<html>

<head>


<title>Home Solutions of America, Inc. Form 8-K by www.edgar2.com </title>


</head>

<body lang=EN-US>



<p class=MsoNormal align=center style='text-align:center'><b><font size="2">&nbsp;</font></b></p>

<p class=MsoNormal align=center style='text-align:center'><b><font size="2">&nbsp;</font></b></p>









<p class=MsoNormal align=center style='text-align:center'><b><font size="2">UNITED STATES<br>
SECURITIES AND EXCHANGE COMMISSION<br>
WASHINGTON, DC 20549</font></b></p>



<p class=MsoNormal align=center style='text-align:center'><b><font size="2">FORM 8-K</font></b></p>

<p class=MsoNormal align=center style='text-align:center'><b><font size="2">CURRENT REPORT<br>
PURSUANT TO SECTION 13 OR 15(d) OF THE<br>
SECURITIES EXCHANGE ACT OF 1934</font></b></p>





<p class=MsoNormal><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Date of Report (Date of earliest event reported)</font><u><font size="2">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;April
22, 2005 (April 18, 2005)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></u></p>



<p class=MsoNormal align=center style='text-align:center'><u><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; HOME SOLUTIONS
OF AMERICA,
INC.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br>
</font></u><font size="2">(Exact Name of
Registrant as Specified in Its Charter)</font></p>



<p class=MsoNormal align=center style='text-align:center'><u><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;Delaware&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;<br>
</font></u><font size="2">(State or Other
Jurisdiction of Incorporation)</font></p>



<p class=MsoNormal align=center style='text-align:center'><u><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0-22388
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;99-0273889&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br>
</font></u><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(Commission File Number&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(IRS Employer Identification No.)</font></p>



<p class=MsoNormal align=center style='text-align:center'><u><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
5565 Red Bird Center Drive, Suite 150, Dallas, Texas&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 75237&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;<br>
</font></u><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Address
of Principal Executive Offices)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Zip
Code)</font></p>



<p class=MsoNormal align=center style='text-align:center'><u><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(214) 623-8446&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br>
</font></u><font size="2">(Registrant's
Telephone Number, Including Area Code)</font></p>



<p class=MsoNormal align=center style='text-align:center'><u><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br>
</font></u><font size="2">(Former Name or
Former Address, if Changed Since Last Report)</font></p>





<p style='text-align:justify;text-justify:inter-ideograph;text-indent:18.0pt'>
<font size="2">&nbsp;&nbsp;&nbsp; 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:</font></p>

<p style='text-align:justify;text-justify:inter-ideograph;text-indent:18.0pt'>
<font size="2">[_] Written communications pursuant to Rule 425 under
the Securities Act (17 CFR 230.425)</font></p>

<p style='text-align:justify;text-justify:inter-ideograph;text-indent:18.0pt'>
<font size="2">[_] Soliciting material pursuant to Rule 14a-12 under
the Exchange Act (17 CFR 240.14a-12)</font></p>

<p style='text-align:justify;text-justify:inter-ideograph;text-indent:18.0pt'>
<font size="2">[_] Pre-commencement communications pursuant to Rule
14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></p>

<p style='text-align:justify;text-justify:inter-ideograph;text-indent:18.0pt'>
<font size="2">[_] Pre-commencement communications pursuant to Rule
13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></p>













<p class=MsoFooter>&nbsp;</p>

<div class=MsoNormal align=center style='text-align:center'>

<hr size=2 width="100%" noshade color=navy align=center>

</div>





<b><font size="2"><br clear=all
style='page-break-before:always'>
</font>
</b>











<p class=MsoNormal><b><font size="2">Item 1.01.&nbsp; Entry into a
Material Definitive Agreement.</font></b></p>

