Galaxy Energy Corp - Current report filing (8-K)
January 03 2008 - 4:59PM
Edgar (US Regulatory)
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):
December 28, 2007
GALAXY
ENERGY CORPORATION
(Exact
name of registrant as specified in its charter)
Colorado
(State
or other jurisdiction of
incorporation)
|
0-32237
(Commission
File
Number)
|
98-0347827
(IRS
Employer
Identification
No.)
|
1331
– 17
th
Street,
Suite 730, Denver, Colorado 80202
(Address
of principal executive offices)(Zip Code)
(303)
293-2300
Registrant's
telephone number, including area code
Not
applicable
(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))
Item
2.03
|
Creation
of a Direct Financial Obligation or an Obligation under an Off-Balance
Sheet Arrangement of a Registrant
|
On
December 28, 2007, the registrant executed a subordinated unsecured promissory
note for $600,000 in favor of Partner Marketing AG. Interest accrues
at the rate of 8% per annum and the note matures on the later of April 26,
2008
or the time at which the registrant’s senior indebtedness has been paid in
full. In connection with this loan, the registrant and the lender
have submitted a subordination agreement for execution by the holders
of the senior indebtedness.
Proceeds
of the loan will be used to support the registrant’s operations and to reduce
the amounts owed under the senior indebtedness.
Item
9.01
Financial Statements and Exhibits
Regulation
S-K
Number
|
Document
|
10.1
|
Subordinated
Unsecured Promissory Note dated December 28, 2007
|
10.2
|
Subordination
Agreement dated December 28, 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.
|
GALAXY
ENERGY CORPORATION
|
January
3, 2008
|
By:
/s/
Christopher
S.
Hardesty
Christopher
S. Hardesty
Senior
Vice President and
Chief
Financial Officer
|
EXHIBIT
INDEX
Regulation
S-K
Number
|
Document
|
10.1
|
Subordinated
Unsecured Promissory Note dated December 28, 2007
|
10.2
|
Subordination
Agreement dated December 28, 2007
|
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