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
31, 2006
DESTINY
MEDIA TECHNOLOGIES INC.
(Exact
name of registrant as specified in its charter)
Colorado
(State
or
other jurisdiction of incorporation)
0-028259
(Commission
File Number)
84-1516745
(IRS
Employer Identification No.)
Suite
1040 - 1055 West Hastings Street
Vancouver,
British Columbia V6E 2E9 Canada
(Address
of principal executive offices and Zip Code)
604.609.7736
Registrant’s
telephone number, including area code
Not
Applicable
(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:
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
8.01. Other Events
On
June
6,
2001,
a
wholly owned subsidiary of the company ("Destiny Software") commenced legal
proceedings in the Supreme Court of British Columbia (Action No.
SO13166) against Impatica.com Inc., ("Impatica") for payment of approximately
$512,500 in unpaid technology licensing fees. Impatica filed
a
counterclaim against Destiny Software seeking return of $162,500 advanced
to
Destiny Software on
an
alleged "good faith" agreement.
On
March
31, 2006, the parties agreed to settle the outstanding dispute and enter
into a mutual release. A consent dismissal order without costs will be
filed
with the court registry. Destiny Software will pay $7500 to Impatica as
consideration for the settlement.
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.
| |
|
|
|
| DESTINY MEDIA TECHNOLOGIES
INC. |
|
|
|
| |
|
|
|
| |
|
|
|
| By:
Steve
Vestergaard |
|
|
|
Steve
Vestergaard |
|
|
|
|
President
and
CEO
|
|
|
|