Galaxy Energy Corp - Current report filing (8-K)
March 17 2008 - 8:57AM
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):
March 13, 2008
GALAXY
ENERGY CORPORATION
(Exact
name of registrant as specified in its charter)
Colorado
(State
or other jurisdiction of
incorporation)
|
1-32682
(Commission
File
Number)
|
98-0347827
(IRS
Employer
Identification
No.)
|
1331
– 17
th
Street,
Suite 1050, 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
1.03 Bankruptcy
or Receivership
On March
14, 2008, Galaxy Energy Corporation (“Galaxy”) and its wholly-owned subsidiary,
Dolphin Energy Corporation (“Dolphin”), filed voluntary petitions for relief
under Chapter 11 of Title 11 of the United States Code (the “Bankruptcy Code”)
in the United States Bankruptcy Court for the District of Colorado (the “Court”)
(Jointly Administered Under Case Numbers 08-13164 for Galaxy and 08-13166 for
Dolphin). Galaxy and Dolphin will continue to operate their
businesses as “debtors-in-possession” under the jurisdiction of the Court and in
accordance with the applicable provisions of the Bankruptcy Code and the order
of the Court.
Item
2.03
|
Creation
of a Direct Financial Obligation or an Obligation under an Off-Balance
Sheet Arrangement of a Registrant
|
On March
13, 2008, the registrant executed an unsecured promissory note for $145,000 in
favor of Bruner Family Trust UTD March 28, 2005. Interest accrues at
the rate of 8% per annum and the note matures on July 11, 2008.
One of
the trustees of Bruner Family Trust UTD March 28, 2005 is Marc E. Bruner, the
president and a director of the registrant.
Proceeds
of the loan will be used to support the registrant’s operations.
Item
9.01 Financial
Statements and Exhibits
Regulation
S-K
Number
|
Document
|
|
|
10.1
|
Unsecured
Promissory Note dated March 13,
2008
|
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
|
March
14, 2008
|
By:
/s/ Christopher S.
Hardesty
Christopher
S. Hardesty
Senior
Vice President and
Chief
Financial Officer
|
2
EXHIBIT
INDEX
Regulation
S-K
Number
|
Document
|
|
|
10.1
|
Unsecured
Promissory Note dated March 13,
2008
|
3
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