GelTech Solutions, Inc. (OTCMKTS:GLTC) Files An 8-K

GelTech Solutions, Inc. (OTCMKTS:GLTC) issued Mr. Michael Reger, the Company’s President and principal shareholder, a $100,000 and a $50,000 7.5% secured convertible note in consideration for two loans of $100,000 and $50,000. The notes are convertible at $0.28 per share and mature on December 31, 2020. Repayment of the notes are secured by all of the Company’s assets including its intellectual property and inventory in accordance with a secured line of credit agreement between the Company and Mr. Reger. Additionally, the Company issued Mr. Reger a total of 267,857 two-year warrants exercisable at $2.00 per share.

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All of the securities were issued without registration under the Securities Act of 1933 in reliance upon the exemption provided in Section 4(a)(2) and Rule 506(b) thereunder.

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