-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, DQLLEzVJ/VgYotzzmdBOq5yhVk9GR6EFeLR2zqQpVGGGHsHgw4GKjXwNL2ehGZnx cdkumNc8FmQBnXHrIaD7Pw== 0000899140-03-000374.txt : 20030421 0000899140-03-000374.hdr.sgml : 20030421 20030421145604 ACCESSION NUMBER: 0000899140-03-000374 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20030417 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20030421 FILER: COMPANY DATA: COMPANY CONFORMED NAME: HAUSER INC CENTRAL INDEX KEY: 0000773723 STANDARD INDUSTRIAL CLASSIFICATION: MEDICINAL CHEMICALS & BOTANICAL PRODUCTS [2833] IRS NUMBER: 840926801 STATE OF INCORPORATION: DE FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-17174 FILM NUMBER: 03656781 BUSINESS ADDRESS: STREET 1: 5555 AIRPORT BLVD CITY: BOULDER STATE: CO ZIP: 80301 BUSINESS PHONE: 3034434662 MAIL ADDRESS: STREET 1: 5555 AIRPORT BLVD CITY: BOULDER STATE: CO ZIP: 80301 FORMER COMPANY: FORMER CONFORMED NAME: NITTANY VENTURES INC DATE OF NAME CHANGE: 19860805 FORMER COMPANY: FORMER CONFORMED NAME: HAUSER CHEMICAL RESEARCH INC DATE OF NAME CHANGE: 19920703 8-K 1 aus1197139.txt CURRENT REPORT 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): April 17, 2003 -------------- HAUSER, INC. ---------------------- (Exact name of registrant as specified in its charter) Delaware 0-17174 84-0926801 -------- ------- ---------- (State or other (Commission File (IRS Employer jurisdiction Number) Identification of incorporation) No.) 840 Apollo Street, Suite 209 El Segundo, California 90245 ---------------------- ----- (Address of principal Zip Code executive offices) Registrant's telephone number, including area code: (310) 648-7881 -------------- Registrant's Former Address: 20710 S. Alameda Street Long Beach, California 90810-1107 --------------------------------- Item 5. Other Events. On April 17, 2003, Hauser, Inc., a Delaware corporation (the "Company"), announced that it had arranged, and the United States Bankruptcy Court for the Central District of California (the "Bankruptcy Court") had approved, a cash collateral stipulation with Wells Fargo Bank, N.A., the Company's senior lender. The use of cash pursuant to the cash collateral stipulation has been approved by the Bankruptcy Court for a 60-day period. At the end of the 60-day period, Hauser will need to seek approval of the Bankruptcy Court to continue to use the cash collateral. Access to cash pursuant to this stipulation is subject to compliance by Hauser and its subsidiaries with certain conditions to the stipulation. On April 17, 2003, the Company issued a press release relating to the foregoing, a copy of which is attached hereto as Exhibit 99.1 and is incorporated herein by reference. Item 7. Financial Statements and Exhibits. 99.1 Press Release, dated April 17, 2003. - 2 - 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. HAUSER, INC. Dated: April 21, 2003 By: /s/ Kenneth C. Cleveland ------------------------- Name: Kenneth C. Cleveland Title: President and Chief Executive Officer - 3 - Exhibit Index Exhibit No. Description - ----------- ----------- 99.1 Press Release, dated April 17, 2003. EX-99.1 4 aus1197407.txt PRESS RELEASE HAUSER RECEIVES COURT APPROVAL TO USE CASH COLLATERAL El Segundo, CA and Longmont, CO - April 17, 2003 -- Hauser, Inc. (OTCBB:HAUS) today said it, and its wholly owned subsidiaries, Botanicals International Extracts, Inc., Hauser Technical Services, Inc. and ZetaPharm, Inc., has arranged a cash collateral stipulation with its bank, Wells Fargo Bank, N.A. The use of cash pursuant to the cash collateral stipulation has been approved by the U.S. Bankruptcy Court for a 60-day period. At the end of the 60-day period, Hauser will need to seek court approval to continue to use cash collateral. This cash will help the company fulfill employee payroll, payments to vendors for goods and services and other obligations associated with operating their businesses after filing voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code with the U.S. Bankruptcy Court for the Central District of California. Access to cash pursuant to this stipulation is subject to compliance by Hauser and its subsidiaries with certain conditions. "With this cash, Hauser will continue to do business and move forward to implement our reorganization plan. We appreciate the support of our lender and look forward to working with our creditors to achieve a successful reorganization process," said Kenneth Cleveland, president and chief executive officer. "We continue to evaluate a number of alternatives that would permit the company to satisfy its cash needs and emerge from bankruptcy." Hauser, headquartered in El Segundo, California and Longmont, Colorado, is a leading supplier of herbal extracts and nutritional supplements. Hauser also provides chemical engineering services and contract research and development. Hauser's products and services are principally marketed to the pharmaceutical, dietary supplement and food ingredient businesses. Hauser's business units include: Botanicals International Extracts and Hauser Contract Research Organization. Hauser also does business using the dba BI Nutraceuticals. Certain oral and written statements included in this Press Release and elsewhere may contain forward-looking statements within the meaning of Section 27A of the Securities Exchange Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which are intended to be covered by the safe harbors created thereby. These statements include the plans and objectives of management for future operations. The forward-looking statements included herein and elsewhere are based on current expectations that involve judgments which are difficult or impossible to predict accurately and many of which are beyond the control of the Company. Although the Company believes that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could be inaccurate and, therefore, there can be no assurance that the forward-looking statements will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements, the inclusion of such information should not be regarded as a representation by the Company or any other person that the objectives and plans of the Company will be achieved. CONTACTS: Kenneth C. Cleveland President and Chief Executive Officer Hauser, Inc. (310) 648-7881 Investors and News Media: Robert Jaffe/Cecilia Wilkinson PondelWilkinson MS&L (323) 866-6060 investor@pondel.com -----END PRIVACY-ENHANCED MESSAGE-----