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 earliest event reported) January 5, 2001.
WORKSAFE INDUSTRIES INC.
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(Exact name of registrant as specified in its charter)
Delaware 01-06855 11-1874010
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
130 West 10th Street, Huntington Sta., New York 11746
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (516) 427-1802
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(Former name or former address, if changed since last report.)
Item 5. Other Events.
On January 5, 2001 the Company ceased operations. Its officers and
directors have resigned. Primarily all of the assets of the Company
were subject to security agreements with Congress Financial Corp.
("Congress"). Congress is in the process of taking possession of the
assets, subject to its security agreements. The Company has been
unable to secure financing to continue its business, or to proceed
with a Chapter XI proceeding. It is anticipated that an involuntary
petition in bankruptcy will be filed, but the Company is not aware
that such a petition has yet been filed.
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.
Dated: January 10, 2001
WORKSAFE INDUSTRIES INC.
By: /s/ Arthur J. Wasserspring
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Arthur J. Wasserspring
Former Vice President of Finance
& Chief Financial Officer