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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) October 10, 2000
U.S. PLASTIC LUMBER CORP.
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(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
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(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
Reference is made to Exhibit 10.46, Master Credit Agreement with Bank of
America (the "Agreement"), as filed with the Company's Quarterly Report on
Form 10-Q for the quarterly period ended June 30, 2000. The terms of the
Agreement sets forth certain financial covenants, primarily related to the
Company's earnings, as defined, and funded debt. At September 30, 2000 the
Company did not comply with certain covenants as defined in the Agreement,
and is currently in negotiations with the banks to obtain the appropriate
waivers or forbearance agreement. However, the Company's failure to comply
with the covenants does constitute a default by the Company under the
terms of the Agreement. While the Company believes it will be successful
in obtaining the necessary waivers or forbearance from Bank of America and
the other lenders that are party to the Agreement, failure to do so could
have a material adverse impact upon the Company.
ITEM 6. RESIGNATIONS OF REGISTRANT'S DIRECTORS.
Not Applicable.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND
EXHIBITS.
Not Applicable.
ITEM 8. CHANGE IN FISCAL YEAR.
Not Applicable.
ITEM 9. SALES OF EQUITY SECURITIES PURSUANT TO REGULATION S.
Not Applicable.
EXHIBITS
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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: October 23, 2000 By: /s/ Bruce C. Rosetto
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Bruce C. Rosetto, Vice President and
General Counsel/Secretary
