UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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) January 4, 2010
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ELECTRONIC SENSOR TECHNOLOGY, INC.
(Exact Name of the Registrant as Specified in Charter)
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Nevada 000-51859 98-0372780
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(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
1077 Business Center Circle, Newbury Park, California 91320
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(Address of Principal Executive Offices)
Registrant's telephone number, including area code (805) 480-1994
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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))
Item 1.01 Entry into a Material Definitive Agreement.
On January 4, 2010, Halfmoon Bay Capital Ltd agreed to defer a $90,000
interest payment owed to Halfmoon Bay by Electronic Sensor Technology, Inc. (the
"Registrant") on December 31, 2009 under the terms of a 9% convertible debenture
issued by the Registrant to Halfmoon Bay on March 28, 2008. Halfmoon Bay agreed
to defer the interest payment until March 31, 2010. All other terms and
conditions of the 9% convertible debenture remain unchanged.
Halfmoon Bay currently owns approximately 53% of the outstanding common stock of
the Registrant and beneficially owns an additional 9% of the outstanding common
stock of the Registrant by virtue of the shares underlying the 9% convertible
debenture. The 9% convertible debenture is attached as Exhibit 4.1 to, and more
fully described in, our current report on Form 8-K filed on April 3, 2008. Two
designees of Halfmoon Bay also serve as directors of the Registrant.
On April 10, 2009, the Registrant received $1 million from Halfmoon Bay in
exchange for a debenture bearing an interest rate of 9% with a maturity of one
year. The debenture issued by the Registrant to Halfmoon Bay on April 10, 2009
is attached as Exhibit 4.1 to, and more fully described in, our current report
on Form 8-K filed on April 15, 2009.
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.
ELECTRONIC SENSOR TECHNOLOGY, INC.
Date: January 4, 2010 By: /s/ Philip Yee
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Name: Philip Yee
Title: Secretary, Treasurer and Chief Financial
Officer