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) October 5, 1999
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Commission file number 000-25415
TWIN FACES EAST
ENTERTAINMENT CORPORATION
(Exact name of registrant as specified in charter)
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Nevada 22-3374562
(State of other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification Number)
1850 E. Flamingo Rd., Suite 111-A
Las Vegas, Nevada 89119
(Address of Principal Executive Office) (Zip Code)
(702) 866-5858
(Registrant's Executive Office Telephone Number)
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Twin Faces East Entertainment Corporation - Page Two
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Item No. 1. Changes in Control of Registrant.
No events to report.
Item No. 2. Acquisition or Disposition of Assets.
No events to report.
Item No. 3. Bankruptcy or Receivership.
No events to report.
Item No. 4. Changes in Registrant's Certifying Accountant.
No events to report.
Item No. 5. Other Events.
In an effort to avoid protracted litigation, Twin Faces East Entertainment,
Inc. ("the company") entered into a settlement agreement with ReadSpeak,
Inc. to end the litigation in ReadSpeak, Inc. vs. Twin Faces East
Entertainment (United States District Court, Southern District of New York
- - Case No. 99 Civ. 8602 (DLC) (DFE)). The parties agreed to a cross
irrevocable and unconditional release of claims, counterclaims, demands,
damages, etc., in exchange for the Company; (i) paying the sum of $5,000,
(ii) the Company acknowledging that ReadSpeak, Inc. owns the patent rights
to US Patent No. 5,741,136, and ReadSpeak, Inc. has the sole and exclusive
rights to the trademark "ReadSpeak," (iii) that the Company accepts the
validity of the above patent, and (iv) the Company agrees to the entry of a
permanent injunction wherein the Company will not utilize ReadSpeak
technology.
Item No. 6. Resignation of Registrant's Directors.
No events to report.
Item No. 7. Financial Statements, Proforma Financial Information and
Exhibits.
No events to report
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Twin Faces East Entertainment Corporation - Page Three
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SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
Twin Faces East Entertainment Corporation
By:/s/ Michael Smolanoff Dated: October 5, 1999
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Michael Smolanoff, President
By:/s/ Stan Teeple Dated: October 5, 1999
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Stan Teeple, Secretary
