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<head><title>Filed by Ched Corporate Solutions - www.chedcorp.com - 1-888-567-CHED (2433) - Development Capital - Form 8-K</title> </head> <body style="FONT-SIZE:10pt; FONT-FAMILY:Times New Roman; COLOR:#000000; MARGIN-TOP:0px"> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center><b><font style=FONT-SIZE:16pt>UNITED STATES</font></b></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center><b><font style=FONT-SIZE:16pt>SECURITIES AND EXCHANGE COMMISSION</font></b></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center><b><font style=FONT-SIZE:16pt>Washington, D.C. 20549</font></b></p> <p style=MARGIN:0px align=center><font style=FONT-SIZE:16pt><br></font></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center><b><font style=FONT-SIZE:16pt>FORM 8-K</font></b></p> <p style=MARGIN:0px align=center><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center><b>CURRENT REPORT<br><br></b></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>Pursuant to Section 13 or 15(d) of the Securities and Exchange Act of 1934</p> <p style=MARGIN:0px align=center><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>Date of Report (Date of earliest event reported): &nbsp;<u>July 25, 2014</u></p> <p style=MARGIN:0px align=center><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center><b><u><font style=FONT-SIZE:16pt>DEVELOPMENT CAPITAL GROUP, INC.</font></u></b></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>(Exact name of Registrant as specified in its charter)</p> <p style=MARGIN:0px align=center><br></p> <table bordercolor=transparent style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding=0 cellspacing=0 align=center> <tr style=FONT-SIZE:0px> <td width=229> <td width=18> <td width=162> <td width=18> <td width=211 /> </tr><tr> <td width=229 style="BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px" valign=top> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center><br>Florida</p></td> <td width=18 style=MARGIN-TOP:0px valign=top> <p style=MARGIN:0px align=center><br></p></td> <td width=162 style="BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px" valign=top> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center><br>000-54566</p></td> <td width=18 style=MARGIN-TOP:0px valign=top> <p style=MARGIN:0px align=center><br></p></td> <td width=211 style="BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px" valign=top> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center><br>27-3746561</p></td></tr> <tr> <td width=229 height=41 style=MARGIN-TOP:0px valign=top> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>(State or other jurisdiction of incorporation)</p></td> <td width=18 height=41 style=MARGIN-TOP:0px valign=top> <p style=MARGIN:0px align=center><br></p></td> <td width=162 height=41 style=MARGIN-TOP:0px valign=top> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>(Commission File Number)</p></td> <td width=18 height=41 style=MARGIN-TOP:0px valign=top> <p style=MARGIN:0px align=center><br></p></td> <td width=211 height=41 style=MARGIN-TOP:0px valign=top> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>(IRS Employer Identification No.)</p></td></tr></table> <p style=MARGIN:0px align=center><br></p> <table bordercolor=transparent style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding=0 cellspacing=0 align=center> <tr style=FONT-SIZE:0px> <td width=384 /> </tr><tr> <td width=384 style="BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px" valign=top> <p style=MARGIN:0px align=center><b>9190 West Olympic Blvd., Suite 200, Beverly Hills, CA, 90212</b><font style=FONT-SIZE:11pt>&nbsp;</font></p></td></tr> <tr> <td width=384 style=MARGIN-TOP:0px valign=top> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>(Address of principal executive offices, including zip code)</p></td></tr> <tr> <td width=384 style=MARGIN-TOP:0px valign=top> <p style=MARGIN:0px align=center><br></p></td></tr> <tr> <td width=384 style="BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px" valign=top> <p style=MARGIN:0px align=center><b>(888) 415-7758</b><font style=FONT-SIZE:11pt> </font></p></td></tr> <tr> <td width=384 style=MARGIN-TOP:0px valign=top> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>(Registrant's telephone number, including area code)</p></td></tr></table> <p style=MARGIN:0px align=center><br></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions:</p> <p style=MARGIN:0px align=center><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>[ ] Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center>[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)).