Reporting Period
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): January 5, 2007
Secured
Diversified Investment, Ltd.
(Exact
name of registrant as specified in its charter)
|
Nevada
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000-30653
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80-0068489
|
|
(State
or other jurisdiction of incorporation)
|
(Commission
File Number)
|
(I.R.S.
Employer Identification No.)
|
|
5205
East Lincoln Drive, Paradise Valley, AZ
|
85253
|
|
(Address
of principal executive offices)
|
(Zip
Code)
|
Registrant’s
telephone number, including area code: 949
851-1069
|
___________________________________________________
(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:
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[
]
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Written
communications pursuant to Rule 425 under the Securities Act (17CFR
230.425)
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[
]
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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[
]
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR
240.14d-2(b))
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[
]
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR
240.13e-4(c))
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SECTION
1 - ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT
Item
1.01 Entry into a Material Definitive Agreement
On
January 5, 2007, our company and Ms. Jan Wallace entered into a Confidential
Settlement and General Release Agreement (the “Settlement Agreement”) with Mr.
Clifford L. Strand to resolve litigation in the matters of Clifford
L. Strand v. Secured Diversified Investment, Ltd.
(case
no. 06CC02350) in the Superior Court of California, County of Orange, and
William
S. Biddle v. Secured Diversified Investment, Ltd.
(case
no. 06CC03959) in the Superior Court of California, County of Orange (the
“Lawsuits”), as well as other claims involving Mr. Strand and our company as set
forth in the Agreement.
With
respect to the $267,000 that Alliance Title Company deposited with the Superior
Court of California in the matter of Alliance
Title Company, Inc. v. Secured Diversified Investment, Ltd.
(case
no. 06CC02129), we had previously entered into a settlement agreement with
Mr.
William S. Biddle, Mr. Gernot Trolf, and Nationwide Commercial Brokers, Inc.
that provides an order of disbursement as follows: $45,000 to Mr. Biddle,
$42,000 to Mr. Trolf, $33,803 to Nationwide, and $33,803 to our company.
Pursuant to an order dated May 16, 2006, Alliance Title Company, Inc. received
$22,395 for attorney fees in the interpleader action. This left a balance of
$89,998 remaining with the Superior Court of California. The Settlement
Agreement with Mr. Strand provides that a stipulation and order of disbursement
will be filed on the remaining $89,998 as follows: $80,000 to Mr. Strand and
$9,998 to our company. The Alliance
Title Company, Inc. v. Secured Diversified Investment, Ltd.
(case
no. 06CC02129) matter remains open with Alliance Title Company, Inc. and Brenda
Burnett remaining as defendants.
In
addition to the above disbursement, the Settlement Agreement provides for a
mutual release of claims, forbearance of prosecution, and dismissal of the
Lawsuits with prejudice. Mr. Strand expressly waived any and all rights he
may
have had in connection with reemployment with our company, and agreed to refrain
from pursuing complaints against our company and our officers and directors
in
any court or government agency.
Further
under the Settlement Agreement, Mr. Strand granted an irrevocable proxy in
connection with any shares of stock beneficially owned by him.
The
foregoing description of the Settlement Agreement does not purport to be
complete and is qualified in its entirety by reference to such Settlement
Agreement with related exhibits, a copy of which is attached to this Form 8-K
as
Exhibit 10.1.
SECTION
9 - FINANCIAL STATEMENTS AND EXHIBITS
Item
9.01 Financial Statements and Exhibits
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.
Secured
Diversified Investment, Ltd.
/s/
Jan Wallace
Jan
Wallace
President,
CEO, Director
Date:
January 10, 2007