8-K

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): October 10, 2016

EMERALD MEDICAL APPLICATIONS CORP.
(Exact Name of Registrant as Specified in its Charter)

Commission File No.: 0-15476

Delaware	68-0080601
(State of Incorporation)	(I.R.S. Employer Identification No.)
7 Imber Street, Petach Tikva, Israel	4951141
(Address of Principal Executive Offices)	(ZIP Code)

Registrant's Telephone Number, including area code: (972) 3-744-4505

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 1.02 Termination of a Material Definitive Agreement.

On May 18, 2016, Emerald Medical Applications Corp. (the "Registrant") filed a Form 8-K reporting that on May 12, 2016, it had entered into an Equity Purchase Agreement and a Registration Rights Agreement with Kodiak Capital Group, LLC, a limited liability company organized under the laws of the State of Delaware with offices located in Newport Beach, CA ("Kodiak"). Under the Equity Purchase Agreement (the "EPA"), the Registrant: (i) agreed to issue and sell to Kodiak and Kodiak agreed to purchase up to $1,000,000 of the Registrant's common stock; (ii) issued Kodiak 150,000 restricted shares as a commitment fee; and (iii) executed a Registration Rights Agreement pursuant to which the Registrant has agreed to file a registration statement to register for resale the underlying the EPA and the 150,000 commitment shares.

On October 10, 2016, Emerald Medical Applications Corp. (the "Registrant") served notice on Kodiak that it was: (i) terminating the EPA pursuant to Section 10.5 of that agreement; and (ii) amending the pending registration statement on Form S-1 that had been filed with the SEC on July 27, 2015 for the purpose of removing the shares underlying the EPA commitment as well as the commitment shares. A copy of the letter of termination is attached hereto as Exhibit 10.36.

Item 9.01 Financial Statements and Exhibits

(b) The following documents are filed as exhibits to this current report or incorporated by reference herein. Any document incorporated by reference is identified by a parenthetical reference to the SEC filing that included such document.

Exhibit No.	Description
10.36	Termination Letter to Kodiak Capital Group, LLC dated October 10, 2016, filed herewith.

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.

/s/ Adi Zamir
CEO
Adi Zamir
  Date: October 17, 2016

EX-10 2 exh10_36.htm EXHIBIT 10.36

7 Imber Street
Petach Tikva, 4951141
Israel
October 10, 2016

Kodiak Capital Group, LLC
Attn: Ryan Hodson
Managing Director
260 Newport Center Drive
Newport Beach, CA 92660

Re: Notice of Termination
Equity Purchase Agreement

Dear Mr. Hodson:

Please accept this letter as notice by Emerald Medical Applications Corp. (the "Company") of the termination of the Equity Purchase Agreement between the Company and Kodiak Capital Group, LLC ("Kodiak") dated May 12, 2016 (the "EPA") pursuant to Section 10.5 of the EPA. There are several reasons for our election to terminate the EPA and amend the registration statement filed on July 27, 2016 (the "Registration Statement") to remove the Put Shares issuable to Kodiak as well as the Commitment Shares issued to Kodiak on May 18, 2016, including, among other reasons, the following:

In the SEC comment letter with respect to the Registration Statement, they state:

"It appears that the Equity Purchase Agreement contains a provision that may result in Kodiak Capital Group LLC not being irrevocably bound to purchase the shares that you elect to put under the agreement. In this regard, Section 7.2(f) of the Equity Purchase Agreement states that the obligation of an investor to acquire and pay for Put Shares is conditioned on the fact that there has been no suspension of trading in or delisting of your common stock."

"If Kodiak Capital Group LLC is not irrevocably bound to purchase the put shares, you should: (i) amend your registration statement to eliminate the shares to be issued pursuant to the Equity Purchase Agreement from your present offering; or (ii) amend the Equity Purchase Agreement as appropriate and register the shares to be issued pursuant to the Equity Purchase Agreement on a new Form S-1."

