Item 1.01 Entry into a Material Definitive Agreement. Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. We have reported on the Form 8-K Current Report, filed with the Securities and Exchange Commission on June 12, 2006, that we entered into a new loan with Citywide Banks for up to $5,156,641, secured by the land, building and fixtures at our Denver, Colorado facilities and that the new bank loan had a six-month draw period. On June 28, 2006, we made our final draw on the new bank loan, which resulted in the full amount of $5,156,641 having been borrowed by us from Citywide Bank and being outstanding. On that same date, pursuant to a Change in Terms Agreement, attached hereto as an exhibit, we extended the maturity date of the new loan to June 28, 2021 (from June 7, 2021), provided that the promissory note interest rate stated in the promissory note to Citywide Banks continues to be at the prime rate published in The Wall Street Journal, and provided that the interest rate will not be changed more often than each year. As a result of the draw on June 28, 2006, the interest rate on the bank loan is 8.00% per annum for the next 12 months. In the Change in Terms Agreement, we also stated the specific amount of monthly payments required under the promissory note; we are required to repay the promissory note in 179 payments of $49,532.68 and a last payment estimated at $49,535.58. The first payment is due on July 7, 2006 and the final payment will be due on June 28, 2021. We further executed a replacement Business Loan Agreement, with the same terms as the original business loan agreement (dated June 7, 2006), for the new loan. See our Form 8-K Current Report filed on June 12, 2006 for additional information on other terms of the new bank loan, which information is incorporated by reference, and for other significant bank loan documents. Item 9.01 Financial Statements and Exhibits. (c) Exhibits. The following is an exhibit to this Report: Exhibit No. Document 10.1 Change in Terms Agreement with Citywide Banks, dated June 28, 2006, between us and Citywide Banks. 10.2 Business Loan Agreement dated June 28, 2006 between us and Citywide Banks. 10.3 Addendum to Loan documents, dated June 28, 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. SCOTT'S LIQUID GOLD-INC. (Registrant) Date: June 30, 2006 /s/ Jeffry B. Johnson ----------------------------- By: Jeffry B. Johnson Chief Financial Officer and Treasurer EXHIBIT INDEX Exhibit Number Document 10.1 Change in Terms Agreement with Citywide Banks, dated June 28, 2006, between us and Citywide Banks. 10.2 Business Loan Agreement dated June 28, 2006 between us and Citywide Banks. 10.3 Addendum to Loan documents, dated June 28, 2006.