SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): January 3, 2013
(Exact name of registrant as specified in its charter)
Registrants telephone number, including area code: (310) 615-1900
(Former name or 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:
Item 2.04 Triggering Events that Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement Entry into a Material Definitive Agreement
On January 3, 2013, Cereplast, Inc. (the Company) received a Notice of Event of Default (the Notice) from Wells Fargo Bank, National Association, the Trustee under the Indenture (the Indenture) dated as of May 24, 2011by and among the Company and the Trustee, with respect to the Companys 7% Convertible Senior Subordinated Notes (the Notes). The Notice was triggered by the failure of the Company to pay on December 1, 2012 pursuant to the terms of the Forbearance Agreements dated as of May 31, 2012 entered into with the holders of the Notes, interest in the amount of $332,500 that was due on June 1, 2012 and interest in the amount of $332,500 due on December 1, 2012. The Notes in the aggregate amount of $12,500,000 were originally issued pursuant to the Indenture on May 24, 2011. As of the date of this current report an aggregate amount of $10,000,000 of the Notes remain outstanding.
The Company is currently in negotiations with the holders of the Notes to reach an agreement to pay the outstanding interest payments.
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.