</p> <p style=MARGIN:0px align=justify><br><br></p> <p style="PAGE-BREAK-BEFORE:always; MARGIN:0px"> <table width=100% bordercolor=transparent cellspacing=0> <tr> <td style="BORDER-BOTTOM:#000000 3px solid"> <p align=center>&nbsp;</p></td></tr> <tr> <td style="BORDER-TOP:#000000 3px solid" /></tr></table><br></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:11pt; WIDTH:48px; FLOAT:left; MARGIN-TOP:0px"><b>1.01</b></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:-2px" align=justify><b>Entry into a Material Definitive Agreement</b></p> <p style="CLEAR:left; MARGIN:0px" align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=justify>On July 29, 2014, the registrant Development Capital Group, Inc. (the <font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#147;</font>Company<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#148;</font>) entered into a separation agreement (<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#147;</font>Separation Agreement<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#148;</font>, attached hereto as Exhibit 10) with its president and director Joseph Ricard, along with his affiliated entities Plum Investors, LLC and Tunebash, Inc., whereby (i) Mr. Ricard resigned as a director and president of the Company, (ii) the consulting agreement with Plum Investors, LLC, dated August 1, 2013, for payment to Mr. Ricard as our president was terminated without liability to the Company, and any amounts owing to Mr. Ricard under the consulting agreement were waived, (iii) the convertible note held by the Company from Tunebash, Inc, was terminated without liability to Tunebash, Inc. and any amounts owed to the Company under such convertible note were waived, and (iv) the Compapy transferred all assets and intellectual property rights in connection with <font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#147;</font>Realty Valuator<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#148;</font> to Mr. Ricard. </p> <p style=MARGIN:0px align=justify><br></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:11pt; WIDTH:48px; FLOAT:left; MARGIN-TOP:0px"><b>1.02</b></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:-2px" align=justify><b>Termination of a Material Definitive Agreement</b></p> <p style="CLEAR:left; MARGIN:0px" align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=justify>See Item 1.01 above. On July 29, 2014, the Company and Plum Investors, LLC terminated the consulting agreement between the parties dated August 1, 2013.</p> <p style=MARGIN:0px align=justify><br></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:11pt; WIDTH:48px; FLOAT:left; MARGIN-TOP:0px"><b>5.02 </b></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:-2px" align=justify><b>Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.</b></p> <p style="CLEAR:left; MARGIN:0px" align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=justify>On July 25, 2014, Andrew Fleischer resigned as the Company<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#146;</font>s Chief Financial Officer and member of the Company<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#146;</font>s Board of Directors.</p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=justify>On July 29, 2014, Joseph Ricard, pursuant to the terms of the Settlement Agreement discussed above in Item 1, resigned as the Company<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#146;</font>s President and member of the Company<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#146;</font>s Board of Directors.</p> <p style=MARGIN:0px align=justify><br></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:11pt; WIDTH:96px; FLOAT:left; MARGIN-TOP:0px"><b>Item 9.01 </b></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:-2px" align=justify><b>Financial Statements and Exhibits</b></p> <p style="CLEAR:left; MARGIN:0px" align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=justify>(d)&nbsp;&nbsp;Exhibits</p> <p style=MARGIN:0px align=justify><br></p> <table bordercolor=transparent style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding=0 cellspacing=0 align=left> <tr style=FONT-SIZE:0px> <td width=60> <td width=545 /> </tr><tr> <td width=60 style=MARGIN-TOP:0px valign=top> <p style="FONT-SIZE:11pt; MARGIN:0px" align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;10</p></td> <td width=545 style=MARGIN-TOP:0px valign=top> <p style="FONT-SIZE:11pt; MARGIN:0px" align=justify>Separation Agreement</p></td></tr></table> <p style=MARGIN:0px align=justify><br></p> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center><b><u>SIGNATURE</u></b></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px" 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, thereunto duly authorized.