<p class=MsoNormal style='text-align:justify;text-justify:inter-ideograph;
text-indent:36.0pt'><font size="2">As disclosed in a current
report on Form 8-K filed on April 6, 2005, Home Solutions of America, Inc., a
Delaware corporation (the &quot;Company&quot;), in order to finance the acquisition of
100% of Cornerstone Building and Remodeling, Inc., a Florida corporation (&quot;Cornerstone&quot;),
on March 31, 2005, the Company obtained $4,000,000 of mezzanine financing (the
&quot;Financing&quot;) from Petra Mezzanine Fund, L.P., based in Nashville, Tennessee
(&quot;Petra&quot;).&nbsp; The Financing was based upon the following terms: (i) Petra's
promissory note (the &quot;Petra Note&quot;) accrues interest at 12.0% per annum, which will
be due quarterly, (ii) the $4,000,000 of principal under the Petra Note will be
due in a single installment on March 31, 2010, (iii) Petra received a warrant
to purchase 533,333 shares of Common Stock at an exercise of $.01 per share,
exercisable at any time until March 31, 2012, and (iv) Petra received a second-lien
security interest in all of the assets of the Company, Cornerstone, and P.W.
Stephens, Inc., another wholly-owned subsidiary of the Company.</font></p>



<p class=MsoNormal style='text-align:justify;text-justify:inter-ideograph;
text-indent:36.0pt'><font size="2">On April 18, 2005, the
Company increased the size of the Financing to an aggregate of $4,500,000, by
obtaining a $500,000 loan (the &quot;Laddcap Loan&quot;) from Laddcap Value Partners
L.P., based in New York (&quot;Laddcap&quot;).&nbsp; Laddcap also participated in the
Company's Series A Convertible Preferred Stock offering in March 2004.&nbsp; The
terms of the Laddcap Loan are identical to the terms of the loan from Petra set
forth above, except the principal amount of the Laddcap Loan is $500,000, and
the number of shares purchasable by Laddcap under its warrant (the &quot;Laddcap
Warrant&quot;) is 66,666.&nbsp; Simultaneously with obtaining the loan from Laddcap, the
Company and Petra amended certain terms of the promissory note, Investors'
Rights Agreement, and warrant that were executed on March 31, 2005.</font></p>



<p class=MsoNormal style='margin-left:54.0pt;text-align:justify;text-justify:
inter-ideograph;text-indent:-54.0pt'><b><font size="2">Item
2.03.&nbsp; Creation of a Direct Financial Obligation or an Obligation under an
Off-Balance Sheet Arrangement of a Registrant.&nbsp;</font></b></p>

<p class=MsoNormal style='text-align:justify;text-justify:inter-ideograph'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; See the disclosures regarding the
financial obligations incurred in connection with the Laddcap Loan in Item 1.01
above.</font></p>



<p class=MsoNormal style='text-align:justify;text-justify:inter-ideograph'><b>
<font size="2">Item 3.02.&nbsp;&nbsp; Unregistered Sales of Equity Securities.</font></b></p>



<p class=MsoNormal style='text-align:justify;text-justify:inter-ideograph'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; See the disclosures regarding certain sales
of equity securities of the Company in connection with the Laddcap Warrant in
Item 1.01 above.&nbsp; These issuances were unregistered, as the Company was relying
on the exemptions from registration contained in Section 4(2) of the Act, and
Regulation D promulgated thereunder, on the basis that such transactions did
not involve public offerings of securities.</font></p>



<p class=MsoNormal style='text-align:justify;text-justify:inter-ideograph'><b>
<font size="2">Item 9.01.&nbsp; Financial Statements and Exhibits.</font></b></p>



<p class=MsoNormal style='margin-left:72.0pt;text-align:justify;text-justify:
inter-ideograph;text-indent:-36.0pt;text-autospace:ideograph-numeric ideograph-other'>
<font size="2">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<i>Exhibits</i>.&nbsp; </font> </p>



<p class=MsoNormal style='margin-left:36.0pt;text-indent:-36.0pt' align="justify">
<font size="2">10.1&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp; Promissory
Note, in the original principal amount of $500,000, issued by Home Solutions of
America, Inc. to Laddcap Value Partners L.P., dated April 18, 2005.</font></p>



<p class=MsoNormal style='margin-left:36.0pt;text-indent:-36.0pt' align="justify">
<font size="2">10.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp; Stock
Purchase Warrant, dated April 18, 2005, issued by Home Solutions of America,
Inc. to Laddcap Value Partners L.P.</font></p>



