Form 8-K for ADVANCED BATTERY TECHNOLOGIES, INC.
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13-Dec-2004
Financial Obligation Matter
Item 2.03 Creation of a Direct Financial Obligation
On December 1, 2004 the Registrant's subsidiary, HeilongJiang ZhongQiang Power Tech Co, Ltd., entered into a Loan Agreement with China Commercial Bank. The loan of 20 million RMB ($2.4 Million) was funded on that same date. The loan agreement provides for a balloon payment of principal in December 2006. Interest at a rate of 6.72% will be payable monthly. The obligation is secured by a pledge of certain assets of HeilongJiang ZhongQiang Power Tech Co, Ltd.
EXHIBITS
10. Loan Agreement with China Commercial Bank - to be filed by amendment.
