UNITED STATES
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
October 19, 2006
Date of Report (Date of earliest event reported)
SOYO GROUP, INC.
(Exact name of registrant as specified in its charter)
Nevada 333-42036 95-4502724
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(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification No.)
1420 South Vintage Avenue
Ontario, California 91761-3646
(Address of principal executive offices, including zip code)
(909) 292-2500
(Registrant's telephone number, including area code)
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 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))
Section 1 - Registrant's Business and Operations
Item 1.01. Entry into a Material Definitive Agreement
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On December 15, 2006, Soyo Group, Inc. entered into a Forbearance and Debt
Payment Agreement with Eastech Electronics (Taiwan) Inc., which Agreement is
attached as Exhibit 10.6 hereto. The Agreement contains certain representations
and warranties, affirmative and negative covenants and events of default that
are customary for such forbearance and debt payment agreements.
On October 19, 2006, Soyo, Inc. entered into an Agreement with Corion
Industrial Corp. USA, which Agreement governs Soyo, Inc.'s repayment of debt.
This Agreement is attached as Exhibit 10.7 hereto.
Section 9 - Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits
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(c) Exhibits
Exhibit Number Exhibit Title or Description
10.6 Forbearance and Debt Payment agreement, dated as of December
15, 2006.
10.7 Agreement, dated as of October __, 2006.
SIGNATURE
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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.
SOYO GROUP, INC.
(Registrant)
Date: December 22, 2006 By: /s/ NANCY CHU
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Nancy Chu,
Chief Financial Officer
Exhibit Index
Exhibit Number Exhibit Title or Description
10.6 Forbearance and Debt Payment agreement, dated as of December
15, 2006.
10.7 Agreement, dated as of October __, 2006.