<p class=MsoNormal style='margin-left:36.0pt;text-indent:-36.0pt' align="justify">
<font size="2">10.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Joinder
Agreement to Loan Agreement, dated April 18, 2005, among Home Solutions of
America, Inc., Laddcap Value Partners L.P., and Petra Mezzanine Fund, L.P..</font></p>



<p class=MsoNormal style='margin-left:36.0pt;text-indent:-36.0pt' align="justify">
<font size="2">10.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Joinder
Agreement to Investors' Rights Agreement, dated April 18, 2005, among Laddcap
Value Partners L.P., Petra Mezzanine Fund, L.P., Home Solutions of America,
Inc., Frank J. Fradella and Rick J. O'Brien.</font></p>

<div>

<table cellspacing=0 cellpadding=0 hspace=0 vspace=0 align=center>
 <tr>
  <td valign=top align=left style='padding-top:0pt;padding-right:0pt;
  padding-bottom:0pt;padding-left:0pt'>
  <p class=MsoFooter><font size="2">1</font></p>
  </td>
 </tr>
</table>

</div>

<font size="2">

<br clear=ALL>



</font>



<div class=MsoNormal align=center style='text-align:center'>

<hr size=2 width="100%" noshade color=navy align=center>

</div>



<font size="2">



<br clear=all
style='page-break-before:always'>










</font>










<p class=MsoNormal style='margin-left:36.0pt;text-align:justify;text-indent:-36.0pt'>
<font size="2">10.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amended
and Restated Promissory Note, in the original principal amount of $4,000,000,
issued by Home Solutions of America, Inc. to Petra Mezzanine Fund, L.P., dated
March 31, 2005.</font></p>



<p class=MsoNormal style='margin-left:36.0pt;text-align:justify;text-indent:-36.0pt'>
<font size="2">10.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; First
Amendment to Stock Purchase Warrant, dated April 15, 2005, by and between Home
Solutions of America, Inc. and Petra Mezzanine Fund, L.P.</font></p>



<p class=MsoNormal style='margin-left:36.0pt;text-align:justify;text-indent:-36.0pt'>
<font size="2">10.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; First
Amendment to Investors' Rights Agreement, dated April 15, 2005, by and among
Home Solutions of America, Inc., Petra Mezzanine Fund, L.P., Frank J. Fradella
and Rick J. O'Brien.</font></p>
<p class=MsoNormal style='margin-left:36.0pt;text-align:justify;text-justify:
inter-ideograph;text-indent:-36.0pt'>&nbsp;</p>
<p class=MsoNormal style='margin-left:36.0pt;text-align:justify;text-justify:
inter-ideograph;text-indent:-36.0pt'>&nbsp;</p>
<p class=MsoNormal style='margin-left:36.0pt;text-align:justify;text-justify:
inter-ideograph;text-indent:-36.0pt'>&nbsp;</p>
<p class=MsoNormal style='margin-left:36.0pt;text-align:justify;text-justify:
inter-ideograph;text-indent:-36.0pt'>&nbsp;</p>
<p class=MsoNormal style='margin-left:36.0pt;text-align:justify;text-justify:
inter-ideograph;text-indent:-36.0pt'>&nbsp;</p>
<p class=MsoNormal style='margin-left:36.0pt;text-align:justify;text-justify:
inter-ideograph;text-indent:-36.0pt'>&nbsp;</p>
<p class=MsoNormal style='margin-left:36.0pt;text-align:justify;text-justify:
inter-ideograph;text-indent:-36.0pt'>&nbsp;</p>







<div>

<table cellspacing=0 cellpadding=0 hspace=0 vspace=0 align=center>
 <tr>
  <td valign=top align=left style='padding-top:0pt;padding-right:0pt;
  padding-bottom:0pt;padding-left:0pt'>
  <p class=MsoFooter><font size="2">2</font></p>
  </td>
 </tr>
</table>

