-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, QF2CtnWc9L2Hp5alJhyeTSZld+84bNaODDuXi1F1V9Zc5em2gWGjZZpMbUQfxEio M9d5kRY+bI1Tq6WQpBZYlg== 0001171843-10-000497.txt : 20100331 0001171843-10-000497.hdr.sgml : 20100331 20100331172742 ACCESSION NUMBER: 0001171843-10-000497 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20100326 ITEM INFORMATION: Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant FILED AS OF DATE: 20100331 DATE AS OF CHANGE: 20100331 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ADVANCED ENVIRONMENTAL RECYCLING TECHNOLOGIES INC CENTRAL INDEX KEY: 0000849706 STANDARD INDUSTRIAL CLASSIFICATION: MILLWOOD, VENEER, PLYWOOD & STRUCTURAL WOOD MEMBERS [2430] IRS NUMBER: 710675758 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-10367 FILM NUMBER: 10720757 BUSINESS ADDRESS: STREET 1: 914 N. JEFFERSON STREET STREET 2: - CITY: SPRINGDALE STATE: AR ZIP: 72764 BUSINESS PHONE: 479-756-7400 MAIL ADDRESS: STREET 1: - STREET 2: P.O. BOX 1237 CITY: SPRINGDALE STATE: AR ZIP: 72765 8-K 1 f8k_033110.htm FORM 8-K
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): March 26, 2010
 
Advanced Environmental Recycling Technologies, Inc.
(Exact name of registrant as specified in its charter)
 
 
Delaware  1-10367 71-0675758
(State or other jurisdiction
of incorporation or organization)
(Commission File Number) 
 
(I.R.S. Employer Identification No.)
 
 
 
914 N Jefferson Street 
Springdale, Arkansas 
 
72764
(Address of Principal Executive Offices) (Zip Code)
 
Registrant’s telephone number, including area code  (479) 756-7400
 
Not Applicable
(Former name and 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 2.03
Creation of a Direct Financial Obligation or an Obligation under an Off- Balance Sheet Arrangement of a Registrant.

On March 26, 2010, Advanced Environmental Recycling Technologies, Inc. (AERT) entered into an agreement with Allstate Insurance Company (Allstate) extending the maturity date of a loan in the amount of $800,000 from July 1, 2009 to July 15, 2010.  The loan bears interest at a fixed rate of 19.75%.  Principal payments of $200,000 per month for four months begin April 15, 2010.  All other terms of the loan were substantially unchanged.

On March 26, 2010, AERT also entered into an agreement with Allstate extending the maturity date of a loan in the amount of $5,668,056 from July 1, 2009 to December 15, 2011.  The loan bears interest at a fixed rate of 10%.  Payments of $63,000 per month begin April 15, 2011, with the remaining balance of the loan due at maturity, along with a premium of 5% of the original principal amount of the loan.  All other terms of the loan were substantially unchanged.


 
 
 

SIGNATURE

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, thereunto duly authorized.

 
ADVANCED ENVIRONMENTAL RECYCLING
TECHNOLOGIES, INC.
 

By: /s/     Joe Brooks
Joe Brooks                                              
Chairman and Chief Executive Officer
 
Date: March 31, 2010
 
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