><br><br></p> <hr size=1 noshade style="MARGIN-BOTTOM:9px; PADDING-TOP:9px"> <a name=_Aci_Pg1 /> <p style="PAGE-BREAK-BEFORE:always; MARGIN:0px"><br></p> <table style="MARGIN-TOP:0px; FONT-SIZE:10pt" cellpadding=0 cellspacing=0 align=center> <tr height=0 style=FONT-SIZE:0px> <td width=97> <td width=670 /> <tr> <td width=97 style=MARGIN-TOP:0px valign=top> <p style="MARGIN:0px; PADDING-RIGHT:1px"><b>Item 1.02</b></p></td> <td width=670 style=MARGIN-TOP:0px valign=top> <p style="MARGIN:0px; PADDING-RIGHT:1px" align=justify><b>Termination of a Material Definitive Agreement.</b></p></td></tr></table> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px align=justify>In connection with the closing of the NetStreams, Inc. acquisition, on November&nbsp;3, 2009, we entered into a Joinder to the Loan and Security Agreement (the &#147;Joinder&#148;) with Square 1 Bank (the &#147;Bank&#148;), and became an additional borrower under the Loan and Security Agreement dated November 12, 2008, as amended (the &#147;Loan Agreement&#148;), by and between the Bank, and NetStreams, Inc. and NetStreams, LLC (collectively, &#147;NetStreams&#148;). &nbsp;Under the terms of the Joinder, we assumed the liability of NetStreams under the Loan Agreement in the amount of $2,000,000, which we repaid in March 2010. &nbsp;As of May 4, 2011, we and the Bank terminated the Loan Agreement and the Joinder and we repaid all remaining outstanding obligations, which consisted solely of the Bank<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#146;</font>s expenses in connection with the restructuring of the loan facility and amending and restating the Loan Agreement, and termination of all security interests and liens held by the Bank under the Loan Agreement. &nbsp;In connection with our repayment of the remaining outstanding obligations, all of our indebtedness and obligations to the Bank were discharged in full and the Bank will terminate all security interests and other liens held as security under the Loan Agreement. &nbsp;A description of the terms and conditions of the Joinder and the Loan Agreement appears in our Current Report on Form 8-K filed on November 9, 2009, and is incorporated herein by reference. </p> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px align=center><b>SIGNATURES</b></p> <p style=MARGIN:0px align=justify>&nbsp;</p> <p style=MARGIN:0px>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=MARGIN:0px align=justify>&nbsp;</p> <table style="MARGIN-TOP:0px; FONT-SIZE:10pt" cellpadding=0 cellspacing=0 align=center> <tr height=0 style=FONT-SIZE:0px> <td width=290> <td width=477 /> <tr> <td width=290 style=MARGIN-TOP:0px valign=top> <p style="MARGIN:0px; PADDING-RIGHT:1px">&nbsp;</p></td> <td width=477 style=MARGIN-TOP:0px valign=top> <p style="MARGIN:0px; PADDING-RIGHT:2px" align=justify>CLEARONE COMMUNICATIONS, INC.</p></td></tr></table> <table style="MARGIN-TOP:0px; FONT-SIZE:10pt" cellpadding=0 cellspacing=0 align=center> <tr height=0 style=FONT-SIZE:0px> <td width=290> <td width=52> <td width=424 /> <tr> <td width=290 style=MARGIN-TOP:0px valign=top> <p style="MARGIN:0px; PADDING-RIGHT:1px; FONT-SIZE:12pt">&nbsp;</p></td> <td width=52 style=MARGIN-TOP:0px valign=top> <p style="MARGIN:0px; PADDING-RIGHT:1px">&nbsp;</p></td> <td width=424 style=MARGIN-TOP:0px valign=top> <p style="MARGIN:0px; PADDING-RIGHT:1px">&nbsp;</p></td></tr> <tr> <td width=290 style=MARGIN-TOP:0px valign=top> <p style="MARGIN:0px; PADDING-RIGHT:1px">&nbsp;</p></td> <td width=52 style=MARGIN-TOP:0px valign=top> <p style="MARGIN:0px; PADDING-RIGHT:1px">&nbsp;</p></td> <td width=424 style=MARGIN-TOP:0px valign=top> <p style="MARGIN:0px; PADDING-RIGHT:1px">&nbsp;</p></td></tr> <tr> <td width=290 style=MARGIN-TOP:0px valign=top> <p style="MARGIN:0px; PADDING-RIGHT:1px">&nbsp;</p></td> <td width=52 style=MARGIN-TOP:0px valign=top> <p style="MARGIN:0px; PADDING-RIGHT:1px">&nbsp;</p></td> <td width=424 style=MARGIN-TOP:0px valign=top> <p style="MARGIN:0px; PADDING-RIGHT:1px">&nbsp;</p></td></tr> <tr> <td