</div>

<font size="2">

<br clear=ALL>



</font>



<div class=MsoNormal align=center style='text-align:center'>

<hr size=2 width="100%" noshade color=navy align=center>

</div>



<font size="2">



<br clear=all
style='page-break-before:always'>


</font>


<p class=MsoNormal style='line-height:1.0pt'>&nbsp;</p>







<p class=MsoNormal align=center style='text-align:center'><b><u><font size="2">SIGNATURE</font></u></b></p>



<p class=MsoNormal style='text-indent:36.0pt'><font size="2">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.</font></p>



<p class=MsoNormal style="margin-left: 3in"><font size="2">Home Solutions of America, Inc.</font></p>

<p class=MsoNormal style="margin-left: 3in"><font size="2">&nbsp;(Registrant)</font></p>





<p class=MsoNormal style="margin-left: 3in"><font size="2">By:&nbsp;&nbsp;
</font> <u><font size="2">/s/ Rick J. O'Brien&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<br>
</font> </u><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rick J. O'Brien<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Chief Financial Officer</font></p>
<p class=MsoNormal style="margin-left: 3in">&nbsp;</p>
<p class=MsoNormal style="margin-left: 3in">&nbsp;</p>
<p class=MsoNormal style="margin-left: 3in">&nbsp;</p>
<p class=MsoNormal style="margin-left: 3in">&nbsp;</p>
<p class=MsoNormal align="left"><font size="2">Dated:&nbsp; April 22, 2005
</font></p>

<div>

<table cellspacing=0 cellpadding=0 hspace=0 vspace=0 align=center>
 <tr>
  <td valign=top align=left style='padding-top:0pt;padding-right:0pt;
  padding-bottom:0pt;padding-left:0pt'>
  <p class=MsoFooter><font size="2">3</font></p>
  </td>
 </tr>
</table>

</div>

<font size="2">

<br clear=ALL>



</font>



<div class=MsoNormal align=center style='text-align:center'>

<hr size=2 width="100%" noshade color=navy align=center>

</div>





<font size="2">





<br clear=all
style='page-break-before:always'>












</font>












<p class=MsoNormal align=center style='text-align:center'><b><u><font size="2">EXHIBIT INDEX</font></u></b></p>



<p class=MsoNormal><font size="2">Exhibit<br>
</font><u><font size="2">Number</font></u><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font> <u><font size="2">Description</font></u></p>



<p class=MsoNormal style='margin-left:36.0pt;text-indent:-36.0pt'>
<font size="2">10.1&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp; Promissory
Note, in the original principal amount of $500,000, issued by Home Solutions of
America, Inc. to Laddcap Value Partners L.P., dated April 18, 2005.</font></p>



<p class=MsoNormal style='margin-left:36.0pt;text-indent:-36.0pt'>
<font size="2">10.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock
Purchase Warrant, dated April 18, 2005, issued by Home Solutions of America,
Inc. to Laddcap Value Partners L.P.</font></p>



<p class=MsoNormal style='margin-left:36.0pt;text-indent:-36.0pt'>
<font size="2">10.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Joinder
Agreement to Loan Agreement, dated April 18, 2005, among Home Solutions of
America, Inc., Laddcap Value Partners L.P., and Petra Mezzanine Fund, L.P..</font></p>



<p class=MsoNormal style='margin-left:36.0pt;text-indent:-36.0pt'>
<font size="2">10.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Joinder
Agreement to Investors' Rights Agreement, dated April 18, 2005, among Laddcap
Value Partners L.P., Petra Mezzanine Fund, L.P., Home Solutions of America,
Inc., Frank J. Fradella and Rick J. O'Brien.</font></p>



<p class=MsoNormal style='margin-left:36.0pt;text-indent:-36.0pt'>
<font size="2">10.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amended
and Restated Promissory Note, in the original principal amount of $4,000,000,
issued by Home Solutions of America, Inc. to Petra Mezzanine Fund, L.P., dated
March 31, 2005.</font></p>



<p class=MsoNormal style='margin-left:36.0pt;text-indent:-36.0pt'>
<font size="2">10.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; First
Amendment to Stock Purchase Warrant, dated April 15, 2005, by and between Home
Solutions of America, Inc. and Petra Mezzanine Fund, L.P.</font></p>



