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SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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): December 13, 1996
TOUCHSTONE APPLIED SCIENCE ASSOCIATES, INC.
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(Exact Name of Registrant as Specified in Charter)
Delaware 0-20303 13-2846796
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(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification No.)
P.O. Box 382, Fields Lane, Brewster, New York 10509
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(Address of Principal Executive Offices) Zip Code
Registrant's telephone number, including area code: (914) 277-8100
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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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Pending Acquisition of Beck Evaluation & Testing Associates, Inc..
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On December 13, 1996, Touchstone Applied Science Associates, Inc. (the
"Company") entered into a letter of intent to purchase all of the outstanding
capital stock of Beck Evaluation & Testing Associates, Inc. from the holders
of such shares for a purchase price equal to approximately $400,000, payable
(i) $130,000 in cash, (ii) $150,000 by a promissory note of the Company, which
will bear interest at the prime rate and will be payable in eight quarterly
installments commencing three months from the closing date, and (iii) with
150,000 shares of the Company's Common Stock, par value $.0001 per share,
which shall be delivered on the closing date. The acquisition is currently
scheduled for closing on or before January 10, 1997, and is subject to the
execution of definitive documentation and the satisfaction of conditions
precedent.
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SIGNATURE
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.
TOUCHSTONE APPLIED SCIENCE ASSOCIATES, INC.
By: /s/ ANDREW L. SIMON
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Andrew L. Simon
President
Date: December 20, 1996
