UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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): April 6, 2005
Visual Bible International, Inc.
(Exact Name of Registrant as Specified in its Charter)
Florida
(State or Other Jurisdiction of Incorporation)
0-26037 65-1030068
(Commission File Number) (IRS Employer Identification No.)
1235 Bay Street, Suite 300, Toronto, Ontario, Canada M5R 3K4
(Address of Principal Executive Offices) (Zip Code)
(416) 921-9950
(Registrant's telephone number, including area code)
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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 1.03 Bankruptcy or Receivership
On April 13, 2005, Visual Bible International, Inc. (the "Company"), was placed in interim receivership by the Ontario Superior Court of Justice. RSM Richter Inc. was appointed as interim receiver by the Court. On April 13, 2005, the Company issued a press release describing these events, a copy of which is attached as Exhibit 99.1.
Item 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers
(b) On April 6, 2005, two of the Company's four directors, Paul Carroll and Jake Eberts, resigned from the board of directors. A third director, Marlene Hore, resigned on April 7, 2005, and the remaining director, Maurice Colson, resigned on April 8, 2005. In addition, Mr. Colson resigned as the Company's Chief Executive Officer on April 8, 2005, and Luc Perron resigned as the Company's Chief Financial Officer on April 12, 2005.
Item 9.01 Financial Statements and Exhibits
(c) Exhibits
99.1 Press release dated April 13, 2005.
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.
Dated: April 18, 2005 VISUAL BIBLE INTERNATIONAL, INC.
(Registrant)
By: RSM Richter Inc., Interim Receiver
By: /s/ Peter P. Farkas
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Name: Peter P. Farkas
Title: Vice President
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EXHIBIT INDEX
99.1 Press Release dated April 13, 2005
EXHIBIT 99.1
COURT APPOINTS INTERIM RECEIVER FOR VISUAL BIBLE INTERNATIONAL INC.
TORONTO, April 13, 2005 - On April 13, Visual Bible International Inc. ("VBI" or "the Company") was placed in interim receivership by the Ontario Superior Court of Justice. The intent of the interim receivership is to protect the assets of Visual Bible and sell the assets on a going concern basis.
RSM Richter Inc. was appointed as Interim Receiver. It is the intention that VBI will continue to operate throughout the receivership process, during which time the Interim Receiver intends to actively search for a buyer for the Company. VBI's principal secured lenders are supportive of this process.
VBI is a global Christian faith-based media company, which has secured the exclusive worldwide rights to develop, produce and market film adaptations on a word-for-word basis from popular versions of the Bible including both Books of the Old and New Testaments. VBI's most recent film is the adaptation on a word-for-word basis of The Gospel of John, which was released to critical acclaim in September 2003. It recently concluded a distribution agreement for this film and the upcoming The Gospel of Mark with Disney's Buena Vista Home Entertainment Inc.
VBI has been committed to producing films that feature exceptional production values, that maintain a high degree of integrity to the Biblical works, and that utilize the finest directing and stage acting talents primarily from Canada and the U.K.
For further information, please contact Luc Perron at Visual Bible at (416) 921-9950 ex. 226.