SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
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Date of Report (Date of Earliest Event Reported): March 25, 1997
ETS INTERNATIONAL, INC.
(Exact name of Registrant as specified in its charter)
Virginia 00019678 54-1414643
(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
1401 Municipal Road, NW
Roanoke, Virginia 24012
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (540) 265-0004
Not Applicable
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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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On March 25, 1997, ETS International, Inc. (the "Company") announced a
new secured credit facility of up to $2,500,000. A portion of this credit
facility will be used to replace approximately $1.6 million of the Company's
existing credit facilities. The Company's promissory note provides for fixed
monthly interest of $25,000 over a two-year term, subject to call by the
holder upon 60 days notice, and is secured by assets of the Company and its
subsidiaries. The Company currently has drawn down $2,000,000 of this credit
facility. The $500,000 balance remaining is available to the Company. Based
on the current draw down, the $25,000 fixed interest is equivalent to a 15%
annual interest rate. The Company may prepay the note at any time without
penalty upon 60 days notice. The credit facility is provided by Company
investor and director Tom Marmon.
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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 hereunto duly authorized.
ETS INTERNATIONAL, INC.
By s/John D. McKenna
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John D. McKenna
President
Date: March 27, 1997
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