sec document
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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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): April 20, 2007
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SECURE ALLIANCE HOLDINGS CORPORATION
(formerly known as Tidel Technologies, Inc.)
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Delaware 000-17288 75-2193593
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(State or other (Commission (IRS Employer
jurisdiction of incorporation) File Number) Identification No.)
2900 Wilcrest Drive, Suite 105, Houston, Texas 77042
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(Address of principal executive offices) (zip code)
Registrant's telephone number, including area code: (713) 783-8200
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(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.
On April 20, 2007, Robert D. Peltier and Leonard L. Carr submitted their
resignations as Acting Chief Financial Officer and Secretary, respectively,
effective immediately. The Company accepted both resignations.
On April 20, 2007, the board of directors unanimously approved the
appointment of Stephen P. Griggs as the Company's Principal Financial Officer
and Secretary in addition to his existing positions of President and Chief
Operating Officer.
Mr. Griggs (49 years) has served as a Director since June 2002 and has
been primarily engaged in managing his personal investments since 2000. From
1988 to 2000, Mr. Griggs held various positions, including President and Chief
Operating Officer, with RoTech Medical Corporation, a Nasdaq-traded company. He
holds a Bachelor of Science degree in Business Management from East Tennessee
State University and a Bachelor of Science degree in Accounting from the
University of Central Florida.
On March 21, 2007, the Company awarded Mr. Griggs pursuant to the
Company's 1997 Long-Term Incentive Plan options to purchase from the Company
950,000 shares of the Company's common stock at an option price of $0.62 per
share. Of this award, 34% of the options vest on the first anniversary of the
date of the grant, 33% of the options vest on the second anniversary of the date
of the grant and the remaining 33% of the options vest on the third anniversary
of the date of the grant. In addition, 100% of the options vest upon a change of
control.
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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.
Secure Alliance Holdings Corporation
(formerly known as Tidel Technologies, Inc.)
Dated: April 20, 2007 By: /s/ Stephen P. Griggs
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Name: Stephen P. Griggs
Title: President, Chief Operating
Officer, Principal Financial Officer
and Secretary