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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): July 13, 2006
EDUCATIONAL DEVELOPMENT CORPORATION
(Exact name of registrant as specified in its charter)
Commission file number: 0-4957
Delaware 73-0750007
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
10302 East 55th Place, Tulsa, Oklahoma 74146-6515
(Address of principal executive offices and Zip Code)
(918) 622-4522
(Registrant's telephone number, including area code)
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))
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ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT
On July 13, 2006, Educational Development Corporation entered into
an agreement to provide Debtor in Possession financing and to participate in a
Plan of Reorganization with Intervisual Books, Inc., located in Inglewood,
California. Intervisual Books, Inc. is currently operating as a
debtor-in-possession in a Chapter 11 bankruptcy case voluntarily filed May 8,
2006. Upon Bankruptcy Court approval EDC will provide Intervisual Books, Inc.
with interim financing intended to facilitate the acquisition by EDC of
substantially all of the assets of Intervisual which would then become an
operating division of EDC.
A copy of the press release making this announcement is furnished
as Exhibit 99.1 and incorporated herein by reference.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
(d) EXHIBITS
99.1 Press release dated as of July 13, 2006
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.
Educational Development Corporation
By: /s/ Randall W. White
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Randall W. White
President and Chief Executive Officer
Date: July 13, 2006
EXHIBIT INDEX
EXHIBIT
NUMBER DESCRIPTION
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*99.1 Press release dated as of July 13, 2006
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* Filed herewith.