UNITED STATES
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): April 19, 2004
DIGITAL ANGEL CORPORATION
(Exact name of registrant as specified in its charter)
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Delaware |
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1-15177 |
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52-1233960 |
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(State of other
jurisdiction |
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(Commission File Number) |
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(I.R.S. Employer |
490 Villaume Avenue, South St. Paul, MN 55075
(Address of Principal Executive Offices) (Zip Code)
(Registrant’s telephone number, including area code) (651) 455-1621
Not applicable.
(Former name or former address, if changed since last report.)
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Item 2. |
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Acquisition or Disposition of Assets |
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On April 19, 2004, Digital Angel Corporation sold certain assets of its Medical Systems segment’s medical services business pursuant to an Asset Purchase Agreement dated April 8, 2004 by and between Digital Angel Corporation and MedAire, Inc. Assets purchased include all of the tangible and intangible intellectual property developed for the operation of the Medical Systems segment’s medical services business, pharmaceutical supplies and other inventory items, customer and supplier contracts, computer software licenses, internet website and domain name and mailing lists. |
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Under the terms of the agreement, the purchase price, in addition to MedAire, Inc.’s assumption of certain liabilities was $420,000 plus any prepaid deposits and the cost of the pharmaceutical inventory and supplies reduced by any pre-billing to or pro-rata prepayment by Digital Angel Corporation’s customers. |
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Item 7. |
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Exhibits and Reports on Form 8-K. |
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(a) |
No financial statements are required to be filed as part of this Current Report on Form 8-K. |
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(b) |
The registrant intends to file the required pro forma financial information as an amendment to this Form 8-K Report as soon as practicable and within the period provided for under Item 7 (a) (4) of Form 8-K. |
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(c) |
Exhibits: |
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2.1 |
Form of Asset Purchase Agreement dated April 8, 2004 by and between Digital Angel Corporation and MedAire, Inc. |
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SIGNATURES
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.
Date: April 23, 2004
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/s/ James P. Santelli |
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Digital Angel Corporation |
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James P. Santelli |
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Vice-President of Finance and Chief Financial Officer |
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