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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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)
November 6, 2000 (October 23, 2000)
OMNI NUTRACEUTICALS, INC.
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
UTAH 0-18160 87-046822
(STATE OF OTHER JURISDICTION (COMMISSION (IRS EMPLOYER
OF INCORPORATION) FILE NUMBER) IDENTIFICATION NO.)
5310 BEETHOVEN STREET
LOS ANGELES, CA 90066
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES)
REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE: (310) 306-3636
N/A
(FORMER NAME AND FORMER ADDRESS, IF CHANGED SINCE LAST REPORT)
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OMNI NUTRACEUTICALS, INC.
TABLE OF CONTENTS
FOR
CURRENT REPORT ON FORM 8-K
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Page No.
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Item 5. Other Events 3
Item 7. Exhibits 4
Signature
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ITEM 5
OTHER EVENTS
On October 23, 2000, the Company entered into Waiver and Amendment No. 4
("Waiver") to Secured Credit Agreement, amending the Secured Credit Agreement
("Agreement") dated June 10, 1999 between the Company and First Source
Financial, LLP, its secured lender.
The amendments covered by the Waiver include the following:
a. Waiver of the events of default existing as of the date of the Waiver.
b. Revision of the definition of "borrowing Base" in the Agreement to
effectively permit the Company to borrow up to the maximum credit of $7 million
extended under the revolving portion of the total credit line.
c. Extension of the term of the Agreement from April 30, 2001 to July 30, 2002.
d. Deferral of monthly principal payments called for under the Agreement, as
amended, between October 2000 and May 2001, with the total amount so deferred
becoming payable on July 15, 2001 in the amount of $1,750,000.
e. Granting the Company complete use of the proceeds of the equity offering
completed on October 27, 2000 for working capital purposes.
f. Charging the Company a fee for the restructuring of the indebtedness of
approximately $131,000, payable in six equal monthly installments beginning
April 15, 2001.
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A copy of the press release is attached hereto as an Exhibit.
ITEM 7
EXHIBITS
10.28 Press Releases-November 1, 2000.
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.
OMNI NUTRACEUTICALS, INC.
Date: November 6, 2000 By: /s/ Klee Irwin
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Klee Irwin
Chief Executive Officer
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