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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0001144204-10-047162.txt : 20100827
<SEC-HEADER>0001144204-10-047162.hdr.sgml : 20100827
<ACCEPTANCE-DATETIME>20100827170030
ACCESSION NUMBER:		0001144204-10-047162
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20100827
ITEM INFORMATION:		Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20100827
DATE AS OF CHANGE:		20100827

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Coda Octopus Group, Inc.
		CENTRAL INDEX KEY:			0001334325
		STANDARD INDUSTRIAL CLASSIFICATION:	SEARCH, DETECTION, NAVIGATION, GUIDANCE, AERONAUTICAL SYS [3812]
		IRS NUMBER:				342008348
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-52815
		FILM NUMBER:		101044671

	BUSINESS ADDRESS:	
		STREET 1:		164 WEST 25TH STREET,
		STREET 2:		6TH FLOOR,
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10001
		BUSINESS PHONE:		212 924 3442

	MAIL ADDRESS:	
		STREET 1:		164 WEST 25TH STREET,
		STREET 2:		6TH FLOOR,
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10001
</SEC-HEADER>
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<TYPE>8-K
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<FILENAME>v195525_8k.htm
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AND EXCHANGE COMMISSION</font></div>
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D.C. 20549</font></div>
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8-K</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">CURRENT
REPORT</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant
to Section 13 or 15(d) of</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">the
Securities Exchange Act of 1934</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date of
Report (Date of earliest event reported): August 27, 2010</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 18pt; FONT-FAMILY: Times New Roman">CODA
OCTOPUS GROUP, INC.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Name of
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      Employer</font></div>
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      or organization</font></div>
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Office Center I</font></div>
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Town Square Place, Jersey City, Suite 1201</font></div>
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Including Zip Code of Principal Executive Offices)</font></div>
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924-3442</font></div>
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telephone number)</font></div>
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to:</font></div>
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Brilleman, Esq.</font></div>
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Street, 11<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: super">th</font>
Floor</font></div>
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New York 10005</font></div>
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(212) 709-8210</font></div>
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(212) 943-2300</font></div>
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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):</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
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pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font></div>
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pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></div>
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communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))</font></div>
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communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><a name="V129240_8K_HTM_EOLPAGE2" /><a name="FIS_SECTION_1_BUSINESS_AND_OPERATIONS" /><a name="FIS_SECTION_4_MATTERS_RELATED_TO_ACCOUNT" /><a name="FIS_SECTION_8_OTHER_EVENTS" /><a name="FIS_OTHER_EVENTS" /><a name="eolPage3" /><a name="FIS_ENTRY_MATERIAL_AGREEMENT"><font style="DISPLAY: inline; COLOR: #000000">Item 2.04 Triggering Events That
Accelerate or Increase a Direct Financial Obli</font><font style="DISPLAY: inline; COLOR: #000000">gation or an Obligation under an
Off-Balance Sheet Arrangement.</font></a></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On August
23, 2010, Coda Octopus Group, Inc. (the &#8220;Company&#8221;) failed to make the full
scheduled interest payment under the senior secured convertible notes in the
principal amount of $12,000,000 dated February 21, 2008 (the
&#8220;Notes&#8221;).&#160;&#160;This constitutes an event of default under the terms of the
Notes.</font></div>
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are secured by all of the assets of the Company and its
subsidiaries.&#160;&#160;Under the terms of the Notes, in the event of a
default, the holder of the Notes may enforce its right, including foreclosure of
the Company&#8217;s assets.</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The Note
holder has demanded the repayment of the special purpose amounts of $6,000,000
advanced to the Company for an approved acquisition under the original loan and
which it has failed to make.&#160;&#160;The Company has 120 days to satisfy this
demand.</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">As a
result of the foregoing, the Company is in the process of exploring ways to
restructure its business and capital structure in full cooperation with the
holder of the Notes.</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Item
5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On August
10th, 2010, Judith Wallace tendered her resignation as a director and the
Company&#8217;s Chief Financial Officer. Judith continues to work with the Company
through her notice period of 90 days.&#160;&#160;On August 23, 2010, Rear
Admiral Christopher Parry tendered his resignation as a member of the Board of
Directors of the Company. On 25<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: super">th</font> August
Charles Runnels tendered his resignation as a member of the Board of Directors
of the Company.</font></div>
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9.01 Financial Statements and Exhibits.</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">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.</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Dated:
August 27th, 2010</font></div>
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      </font></td>
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      Geoffrey Turner</font></div>
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