- Current report filing (8-K)
March 13 2012 - 3:43PM
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): March 6, 2012
China Energy Recovery, Inc.
(Exact name of registrant as specified in
its charter)
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):
o
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 March 6, 2012, China Energy Recovery (Shanghai) Co.,
Ltd. (“CER Shanghai”), a wholly-owned subsidiary of China Energy Recovery, Inc. (the “Company”),
entered into a short-term comprehensive loan facility with the Bank of Communication, Shanghai Branch. The facility consists
of RMB 40,000,000 (approximately $6,300,000) for trade financing or similar purposes. CER Shanghai is entitled to draw down
RMB 40,000,000 (approximately $6,300,000) as a short-term loan or RMB 57,000,000 (approximately $9,000,000) as bank
acceptance notes after making cash deposit of RMB 17,000,000 (approximately $2,700,000) to the bank. Any amounts due under
the loan are repayable no later than January 20, 2013. The loan has been secured by a mortgage on the Company’s new office
building in Zhangjiang, Shanghai and guaranteed by Qinghuan Wu, the Company’s Chief Executive Officer.
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: March 13, 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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