SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

 


FORM 8-K

 

CURRENT REPORT

 

Pursuant to Section 13 or 15(d) of

the Securities Act of 1934

 

Date of report (Date of earliest event reported):

April 16, 2015

 

 

INERGETICS, INC.

(Exact Name of Registrant as Specified in Charter)

 

Delaware

(State or Other Jurisdiction
of Incorporation)

0-3338

(Commission

File Number)

22-1558317

(IRS Employer
Identification No.)

 

550 Broad Street, Suite 1212, Newark, NJ 07102

(Address of Principal Executive Offices, including Zip Code)

 

Registrant's telephone number, including area code: (908) 604-2500

 

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

 

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 (see General Instruction A.2. below):

 

¨Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
  
¨Soliciting material pursuant to Rule 14a-12 under the Act (17 CFR 240.14a-12)
  
¨Pre-commencement communications pursuant to Rule 14d-2(b) under the Act (17 CFR 240.14d-2(b))
  
¨Pre-commencement communications pursuant to Rule 13e-4(c) under the Act (17 CFR 240.13e-4(c))

  

 

 

 
 

  

Item 1.01Entry into a Material Definitive Agreement.

 

On April 25, 2015, Inergetics, Inc. (the “Company”) received a letter dated April 16, 2015 (the “Notice”) from Martha Stewart Living Omnimedia, Inc. (“MSLO”) terminating the License Agreement (the “Agreement”) dated May 7, 2013 between MSLO and the Company. The Company’s management made the decision not to make payments under the Agreement. Pursuant to the Notice, the Agreement shall terminate on May 16, 2015. There is a six month period for the Company to sell through product inventory. The Company will continue to support sales and marketing during this period.

 

During the last quarter of 2014 and the fiscal year ended December 31, 2014, sales of products under the Agreement represented, respectively, approximately 20% and 52% of total sales. Accordingly, management does not believe that the termination of the Agreement will have a material adverse effect.

 

 

Signatures

 

Pursuant to the requirements of the Securities Act of 1934, the registrant has caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

Date:  May 1, 2015      
       
  INERGETICS, INC.  
       
       
  By: /s/ Michael C. James  
    Michael C. James  
    Chief Executive Officer and  
    Chief Financial Officer  

 

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