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: June 30, 2007
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AcuNetx, Inc.
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(Exact name of registrant as specified in its charter)
Nevada 0-27857 88-0249812
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
2301 W. 205th Street, Suite 205
Torrance, CA 90501
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(Address of principal executive offices)
The Company's telephone number, including area code:
(310) 328-0477
ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT
On June 30, 2007, OrthoNetx, Inc., a subsidiary of AcuNetx, Inc., entered
into an Agreement for Extension and Amendment of Note (the "Agreement") with
Randolph C. Robinson, M.D., a former director of the Company ("Robinson"). Under
the Agreement, the Company's subsidiary, OrthoNetx, Inc. executed an Amended and
Extended Promissory Note in favor of Robinson, in the principal amount of
$268,551.25. The new note replaces a Promissory Note issued by OrthoNetx, Inc.,
on January 30, 2005 in the original principal amount of $300,000. The new note
bears interest at 13% per annum, and provides for payments of interest only
until February 1, 2008, at which time payments of principal and interest will
commence based on a 36- month amortization. All principal and interest is due on
August 1, 2009.
Under the Agreement, AcuNetx entered into a Commercial Guaranty under
which it guaranteed payment of the Note. Also, Robinson entered into a
Termination of Guaranty in favor of Terry Knapp, a director of the Company, in
which Robinson released Knapp from his guaranty of the original Note.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.
(C) EXHIBITS
Exhibit
Number Description
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99.1 Agreement for Extension and Amendment of Note, dated June 30, 2007
99.2 Amended and Extended Promissory Note, dated June 30, 2007
99.3 Commercial Guaranty, dated June 30, 2007
99.4 Termination of Guaranty, dated June 30, 2007
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, thereunto duly authorized.
AcuNetx, Inc., a Nevada
corporation
By: /s/ Ronald A. Waldorf
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Ronald A. Waldorf, President
Date: July 27, 2007