UNITED STATES
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 13, 2014
CEREPLAST, INC.
(Exact name of registrant as specified in its charter)
| Nevada | 001-34689 | 91-2154289 | ||
| (State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) | ||
| 2213 Killion Avenue, Seymour, Indiana |
47274 | |||
| (Address of principal executive offices) | (Zip Code) | |||
Registrant’s telephone number, including area code: (812) 220 5400
Not Applicable
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 2.04 Triggering Events that Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement Entry into a Material Definitive Agreement
On January 13, 2014, Cereplast, Inc. (the “Company”) received a Notice of Event of Default (the “Notice”) from Horizon Technology Finance, Inc. with respect to the Company’s Venture Loan and Security Agreement dated December 21, 2010. The Notice was triggered by events of defaults resulting from the inability of the Company to pay interests and principal pursuant to the terms of the Loan documents dated December 21, 2010. The Venture Loan & Security Agreement in the aggregate amount of $5,000,000 were originally issued on December 21, 2010. As of the date of this current report an aggregate amount of $2,800,000 of the Loan remain outstanding.
The Company is currently exploring options to cure the Default and protect the Assets of the Company.
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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.
| Date: January 17, 2014 | ||
| CEREPLAST, INC. | ||
| /s/ Frederic Scheer | ||
| Frederic Scheer | ||
| Chief Executive Officer | ||
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