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) September 30, 1999
MEDICORE, INC.
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(Exact name of registrant as specified in its charter)
Florida 0-6906 59-0941551
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
2337 West 76th Street, Hialeah, Florida 33016
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (305) 558-4000
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Item 5. Other Events
Effective September 30, 1999, the Company converted a promissory note
of Techdyne, Inc., its 65% owned public subsidiary ("Techdyne") into equity
of Techdyne. The Techdyne convertible note balance at September 30, 1999
was $2,531,941, which included approximately $105,000 in interest for the
nine months ended September 30, 1999. Techdyne initially issued an
unsecured promissory note convertible into Techdyne common stock at a
conversion ratio of $1.75 per share in 1995 at an annual interest rate of
5.7%. The Company had converted $350,000 of the note for 200,000 shares
of Techdyne common stock in 1996 and $875,000 of the note for 500,000
shares of Techdyne common stock in 1997, giving the Company an aggregate
ownership of 3,227,797 shares of Techdyne common stock. The conversion of
the Techdyne note provides the Company with an additional 1,446,823 shares
of Techdyne common stock or an aggregate of 4,674,620 shares of Techdyne
common stock for an ownership interest in that public subsidiary of approxi-
mately 73%.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
(a) Financial Statements of Businesses Acquired
Not Applicable
(b) Pro Forma Financial Information
Not Applicable
(c) Exhibits
None
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.
MEDICORE, INC.
/s/ Thomas K. Langbein
By--------------------------------
THOMAS K. LANGBEIN, Chairman
of the Board, CEO and President
Dated: October 12, 1999
