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): March 12, 2002
Environmental Oil Processing Technology Corporation
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(Exact name of registrant as specified in its charter)
Utah 000-29509 82-0520055
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(State or other jurisdiction of (Commission File No.) (I.R.S. Employer
incorporation) Identification No.)
2801 Brandt Avenue, Nampa, Idaho 83687
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: 208-463-0063
Not Applicable
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(Former name or former address, if changed since last report)
Item 5. Other Events.
On March 19, 2002, the Registrant announced that the civil action filed
by the former owners of the Corporation's subsidiary, Project Development
Industries, L.L.C. ("PDI") against the Corporation was dismissed on March 12,
2002 and that the parties entered into a Separation Agreement, Settlement
Agreement and Mutual Release dated March 4, 2002 (the "Settlement Agreement").
Pursuant to the Settlement Agreement, PDI will no longer be a subsidiary of the
Registrant and ownership will be returned to the former owners of PDI prior to
the Share Purchase Agreement between the Registrant and PDI dated February 1999.
Further information regarding the civil action and Settlement Agreement
is set forth in the Registrant's press release dated March 19, 2002, attached as
Exhibit 99.1 and incorporated herein by reference.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
Exhibit 99.1-- Press Release dated March 19, 2002
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.
Date: March 19, 2002 ENVIRONMENTAL OIL PROCESSING
TECHNOLOGY CORPORATION
By: /s/ N. Tod Tripple
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N. Tod Tripple
President