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MMMS > SEC Filings for MMMS > Form 8-K on 24-Jul-2013All Recent SEC Filings

Show all filings for MEDYTOX SOLUTIONS, INC. | Request a Trial to NEW EDGAR Online Pro

Form 8-K for MEDYTOX SOLUTIONS, INC.


24-Jul-2013

Entry into a Material Definitive Agreement, Creation of a Direct Financia


Item 1.01. Entering into a Material Definitive Agreement

As previously reported in the Form 8-K filed on May 21, 2012, on May 14, 2012, Medytox Solutions, Inc. ("Medytox") borrowed $550,000 from TCA Global Credit Master Fund, LP ("TCA") pursuant to the terms of the Senior Secured Revolving Credit Facility Agreement, dated as of April 30, 2012, among Medytox, Medytox Medical Marketing & Sales, Inc., Medytox Diagnostics, Inc., PB Laboratories, LLC and TCA. As further previously reported in the Form 8-K filed on August 15, 2012, on August 8, 2012, Medytox borrowed an additional $525,000 from TCA pursuant to the terms of Amendment No. 1 to Senior Secured Revolving Credit Facility Agreement, dated as of July 31, 2012. Moreover, as previously reported in the Form 8-K filed on December 17, 2012, on December 4, 2012, Medytox borrowed an additional $650,000 from TCA pursuant to the terms of Amendment No. 2 to Senior Secured Revolving Credit Facility Agreement, dated as of October 31, 2012. In addition, as previously reported in the Form 8-K filed on March 15, 2013, on March 4, 2013, Medytox borrowed an additional $800,000 from TCA pursuant to the terms of Amendment No. 3 to Senior Secured Revolving Credit Facility Agreement, dated as of February 28, 2013 (as so amended, the "Credit Agreement"). On July 15, 2013, Medytox borrowed an additional $500,000 from TCA pursuant to the terms of Amendment No. 4 to Senior Secured Revolving Credit Facility Agreement, dated as of June 30, 2013 ("Amendment No. 4"). In connection with Amendment No. 4, each of International Technologies, LLC ("International") and Alethea Laboratories, Inc. ("Alethea"), wholly-owned subsidiaries of Medytox, entered into a Guaranty Agreement to guaranty the TCA loan and a Security Agreement to pledge substantially all of its assets to secure its guaranty. The maturity date of the loan was extended to January 15, 2014, subject to TCA's continuing ability to call the loan upon 60 days' notice.

Medytox paid certain fees to TCA, as set forth in Amendment No. 4.

In connection with Amendment No. 4, Medytox executed an Amended and Restated Revolving Promissory Note, due January 15, 2014, in the amount of $3,025,000.
Except as provided in Amendment No. 4, the terms of the Credit Agreement remain in full force and effect.

There are no material relationships between Medytox or any of its affiliates and TCA, other than with respect to the Credit Agreement and Amendment No. 4.

The foregoing is qualified in its entirety by reference to (i) Amendment No. 4, a copy of which is filed herewith as Exhibit 10.1, (ii) the Fourth Amended and Restated Revolving Promissory Note, a copy of which is filed herewith as Exhibit 10.2, (iii) the Guaranty Agreement, dated as of July 15, 2013, by International in favor of TCA, a copy of which is filed herewith as Exhibit 10.3, (iv) the Security Agreement, dated as of July 15, 2013, between International and TCA, a copy of which is filed herewith as Exhibit 10.4, (v) the Guaranty Agreement, dated as of July 15, 2013, by Alethea in favor of TCA, a copy of which is filed herewith as Exhibit 10.5, and (vi) the Security Agreement, dated as of July 15, 2013, between Alethea and TCA, a copy of which is filed herewith as Exhibit 10.6.

{26761716;2}




Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

The information set forth above in Item 1.01 is incorporated by reference.



Item 9.01. Financial Statements and Exhibits

(d)  Exhibits

           Exhibit Number                         Description
                10.1                 Amendment No. 4 to Senior Secured
                                     Revolving Credit Facility Agreement,
                                     dated as of June 30, 2013, among
                                     Medytox Solutions, Inc., Medytox
                                     Medical Marketing & Sales, Inc.,
                                     Medytox Diagnostics, Inc., PB
                                     Laboratories, LLC, Biohealth Medical
                                     Laboratory, Inc., Advantage Reference
                                     Labs, Inc., International
                                     Technologies, LLC, Alethea
                                     Laboratories, Inc. and TCA Global
                                     Credit Master Fund, LP
                10.2                 Fourth Amended and Restated Revolving
                                     Promissory Note, dated June 30, 2013
                                     (effective date July 15, 2013),
                                     issued by Medytox Solutions, Inc. to
                                     TCA Global Credit Master Fund, LP
                10.3                 Guaranty Agreement, dated as of July
                                     15, 2013, by International
                                     Technologies, LLC in favor of TCA
                                     Global Credit Master Fund, LP
                10.4                 Security Agreement, dated as of July
                                     15, 2013, between International
                                     Technologies, LLC and TCA Global
                                     Credit Master Fund, LP
                10.5                 Guaranty Agreement, dated as of July
                                     15, 2013, by Alethea Laboratories,
                                     Inc. in favor of TCA Credit Master
                                     Fund, LP
                10.6                 Security Agreement, dated as of July
                                     15, 2013, between Alethea
                                     Laboratories, Inc. and TCA Global
                                     Credit Master Fund, LP

{26761716;2}


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