Form 8-K
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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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):
November 21, 2002 (November 1, 2002)
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WESTBURY METALS GROUP, INC.
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(Exact name of registrant as specified in its charter)
New York
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(State or other jurisdiction of incorporation)
033-42408 11-3023099
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(Commission File Number) (IRS Employer Identification Number)
210 Dartmouth Street, Pawtucket, Rhode Island 02860
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(Address of principal executive offices)
(401) 725-6800
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(Registrant's telephone number, including area code)
750 Shames Drive, Westbury, New York 11590
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(Former name or former address, if changed since last report)
Item 5. Other Events and Regulation FD Disclosure.
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The secured lenders of Westbury Metals Group, Inc., and its subsidiaries,
including Westbury Alloys, Inc., Westbury International, Inc., Westbury Realty
Management, Inc. and Reliable PrecMet, Inc. (f/k/a Reliable West-Tech, Inc.)
(collectively, "Westbury") who hold security interests in all of Westbury's
assets are in the process of executing on their security interests. As a result,
Westbury has terminated business operations and is in the process of liquidating
all of its assets. It currently appears that the proceeds from the disposition
of Westbury's assets will be insufficient to repay the secured debt, leaving no
funds to pay amounts owed to Westbury's vendors and other unsecured creditors
and no equity for Westbury's shareholders.
The Registrant was unable to renew its directors and officers liability
insurance and the directors of the Registrant have resigned.
Item 7. Financial Statements and Exhibits.
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(a) Financial Statements of Businesses Acquired.
Not applicable.
(b) Pro Forma Financial Information.
Not applicable.
(c) Exhibits.
Not applicable.
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.
WESTBURY METALS GROUP, INC.
By: /s/ Michael Huber
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Michael Huber
President and CEO
Date: November 21, 2002