<p class=MsoFooter style="text-indent: -36pt; margin-left: 36pt"><font size="2">10.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; First Amendment to
Investors' Rights Agreement, dated April 15, 2005, by and among Home Solutions
of America, Inc., Petra Mezzanine Fund, L.P., Frank J. Fradella and Rick J.
O'Brien. </font> </p>
<p class=MsoFooter style="text-indent: -36pt; margin-left: 36pt">&nbsp;</p>
<p class=MsoFooter style="text-indent: -36pt; margin-left: 36pt">&nbsp;</p>
<p class=MsoFooter style="text-indent: -36pt; margin-left: 36pt">&nbsp;</p>
<p class=MsoFooter style="text-indent: -36pt; margin-left: 36pt">&nbsp;</p>

<div class=MsoNormal align=center style='text-align:center'>

<hr size=2 width="100%" noshade color=navy align=center>

</div>







</body>

</html>
[{"type": "8-K", "sequence": "1", "filename": "hom8k1.htm", "secsgml_size_bytes": 22162}]
{"company-data": {"conformed-name": "HOME SOLUTIONS OF AMERICA INC", "cik": "0000855424", "assigned-sic": "8741", "irs-number": "990273889", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-31711", "film-number": "05767905"}, "business-address": {"street1": "5565 RED BIRD CENTER DRIVE, SUITE 150", "street2": "-", "city": "DALLAS", "state": "TX", "zip": "75237", "phone": "2146238446"}, "mail-address": {"street1": "5565 RED BIRD CENTER DRIVE, SUITE 150", "street2": "-", "city": "DALLAS", "state": "TX", "zip": "75237"}, "former-company": [{"former-conformed-name": "NEXTGEN COMMUNICATIONS CORP", "date-changed": "20010814"}, {"former-conformed-name": "U S INDUSTRIAL SERVICES INC", "date-changed": "19980629"}, {"former-conformed-name": "EIF HOLDINGS INC", "date-changed": "19930621"}]}
Home Solutions of America, Inc. Form 8-K by www.edgar2.com
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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)
April
22, 2005 (April 18, 2005)
HOME SOLUTIONS
OF AMERICA,
INC.
(Exact Name of
Registrant as Specified in Its Charter)
Delaware
(State or Other
Jurisdiction of Incorporation)
0-22388
                 
                                               
 99-0273889
(Commission File Number 
                  
              
(IRS Employer Identification No.)
5565 Red Bird Center Drive, Suite 150, Dallas, Texas                           
           75237
(Address
of Principal Executive Offices)       
         
