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)
November 5, 2007 (August 16, 2007)
VOYAGER ENTERTAINMENT INTERNATIONAL, INC.
(Exact name of registrant as specified in its charter)
NEVADA 0-33151 54-2110681
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(State or other jurisdiction of (Commission (IRS Employer
incorporation) File Number) Identification No.)
4483 WEST RENO AVE, LAS VEGAS, NEVADA 89118
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (702) 221-8070
NOT APPLICABLE
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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:
[ ] 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 2 - Financial Information
ITEM 2.03. Creation of a Direct Financial Obligation or an Obligation under an
Off-Balance Sheet Arrangement of a Registrant
As previously disclosed on September 5, 2006 the Company received a loan from
Diversified Lending Group, a California registered mortgage Banker, in the
amount of $1,250,000. The loan term was for one year with monthly interest
payments due on the 5th day of each month beginning on October 5, 2006. The
principal balance was to be due twelve months from the day the loan was
executed. The interest rate of the loan is 14% simple interest calculated daily
assuming a 360 day year. A late payment fee of .05% will be payable to DLG in
the event a monthly payment is determined to be late. If the Company defaults on
any payments a notice of default will be sent by DLG to the Company at which
time the company will have 15 days to cure the default. Once a default has been
created, the default rate will be 18%. As consideration for the loan Voyager was
required to issue 4,000,000 shares of common stock representing .04% of the
issued and outstanding shares of Voyager. As a condition to the loan Voyager is
required to issue shares of common stock to DLG every quarter in order for DLG
to remain at .04% for a period of two years from the date the loan is repaid. An
additional 7,500,000 shares were issued to DLG as collateral for the loan. Those
shares are to remain unencumbered and will be returned to the Company for
cancellation at the time the loan is repaid. However if the loan is not repaid
DLG will be permitted to retain the shares.
The company had the option to extend the loan term to 18 months for a fee of
..03% of the loan amount or $37,500.
On August 16, 2007 the Company elected to extend the term of the DLG Loan an
additional 6 months in accordance with the terms of the original loan acquired
on September 5, 2006. As a result the Company paid an extension fee of .03%
equaling $37,500 for the extension.
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Item 9.01. Financial Statements and Exhibits
(c) Exhibit Number Description
10.1 Promissory Note
10.2 Stock Pledge Agreement
10.3 Loan Extension
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.
VOYAGER ENTERTAINMENT INTERNATIONAL, INC.
November 5, 2007 By: /S/ Richarld L. Hannigan, Sr.
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Name: Richard L. Hannigan, Sr.
Title: President & CEO
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