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):||April 30, 2007|
CONVERTED ORGANICS INC.
(Exact name of registrant as specified in its charter)
(State or other jurisdiction
|of incorporation)||File Number)||Identification No.)|
|7A COMMERCIAL WHARF WEST, BOSTON, Massachusetts||02110|
(Address of principal executive offices)
|Registrants telephone number, including area code:||617-624-0111|
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:
[ ] 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 2.04 Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation Under an Off-Balance Sheet Arrangement.
The Company has reached agreements in principal which permit the Company to refinance its outstanding current debt obligations including a Bridge Loan of $1,515,000, term notes of $375,000 and demand notes of $150,000. Under the terms of the current debt agreements, the maturity dates on each of the debt instruments have expired. However, the Company has not received any notices of default due to the expiration of maturity dates. The Company expects to sign formal agreements with each of the lenders by May 15, 2007.
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.
|CONVERTED ORGANICS INC.|
|April 30, 2007||By:||
/s/ Edward J. Gildea
|Name: Edward J. Gildea|
|Title: President, Chairman and CEO|