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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): July 1, 1998
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AMDL, Inc.
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(Exact name of registrant as specified in its charter)
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Delaware 33-23786-LA 87-0188822
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(State or other jurisdiction (Commission File Number) (IRS Employer Identifica-
of incorporation) tion No.)
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14272 Franklin Avenue, Suite 106, Tustin, CA 92780-7039
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (714) 505-4460
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(Former name or former address, if changed since last report)
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ITEM 1. CHANGES IN CONTROL OF REGISTRANT.
Not applicable.
ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS.
Note applicable.
ITEM 3. BANKRUPTCY OR RECEIVERSHIP.
Not applicable.
ITEM 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT.
Not applicable.
ITEM 5. OTHER EVENTS.
On July 1, 1998, AMDL approved a plan to pay on a current basis 50 percent
of the salaries for three of AMDL's top executives -- That T. Ngo, Ph.D.,
President and Chief Executive Officer, Harry Berk, Vice President and Chief
Financial Officer, and Thomas V. Tilton, Director, Corporate Development --
effective July 16, 1998. The other 50 percent accrues and is payable out of the
proceeds of future financings. The Board also reduced its compensation by 50
percent.
AMDL also announced other stringent internal belt-tightening measures to
attempt to ensure that AMDL will have the cash necessary to move forward to
market and distribute its two proprietary products that recently completed
successful major clinical trials.
AMDL previously filed a 510(k) submission with the U.S. Food and Drug
Administration requesting clearance to market in the United States its
PyloriProbe(TM) diagnostic test for the detection of the antibodies to the
bacterium known to cause gastric and duodenal ulcers and, if untreated, stomach
cancer.
AMDL has also completed a major clinical trial in China with its
proprietary DR-70(TM) immunoassay kit, showing the test is capable of detecting
13 different cancers with a degree of specificity and sensitivity believed to be
superior to any other tumor marker now on the market. AMDL is working in
cooperation with our Chinese distributor to obtain permission to market this kit
in China. ADML also recently began marketing OEM diagnostic kits, made to AMDL
specifications by other manufacturers. These products which complement AMDL's
proprietary products are now generating some limited sales.
ITEM 6. RESIGNATIONS OF REGISTRANT'S DIRECTORS.
Not applicable.
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ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
Not applicable.
ITEM 8. CHANGE IN FISCAL YEAR.
Not applicable.
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 hereunto duly authorized.
AMDL, INC.
(Registrant)
Date: July 13, 1998 By: /s/ THAT T. NGO
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That T. Ngo, Ph.D., Chief Executive Officer
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