width=290 style=MARGIN-TOP:0px valign=top> <p style="MARGIN:0px; PADDING-RIGHT:1px" align=justify>Date:&nbsp;&nbsp;May 10, 2011</p></td> <td width=52 style=MARGIN-TOP:0px valign=top> <p style="MARGIN:0px; PADDING-RIGHT:1px" align=justify>By:</p></td> <td width=424 style="BORDER-BOTTOM:#000000 2px solid; MARGIN-TOP:0px" valign=top> <p style="MARGIN:0px; PADDING-RIGHT:1px" align=justify>/s/ Zeynep Hakimoglu</p></td></tr> <tr> <td width=290 style=MARGIN-TOP:0px valign=top> <p style="MARGIN:0px; PADDING-RIGHT:1px">&nbsp;</p></td> <td width=52 style=MARGIN-TOP:0px valign=top> <p style="MARGIN:0px; PADDING-RIGHT:1px">&nbsp;</p></td> <td width=424 style=MARGIN-TOP:0px valign=top> <p style="MARGIN:0px; PADDING-RIGHT:1px" align=justify>Zeynep Hakimoglu</p></td></tr> <tr> <td width=290 style=MARGIN-TOP:0px valign=top> <p style="MARGIN:0px; PADDING-RIGHT:1px">&nbsp;</p></td> <td width=52 style=MARGIN-TOP:0px valign=top> <p style="MARGIN:0px; PADDING-RIGHT:1px">&nbsp;</p></td> <td width=424 style=MARGIN-TOP:0px valign=top> <p style="MARGIN:0px; PADDING-RIGHT:1px" align=justify>Chief Executive Officer</p></td></tr> <tr> <td width=290 style=MARGIN-TOP:0px valign=top> <p style="MARGIN:0px; PADDING-RIGHT:1px">&nbsp;</p></td> <td width=52 style=MARGIN-TOP:0px valign=top> <p style="MARGIN:0px; PADDING-RIGHT:1px">&nbsp;</p></td> <td width=424 style=MARGIN-TOP:0px valign=top> <p style="MARGIN:0px; PADDING-RIGHT:1px">&nbsp;</p></td></tr></table> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px><br><br></p> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px><br></p></div></body>
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CLEARONE COMMUNICATIONS INC (Form: 8-K, Received: 12/29/2009 16:50:05)
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 4, 2011
ClearOne Communications, Inc.
(Exact Name of Registrant as Specified in Its Charter)
Utah
(State or Other Jurisdiction of Incorporation)
001-33660
87-0398877
(Commission File Number)
(I.R.S. employer
identification number)
5225 Wiley Post Way, Suite 500
Salt Lake City, Utah
84116
(Address of principal executive offices)
(Zip Code)
(801) 975-7200
(Registrant
'
s Telephone Number, Including Area Code)
Not applicable
(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:
[   ]  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 communication pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 1.02
Termination of a Material Definitive Agreement.
In connection with the closing of the NetStreams, Inc. acquisition, on November 3, 2009, we entered into a Joinder to the Loan and Security Agreement (the "Joinder") with Square 1 Bank (the "Bank"), and became an additional borrower under the Loan and Security Agreement dated November 12, 2008, as amended (the "Loan Agreement"), by and between the Bank, and NetStreams, Inc. and NetStreams, LLC (collectively, "NetStreams").  Under the terms of the Joinder, we assumed the liability of NetStreams under the Loan Agreement in the amount of $2,000,000, which we repaid in March 2010.  As of May 4, 2011, we and the Bank terminated the Loan Agreement and the Joinder and we repaid all remaining outstanding obligations, which consisted solely of the Bank
'
s expenses in connection with the restructuring of the loan facility and amending and restating the Loan Agreement, and termination of all security interests and liens held by the Bank under the Loan Agreement.  In connection with our repayment of the remaining outstanding obligations, all of our indebtedness and obligations to the Bank were discharged in full and the Bank will terminate all security interests and other liens held as security under the Loan Agreement.  A description of the terms and conditions of the Joinder and the Loan Agreement appears in our Current Report on Form 8-K filed on November 9, 2009, and is incorporated herein by reference.
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.
CLEARONE COMMUNICATIONS, INC.
Date:  May 10, 2011
By:
/s/ Zeynep Hakimoglu
Zeynep Hakimoglu
Chief Executive Officer