-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, NbSjWL2V/LmJWA4KWAuVyLtzfrowyG7mVn5BH9ZG4SRF/UTw5nJDuC7RuE7Ey4X+ AjviYK74ZDcRPvasLGvaQg== 0001144204-07-041994.txt : 20070810 0001144204-07-041994.hdr.sgml : 20070810 20070810161753 ACCESSION NUMBER: 0001144204-07-041994 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20070626 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20070810 DATE AS OF CHANGE: 20070810 FILER: COMPANY DATA: COMPANY CONFORMED NAME: POWER 3 MEDICAL PRODUCTS INC CENTRAL INDEX KEY: 0001063530 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMMERCIAL PHYSICAL & BIOLOGICAL RESEARCH [8731] IRS NUMBER: 650565144 STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-24921 FILM NUMBER: 071045583 BUSINESS ADDRESS: STREET 1: 3400 RESEARCH FOREST DR STREET 2: SUITE B2-3 CITY: THE WOODLANDS STATE: TX ZIP: 77381 BUSINESS PHONE: 281-466-1600 MAIL ADDRESS: STREET 1: 3400 RESEARCH FOREST DR STREET 2: SUITE B2-3 CITY: THE WOODLANDS STATE: TX ZIP: 77381 FORMER COMPANY: FORMER CONFORMED NAME: SURGICAL SAFETY PRODUCTS INC DATE OF NAME CHANGE: 19980924 8-K 1 v084145_8k.htm
 
UNITED STATES
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): June 26, 2007
 
Power3 Medical Products, Inc.
(Exact name of registrant as specified in its charter)
 
New York
 
000-24921
 
65-0565144
(State or other jurisdiction of incorporation
or organization)
 
(Commission File Number)
 
(I.R.S. Employer Identification No.)
 
3400 Research Forest Drive, Suite B2-3
The Woodlands, Texas  77381
(Address of principal executive offices and zip code)
 
(281) 466-1600
(Registrant’s telephone number, including area code)
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
 
o  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
o  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
o  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
o  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 
 
 

Item 1.01
Entry into a Material Definitive Agreement

In 2007, a lawsuit was filed by Crestview Capital Master, LLC (“Crestview” or “Plaintiff”), Index No. 601862/07, in the Supreme Court of the State of New York, County of New York, seeking specific performance and money damages against Power 3 Medical Products, Inc. (“Power3”, or the “Company”) The lawsuit arose from a dispute concerning the number of shares to be issued to Crestview by Power3 in connection with (i) a $150,000 principal amount convertible debenture and common stock purchase warrant issued to Crestview on October 28, 2004 and (ii) a $150,000 principal amount convertible debenture and common stock purchase warrant issued to Crestview on January 26, 2005 (collectively, the “Transaction Documents”).

On July 31, 2007, Power3 entered into a Settlement Agreement and Release (the “Settlement Agreement”), with the Plaintiff. The terms of the Settlement Agreement require Power3 to issue an aggregate of 3,793,301 shares (the “Shares”) of the Company’s common stock in full satisfaction of the Transaction Documents. Upon the filing by Power3 of a Stipulation of Discontinuance letter signed by Crestview, the lawsuit shall be dismissed, it its entirety and with prejudice, and as a result of the Settlement Agreement, each of the parties is released by the other from all known and unknown claims.

Item 9.01
Financial Statements and Exhibits

(c)
Exhibits

Exhibit Number
Description

Exhibit 10.1
Settlement Agreement and Release between Power3 Medical Products, Inc. and Crestview Capital Master, LLC


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.
 
     
 
Power3 Medical Products, Inc.
 
 		  
 		  
 
  By:   /s/Steven B. Rash
 
Steven B. Rash
 
Chairman and CEO

Date: August 10, 2007
 
 
 
 
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