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): September 26, 1996
PACKAGING RESEARCH CORPORATION
(Exact name of registrant as specified in charter)
Colorado 0-11426 84-0750762
(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation File No.) Identification No.)
2582 South Tejon Street, Englewood, Colorado 80110
(Address of principal executive offices, including zip code)
Registrant's telephone number, including area code: (303) 936-2363
Not Applicable
(Former name, former address and former fiscal year,
if changed since last report)
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Item 1-4. Not Applicable.
Item 5. Other Events
On September 26, 1996, Packaging Research Corporation (the "Company"),
announced that it was not able to make the semi-annual interest payment on its
subordinated convertible debentures due to defaults under senior indebtedness.
The defaults include defaults under financial covenants and also a default in
the payment of interest due Renaissance Capital Growth & Income Fund III, Inc.
The subordinated convertible debentures provide that so long as such defaults
are uncured or unwaived, no amount is payable on the principal or interest of
the subordinated convertible debentures until the principal and interest of the
senior indebtedness has been paid in full.
Interest of 8% on the subordinated convertible debentures is payable
semi-annually on March 1 and September 1 of each year and commenced March 1,
1994. To date, all interest payments have been made in a timely fashion with the
exception of the interest payment due on September 1, 1996.
Item 6-8. Not Applicable.
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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, thereunto duly authorized.
PACKAGING RESEARCH CORPORATION
Date: October 25, 1996 By: /s/ TIMOTHY G. PHILLIPS
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Name: Timothy G. Phillps
Title: President
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