- Current report filing (8-K)
01 Oktober 2012 - 7:30PM
Edgar (US Regulatory)
UNITED STATES
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): September 29, 2012
China Energy Recovery, Inc.
(Exact name of registrant as specified in
its charter)
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Delaware
(State or other jurisdiction
of incorporation)
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000-53283
(Commission
File Number)
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33-0843696
(IRS Employer
Identification No.)
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Building#26, No. 1388 Zhangdong Road
Zhangjiang Hi-tech Park
Shanghai, China
(Address of principal executive offices)
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201203
(Zip Code)
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Registrant’s telephone number, including
area code
(86) 021 2028-1866
(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 Instructions
A.2. below):
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Written communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o
Soliciting material
pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 1.01 — Entry into a Material Definitive Agreement
On September 29, 2012, Shanghai Hai Lu Kun Lun Hi-tech Engineering
Co., Ltd. (“Shanghai Engineering”), a consolidated variable interest entity of China Energy Recovery, Inc. (“CER”),
entered into a one-year comprehensive credit facility with Shanghai Rural Commercial Bank. The facility is for RMB 30,000,000
(approximately $4,732,458) and can be used for working capital or similar purposes. The period of the comprehensive line of credit
is from September 29, 2012 to September 29, 2013, and carries an annual interest rate of 6.9%. This facility is guaranteed by
Mr. Qinghuan Wu, the Company’s Chief Executive Officer, and collateralized by a building in Shanghai owned by Jiangsu SOPO
(Group) Company Limited (“Jiangsu SOPO”), a non-affiliated third party of CER. Since this building had previously
been collateralized under a facility agreement entered into with Industrial and Commercial Bank of China Limited, Shanghai Zhangjiang
branch, this borrowing with the Shanghai Rural Commercial Bank will replace the existing Industrial and Commercial Bank of China
facility.
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.
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China Energy Recovery, Inc.
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Date: October 1, 2012
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By:
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/s/ Qinghuan Wu
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Qinghuan Wu
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Chief Executive Officer
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