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): March 1996
BIOPHARMACEUTICS, INC.
(Exact name of Registrant as specified in its Charter)
DELAWARE 1-9370 13-3186327
(State or other (Commission File Number) (I.R.S Employer
jurisdiction of I.D. Number)
incorporation)
990 Station Road
Bellport, New York 11713
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (516) 286-5800
N/A
(Former name or former address, if changed since last report.)
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ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS
On March 15, 1996 the Company completed its acquisition of the
feminine hygiene product lines of London International U.S. Holdings, Inc. for
the sum of $3,600,000 plus the cost of all saleable finished goods inventories
and raw materials related to non-manufactured products. The purchase price
includes all trade names, trademarks, patents and all saleable finished goods
inventory related to the Feminine Hygiene Business. The aggregate purchase price
included a payment of $1,600,000 and $2,000,000 in a promissory note payable
$500,000 on or before April 1, 1997; $660,000 on or before April 1, 1998 and
$840,000 on April 1, 1999 with interest at 8.5%, payable semi-annually to
October 1997, then quarterly.
EXHIBIT INDEX
Current Report on Form 8-K
of
Biopharmaceutics, Inc.
Date of Report: March 26, 1996
Exhibits:
28.12 Asset Purchase Agreement Dated March 5, 1996
28.13 Financial statements to be provided as an amendment hereto.
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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.
BIOPHARMACEUTICS, INC.
(Registrant)
By: /s/ Edward Fine
--------------------
Edward Fine
President, Chief Executive Officer
(Signature)
Dated: March 26, 1996
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