ITEM 1.01. ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT

On May 30, 2012, the Company entered into an Amendment to its Secured Multi-Draw Term Loan Facility Agreement (the "Facility Agreement") with each of Thomas Girschweiler, a director and stockholder of the Company, and Walter Villiger, an affiliate of the Company, each a non-U.S. Person ("U.S. Person" being defined in Regulation S of the Securities Act of 1933, as amended) (collectively, the "Investors"), pursuant to which (i) the amount of the Investor's Facility (as defined in the Facility Agreement) was increased to $5,750,000, and (ii) the maturity date of the Investor's Facility was extended to January 11, 2016. The Note previously delivered to each of the Investors also was amended to reflect the changes to the Facility Agreement. In consideration of such amendments, the Company issued to each of the Investors a five-year warrant to purchase 1,000,000 shares of the Company's Common Stock, par value $0.001 per share, at a price of $0.08 per share.

ITEM 8.01. OTHER EVENTS

On June 1, 2012, the Company issued the press release attached hereto as Exhibit 99.1.

ITEM 9.01(d). EXHIBITS

Exhibit # Description

99.1 Press release dated June 1, 2012.

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