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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20654
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):
April 3, 1996
EVANS ENVIRONMENTAL CORPORATION
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(Exact Name of Registrant as Specified in its Charter)
Colorado 0-16322 84-1061207
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(State or other (Commission File (IRS Employer
jurisdiction of Number) Identification No.)
Incorporation)
99 Southeast Fifth Street, Fourth Floor, Miami, FL 33131
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(Address of Principal Executive Offices) Zip Code
Registrant's telephone number, including area code (305 374-8300
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ITEM 2 ACQUISITION OR DISPOSITION OF ASSETS
On April 3, 1996, effective as of March 31, 1996, ABC Cable Products, Inc.
(a Colorado corporation), sold substantially all of its assets (including the
name ABC Cable Products) to ICX International, Inc. (a Colorado corporation).
The assets sold included accounts receivable, inventory, prepaid expenses, name,
trademark, customers list, supplier contracts, personal property leases, records
and files, etc. ICX International, Inc. assumed essentially all of the
liabilities of ABC Cable Products, Inc. in the total amount of $595,000, paid
$550,000 in cash and delivered its Promissory Note in the amount of $1,000,000,
fully secured by three unconditional Letters of Credit of like amount issued by
Colorado National Bank. The Letters of Credit are payable $500,000 on July 1,
1996; $250,000 on March 5, 1997; and $250,000 on September 5, 1997, or March 5,
1997 if Colorado National Bank exercises its right not to renew the Letter of
Credit securing this payment.
ABC Cable Products, Inc. provides products and services to the cable
television industry, including remote control units, fibre optic interface units
and other cable television equipment.
There are no material relationships between ICX International, Inc., its
Shareholders and any Officer, Director or Control Person of Evans Environmental
Corporation. Nor does such a relationship exist between ICX International, Inc.,
its Shareholders and Evans Environmental Corporation.
