UNITED STATES
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) August 11, 2005
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Touchstone Resources USA, Inc.
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(Exact Name of Registrant as Specified in its Charter)
Delaware 50228 33-0967974
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(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
111 Presidential Boulevard,
Suite 165
Bala Cynwyd, Pennsylvania 19004
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code (610) 771-0680
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(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 (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))
Section 2 - Financial Information
Item 2.06 Material Impairments.
On August 11, 2005, our wholly-owned subsidiary, PF Louisiana, LLC, a
Delaware limited liability company ("PF Louisiana"), elected not to make the
delay rental payment with respect to State Lease #18219 located in Ibera Parish,
Louisiana. The lease covered 1,030.54 acres in Ibera Parish, Louisiana, being
the entire State Tract 36553. After evaluating the results of prior drilling on
the property and available geologic data, we determined that the actual and
estimated future costs to continue to explore the lease was not justified in
light of the projected amount of discoverable oil and gas in the leased
property. As a result, on August 15, 2005, we decided to impair our entire
investment in the lease which will result in an impairment charge of
approximately $450,000 which will not require any future cash expenditure.
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.
Touchstone Resources USA, Inc.
Date: August 18, 2005 By: /s/ Roger Abel
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Roger Abel
Chief Executive Officer