8-K: Current report filing
Published on May 16, 2007
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UNITED
STATES
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SECURITIES
AND EXCHANGE COMMISSION
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Washington,
D.C. 20549
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FORM
8-K
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CURRENT
REPORT
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Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Date
of Report: May 9, 2007
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VISUALANT,
INCORPORATED
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(Exact
name of Registrant as specified in its charter)
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Nevada
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0-25541
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91-1948357
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(State
or jurisdiction of incorporation)
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(Commission
File No.)
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(IRS
Employer Identification No.)
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500
Union Street, Suite 406
Seattle,
Washington 98101
(206)
903-1351
(Address
of Registrant’s principal executive
office
and telephone number)
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Section
8 - Other Events
Item
8.01 Other Events.
On
May 7,
2007, the Company entered into a Line of Credit Agreement
with
Coventry Capital LLC., a Delaware company, pursuant to which Coventry Capital
will provide the Company with a $1 million convertible line of credit. The
line
of credit may be increased up to $3 million in the event the Company achieves
certain performance criteria. The borrowed funds will bear interest at the
rate
of 10% per annum, and are due in full on May 7, 2010. Coventry Capital, however,
has the right to convert all or part of the indebtedness into common stock
of
the Company.
Section
9 - Financial Statements and Exhibits
Item
9.01 Exhibits.
The
following exhibit is filed as part of this report:
Exhibit
99.1 Press
Release of Visualant, Inc. dated May 9, 2007.
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.
| Registrant: VISUALANT, INCORPORATED | ||
| By: /s/ Bradley E. Sparks, CEO | ||
| Dated: May 9, 2007 |