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): March 30,
2009
Medical
Alarm Concepts Holding, Inc.
(EXACT
NAME OF REGISTRANT AS SPECIFIED IN CHARTER)
Nevada
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333-153290
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(STATE OR OTHER
JURISDICTION OF
INCORPORATION OR
ORGANIZATION)
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(COMMISSION FILE
NO.)
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(IRS EMPLOYEE
IDENTIFICATION NO.)
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5215-C
Militia Hill Road
Plymouth
Meeting, PA 19462
(ADDRESS
OF PRINCIPAL EXECUTIVE OFFICES)
(877) 639-2929
(ISSUER
TELEPHONE NUMBER)
(FORMER
NAME OR FORMER ADDRESS, IF CHANGED SINCE LAST REPORT)
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 (see
General Instruction A.2. below):
¨ Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
¨ Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
¨ Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
¨ 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.
On March
30, 2009 (the “Closing
Date”), Medical Alarm Concepts Holding, Inc. (hereinafter, referred to as
“we” or “us”) entered into subscription agreements described below in Item 3.02
to sell Convertible Promissory Notes with attached Class A Common Stock Purchase
Warrants to accredited investor entities and individuals (individually, a “Purchaser,” and
collectively, the “Purchasers”).
Item
2.03 Creation of a Direct Financing Obligation or an Obligation under an
Off-Balance Sheet Arrangement of a Registrant.
On March
30, 2009, we entered into agreements that created material direct financial
obligations. The agreements are more fully described in Item 3.02
below.
Item
3.02 Unregistered Sale of Securities.
On March
30, 2009, we entered into a subscription agreements with each of the Purchasers
(the “Subscription
Agreement”), a copy of which is attached hereto as Exhibit 4.1. Pursuant
to the Subscription Agreement, we executed and agreed to deliver to the
Purchasers: (i) Convertible Promissory Notes in the aggregate principal amount
of $467,500 (each, a “Note” and
collectively, referred to as the “Notes”); and (ii) a
Class A Common Stock Purchase Warrant to purchase an aggregate of 200 % of the
number of shares of our Common Stock (each a “Warrant” and
collectively, referred to as the “Warrants”). A
form of the Note is attached as Exhibit 4.2 and a
form of the Warrant is attached as Exhibit
4.3.
The Notes
mature 13 months after the Closing Date (the “Maturity Date”) and
has an original issue discount of 10% but bears no additional
interest. For the term of the Note, it is convertible into shares of
our common stock, par value $0.001 (the “Common Stock”) at a
fixed conversion price (subject to adjustment from time to time upon the
occurrence of certain events) of $0.40 (the “Fixed Conversion
Price”). From and after the Maturity Date, the Conversion
Price shall be equal to the lesser of (i) the Fixed Conversion Price, or (ii)
ninety percent (90%) of the average of the closing bid price of our common stock
as reported by Bloomberg L.P. for the Principal Market for the five trading days
preceding to the date of the conversion of the Note. If the Principal Amount
with accrued interest is not paid off prior to the Maturity Date, we can pay any
amounts due under this Note as of the Maturity Date within five (5) days after
the Maturity Date (the “Grace Period”). After the Grace Period, the
interest rate will be increased to 10% per annum.
The
Warrant is exercisable at an exercise price of $0.45 per share (the “Exercise Price”) and
expires on the fifth anniversary of the Closing Date. The Exercise
Price is subject to standard adjustments and full ratchet price protection from
any anti-dilution.
The
sale of the Notes and Warrants were issued in reliance upon the exemption from
securities registration afforded by Rule 506 of Regulation D as promulgated
by the United States Securities and Exchange Commission under the Securities Act
of 1933, as amended (the “Securities Act”) or Section 4(2) of the
Securities Act.
Item 9.01. Financial
Statements and Exhibits.
(d)
Exhibits:
4.1
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Subscription
Agreement dated as of March 30, 2009 among the Company and the Purchasers
Listed on the signature page thereto.
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4.2
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Convertible
Promissory Note
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4.3
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Class
A Common Stock Purchase
Warrant
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SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Company has duly
caused this report to be signed on its behalf by the undersigned hereunto duly
authorized.
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MEDICAL
ALARM CONCEPTS HOLDING, INC.
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Date:
April 1, 2009
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By:
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/s/
Howard Teicher
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Howard
Teicher
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Chief
Executive Officer,
Chief
Financial Officer
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