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 27, 2000
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
Options
The board granted non-qualified stock options to 17 officers, directors
and employees of the Company and its subsidiaries under its 1989 Stock Option
Plan. The options are exercisable at $1.38, the closing price of the common
stock on the date of grant, for a period of five years. The 1989 Plan was
approved by shareholders in 1994 and had 1,000,000 shares reserved for option
grants. To date, 3,000 options have been exercised and options for 855,000
shares are outstanding under the 1989 Plan.
Linux Financing
The Company has loaned Linux Global Partners, Inc. $200,000 at an annual
interest rate of 10%. The loan is for 30 days through September 8, 2000.
The financing to Linux Global Partners increases its existing $2,000,000 loan
to that company, which matures January 26, 2001. The Company has an 8%
ownership interest in Linux Global Partners.
Linux Global Partners is a private holding company investing these
borrowed funds in Linux related software companies. These Linux software
companies are involved in applications, utilities, embedded systems,
developer's tools, and games. The Company's financing is secured by Linux
Global Partners' ownership interests in those companies.
Linux is a freely distributable, independent operating system with
stability and scalability. Linux Global Partners, through its investments,
intends to expand Linux applications and make Linux more readily accessible
to the computing public.
The Company borrowed the funds it provided to Linux Global Partners, as
it had for the prior financing to that company, from its 59% owned public
subsidiary, Dialysis Corporation of America, at an interest rate of 10% per
annum.
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
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(c) Exhibits
(99) Additional Exhibits
(i)(a) Promissory Note for $200,000 from Linux Global Partners,
Inc. to the Company dated August 9, 2000.
(i)(b) Promissory Note for $200,000 from the Company to Dialysis
Corporation of America dated August 9, 2000.
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: August 10, 2000
