form8-kdated03172008.htm
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): March 17,
2008
ClearOne Communications,
Inc.
(Exact
Name of Registrant as Specified in Its Charter)
Utah
(State or
Other Jurisdiction of Incorporation)
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000-17219
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87-0398877
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(Commission
File Number)
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(I.R.S.
employer
identification
number)
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5225 Wiley Post Way, Suite
500,
Salt Lake City, Utah
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84116
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(Address
of principal executive offices)
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(Zip
Code)
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(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
30.425)
[ ] Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
40.14a-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
8.01 Other Events.
On March
12, 2008, ClearOne Communications, Inc. (“CLRO” or “the Company”) entered into
an asset purchase agreement with Ascalade Communications, Inc. (“Ascalade”), a
Canadian corporation, to acquire the intellectual property and production
equipment related to and required for the production of the Company’s MAX™
Wireless and the Ascalade design of conferencing phones.
Terms of
the acquisition include a total CLRO payment of approximately US $150,000; 50%
of which was paid upon execution of the asset purchase agreement and the
remaining 50% which will be paid once all assets have been received by CLRO.
Additionally, CLRO will forgive approximately US $40,000 of outstanding
liabilities.
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.
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CLEARONE
COMMUNICATIONS, INC.
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Date: March
17, 2008
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By:
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/s/ Greg LeClaire
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Greg
LeClaire
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Chief
Financial Officer
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