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): February 14, 2003
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PALLET MANAGEMENT SYSTEMS, INC.
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(Exact name of registrant as specified in its charter)
Florida 000-24405 59-2197020
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(State or other (Commission File (IRS Employer
jurisdiction of Number) Identification No.)
incorporation)
2855 University Drive, Suite 510, Coral Springs, Florida 33065
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code (954) 340-1290
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(Former name or former address, if changed since last report)
ITEM 3. BANKRUPTCY OR RECEIVERSHIP.
On February 14, 2003, Pallet Management Systems, Inc., and certain of
its subsidiaries filed a voluntary petition for protection under Chapter 11 of
the United States Bankruptcy Code with the Bankruptcy Court for the Southern
District of Florida, Case Nos. 03/21040-BKC-RBR through 03-21043-BKC-RBR. In
connection with the filing, Pallet Management has arranged for short-term
interim financing from LaSalle Business Credit, LLC, in Chicago, Illinois.
Pallet Management has retained Genovese Joblove & Battista, P.A. as its
bankruptcy counsel and is currently operating its business as a
Debtor-in-Possession pursuant to Chapter 11.
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.
Date: February 26, 2003 PALLET MANAGEEMENT SYSTEMS, INC.
(Registrant)
By: /s/ Marc S. Steinberg
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Marc Steinberg, Vice President
And Chief Financial Officer
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