Search the web
Welcome, Guest
[Sign Out, My Account]
EDGAR_Online

Quotes & Info
Enter Symbol(s):
e.g. YHOO, ^DJI
Symbol Lookup | Financial Search
MDRM.OB > SEC Filings for MDRM.OB > Form 8-K on 10-Aug-2011All Recent SEC Filings

Show all filings for MODERN MOBILITY AIDS, INC. | Request a Trial to NEW EDGAR Online Pro

Form 8-K for MODERN MOBILITY AIDS, INC.


10-Aug-2011

Entry into a Material Definitive Agreement


Item 1.01 Entry Into a Material Definitive Agreement.

On August 4, 2011, through a fully owned subsidiary that we incorporated under laws of Toronto, Canada, we entered into a share exchange agreement to acquire all of the outstanding common stock of Lumigene Technologies, Inc. ("Lumigene"). Lumigene is, a corporation organized in Ontario, Canada, in the business of developing point of source infectious disease diagnostic machines which will enable health professionals to quickly and effectively diagnose and treat infectious diseases. Its products are the subject of ongoing research and development efforts. Lumigene has realized no revenue to date.

Our aggregate purchase price for the shares and certain debt owed to the current shareholders of Lumigene is $1,000,000, an additional $480,000 if certain post closing milestones are satisfied and 2% of all gross revenue realized from the business after the closing. The purchase price is reflected in Canadian dollars.

The closing of this transaction is subject to various conditions including our satisfactory completion of due diligence within 60 days from August 4, 2011 and procuring various consents that may be required under Lumigene's existing contracts with third parties. Furthermore, we will need to raise the funds necessary to close the transaction as well as to provide working capital to allow Lumigene to continue the development of its products. There can be no assurance that the conditions precedent to closing this transaction will be satisfied or that we will be able to raise the funds necessary to consummate the transaction.

Item 9.01  Exhibits.



Exhibit No. Description of Exhibit

10.2        Share Purchase Agreement dated August 4, 2011 between MDRM Group
            (Canada) Ltd. (of the first part), Michalkoff Family Trust, Hrycyshyn
            Family Trust and Stolarchuk Family Trust (of the second part),
            Lumigene Technologies Inc. (of the third part)and Mark Michalkoff,
            Roman Hrycyshyn and Danylo Stolarchuk (of the fourth part).


99.1        Press Release issued August 10, 2011


  Add MDRM.OB to Portfolio     Set Alert         Email to a Friend  
Get SEC Filings for Another Symbol: Symbol Lookup
Quotes & Info for MDRM.OB - All Recent SEC Filings
Sign Up for a Free Trial to the NEW EDGAR Online Pro
Detailed SEC, Financial, Ownership and Offering Data on over 12,000 U.S. Public Companies.
Actionable and easy-to-use with searching, alerting, downloading and more.
Request a Trial      Sign Up Now


Copyright © 2011 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service
SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informational purposes only, not intended for trading purposes or advice. Neither Yahoo! nor any of independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. By accessing the Yahoo! site, you agree not to redistribute the information found therein.