Attached files
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): May 17, 2011
SCIENTIFIC INDUSTRIES, INC.
______________________________________________________
(Exact name of registrant as specified in its charter)
Delaware 000-6658 04-2217279
_______________ ____________ __________________
(State or other (Commission (IRS Employer No.)
jurisdiction of File Number)
incorporation)
70 Orville Drive
Bohemia, New York 11716
______________________________________________________
(Address of principal executive offices)
(631) 567-4700
______________________________________________________
Registrant's telephone number, including area code
Not Applicable
______________________________________________________
(Former name or former address, if changed since last
report)
ITEM 8.01 OTHER EVENTS
Registrant announced on on May 17, 2011 that it has
agreed in principle with a privately held corporation
to acquire the licenses and sublicenses, including one with the
Company, held by that company with respect to patents owned by
the University of Maryland Baltimore County ("UMBC") related to
bioprocessing products, systems and methods.
Consummation of this acquisition will be subject to satisfaction
of specific onditions, including the execution of a purchase
agreement, and related research and development and non-competition
agreements, receipt of consents from UMBC and satisfactory results
of the Company's due diligence. The anticipated purchase price
will be approximately $890,000 payable in cash, a long term
promissory note and shares of the Company's common stock, plus a
contingent amount payable from fees and royalties received by the
Company under the licenses and sublicenses acquired. No assurance
can be given that a purchase agreement will be executed or that
the proposed purchase will be effected.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
(a) and (b) not applicable
(c) Exhibits
Exhibit No. Exhibit
__________ _________________________
10A-1 Copy of Press Release.
SIGNATURE
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.
SCIENTIFIC INDUSTRIES, INC.
(Registrant)
Date: May 17, 2011
By: /s/ Helena R. Santos
_________________________
Helena R. Santos,
President and Chief Executive
Officer