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): January 19, 2001
Electrosource, Inc.
(Exact name of registrant as specified in its charter)
Delaware 0-16323 74-2466304
(State or other (Commission File (IRS Employer
jurisdiction of Number) Identification No.)
incorporation)
2809 IH 35 South 78666
San Marcos, Texas (Zip Code)
(Address of principal executive
offices)
Registrant's telephone number, including area code: (512) 753-6500
Item 5. Other Events
Electrosource, Inc., has temporarily ceased battery production in
its San Marcos, Texas plant. Manufacturing and support personnel
have been furloughed. The Company expects to resume full
production in the first quarter of 2001 and recall all employees.
However, as reported in the Company's most recent Form 10Q, the
Company does not generate sufficient cash flow from its current
level of business to sustain operations without supplemental
funding from Kamkorp (the Company's majority shareholder) or
other financial sources. Therefore its ability to restart
production depends upon finding suitable sources of financing.
Management is currently negotiating with several potential
funding sources. While confident that adequate funding will be
acquired in the near term, the Company can offer no assurance
that these negotiations will be successful.
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.
ELECTROSOURCE, INC.
By: /s/ Donald C. Perriello
Donald C. Perriello
Chief Accounting Officer
Assistant Corporate Secretary
Date: January 19, 2001
