0001021408-01-508881.txt : 20011031 0001021408-01-508881.hdr.sgml : 20011031 ACCESSION NUMBER: 0001021408-01-508881 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20011029 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20011029 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DRUGMAX COM INC CENTRAL INDEX KEY: 0000921878 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-HEALTH SERVICES [8000] IRS NUMBER: 341755390 STATE OF INCORPORATION: NV FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-15445 FILM NUMBER: 1768533 BUSINESS ADDRESS: STREET 1: 12505 STARKEY RD STREET 2: SUITE A CITY: LARGO STATE: FL ZIP: 33773 BUSINESS PHONE: 7275330431 MAIL ADDRESS: STREET 1: 6950 BRYAN DAIRY ROAD CITY: LARGO STATE: FL ZIP: 33777 FORMER COMPANY: FORMER CONFORMED NAME: NUMED SURGICAL INC DATE OF NAME CHANGE: 19940419 FORMER COMPANY: FORMER CONFORMED NAME: NUTRICEUTICALS COM CORP DATE OF NAME CHANGE: 19990629 8-K 1 d8k.txt FORM 8-K 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 29, 2001 DrugMax, Inc. ------------- Formerly known as DrugMax.com, Inc. ----------------------------------- (Exact name of registrant as specified in its charter) STATE OF NEVADA 1-15445 34-1755390 --------------- ------- ---------- (State or other jurisdiction of incorporation) (Commission File Number) (IRS Employer Identification No.)
12505 Starkey Road, Suite A Largo, Florida 33773 (Address of principal executive offices) Registrant's telephone number, including area code: (727) 533-0431 Item 5. Other Events. ------------ On October 29, 2001, DrugMax, Inc. (the "Company") issued a press release to announce the finalization of the Company's loan modification agreement with LaSalle Business Credit, Inc. formerly Mellon Business Credit. A copy of the press release, which is incorporated by reference herein and made a part hereof, is filed with this Current Report on Form 8-K as Exhibit 99. Item 7. Financial Statements and Exhibits. ---------------------------------- (c) Exhibits. --------- Exhibit Number Exhibit Description ------- ------------------- 99.1 Press Release dated October 29, 2001. SIGNATURE --------- Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this Report to be signed on its behalf by the undersigned thereunto duly authorized. DRUGMAX, INC. By: /s/ William L. LaGamba ----------------------------------- William L. LaGamba, President and Chief Operations Officer Dated: October 29, 2001 ------------------------- EXHIBIT INDEX Exhibit Number Exhibit Description ------ ------------------- 99.1 Press Release, dated October 29, 2001. EX-99.1 3 dex991.txt PRESS RELEASE [LOGO] Company Media/IR Contact: DrugMax, Inc. Eli Johnson 727.533.0431 ejohnson@DrugMax.com DRAFT 4 -- DrugMax, Inc. Secures $23 Million in Financing From LaSalle Business Credit, Inc. LARGO, Fla. - October 29, 2001 -- DrugMax, Inc. (Nasdaq: DMAX) a full-line wholesale distributor of pharmaceuticals, over-the-counter products, health and beauty aids and nutritional supplements, announced that the Company has reached a loan modification agreement with LaSalle Business Credit, Inc., formerly Mellon Business Credit. The loan modification increases DrugMax's asset-based line of credit from $15 million to $23 million. "Access to working capital is an extremely important component of funding long- term corporate growth," William LaGamba, President and Chief Operating Officer, said. "Acquiring financing for a company is still a pretty challenging venture, however, we believe that our improved financial position and internal growth rate have afforded us the opportunity to secure this funding. In addition, DrugMax is strategically positioned within the pharmaceutical industry that is reporting double-digit growth each year." "DrugMax is pleased to continue doing business with LaSalle Business Credit," Ron Patrick, Chief Financial Officer, said. "Both parties have worked diligently to build and maintain a mutually beneficial relationship." LaSalle Business Credit, with over $7.0 billion in lending commitments, specializes in providing secured working capital and term financing for middle market companies in the manufacturing, distribution, retail and service industries. LaSalle Business Credit has 17 offices throughout the U.S. and has made loans in 46 states. LaSalle Business Credit is a subsidiary of Chicago- based LaSalle Bank, one of the Midwest's largest banks with $52 billion in assets. DrugMax also announced that with the financing in place, the Company plans to discontinue its efforts to raise funds through its previously filed secondary offering. About DrugMax, Inc. DrugMax, Inc. (the "Company") is primarily a full-line, wholesale distributor of pharmaceuticals, over-the-counter products, health and beauty care products, and nutritional supplements. The Company expects that it will continue to derive a significant portion of its revenue from its traditional "brick and mortar" full- line wholesale distribution business. However, the Company is also one of the early entrants into the Internet business-to-business pharmaceutical market and one of the first business-to-business online trade exchanges for the same products. The Company utilizes its online capabilities to leverage its existing infrastructure, technology, relationships, marketing and management resources and, accordingly, believes that the combination of its traditional wholesale distribution business with both its online wholesale distribution business and its e-commerce trade exchange provides the "click and mortar" combination that allows it to aggressively market and distribute its products and services. The Company can be reached at www.drugmax.com, or 727-533-0431. --------------- [LOGO] Safe Harbor Provisions Certain oral statements made by management from time to time and certain statements contained herein that are not historical facts are "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934 and, because such statements involve risks and uncertainties, actual results may differ materially from those expressed or implied by such forward- looking statements. Forward-looking statements are statements regarding the intent, belief or current expectations, estimates or projections of the Company, its directors or its officers about the Company and the industry in which it operates, and are based on assumptions made by management. Forward-looking statements include without limitation statements regarding: (a) the Company's strategies regarding growth and business expansion, including future acquisitions; (b) the Company's financing plans; (c) trends affecting the Company's financial condition or results of operations; (d) the Company's ability to continue to control costs and to meet its liquidity and other financing needs; (e) the declaration and payment of dividends; (f) the Company's use of proceeds from the currently contemplated equity offering, and (g) the Company's ability to respond to changes in customer demand and regulations. Although the Company believes that its expectations are based on reasonable assumptions, it can give no assurance that the anticipated results will occur. When used in this report, the words "expects," "anticipates," intends," "plans," "believes," "seeks," "estimates," and similar expressions are generally intended to identify forward-looking statements. Important factors that could cause the actual results to differ materially from those in the forward-looking statements include, among other items, (i) changes in the regulatory and general economic environment related to the health care industry; (ii) conditions in the capital markets, including the interest rate environment and the availability of capital; (iii) changes in the competitive marketplace that could affect the Company's revenue and/or cost and expenses, such as increased competition, lack of qualified marketing, management or other personnel, and increased labor and inventory costs; (iv) changes in technology or customer requirements, which could render the Company's technologies noncompetitive or obsolete; (v) new product introductions, product sales mix and the geographic mix of sales and (vi) the Company's customers' willingness to accept its Internet platform. Further information relating to factors that could cause actual results to differ from those anticipated is included but not limited to information under the headings "Management's Discussion and Analysis of Financial Conditions and Results of Operations," "Business" and "Risk Factors" in the Company's Form 10-KSB for the year ended March 31, 2001 and Form 10-QSB for the quarter ended June 30, 2001. The Company disclaims any intention or obligation to update or revise forward-looking statements, whether as a result of new information, future events or otherwise.