Current Report Filing (8-k)
November 16 2017 - 5:28PM
Edgar (US Regulatory)
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): November
14, 2017
Creative Medical Technology Holdings,
Inc.
(Exact name of registrant as specified in
its charter)
Nevada
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000-53500
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87-0622284
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(State or other jurisdiction of
incorporation)
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(Commission File Number)
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(I.R.S. Employer
Identification No.)
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2017 W Peoria Avenue, Phoenix, AZ 85029
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(Address of principal executive offices)
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Registrant’s telephone number, including
area code:
(602) 680-7439
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(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2
of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
growth company
x
Emerging growth company If an emerging
growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with
any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
¨
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Item 1.01
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Entry into a Material Definitive Agreement.
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On November 14, 2017, StemSpine, LLC,
a Nevada limited liability company (“
StemSpine
”), a wholly owned subsidiary of Creative Medical
Technologies, Inc., the operating subsidiary of Creative Medical Technology Holdings, Inc., a Nevada corporation (the
“
Company
”), and Creative Medical Health, Inc., a Delaware corporation and parent of the Company
(“
CMH
”), entered into an amendment to the Patent Purchase Agreement dated May 17, 2017 (the
“
Amendment
”). The Amendment waives the nonpayment by StemSpine of the initial payment of $100,000 to CMH
which was due and payable 30 business days following the date of the agreement. The Amendment further amends the payment
terms of the initial payment to be made upon 30 days’ prior written demand of CMH and the payment of the progress
payments to be made upon 30 days’ prior written demand of CMH, following achievement of the designated milestones. The
initial payment, the progress payments, and the royalties are payable by StemSpine in cash or stock, at the option of CMH.
Stock payments are to be made at a discount of 30% to the market price of the Company’s common stock, based on lowest
closing price of the stock during the 20 trading days prior to the date of demand for payment. In the event the trading price
is less than $0.01 per share for two or more consecutive trading days, the number of any shares issuable doubles. CMH has the
right to terminate the agreement upon 10 days’ notice if StemSpine fails to make its required payments.
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Item 9.01.
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Financial Statements and Exhibits
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(d) Exhibits.
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.
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Creative Medical Technology Holdings, Inc.
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Date: November 14, 2017
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By:
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/s/ Timothy Warbington
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Timothy Warbington, Chief Executive Officer
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