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
February 8th, 2007
-------------------------
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
---------------------------- ------------------------ -------------------
(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)
N/A .
-------------------------------------------------------------
(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:
[ ] Written communications pursuant to Rule 425 under the Securities Act
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act
Item 1.01 Entering Into a Multi-year Licensing Agreement with Significant
Minimum Royalty Payments
(a) SOYO Group Inc. has signed a license agreement with Honeywell
International Properties Inc. and Honeywell International Inc., effective
January 1st 2007, under which SOYO will supply and market certain consumer
electronics products under the Honeywell Brand. Negotiations were concluded
between the parties, and the final agreement was signed by authorized Honeywell
Executives in January 2007. The agreement has been counter-signed by SOYO Group
Inc.'s CEO on February 8th, 2007 and is now in effect.
(b) The agreement is for a minimum period of 6.5 (six point five) years and
calls for the payment of MINIMUM royalties by SOYO to Honeywell totaling
$3,840,000 (Three Million, Eight Hundred and Forty Thousand Dollars U.S.). Sales
levels in excess of minimum agreed targets will result in associated increases
in the royalty payments due.
(c) SOYO Group, Inc. will update shareholders regarding product launch
dates and other relevant information through its web site www.soyo.com or
through future press releases.
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.
SOYO GROUP, INC.
----------------
(Registrant)
Date: February 8, 2007 By: /s/ MING CHOK
------------------ ---------------
Ming Chok, CEO