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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
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Date of Report (Date of earliest event reported) November 2, 2009
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AMARU, INC.
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(exact name of registrant as specified in its charter)
Nevada
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(State or other jurisdiction of incorporation)
000-32695 88-0490089
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Commission File Number IRS Employer Identification Number
62 CECIL STREET, #06-00 TPI BUILDING, SINGAPORE 049710
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(Address of principal executive offices)
Registrant's telephone number, including area code: (65) 6332 9287
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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 8.01 OTHER EVENTS.
As of November 2, 2009, M2B World Holdings Limited ("M2B"), a wholly
owned subsidiary of M2B World Asia Pacific Pte. Ltd., a subsidiary of Amaru,
Inc., a Nevada corporation (the "Company"), signed a joint venture agreement
with Cyberventures Sdn Bhd, ("Cyberventures"), a company incorporated in
Malaysia and MOL Media Sdn Bhd., ("MOL Media"), a company incorporated in
Malaysia and owned by Cyberventures( the "Agreement").
MOL Media Sdn Bhd is primarily engaged in the business of operation and
distribution of Internet Protocol based television ("IPTV") services as well as
the creation, aggregation and distribution of broadband content and application
to service providers and operators, while M2B is primarily involved in business
of broadband media in Asia Pacific and the provision of entertainment-on-demand
delivered via the broadband and mobile devices.
Pursuant to the terms of the Agreement, M2B shall assign the rights of
the content library for Malaysia on a non-exclusive basis for use on the IPTV,
web and mobile platforms to MOL Media for use in Malaysia and the Friendster
Community, for a fee of USD 4.5 million payable in the shares of MOL Media. The
shares shall be issued at a price of RM 3.69 per New Share (based on exchange
rate of RM 3.52 for USD 1.00) and will result in M2B having a 27 % beneficial
ownership in MOL Media when the issuance of shares are issued. M2B intends to
carry out an independent valuation of the content library assigned to MOL Media
on an annual basis.
The Agreement further provides that MOL Media and M2B shall endeavor to
raise USD 500,000/- in new offering for MOL Media to develop the business on the
IPTV, mobile and web platforms in Malaysia. This new funding shall be raised at
an issue price of RM 3.69 per New Share, at the same rate as the new shares to
be issued to M2B. This fund raising shall precede the issue of the new shares to
M2B, which makes it a condition that has to be met before M2B receives the new
shares.
MOL Media has an IPTV Content Application Services License in Malaysia
until August 2018, and a Niche IPTV Service License in Singapore till July 2013.
Cyberventures and MOL Media will facilitate its affiliate companies to use the
services related to the IPTV business of MOL Media, which will include all their
resort, hotel and condominium properties, and their web sites and payment
gateways, and make available their distribution channels for M2B's use.
The Company expects that the joint venture with MOL Media should
provide substantial benefits to the Company, as it is anticipated to contribute
to the introduction and development of the Company's brand and its content, as
well as to contribute to the Company's revenues through its 27 % equity
position.
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 thereunto duly authorized.
Dated: November 10, 2009 AMARU, INC.
By: /s/ Colin Binny
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Colin Binny
President