Attached files
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EX-99.1 - PRESS RELEASE - Hubei Minkang Pharmaceutical Ltd. | ex99-1.htm |
EX-10.1 - LOAN CONTRACT - Hubei Minkang Pharmaceutical Ltd. | ex10-1.htm |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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 7, 2012 |
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HUBEI MINKANG PHARMACEUTICAL LTD. |
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Nevada |
000-53231 |
26-2410685 |
55 Ubi Ave. 3, #03-01, Mintwell Building |
408864 |
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Registrant's telephone number, including area code +65-6747-7883 |
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N/A |
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act
(17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4© under the Exchange Act
(17 CRF 240.13e-4(c))
SECTION 1 - REGISTRANT'S BUSINESS AND OPERATIONS
Item 1.01 Entry into a Material Definitive Agreement
On May 7, 2012, our indirect wholly-owned subsidiary, Hubei Minkang Pharmaceutical Co., Ltd. ("Hubei Minkang PRC"), and Bank of Communications Co., Ltd., Yichang Branch, ("Bank of Communications") executed a loan contract (the "Loan Contract"), where Hubei Minkang PRC loaned RMB 10,000,000 to be used as liquidity, with a loan period from May 7, 2012 to May 7, 2013 and having an interest rate of 7.872% per annum, which is calculated and paid on the 20th of each month, with principal due May 7, 2013.
The foregoing description of Loan Contract does not purport to be complete and is qualified in its entirety by reference to the Loan Contract, which is filed as Exhibit 10.1 hereto, and is incorporated by reference herein.
The Loan Contract is secured by the same two maximum pledge contracts (collectively, the "Maximum Pledge Contracts"), dated January 13, 2011 and May 1, 2011, respectively, between Hubei Minkang PRC and Bank of Communications. Under the Maximum Pledge Contracts, the Loan Contract is collateralized by certain of Hubei Minkang PRC's buildings and land use rights.
The foregoing description of the Maximum Pledge Contracts do not purport to be complete and are qualified in their entirety by reference to the Maximum Pledge Contracts, which were filed as Exhibits 10.7 ad 10.8 to our Current Report on Form 8-K filed on September 26, 2011, and are incorporated by reference herein.
SECTION 2 - FINANCIAL INFORMATION
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
The disclosure under Item 1.01 of this Current Report on Form 8-K is responsive to this item and is incorporated by reference herein.
SECTION 7 - REGULATION FD
Item 7.01 Regulation FD Disclosure
On May 15, 2012, we issued a press release about the closing of a recent private placement involving the sale of 1,130,270 shares of our common stock at a price of $0.70 per share for gross proceeds of $791,189.
A copy of the press release is attached as Exhibit 99.1 hereto.
SECTION 9 - FINANCIAL STATEMENTS AND EXHIBITS
Item 9.01
Financial Statements and Exhibits(a) Financial Statements of Business Acquired.
Not applicable.
(b) Pro Forma Financial Information.
Not applicable.
(c) Shell Company Transactions.
Not applicable.
(d) Exhibits.
Exhibit No. |
Description of Exhibit |
10.1 |
Loan Contract, dated May 7, 2012, among Hubei Minkang Pharmaceutical Co., Ltd. and Bank of Communications Co., Ltd., Yichang Branch, for RMB 10,000,000. |
99.1 |
Press Release dated May 15, 2012. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
Date: May 15, 2012
Hubei Minkang Pharmaceutical Ltd. |
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By: |
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/s/ Grace Ang |
Name: |
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Grace Ang |
Title: |
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Secretary, Treasurer and Director |