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): ~~May~~July 2026, 2010

PANELTECH INTERNATIONAL HOLDINGS, INC.
(Exact name of registrant as specified in its charter)
Delaware	000-53896	20-4748555
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)
2999 John Stevens Way, Hoquiam, WA		98550
(Address of Principal Executive Offices)		(Zip Code)

PANELTECH INTERNATIONAL HOLDINGS, INC.

(Exact name of registrant as specified in its charter)

Delaware		000-53896		20-4748555
(State or Other Jurisdiction of Incorporation)		(Commission File Number)		(IRS Employer Identification No.)

2999 John Stevens Way, Hoquiam, WA		98550
(Address of Principal Executive Offices)		(Zip Code)

Registrant’s Telephone Number, Including Area Code: (360) 538-1480

(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 (see General Instruction A.2. below):

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ 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 ~~May~~July 2026, 2010, Paneltech ~~Products, Inc. (“Paneltech Products”), a wholly-owned subsidiary and principal operating business of Paneltech~~ International Holdings, Inc. (the “Registrant”), ~~entered~~and ~~into~~Collins aTimber ~~change~~Company inLLC ~~terms agreement dated May 14, 2010~~ (~~the~~ “~~CIT Agreement~~Collins”) ~~with~~entered ~~ShoreBank~~into ~~Pacific~~an ~~(“ShoreBank”)~~amendment into ~~connection with~~ that certain ~~Revolving~~Non-Negotiable ~~Line~~Promissory ofNote, ~~Credit~~dated inas ~~the amount~~ of ~~$900,000~~December ~~that matured on May 14~~23, ~~2010~~2009 (the “~~ShoreBank Facility~~Note”)~~. Under~~, ~~the~~made ~~terms~~by of the ~~CIT~~Registrant ~~Agreement~~in ~~(a)~~favor ~~the maturity date~~ of ~~the~~Collins. The ~~Shorebank~~Note ~~Facility~~amendment isprovides ~~extended~~for ~~to August 1, 2010;~~ (ba) ~~the~~a ~~Minimum Net Worth covenant must be greater than $400,000.00, including all sub~~30-~~debt~~day ~~and~~extension ~~preferred~~of ~~stock,~~the atdue ~~all~~date ~~times~~of ~~and as measured at~~ the ~~end~~Note offrom ~~each~~July ~~month;~~31, ~~(c)~~2010 ~~Debt~~ to ~~Net~~August ~~Worth~~30, ~~covenant must not exceed 12:1~~2010, ~~including all sub-debt~~ and ~~preferred stock, at all times as measured at the end of each month;~~ (db) ~~Maintain~~a ~~positive~~30-day ~~Earnings~~extension ~~before~~of ~~Interest,~~the ~~Taxes,~~outside ~~Depreciation~~maturity ~~and~~date ~~Amortization~~of ~~(EBITDA) as measured at~~ the ~~end~~Note offrom ~~each~~August ~~month;~~1, ~~and~~2010 ~~(e)~~to ~~the~~August ~~Cash~~31, ~~Flow Coverage covenant is eliminated~~2010.

~~The~~ On ~~foregoing~~July ~~description~~26, of2010, the ~~CIT~~Registrant ~~Agreement~~and ~~does~~Collins ~~not~~also ~~purport~~amended tothat becertain ~~complete~~Stock ~~and~~Repurchase isAgreement, ~~qualified~~dated inDecember ~~its~~23, ~~entirety~~2009, by ~~reference~~and tobetween the ~~full~~Registrant ~~text~~and ofCollins (the ~~CIT~~“Collins Repurchase Agreement”), ~~which~~to isprovide ~~attached~~for asthe ~~Exhibit~~30-day ~~10.~~extension of the outside maturity date of the Note from August 1, ~~hereto~~2010 to August 31, 2010.

~~ITEM 2~~R.03 ~~CREATION~~Wade OFMosby, Aa ~~DIRECT~~director ~~FINANCIAL~~of ~~OBLIGATION~~the ORRegistrant, ANis ~~OBLIGATION~~a ~~UNDER~~Senior ANVice ~~OFF-BALANCE~~President ~~SHEET~~of ~~ARRANGEMENT~~Collins OFPine ACompany, ~~REGISTRANT~~which owns approximately 64% of Collins.

The ~~information~~foregoing ~~set~~descriptions ~~forth~~of inthe ~~Item~~amendment ~~1.01~~to ofthe ~~this~~Note ~~Current~~and ~~Report~~the onamendment ~~Form~~to ~~8-K~~the isCollins ~~hereby~~Repurchase ~~incorporated~~Agreement do not purport to be complete and are qualified in their entirety by reference to the full text of the amendments, which are attached hereto as Exhibit 10.1 and Exhibit 10.2, respectively.

ITEM 5.07 SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

On July 26, 2010, the holders of all the issued and outstanding shares of the Series A Convertible Preferred Stock, $0.0001 par value per share, of the Registrant, acting by unanimous written consent without a meeting, adopted resolutions approving the amendment to the Note and the amendment to the Collins Repurchase Agreement.

The descriptions of the amendment to the Note and the amendment to the Collins Repurchase Agreement in Item 1.01 of this Current Report on Form 8-K are hereby incorporated by reference.

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS

(d) Exhibits

Exhibit No. Description

Exhibit No.		Description

10.1		Amendment No. 1 to Non-Negotiable Promissory Note between Registrant and Collins Timber Company LLC, dated July 26, 2010 (Non-Negotiable Promissory Note originally filed as Exhibit B to Collins Repurchase Agreement, filed as Exhibit 10.2 of Current Report on Form 8-K, filed December 30, 2009).

10.2		Amendment No. 1 to Stock Repurchase Agreement between Registrant and Collins Timber Company LLC, dated July 26, 2010.

10.1 Change in Terms Agreement between Paneltech Products, Inc. and ShoreBank Pacific, dated May 14, 2010

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: May 20, 2010	PANELTECH INTERNATIONAL HOLDINGS, INC.
Date: July 29, 2010	PANELTECH INTERNATIONAL HOLDINGS, INC.
	By:	/s/ Scott Olmstead
		Scott Olmstead
		Chief Financial Officer and Secretary

EXHIBIT INDEX

Exhibit No. Description

Exhibit No.		Description

10.1		Amendment No. 1 to Non-Negotiable Promissory Note between Registrant and Collins Timber Company LLC, dated July 26, 2010 (Non-Negotiable Promissory Note originally filed as Exhibit B to Collins Repurchase Agreement, filed as Exhibit 10.2 of Current Report on Form 8-K, filed December 30, 2009).

10.2		Amendment No. 1 to Stock Repurchase Agreement between Registrant and Collins Timber Company LLC, dated July 26, 2010.

10.1 Change in Terms Agreement between Paneltech Products, Inc. and ShoreBank Pacific, dated May 14, 2010

Filing Compare · Paneltech International Holdings, Inc.