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): August 22, 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

TABLE OF CONTENTS

	ITEM 12. RESULTS OF OPERATIONS AND FINANCIAL CONDITION.
	ITEM 7(C). EXHIBITS
SIGNATURE
EXHIBIT 99.2

ITEM 12. RESULTS OF OPERATIONS AND FINANCIAL CONDITION.

     On August 14, 2003, Planet Polymer Technologies, Inc., filed its Quarterly Report on Form 10-QSB for the quarter ended June 30, 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 August 22, 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 99,2.

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

99.2 Press Release dated August 22, 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.

2

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: August 22, 2003	By:	/s/ H.M. Busby
		H.M. Busby Chief Executive Officer and President

3 EX-99.2 3 a92709exv99w2.txt EXHIBIT 99.2 Exhibit 99.2 San Diego, CA-August 22, 2003-Planet Polymer Technologies, Inc. (OTC BB: POLY.OB) a San Diego advanced materials company, reported revenues for the quarter ending June 30, 2003 of $10,720 and a loss from operations of $97,848 compared to revenues of $43,238 and a loss from operations of $205,654 in 2002. During the second quarter ending June 30, 2003, Planet recognized a gain on sale of assets related to its metal injection molding technology of $278,548 resulting in a net profit for the second quarter of 2003 of $180,700 compared to a net loss of $185,709 for the same period of 2002. Second quarter profit per share was $.03, compared to a loss of $.02 in 2002. Year to date Planet has earned $181,202 compared to a loss of $340,750 during the first six months last year. Late in the first quarter, 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. In April of this year, Agway returned all of its 3,000,000 shares in Planet common stock, representing approximately one-third of the issued and outstanding shares of Planet. Ryer Enterprises LLP finalized purchase of Planet's metal injection molding assets for $301,000 and the licensing of related technology, requiring royalty payments to Planet for the next eight (8) years on sales by Ryer utilizing the technology. This transaction was primarily responsible for the quarterly profit. 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 successfully penetrate the metal injection molding market. There will be little, if any, marketing or new development work. Planet Polymer Technologies, Inc. is an advanced materials company that developed 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. -----END PRIVACY-ENHANCED MESSAGE-----

EX-99.2

                                                                    Exhibit 99.2

         San Diego, CA-August 22, 2003-Planet Polymer Technologies, Inc. (OTC
BB: POLY.OB) a San Diego advanced materials company, reported revenues for the
quarter ending June 30, 2003 of $10,720 and a loss from operations of $97,848
compared to revenues of $43,238 and a loss from operations of $205,654 in 2002.
During the second quarter ending June 30, 2003, Planet recognized a gain on sale
of assets related to its metal injection molding technology of $278,548
resulting in a net profit for the second quarter of 2003 of $180,700 compared to
a net loss of $185,709 for the same period of 2002. Second quarter profit per
share was $.03, compared to a loss of $.02 in 2002. Year to date Planet has
earned $181,202 compared to a loss of $340,750 during the first six months last
year.

         Late in the first quarter, 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. In April of this year, Agway returned all of its 3,000,000
shares in Planet common stock, representing approximately one-third of the
issued and outstanding shares of Planet.

         Ryer Enterprises LLP finalized purchase of Planet's metal injection
molding assets for $301,000 and the licensing of related technology, requiring
royalty payments to Planet for the next eight (8) years on sales by Ryer
utilizing the technology. This transaction was primarily responsible for the
quarterly profit.

         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 successfully penetrate the metal injection molding market. There will
be little, if any, marketing or new development work.

      Planet Polymer Technologies, Inc. is an advanced materials company that
developed 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.