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U.S. 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) August 14, 2000
U.S. PLASTIC LUMBER CORPORATION
(Exact Name of Registrant as Specified in its Charter)
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Nevada 3080 87-0404343
(State of incorporation (Primary Standard Industrial (I.R.S. Employer
/organization) Classification Code Number) Identification No.)
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2300 W. Glades Road, Suite 440 W, Boca Raton, Florida 33431
(Address of Principal Executive Offices)
Registrant's telephone number, including area code: 561-394-3511
Former Name or Former Address if Changed Since Last Report: Not
Applicable.
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ITEM 1. CHANGES IN CONTROL OF REGISTRANT.
Not Applicable.
ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS.
Not Applicable.
ITEM 3. BANKRUPTCY OR RECEIVERSHIP.
Not Applicable.
ITEM 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT.
Not Applicable
ITEM 5. OTHER EVENTS
On August 14, 2000, the Company decided to restate the financial
statements contained in the Quarterly Report on Form 10-Q for the quarter
ended March 31, 2000 to include interest expense related to a beneficial
conversion feature and accretion of discounts related to $7.5 million of
convertible debentures issued by the Company on February 2, 2000.
The first quarter financial statements have been restated to reflect
the effects of the beneficial conversion feature, discounts and accretion
associated with the aforementioned $7.5 million convertible debentures,
which resulted in a $306,000 increase to interest expense, or $.01 per
share. The net after tax impact of the restatement was to increase the net
loss for the quarter by $190,000, or $.01 per share. The Company will file
an amendment to the Quarterly Report on Form 10Q/A with the Securities and
Exchange Commission to reflect this restatement.
As reported in the Form 10-Q for the quarter ended June 30, 2000 filed
by the Company on August 14, 2000, interest expense for the six-month
period was $2.5 million compared to $3.0 million for the same period last
year. For the six-month period ended June 30, 2000, this interest expense
includes a $358,000 charge for the beneficial conversion feature and
accretion of discounts associated with the issuance of the $7.5 million
convertible debentures during the first quarter.
ITEM 6. RESIGNATIONS OF REGISTRANT'S DIRECTORS.
Not Applicable.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND
EXHIBITS.
Not Applicable.
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ITEM 8. CHANGE IN FISCAL YEAR.
Not Applicable.
ITEM 9. SALES OF EQUITY SECURITIES PURSUANT TO REGULATION S.
Not Applicable.
EXHIBITS
Press Release
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this registration statement to be signed on its
behalf by the undersigned hereunto duly authorized.
U.S. Plastic Lumber Corp.
(Registrant)
Date: August 16, 2000 By: /s/ BRUCE C. ROSETTO
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Bruce C. Rosetto, Vice
President and General
Counsel/Secretary
