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): January 30, 2010
Waste2Energy Holdings, Inc.
(Exact name of registrant as specified in its charter)
Delaware | | 333-151108 | | 26-2255797 |
(State of Jurisdiction
of Incorporation) | | (Commission File
Number) | | (I.R.S. Employer
Identification Number) |
1 Chick Springs Road, Suite 218
Greenville, South Carolina 29609
(Address of principal executive offices) (zip code)
(864) 679-1625
(Registrant’s telephone number, including area code)
Copies to:
Marc Ross, Esq.
Sichenzia Ross Friedman Ference LLP
61 Broadway
New York, New York 10006
Phone: (212) 930-9700
Fax: (212) 930-9725
N/A
(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 (see General Instruction A.2. below):
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o 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.
On January 25, 2010, the common stock of Waste2Energy Holdings, Inc. (the “Company”) was removed from trading on the OTC:BB and as a result the Company is in default on its 12% Convertible Debentures having an aggregate principal balance of $5,830,447 (the “Default”). As a result of the Default, the outstanding principal amount of the Debentures, plus accrued but unpaid interest, and any other amounts due thereon is, at the Debenture holders’ election, immediately due and payable at the mandatory default amount, as defined in the Debenture agreement. The Company has not received notice for demand for payment from any of the Debenture Holders as of the date of this filing. Additionally, as a result of the Default, the interest rate on the Debenture is now the lesser of the 17% per annum or the maximum rate permitted under applicable state law.
SIGNATURES
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.
| WASTE2ENERGY HOLDINGS, INC. |
| | |
Dated: February 4, 2010 | By: | /s/ Craig L. Brown |
| | Name: Craig Brown |
| | Title: Chief Financial Officer |
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