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): ~~June~~November 41, 2010

PLASTINUM POLYMER TECHNOLOGIES CORP.

(Exact Name of Registrant as Specified in its Charter)

Delaware	~~0-52128~~	200-~~4255141~~52128	20-4255141
(State or Other Jurisdiction	~~(Commission~~	~~(IRS Employer~~Commission	(IRS Employer
of Incorporation)	~~File Number)~~	~~Identification~~File ~~No.~~Number)	Identification No.)

10100 Santa Monica Blvd., Suite 300

Los Angeles, CA 90067

(Address of Principal Executive Offices) (Zip Code)

Registrant's telephone number, including area code: (310) 651-9972

(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):

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

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

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

□ o 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 June 4, 2010, Plastinum Polymer Technologies Corp. (the “Company”) entered into a Participation Agreement (the “Participation Agreement”) with Richard von Tscharner (the “Investor”), pursuant to which the Company sold and issued to the Investor a 15% equity stake in the Company’s Dutch subsidiary, PPT Holding B.V. (“PPT”), for 5 million Euros. The payment of the 5 million Euros was made in two installments, whereby a first installment of 3 million Euros was paid by RT to PPT, out of which funds PPT repaid a Bridge Loan previously made by RT to PPT on April 16, 2010 (including accrued interest thereon), and a second installment of 2 million Euros was paid by the Investor to PPT.

The Participation Agreement was entered into between the parties with the understanding that the Company is contemplating the reorganization described under Item 8.01 below. Pursuant to the Participation Agreement, among other things, the Investor received a “put” right to exchange the equity stake it received in PPT thereunder for a 15% equity stake in the Company, on a fully-diluted basis, in the event that the reorganization referred to under Item 8.01 does not take place.

Item 3.02 Unregistered Sales of Equity Securities.

Pursuant to the Participation Agreement described under Item 1.01 above, the Company granted to the Investor a “put” right to exchange the equity stake he received in PPT under the Participation Agreement for such number of shares of the Company’s Common Stock equivalent to 15% of the Company’s Common Stock, on a fully-diluted basis, or 32,675,608 shares of Common Stock, in the event that the reorganization described under Item 8.01 does not take place. Such “put” right was granted without registration under the Securities Act of 1933 in reliance on Regulation S thereunder.

Item 8.01 Other Events.

~~Plastinum~~As ~~Polymer~~previously ~~Technologies~~reported ~~Corp.~~in (the ~~“Company”)~~Quarterly isReport ~~contemplating~~on aForm ~~reorganization which~~10-Q ~~would~~of ~~result~~Plastinum inPolymer Technologies Corp. (the “Company’s”) ~~securities~~for nothe ~~longer~~period ~~being~~ended ~~traded~~June in30, ~~the~~2010, a holder ~~United~~of ~~States~~$3,860,000 ~~but~~of ~~instead~~ the Company’s ~~business~~ ~~operations,~~Series ~~which are controlled by its subsidiary PPT Holding~~ B~~.V.~~-1 ~~(“PPT”),~~Convertible ~~will~~Preferred ~~be publicly traded~~Stock ~~under~~("Preferred ~~PPT~~Stock") ondemanded aits ~~European~~redemption ~~securities~~in ~~market~~accordance ~~and~~with ~~the~~such ~~Company security holders will~~holder’s ~~become~~rights ~~PPT~~under ~~security~~the ~~holders~~Preferred ~~(the~~Stock ~~“Reorganization”)~~terms. The ~~Reorganization~~ isCompany ~~proposed~~was obligated to make ~~be accomplished by (i)~~ the ~~transfer~~applicable byredemption ~~the~~payment ~~Company of~~on ~~all~~November of1, ~~its~~2010, ~~assets~~but ~~and~~failed ~~liabilities~~ to ~~PPT,~~do ~~(ii)~~so due ~~the~~to ~~holders~~a lack of ~~the~~cash ~~Company’s securities~~on ~~receiving~~hand. In ~~securities~~addition, inon ~~PPT~~November ~~similar~~1, to2010, the ~~securities owned in the~~ Company ~~via~~received a redemption ~~liquidating~~demand ~~distribution~~ from ~~the~~an ~~Company,~~additional ~~(iii)~~holder ~~the shares~~ of ~~PPT~~ ~~being~~Preferred ~~publicly~~Stock ~~traded~~to onredeem aanother ~~European~~$200,000 ~~market and (iv) the shares~~ of ~~Common~~Preferred Stock of, ~~the~~which ~~Company being deregistered under the federal securities laws. No~~redemption ~~final~~payment ~~determination has been made by~~ the Company ~~regarding~~is ~~the Reorganization. In~~obligated ~~the~~to ~~event~~make ~~that~~by ~~the~~December ~~Company~~16, ~~determines to proceed with the Reorganization~~2010, ~~the~~but ~~matter will be put forth~~ for awhich ~~vote at a meeting of~~ the Company’s ~~stockholders. The~~does ~~Company~~not ~~will advise~~currently ~~its~~have ~~stakeholders when a final determination regarding~~ the ~~Reorganization has~~cash ~~been~~on ~~made~~hand.

As of November 2, 2010, the Company has not yet made the October 15, 2010 interest payment due on outstanding Preferred Stock which the holders of Preferred Stock have the right to receive.

As of November 2, 2010, the Company has not made certain required interest payments on an aggregate of $8,522,000 in convertible debt it has outstanding and $300,000 of principal of such convertible debt and which the holders of such debt have the right to receive and such convertible debt is therefore in default.

To the Company’s knowledge, as of the filing of this report, none of the holders of the Company’s Preferred Stock or convertible debt have taken any actions against the Company to enforce their respective rights described above. However, they could at any time seek to obtain a judgment against the Company to enforce their rights.

As of the filing of this report, the Company does not have sufficient cash on hand to make the payments described above nor to continue the business operations of its Dutch subsidiary and, accordingly, unless additional funding is obtained imminently, the Company and its Dutch subsidiary will cease operations. In such an event, the stockholders' equity in the Company will likely be rendered worthless. Further, unless funding is obtained, the Company will not have sufficient funds to pay its auditors and legal counsel and, accordingly, will not be able to file further reports under the Securities Exchange Act of 1934. Non-filing of such reports will also eventually cause the Company’s common stock to no longer be quoted on the OTC Bulletin Board, but it may continue to be quoted on the Pink Sheets.

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.

	PLASTINUM POLYMER TECHNOLOGIES CORP.
Dated: June 7, 2010	By:	/s/ Jacques Mot
Dated: November 3, 2010	By:	/s/ Jacques Mot
		Jacques Mot
		President and Chief Executive Officer

Filing Compare · Plastinum Polymer Technologies Corp.