SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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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): November 4, 1999
The Bethlehem Corporation
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(Exact name of registrant as specified in its charter)
Pennsylvania 1-4676 24-0525900
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
25th and Lennox Streets, Easton, Pennsylvania 18045
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(Address of principal executive offices)
Registrant's telephone number, including area code: (610) 258-7111
N/A
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(Former name or former address, if changed since last report.)
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Item 5. OTHER EVENTS
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This Form 8-K is being filed to report certain changes from the
information contained in the Company's Form 10-QSB for the quarter ended August
31, 1999.
On November 1, 1999, the Company reached an agreement with the
Harrisburg Authority ("Harrisburg") with respect to a note balance due from the
Company on November 1, 1999 in the amount of $535,258. The agreement extends the
note pay off date to May 1, 2000 and the Company will pay Harrisburg $50,000 on
November 5, 1999 and six monthly payments of $9,897 commencing December 1, 1999.
As a result, the balance due on May 1, 2000 will be $445,208. Per the terms of
the original settlement agreement with Harrisburg, the Company paid $44,064 on
November 1, 1999 for interest accrued on the note from March 1998 to November 1,
1999.
In addition, on November 1, 1999, the Company received an extension
from PNC Bank, N.A. for the sum of $250,000 due on November 1, 1999 to January
3, 2000. The Company is in the process of obtaining waivers for the
non-compliance of certain financial covenants contained in its loan agreements.
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SIGNATURE
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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.
The Bethlehem Corporation
Dated: November 4, 1999 By: /s/ Antoinette L. Martin
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Antoinette L. Martin
Vice President, Finance
(Principal Financial and
Accounting Officer)
