8-K 1 biomerica_8k-052708.txt CURRENT REPORT ON FORM 8-K SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 May 27, 2008 ------------------------------------------------ Date of Report (date of earliest event reported) BIOMERICA, INC. ----------------------------------------------------- (Exact Name of Registrant as Specified in its Charter) DELAWARE 0-8765 95-2645573 -------------- ----------- ---------- (State or Other (Commission (IRS Employer Jurisdiction of File Number) Identification Number) Incorporation) 1533 Monrovia Avenue Newport Beach, California 92663 -------------------------------------- (Address of Principal Executive Offices Including Zip Code) 949-645-2111 ------------------------------- (Registrant's Telephone Number, Including Area Code) -------------- (Former Name or Former Address if Changed Since Last Report) Page 1 of 2 pages Item 8.01 Other Events - On May 27, 2008, Biomerica sold its investment in Lancer Orthodontics, Inc., in a private transaction. Net proceeds from the sale were $1,083,444. The investment was carried on the Biomerica balance sheet at date of sale at a value of $464,823 and therefore results in a realized gain of $618,621. 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. Dated: May 28, 2008 Biomerica, Inc. By: /s/ Zackary S. Irani -------------------- Zackary S. Irani Chief Executive Officer Page 2 of 2 pages