U. S. SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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): September 20, 2007
BALTIC INTERNATIONAL USA, INC.
(Exact name of registrant as specified in its charter)
TEXAS 1-12908 76-0336843
(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
2925 Briarpark Dr., Suite 930, Houston, Texas 77042
(Address of principal executive offices, including zip code)
Registrant's telephone number, including area code: (713) 961-9299
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):
[ ] 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 8.01 Other Events
On September 24, 2007, the Registrant issued a press release
announcing it signed of a Letter of Intent to execute a Share
Purchase Agreement for the purchase of Miller Plating and Metal
Finishing LLC. The parties expect to close the transaction prior to
the end of 2007. The press release is attached hereto as Exhibit
99.1.
Item 9.01 Financial Statements and Exhibits
(c) Exhibits
99.1 News Release dated September 24, 2007
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.
BALTIC INTERNATIONAL USA, INC.
By: /s/ David A. Grossman
DAVID A. GROSSMAN
Chief Financial Officer
Dated: September 24, 2007
Exhibit 99.1
Baltic International USA, Inc.
2925 Briarpark Dr., Suite 930, Houston, Texas 77042
NEWS RELEASE
Contacts:
Baltic International USA, Inc. Miller Plating and Metal Finishing LLC
Robert L. Knauss, Russell L Scalfano ,
Chief Executive Officer Chief Executive Officer
David A. Grossman, Telephone: (812) 424-3837
Chief Financial Officer Facsimile: (812) 424-4995
Telephone: (713) 961-9299
Facsimile: (832) 415-0143
FOR IMMEDIATE RELEASE
Baltic Announces Letter of Intent to
Acquire Metal Plating and Finishing Company
HOUSTON, Texas, September 24, 2007 -- Baltic International USA, Inc. (BISA)
announced today that the company has signed a letter of intent for its
subsidiary, B-L Merger Sub, Inc. to acquire all of the stock of Miller Plating
and Metal Finishing LLC ("Miller") in exchange for common stock of B-L Merger
Sub. Miller specializes in plating metals such as magnesium, aluminum, zinc,
copper, powdered metals, steel and various other substrates. This transaction
is subject to the combined company obtaining financing agreeable to both Baltic
and Miller and shareholder approval for both companies.
Baltic's chairman and CEO, Robert Knauss, stated, "Miller has been in business
for over 90 years and has good potential for significant growth. We expect to
complete this transaction by the end of this year through a reverse merger with
our subsidiary. Our plan is to change our subsidiary's name to Miller and to
spin-off a significant part of our interest in the subsidiary to our
shareholders. We believe that this transaction with Miller will increase our
shareholder value."
Miller's CEO, Russell L Scalfano, stated, "Our management team is excited about
becoming a public company and having access to the potential financing
opportunities that will enable Miller to reach its goals. Miller was formed to
provide state-of-the-art plating and metal finishing. We are always trying to
develop new plating and finishing processes for the future."
Miller has its principal offices in Evansville, Indiana. Miller has achieved
ISO 9001:2000 certification to become one of a few plating shops in the United
States to have this certification. Miller continues to service the needs of
Ford, Chrysler and General Motors, as well as customers who supply after-market
parts. Miller's homepage is www.millerplating.com.
Baltic is currently a public shell company and is reviewing various
opportunities to increase shareholder value.
This document may contain forward-looking information. Although the Company
believes that the assumptions underlying the forward-looking statements are
reasonable, any of the assumptions could be inaccurate, and therefore, there
can be no assurance that the forward-looking statements included herein will
prove to be accurate.