As a result of the SEC's statement that Kodiak is not irrevocably bound to purchase the [put] shares, we are required to amend the Registration Statement to eliminate the Kodiak Put Shares pursuant to the EPA. In the alternative, the SEC stated that we can elect to amend the EPA "as appropriate" and register the Put Shares on a new S-1. We are not willing to incur the expense and delay that option (ii) above provides;
(ii) As a result of the fact that the SEC deems that Kodiak is not irrevocably bound to purchase the Put Shares, Kodiak's commitment in the EPA to do so is conditional and not a binding commitment. Accordingly, the 150,000 Commitment Shares that were issued to Kodiak on May 18, 2016, were issued for "no consideration" and are, as a result, not "fully-paid" shares. Therefore, the holding period under Rule 144(d) has not and will not "run" and the Commitment Shares are not eligible for resale under Rule 144.

Based upon the foregoing, we have determined not to proceed with the Kodiak EPA and further demand the return of all of the 150,000 Commitment Shares within five (5) business days of this letter of termination.

Respectfully,

/s/: Adi Zamir
Adi Zamir, CEO

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EX-10

7 Imber Street
Petach Tikva, 4951141
Israel
October 10, 2016

Kodiak Capital Group, LLC
Attn: Ryan Hodson
Managing Director
260 Newport Center Drive
Newport Beach, CA 92660

Re: Notice of Termination
Equity Purchase Agreement

Dear Mr. Hodson:

Please accept this letter as notice by Emerald Medical Applications Corp. (the "Company") of the termination of the Equity Purchase Agreement between the Company and Kodiak Capital Group, LLC ("Kodiak") dated May 12, 2016 (the "EPA") pursuant to Section 10.5 of the EPA. There are several reasons for our election to terminate the EPA and amend the registration statement filed on July 27, 2016 (the "Registration Statement") to remove the Put Shares issuable to Kodiak as well as the Commitment Shares issued to Kodiak on May 18, 2016, including, among other reasons, the following:

In the SEC comment letter with respect to the Registration Statement, they state:

"It appears that the Equity Purchase Agreement contains a provision that may result in Kodiak Capital Group LLC not being irrevocably bound to purchase the shares that you elect to put under the agreement. In this regard, Section 7.2(f) of the Equity Purchase Agreement states that the obligation of an investor to acquire and pay for Put Shares is conditioned on the fact that there has been no suspension of trading in or delisting of your common stock."

"If Kodiak Capital Group LLC is not irrevocably bound to purchase the put shares, you should: (i) amend your registration statement to eliminate the shares to be issued pursuant to the Equity Purchase Agreement from your present offering; or (ii) amend the Equity Purchase Agreement as appropriate and register the shares to be issued pursuant to the Equity Purchase Agreement on a new Form S-1."

As a result of the SEC's statement that Kodiak is not irrevocably bound to purchase the [put] shares, we are required to amend the Registration Statement to eliminate the Kodiak Put Shares pursuant to the EPA. In the alternative, the SEC stated that we can elect to amend the EPA "as appropriate" and register the Put Shares on a new S-1. We are not willing to incur the expense and delay that option (ii) above provides;
(ii) As a result of the fact that the SEC deems that Kodiak is not irrevocably bound to purchase the Put Shares, Kodiak's commitment in the EPA to do so is conditional and not a binding commitment. Accordingly, the 150,000 Commitment Shares that were issued to Kodiak on May 18, 2016, were issued for "no consideration" and are, as a result, not "fully-paid" shares. Therefore, the holding period under Rule 144(d) has not and will not "run" and the Commitment Shares are not eligible for resale under Rule 144.

Based upon the foregoing, we have determined not to proceed with the Kodiak EPA and further demand the return of all of the 150,000 Commitment Shares within five (5) business days of this letter of termination.

Respectfully,

/s/: Adi Zamir
Adi Zamir, CEO