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
November 3, 1999
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Date of Report (Date of earliest event reported)
ORTHODONTIX, INC.
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(Exact name of Registrant as specified in its charter)
Florida 000-27836 65-0643773
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(State or other jurisdiction of (Commission (IRS Employer
incorporation or organization) File Number) Identification No.)
600 Brickell Avenue, Suite 300 M, Miami, Florida 33131
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(Address of Principal Executive Offices) (Zip Code)
(305) 373-1002
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(Registrant's telephone number, including area code)
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(Former name or former address, if changed since last report)
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Item 2. Acquisition or Disposition of Assets
As of November 3, 1999, Orthodontix, Inc. (the "Company") sold to six
of its affiliated practices accounts receivable, fixed assets and certain other
assets relating to the respective practices. In connection with the sale of
these assets, the Company received $242,602 in cash, notes payable to the
Company in the principal amount of $245,857, and 411,732 shares of the Company's
common stock. As a result of the sale of these assets, the Company terminated
its affiliation with these six orthodontic practices.
Item 5. Other Events
As of November 3, 1999, the Company has consummated the sale of
practice assets to and has terminated its affiliation with seventeen orthodontic
practices, has reached an agreement in principle to terminate its affiliation
with one additional practice and is engaged in discussions with the remaining
eight affiliated practices regarding their affiliation with the Company. As a
result of these discussions, to the extent the Company consummates the sales of
the practice assets, the Company will discontinue its orthodontic practice
management operations. There can be no assurances that the sale of the practice
assets will be consummated on terms favorable to the Company, if at all.
This report contains certain forward looking statements, including
statements concerning future operations of the Company. Other risks and
uncertainties are detailed in the Company's most recent Annual Report on Form
10-KSB and other filings with the Securities and Exchange Commission.
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.
ORTHODONTIX, INC.
(Registrant)
Dated: November 3, 1999 By: /s/ F.W. Mort Guilford
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F.W. Mort Guilford, President
