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): January 10, 2001
MedCare Technologies, Inc.
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(Exact name of registrant as specified in its charter)
Delaware 0-28790 87-0429962B
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(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation Identification No.)
1515 West 22nd Street, Suite 1210, Oak Brook, Illinois 60523
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (604) 659-5005
ITEM 1. Changes in Control of Registrant.
None.
ITEM 2. Acquisition or Disposition of Assets.
None.
ITEM 3. Bankruptcy or Receivership.
None.
ITEM 4. Changes in Registrant's Certifying Accountant.
None.
ITEM 5. Other Events.
In a letter agreement dated January 4, 2001, Harmel S. Rayat, a Director
and majority shareholder of MedCare Technologies, Inc., agreed to acquire 81.5
shares of the Company's convertible preferred stock (par value $0.25) and
related warrants for $111,329 and 800,000 restricted common shares for $38,671.
The Company also granted Mr. Harmel S. Rayat 4,000,000 share purchase warrants
to acquire common shares of the Company at $0.05 expiring January 10, 2005. The
agreement also provided the Company undertake to register all shares underlying
the Series B Convertible Preferred Stock and the share purchase warrant. The
agreement is attached as an exhibit.
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ITEM 6. Resignations of Registrant's Director's
None.
ITEM 7. Financial Statements and Exhibits.
None.
ITEM 8. Change in Fiscal Year.
None.
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.
MEDCARE TECHNOLOGIES, INC.
By: /s/ Ray Krauss
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Ray Krauss, President & CEO
Date: January 10, 2001