</p> <p style=MARGIN:0px align=justify><br></p> <p style=MARGIN:0px align=justify><br></p> <table bordercolor=transparent style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding=0 cellspacing=0> <tr style=FONT-SIZE:0px> <td width=49> <td width=16> <td width=289 /> </tr><tr> <td width=49 style=MARGIN-TOP:0px valign=top> <p style="FONT-SIZE:11pt; MARGIN:0px" align=justify><br>By:</p></td> <td width=16 style=MARGIN-TOP:0px valign=top> <p style=MARGIN:0px align=justify><br></p></td> <td width=289 style="BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px" valign=top> <p style="FONT-SIZE:11pt; MARGIN:0px" align=justify><br>/s/ <em>Shahbod Rastegar</em></p></td></tr> <tr> <td width=49 style=MARGIN-TOP:0px valign=top> <p style=MARGIN:0px align=justify><br></p></td> <td width=16 style=MARGIN-TOP:0px valign=top> <p style=MARGIN:0px align=justify><br></p></td> <td width=289 style=MARGIN-TOP:0px valign=top> <p style="FONT-SIZE:11pt; MARGIN:0px" align=justify>Shahbod Rastegar</p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=justify>Chief Executive Officer</p></td></tr></table> <p style="FONT-SIZE:11pt; MARGIN:0px" align=justify>&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=justify>&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=justify>Dated: July 30, 2014</p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=justify>&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=justify /> <p style=MARGIN:0px align=justify> <table width=100% bordercolor=transparent cellspacing=0> <tr> <td style="BORDER-BOTTOM:#000000 3px solid"> <p align=center>&nbsp;</p></td></tr> <tr> <td style="BORDER-TOP:#000000 3px solid" /></tr></table><br><br></p></body>
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Filed by Ched Corporate Solutions - www.chedcorp.com - 1-888-567-CHED (2433) - Development Capital - Form 8-K
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 and Exchange Act of 1934
Date of Report (Date of earliest event reported):
July 25, 2014
DEVELOPMENT CAPITAL GROUP, INC.
(Exact name of Registrant as specified in its charter)
Florida
000-54566
27-3746561
(State or other jurisdiction of incorporation)
(Commission File Number)
(IRS Employer Identification No.)
9190 West Olympic Blvd., Suite 200, Beverly Hills, CA, 90212
(Address of principal executive offices, including zip code)
(888) 415-7758
(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 obligations of the registrant under any of the following provisions:
[ ] Written communication 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)).
1.01
Entry into a Material Definitive Agreement
On July 29, 2014, the registrant Development Capital Group, Inc. (the
"
Company
"
) entered into a separation agreement (
"
Separation Agreement
"
, attached hereto as Exhibit 10) with its president and director Joseph Ricard, along with his affiliated entities Plum Investors, LLC and Tunebash, Inc., whereby (i) Mr. Ricard resigned as a director and president of the Company, (ii) the consulting agreement with Plum Investors, LLC, dated August 1, 2013, for payment to Mr. Ricard as our president was terminated without liability to the Company, and any amounts owing to Mr. Ricard under the consulting agreement were waived, (iii) the convertible note held by the Company from Tunebash, Inc, was terminated without liability to Tunebash, Inc. and any amounts owed to the Company under such convertible note were waived, and (iv) the Compapy transferred all assets and intellectual property rights in connection with
"
Realty Valuator
"
to Mr. Ricard.
1.02
Termination of a Material Definitive Agreement
See Item 1.01 above. On July 29, 2014, the Company and Plum Investors, LLC terminated the consulting agreement between the parties dated August 1, 2013.
5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On July 25, 2014, Andrew Fleischer resigned as the Company
'
s Chief Financial Officer and member of the Company
'
s Board of Directors.
On July 29, 2014, Joseph Ricard, pursuant to the terms of the Settlement Agreement discussed above in Item 1, resigned as the Company
'
s President and member of the Company
'
s Board of Directors.
Item 9.01
Financial Statements and Exhibits
(d)  Exhibits
10
Separation Agreement
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.
By:
/s/
Shahbod Rastegar
Shahbod Rastegar
Chief Executive Officer
Dated: July 30, 2014