8-K 1 capsource073478_8k.htm FORM 8-K DATED AUGUST 17, 2007 CapSource Financial, Inc. Form 8-K Dated August 17, 2007
 
 

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 17, 2007

 

CapSource Financial, Inc.

(Exact Name of Registrant as Specified in Charter)

 

Colorado

1-31730

84-1334453

(State or Other Jurisdiction of
Incorporation)

(Commission File Number)

(IRS Employer Identification No.)

 

2305 Canyon Boulevard, Suite 103

Boulder, CO

80302

(Address of Principal Executive Offices)

(Zip Code)

      

 

Registrant’s telephone number, including area code:

(303) 245-0515

 

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:

 

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 August 17, 2007 the Company’s Mexican operating subsidiary, Remolques y Sistemas Aliados de Transportación, S.A. de C.V. (“RESALTA”), entered into a Pesos 44.0 million (Mexican) (equivalent to approximately $4.0 million U.S. on the date of the borrowing) short-term loan agreement with Pure Leasing, S.A. de C. V. of Mexico City. Pure Leasing, S.A. de C. V. is one of RESALTA’s largest customers. The term of the loan is for a period of 180 days, but provides that RESALTA must repay 50% of the loan 30 days from the date of the borrowing. The interest rate under the loan is the Mexican Interbank Borrowing Rate plus 4.0% (currently 11.7%). Interest on the borrowing is paid monthly. The note is secured by RESALTA’s inventory of trailers not otherwise pledged against borrowings. RESALTA will use the proceeds for working capital, some of which will be used to pay RESALTA’s supplier, Hyundai Translead for trailers currently held in inventory. The maturity date for repayment of the amount due Pure Leasing, S.A. de C. V. can be accelerated if the Company fails to perform any of its obligations under the Agreement.

Item 2.03

Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

 

The disclosure set forth above in Item 1.01 is incorporated by reference into this Item 2.03.

 


Item 9.01

Financial Statements and Exhibits

 

(d)        The Company intends to provide an English translation of the loan agreement under cover of its next Form 10-QSB within the time allowed for such filing.

 





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SIGNATURE

 

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.

 

 

CAPSOURCE FINANCIAL, INC.
(Registrant)

 

 

Date: August 23, 2007 

By:  

/s/ Steven E. Reichert

 

 

Name:

Steven E. Reichert

 

 

Title:

Vice President and General Counsel

 

 

 

 









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