Earthfirst Technologies Inc - Current report filing (8-K)
2007年11月27日 - 7:24AM
Edgar (US Regulatory)
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: November 21, 2007
(Date of earliest event reported)
EarthFirst Technologies, Incorporated
(Exact name of registrant as specified in its charter)
Florida 0-23897 59-3462501
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(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification
incorporation) Number)
2515 E. Hanna Avenue, Tampa, Florida 33610
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number including area code (813) 238-5010
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
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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-4c under the Exchange
Act (17 CFR 240.13e-4c)
Item 8.01 Other Events
On November 21, 2007, the Company was served with a lawsuit in the United
States District Court for the Middle District of Florida entitled Laurus Master
Fund, Ltd. v. EarthFirst Technologies, Incorporated ("EarthFirst") , et al. Case
# 8 07 CV 2723-T27EA. In its complaint Laurus is seeking relief against
EarthFirst and certain of its subsidiaries, not including SolarDiesel
Corporation ("SolarDiesel"). In Count I Laurus seeks to recover damages in
excess of a claimed $8,500,000 for the Company's alleged breach of loan and
forbearance agreements. In Counts II and III, Laurus seeks to foreclose on all
collateral pledged to Laurus by EarthFirst and certain of its subsidiaries,
except SolarDiesel. If successful, Laurus could force the judicial sale of all
EarthFirst and certain of its subsidiaries (not including SolarDiesel's) assets
to satisfy its indebtedness, and if any balance remained, seek to obtain a
deficiency judgment for this balance. If successful, Laurus could also seek to
obtain a money judgment in the full amount of its indebtedness, unpaid interest
and legal fees. The Company has 20 days to respond to this lawsuit and is
considering its options and defenses.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the Registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
EarthFirst Technologies, Incorporated
By: /s/ Frank W. Barker
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Frank W. Barker
Chief Financial Officer
Dated: November 26, 2007
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