SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): November 20, 2012
EFT HOLDINGS, INC.
(Exact Name of Registrant as Specified in its Charter)
17800 Castleton Street
City of Industry, CA 91748
(626) 581 3335
(Registrant’s telephone number, including area code)
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:
On November 20, 2012, Jerry B. Lewin resigned as a member of the board of directors (the “Board”) of EFT Holdings, Inc. (the “Company”), effective as of that date. In addition to his duties as a director of the Company, Mr. Lewin was also a member of the audit committee of the Board. A copy of Mr. Lewin’s resignation letter is attached to this Current Report on Form 8-K.
Mr. Lewin’s resignation resulted from Mr. Lewin’s concern about the general status of the Company’s market, the lack of sales during the second quarter of fiscal 2013, on which Mr. Lewin believed that management needed to be more focused and take a more sizeable role in producing results, as well as several occasions in the past where management has not advised the Board on purchases made by the Company prior to making such purchases. In addition, due to the impact of Hurricane Sandy on Mr. Lewin, he can no longer devote the necessary time to directing the affairs of the Company in the way that it deserves. Thus, given the totality of the Company’s current circumstances and the need for Mr. Lewin to devote a significant portion of his time at present to addressing the effects of the hurricane, he has resigned from the Board.
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.