UNITED
STATES
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): March 20, 2007 (March 9,
2007)
CHINA
PUBLIC SECURITY TECHNOLOGY, INC.
(Exact
name of registrant as specified in its charter)
Florida
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333-132119
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59-1944687
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(State
or other jurisdiction
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(Commission
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(IRS
Employer
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of
incorporation)
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File
Number)
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Identification
No.)
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Unit
D,
Block 2, Tian An Cyber Park
Chengongmiao,
Shenzhen, Guangdong, 518040
People’s
Republic of China
(Address
of principal executive offices)
Registrant's
telephone number, including area code: (+86) 755 -8835-2899
_________________________ ____________________________
(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 (see
General
Instruction A.2. below):
o Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
o Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
o Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
o 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
February 1, 2007, we reported that China
Public Security Technology, Inc. (formerly Irish Mag, Inc.) (the
“Company”)
entered
into a registration rights agreement (the “Registration Rights Agreement”),
dated January 31, 2007, with two
accredited investors (the “Investors”),
pursuant to which the Company was obligated to register, within a pre-defined
period,
7,868,422 shares (the “Shares”) of the Company’s common stock purchased by the
Investors pursuant to a securities purchase agreement among the Company and
the
Investors, dated January 16, 2007 (the
“Securities Purchase Agreement”). For details regarding the Registration Rights
Agreement and Securities
Purchase Agreement see the current report on Form 8-K filed by the Company
on
February 1, 2007.
Under
the
terms of the Registration Rights Agreement, the Company was obligated to file
a
registration statement (the “Registration Statement”) within
45
days following the consummation of the transactions contemplated by the
Securities Purchase Agreement (the “Filing Deadline”), which occurred on January
31, 2007 (the “Closing Date”), and to cause the Registration Statement to be
declared effective as soon as possible, but in any event no later than the
earlier of (i) the 150th
day
following the Closing Date and (ii)
the
fifth trading day following the date on which the Company is notified by the
Securities and Exchange Commission that the Registration Statement will not
be
reviewed or is no longer subject to further review and comments (the
“Effectiveness Deadline”).
On
March
9, 2007, the Company
and the
Investors amended the Registration Rights Agreement (the “Amendment”) to (1)
extend the Filing Deadline to 75 days following the Closing Date and (2) extend
the Effectiveness Deadline to the earlier of (i) 180 days following the Closing
Date, and (ii) the fifth trading day following the date on which the Company
is
notified by the Securities and Exchange Commission that the Registration
Statement will not be reviewed or is no longer subject to further review and
comments. This
brief description of the terms of the Amendment is qualified by reference to
the
provisions of the agreement attached hereto as Exhibit 4.1.
ITEM
9.01. FINANCIAL
STATEMENTS AND EXHIBITS.
(d) Exhibits.
4.1
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Amendment
No. 1 to Registration Rights Agreement, dated March 9, 2007, among
China
Public Security Technology, Inc., and the investors signatory thereto.
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SIGNATURE
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.
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China
Public
Security Technology, Inc. |
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By: |
/s/ Jiang
Huai Lin |
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Jiang
Huai Lin
Chairman
and Chief Executive Officer
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Dated: March 20, 2007 |
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EXHIBIT
INDEX
Exhibit
No.
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Description
of Exhibit
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4.1
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Amendment
No. 1 to Registration Rights Agreement, dated March 9, 2007, among
China
Public Security Technology, Inc., and the investors signatory
thereto.
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