-----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, Gcse0jxq3YFpSFItmMLq70c60jHOvtKSK3CY322RtuqtnBb+VoeMbVC2SA12lF/v aCYRBkH63FmNfV45SNaYhQ== 0000936392-03-000752.txt : 20030520 0000936392-03-000752.hdr.sgml : 20030520 20030519184356 ACCESSION NUMBER: 0000936392-03-000752 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20030514 ITEM INFORMATION: Financial statements and exhibits ITEM INFORMATION: Regulation FD Disclosure FILED AS OF DATE: 20030520 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PLANET POLYMER TECHNOLOGIES INC CENTRAL INDEX KEY: 0000896861 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMMERCIAL PHYSICAL & BIOLOGICAL RESEARCH [8731] IRS NUMBER: 330502606 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-26804 FILM NUMBER: 03711260 BUSINESS ADDRESS: STREET 1: 9985 BUSINESS PARK AVE STE A CITY: SAN DIEGO STATE: CA ZIP: 92131 BUSINESS PHONE: 8585495130 MAIL ADDRESS: STREET 1: 9985 BUSINESSPARK AVE STREET 2: STE A CITY: SAN DIEGO STATE: CA ZIP: 92131 FORMER COMPANY: FORMER CONFORMED NAME: PLANET POLYMER TECHNOLOGY INC DATE OF NAME CHANGE: 19950511 8-K 1 a90401e8vk.htm FORM 8-K Planet Polymer Technologies, Inc.
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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): May 14, 2003

Planet Polymer Technologies, Inc.

(Exact name of registrant as specified in its charter)

California
(State or other jurisdiction of incorporation)

     
0-26804   33-0502606
(Commission File No.)   (IRS Employer Identification No.)

9985 Businesspark Avenue, Suite C
San Diego, California 92131
(Address of principal executive offices and zip code)

Registrant’s telephone number, including area code: (858) 549-5131

 

ITEM 12. RESULTS OF OPERATIONS AND FINANCIAL CONDITION.
ITEM 7(C). EXHIBITS
SIGNATURE
EXHIBIT 99.1

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ITEM 12. RESULTS OF OPERATIONS AND FINANCIAL CONDITION.

     On May 15, 2003, Planet Polymer Technologies, Inc., filed its Quarterly Report on Form 10-QSB for the quarter ended March 31, 2003, with the Securities and Exchange Commission. In connection with the filing of the Form 10-QSB, Planet Polymer Technologies, Inc., issued a press release dated May 13, 2003, announcing its financial results for the first quarter of the 2003 fiscal year. A copy of the press release is attached hereto as Exhibit 99,1.

LIMITATION ON INCORPORATION BY REFERENCE.

     In accordance with general instruction B.6 of Form 8-K, the information in this report and the attached exhibit is furnished pursuant to Item 12 and shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section.

ITEM 7(C). EXHIBITS

  99.1   Press Release dated May 14, 2003

     This Current Report on Form 8-K contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The Company intends that such statements shall be protected by the safe harbors provided for in such sections. Such statements are subject to risks and uncertainties that could cause the Company’s actual results to vary materially from those projected in such forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to those discussed in the section entitled “Risk Factors,” and in “Item 6 — Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the Company’s latest Form 10-KSB filed with the S.E.C.

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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 hereunto duly authorized.

         
        PLANET POLYMER TECHNOLOGIES, INC
 
Dated: May 19, 2003     By: /s/ H.M. Busby
       
        H.M. Busby
        Chief Executive Officer and President

3 EX-99.1 3 a90401exv99w1.txt EXHIBIT 99.1 Exhibit 99.1 PLANET POLYMER TECHNOLOGIES HAS SMALL FIRST EVER PROFIT San Diego, CA-May 13, 2003-Planet Polymer Technologies, Inc. (OTC BB: POLY.OB) a San Diego advanced materials company, reported revenues for the quarter ending March 31, 2003 of $156,620 and a net profit of $722 compared to revenues of $35,531 and loss of $155,041 for the same period in 2002. The small profit resulted in (.00) per share compared to a loss of (.02) in 2002. . Planet and Agway Inc., entered into two separate Sales and Licensing Agreements that redefine previous agreements relating to the agricultural feed and fruit and vegetable coating technologies developed by Planet. Agway's up-front payment of $130,000 was the primary reason for Planet's small, first ever quarterly profit. Agway also agreed to return all of its 3,000,000 shares in Planet common stock, which represents approximately one-third of the issued and outstanding shares of Planet. Ryer Industries defaulted on its obligations to Planet to pay the remaining balance of the purchase price for Planet's metal injection molding technology and assets. Planet repossessed those assets in April and resold them in May to Ryer Enterprises, LLC, a newly formed entity which intends to continue the commercialization of the AQUAMIM products. The sales price is $301,000 with a down payment of $25,000 and twenty-four monthly payments of $11,500 commencing June 1, 2003. Ryer will also pay a monthly royalty for 8 years. . The focus of the Company's limited activities will be to help Agway or their successor(s) fully commercialize their agrotechnology businesses and to help Ryer Enterprises successfully penetrate the metal injection molding market. There will be little, if any, marketing or new development work as the Company strives to maximize its net royalty income from existing product technologies. Planet Polymer Technologies, Inc. is an advanced materials company that develops and licenses unique water-soluble polymer and biodegradable materials with broad applications in the fields of agriculture and industrial manufacturing. Except for the historical information contained herein, this news release contains forward-looking statements which involve risks and uncertainties, including the risk that actual results could differ materially from the results that may be indicated by such forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, the development and market acceptance of new products and technologies, and market conditions as well as other risks detailed from time to time in Planet Polymer's SEC reports, including the report on Form 10-KSB for the year ended December 31, 2003. Contact 858-549-5131 -----END PRIVACY-ENHANCED MESSAGE-----