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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
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[X] Current Report Pursuant to Section 13 or 15(d) of the Securities Exchange
Act of 1934
Date of Original Report: SEPTEMBER 9, 1997 Commission File Number 0-9860
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BIOSEARCH MEDICAL PRODUCTS, INC.
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(Exact name of registrant as specified in its charter)
NEW JERSEY 22-2090421
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(State or other jurisdiction (I.R.S. Employer
incorporation or organization Identification Number)
35 INDUSTRIAL PARKWAY, SOMERVILLE, NEW JERSEY 08876-1276
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(Address of principal executive offices) (Zip Code + 4)
Registrant's telephone number, including area code: (908) 722-5000)
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Item 1: N/A
Item 2: N/A
Item 3: N/A
Item 4: N/A
Item 5: EVENTS
Since 5/28/97 the Company has not made a payment on its mortgage. The
Summit Bank has notified the Company, by letter dated 8/25/97, that
the Company is in default for failure to make payments when due. The
bank has exercised its right under the loan documents to declare
immediately due and payable the entire remaining outstanding balance
as of 8/19/97.
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The effect of this decision by the bank requires the Company to
reclassify the long term portion of its mortgage debt to short term.
The ability of the Company to operate as a going concern is dependent
on obtaining financing for working capital and to pay off the Summit
Bank debt.
Item 6: N/A
Item 7: N/A
BIOSEARCH MEDICAL PRODUCTS, INC.
By: /s/ ROBERT C. KELLER
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Robert C. Keller
Treasurer and Chief Accounting Officer
Attested
By: /s/ ROBERT MORAVSIK
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Robert J. Moravsik
Vice President
General Counsel and Secretary
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