FORM 8-K
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
DATE OF REPORT (Date of earliest event reported): May 15, 1998
CREATIVE RECYCLING TECHNOLOGIES, INC.
(Exact name of registrant as specified in its charter)
Georgia 0-28704 84-1122431
(State or other juris- (Commission (IRS Employer
diction of incorporation) File Number) Identification No.)
3500 Parkway Lane, Suite 435
Norcross, Georgia 30092
(Address of Principal Executive Offices)
Registrant's telephone number: (770)729-9010
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FORM 8-K
ITEM 1. CHANGES IN CONTROL OF REGISTRANT
Not applicable.
ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS
Not applicable.
ITEM 3. BANKRUPTCY OR RECEIVERSHIP
Not applicable.
ITEM 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT
Not applicable.
ITEM 5. OTHER EVENTS
Not applicable.
ITEM 6. RESIGNATIONS OF REGISTRANT'S DIRECTORS
Not applicable.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
Not applicable.
ITEM 8. CHANGE IN FISCAL YEAR
Not applicable.
ITEM 9. SALES OF EQUITY SECURITIES PURSUANT TO REGULATION S
The following information is furnished in accordance with Item 701
of Regulation S-B as to all equity securities of the Registrant sold by the
Registrant that were not registered under the Securities Act of 1933 ("Act")
in reliance upon Regulation S under the Act.
A. Title and Amount of Securities Sold and Date of the
Transactions.
On May 15, 1998, the Registrant sold 10,000 units for $1.50
per unit, each unit consisting of one share of Class A Common Stock and one
Series A Warrant.
On May 29, 1998, the Registrant sold 20,000 units for $2.00 pe
unit, each unit consisting of one share of Class A Common Stock and one
Series A Warrant.
B. Name of Placement Agent and Description of Offerees
The Placement Agent was Brown & Lampe, Vienna, Austria. The
units were offered to non-U.S. persons by Brown & Lampe.
C. Consideration Received
Total consideration paid with respect to the sale on May 15,
1998 was $15,000 ($1.50 per unit), an underwriting commission of $5,000 was
paid, with Registrant receiving net funds of $10,000.
Total consideration paid with respect to the sale on May 29,
1998 was $30,000 ($1.50 per unit), an underwriting commission of $10,000 was
paid, with Registrant receiving net funds of $20,000.
D. Exemption from Registration Claimed
The securities were only offered to Non-U.S. persons eligible
for utilization of Regulation S under the Act as not being a "U.S. person" as
defined in Rule 902(o). Each purchaser has executed a Subscription Agreement
in which the purchaser represents that he/she is a non-U.S. person and is
otherwise eligible to purchase securities in accordance with the exemption
provided by Regulation S under the Securities Act of 1933.
E. Description of Convertible Securities
Each Series A Warrant is convertible into one share of Class A
Common Stock at an exercise price of $3.50 per share on or before December
31, 2003.
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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.
CREATIVE RECYCLING TECHNOLOGIES, INC.
Date: 6/9/98 By: /s/ James R. Shaw
_____________________________
James R. Shaw, President