                              (Zip
Code)
(214) 623-8446
(Registrant's
Telephone Number, Including Area Code)
(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:
[_] 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.
As disclosed in a current
report on Form 8-K filed on April 6, 2005, Home Solutions of America, Inc., a
Delaware corporation (the "Company"), in order to finance the acquisition of
100% of Cornerstone Building and Remodeling, Inc., a Florida corporation ("Cornerstone"),
on March 31, 2005, the Company obtained $4,000,000 of mezzanine financing (the
"Financing") from Petra Mezzanine Fund, L.P., based in Nashville, Tennessee
("Petra").  The Financing was based upon the following terms: (i) Petra's
promissory note (the "Petra Note") accrues interest at 12.0% per annum, which will
be due quarterly, (ii) the $4,000,000 of principal under the Petra Note will be
due in a single installment on March 31, 2010, (iii) Petra received a warrant
to purchase 533,333 shares of Common Stock at an exercise of $.01 per share,
exercisable at any time until March 31, 2012, and (iv) Petra received a second-lien
security interest in all of the assets of the Company, Cornerstone, and P.W.
Stephens, Inc., another wholly-owned subsidiary of the Company.
On April 18, 2005, the
Company increased the size of the Financing to an aggregate of $4,500,000, by
obtaining a $500,000 loan (the "Laddcap Loan") from Laddcap Value Partners
L.P., based in New York ("Laddcap").  Laddcap also participated in the
Company's Series A Convertible Preferred Stock offering in March 2004.  The
terms of the Laddcap Loan are identical to the terms of the loan from Petra set
forth above, except the principal amount of the Laddcap Loan is $500,000, and
the number of shares purchasable by Laddcap under its warrant (the "Laddcap
Warrant") is 66,666.  Simultaneously with obtaining the loan from Laddcap, the
Company and Petra amended certain terms of the promissory note, Investors'
Rights Agreement, and warrant that were executed on March 31, 2005.
Item
2.03.  Creation of a Direct Financial Obligation or an Obligation under an
Off-Balance Sheet Arrangement of a Registrant.
See the disclosures regarding the
financial obligations incurred in connection with the Laddcap Loan in Item 1.01
above.
Item 3.02.   Unregistered Sales of Equity Securities.
See the disclosures regarding certain sales
of equity securities of the Company in connection with the Laddcap Warrant in
Item 1.01 above.  These issuances were unregistered, as the Company was relying
on the exemptions from registration contained in Section 4(2) of the Act, and
Regulation D promulgated thereunder, on the basis that such transactions did
not involve public offerings of securities.
Item 9.01.  Financial Statements and Exhibits.
(c)
Exhibits
.
10.1         Promissory
Note, in the original principal amount of $500,000, issued by Home Solutions of
America, Inc. to Laddcap Value Partners L.P., dated April 18, 2005.
10.2         Stock
Purchase Warrant, dated April 18, 2005, issued by Home Solutions of America,
Inc. to Laddcap Value Partners L.P.
10.3         Joinder
Agreement to Loan Agreement, dated April 18, 2005, among Home Solutions of
America, Inc., Laddcap Value Partners L.P., and Petra Mezzanine Fund, L.P..
10.4         Joinder
Agreement to Investors' Rights Agreement, dated April 18, 2005, among Laddcap
Value Partners L.P., Petra Mezzanine Fund, L.P., Home Solutions of America,
Inc., Frank J. Fradella and Rick J. O'Brien.
1
10.5         Amended
and Restated Promissory Note, in the original principal amount of $4,000,000,
issued by Home Solutions of America, Inc. to Petra Mezzanine Fund, L.P., dated
March 31, 2005.
10.6         First
Amendment to Stock Purchase Warrant, dated April 15, 2005, by and between Home
Solutions of America, Inc. and Petra Mezzanine Fund, L.P.
10.7         First
Amendment to Investors' Rights Agreement, dated April 15, 2005, by and among
Home Solutions of America, Inc., Petra Mezzanine Fund, L.P., Frank J. Fradella
and Rick J. O'Brien.
2
SIGNATURE
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.
Home Solutions of America, Inc.
(Registrant)
By:
/s/ Rick J. O'Brien
Rick J. O'Brien
Chief Financial Officer
Dated:  April 22, 2005
3
EXHIBIT INDEX
Exhibit
Number
Description
10.1         Promissory
Note, in the original principal amount of $500,000, issued by Home Solutions of
America, Inc. to Laddcap Value Partners L.P., dated April 18, 2005.
10.2         Stock
Purchase Warrant, dated April 18, 2005, issued by Home Solutions of America,
Inc. to Laddcap Value Partners L.P.
10.3         Joinder
Agreement to Loan Agreement, dated April 18, 2005, among Home Solutions of
America, Inc., Laddcap Value Partners L.P., and Petra Mezzanine Fund, L.P..
10.4         Joinder
Agreement to Investors' Rights Agreement, dated April 18, 2005, among Laddcap
Value Partners L.P., Petra Mezzanine Fund, L.P., Home Solutions of America,
Inc., Frank J. Fradella and Rick J. O'Brien.
10.5         Amended
and Restated Promissory Note, in the original principal amount of $4,000,000,
issued by Home Solutions of America, Inc. to Petra Mezzanine Fund, L.P., dated
March 31, 2005.
10.6         First
Amendment to Stock Purchase Warrant, dated April 15, 2005, by and between Home
Solutions of America, Inc. and Petra Mezzanine Fund, L.P.
10.7         First Amendment to
Investors' Rights Agreement, dated April 15, 2005, by and among Home Solutions
of America, Inc., Petra Mezzanine Fund, L.P., Frank J. Fradella and Rick J.
O'Brien.