SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
The Securities Exchange Act of 1934
July 2, 2002
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Date of Report (Date of earliest event reported
Cyclo3pss Corporation
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(Exact name of Registrant as specified in its charter)
Delaware 0-22720 87-0455642
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State of Incorporation Commission File No. IRS Employer
Identification No.
7105 South Highland Drive, Suite #102
Salt Lake City, UT 84121
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Address of principal executive offices
(801) 972-9090
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(Registrant's telephone number)
Item 5. Other Information.
Changes in Registrant's Financial Condition and Operating Status
The Board of Directors of Cyclo3pss Corporation (the "Company") has determined
to suspend all operations of the Company immediately due to an inability to
locate willing investors and to secure necessary and suitable financing.
The Management and staff of the Company have working for several months
without compensation and have been individually advancing monies to the
Company as needed during this period to maintain operations. However a long
term solution to the cash requirements has not materialized, and the
individuals contributing have exhausted their personal ability to support the
Company's activities.
On June 27, 2002 The Company received a Demand For Payment from The Procter &
Gamble Company, its sole secured creditor, for $575,000., plus any interest
accrued and due and payable to be paid on or before July 2, 2002. (see
attached exhibit "1") The Demand for Payment resulted from the Company's
notification to The Procter & Gamble Company of it's inability to continue
operations and failure to meet the terms of compliance governing the loan.
The note is secured by all of the Company's assets which include it's patents,
trademarks, technologies, technology licenses and royalty streams. Upon
foreclosure of the loan those assets will then become the property of The
Procter & Gamble Company.
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, thereunto duly authorized.
Date: July 2, 2002
CYCLO3PSS
By: William R. Stoddard
/s/William R. Stoddard
CEO
Principal Executive Officer
EXHIBIT INDEX
The following exhibits are filed herewith:
Number Description
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99 Demand Letter from Procter & Gamble dated June 27, 2002.