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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) June 2, 1999
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COMPOST AMERICA HOLDING COMPANY, INC.
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(Exact name of registrant as specified in its charter)
New Jersey 0-27832 22-2603175
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(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
3000 Hadley Road South Plainfield, New Jersey 07080
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (908) 668-9335
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N/A
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(Former name or former address, if changed since last report.)
PLEASE ADDRESS ALL CORRESPONDENCE TO: Mark Gasarch, Esq.
40 West 57th Street
33rd Floor
New York, New York 10019
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ITEM 5. OTHER EVENTS
On June 2, 1999 the Board of Directors of Compost America Holding Company, Inc.
("Company") approved unanimously a resolution to advise the New Jersey Economic
Development Authority that the Authority's $90,000,000 Solid Waste Disposal
Facility Revenue Bonds (Newark Recycling & Composting Co. Project) Series 1997
should not be remarketed on June 15, 1999, the next remarketing date for such
Bonds. Accordingly, the escrowed Bond proceeds will be applied to retire the
Bonds.
The Bonds originally were issued on December 30, 1997 to provide long term
financing for an in-vessel waste composting facility to be owned and operated in
Newark, New Jersey by the Company and its joint-venture partner, Potomac
Technologies, Inc. The Company has been advised that alternative methods of
financing the composting facility are available. The Company also is exploring
whether alternative uses of the site potentially would provide a better economic
return.
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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.
Date: June 11, 1999
COMPOST AMERICA HOLDING COMPANY, INC.
(Registrant)
By /s/ Roger E. Tuttle
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Roger E. Tuttle, Chairman
