SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K/A
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report: January 9, 1998
BIOMUNE SYSTEMS, INC.
(Exact name of registrant as specified in its charter)
Commission File Number: 0-11472
Nevada 87-0380088
(State of Incorporation) (I.R.S. Employer Identification No.)
2401 South Foothill Drive, Salt Lake City, UT 84109
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (801) 466-3441
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ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS.
Effective October 1, 1997, Biomune Systems, Inc. (the "Company" or the
"Registrant") entered into an agreement by which it agreed to purchase all of
the issued and outstanding capital stock of Rockwood Investments, Inc., a
California corporation doing business as Rockwood Investments, Inc.
("Rockwood"). Rockwood is owned by Ira E. Ritter, who became the President of
Biomune in July at the time he sold the Company an option to acquire
Rockwood.
On January 5, 1998, the Company and Rockwood put on hold the purchase of
Rockwood at this time. A primary consideration for the Registrant was the
fact that financing the transaction through the sale of its equity securities
under the current market conditions would result in significant dilution to
existing shareholders. Distribution of the Company's products through
Rockwood will continue. The Registrant will continue to focus primarily on
biotechnology with the objective of developing pharmaceutical and
nutraceutical products.
Mr. Ritter will no longer serve as President of Biomune and will focus his
efforts on further development of Rockwood's distribution business, which will
include the Company's products. David G. Derrick, Chief Executive Officer of
the Company has been appointed President. He served in that position prior to
Mr. Ritter's appointment in July 1997.
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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 thereunto duly authorized.
BIOMUNE SYSTEMS, INC.
(Registrant)
By: /s/ Michael G. Acton
Date: January 9, 1998 Michael G. Acton
Chief Financial Officer
(Principal financial and accounting
officer)
