HEALTH ADVANCE INC. (OTCMKTS:HADV) Files An 8-K Termination of a Material Definitive Agreement
Item 1.02 Termination of a Material Definitive Agreement
On June 14, 2017, Health Advance Inc. (the Company) sent written
notice to Micro Medtech, Ltd., a foreign limited liability
company held in Federated States of Micronesia, existing as a
foreign corporation in the State of Colorado, United States (MMT)
to terminate the license agreement dated February 28, 2017 and
entered into on March 5, 2017 (the License Agreement) to acquire
exclusive licensing rights in North America to cebidiofen and
polyoxyfen, two patent-pending, product formulations for
pharmaceutical foods made from ibuprofen and botanical extract
blends containing cannabidiol, mitragyna speciose, and kava. to
the terms of the License Agreement, the License Agreement may be
cancelled by providing ninety (90) days written notice to MMT.
Accordingly, the License Agreement shall terminate on September
Item 4.02 Non-Reliance of Previously Issued Financial
Statements or a Related Audit Report or Completed Interim
On June 14, 2017, a Quarterly Report on Form 10-Q for the period
ended January 31, 2017 (the June 14 10-Q) was filed on behalf of
the Company with the of Gregory Shusterman, an individual
claiming to be Chairman of the Board of Directors of the Company.
Mr. Shusterman is not an officer, director, or employee of the
Company, does not have access to the Companys internal financial
statements, and had no authority or authorization to file the
June 14 10-Q on behalf of the Company. Further, Mr. Shusterman
did not consult with or receive approval or authorization from
the Companys independent auditor to file the June 14 10-Q. That
same day, the Company was made aware of this improper filing and
is notifying shareholders and the public to not rely on the June
14 10-Q, which has incorrect information, financial statements
and exhibits. The Company is still compiling the financial
statements for the quarter ended January 31, 2017 and intends to
file a Quarterly Report on Form 10-Q for the period ended January
31, 2017 once the financial statements have been completed and
the Companys independent auditor has had a chance to review them.
Item 9.01 Financial Statement and Exhibits
Termination Letter from the Company to Micro Medtech, Ltd.
About HEALTH ADVANCE INC. (OTCMKTS:HADV)
Health Advance Inc. is a development-stage company. The Company is an online retailer of home medical products. The Company intends to carry a range of products for post-operative and healthcare, including Aids To Daily Living, Ambulatory Products, Bath Safety, Bed Accessories, Catheters, Core Wound Care, Diabetic, Diagnostic Equipment, Enteral Nutrition-Feeding, Home Diagnostics, Incontinence and Lift Chairs/Geri Chairs. The Company’s product range also includes Needles/Syringes, Orthopedics, Ostomy, Pain Management, Personal Protection/Gloves, Professional Use and Diagnostics, Respiratory, Scooters and Accessories, Seating/Cushions, Specialty Medical Equipment and Accessories, Tracheostomy Care, Urologicals/Collection Device, Specialty Wound Care, Wheelchairs Accessories and Women Infant Products. The Company operates under the corporate Website at www.healthadvanceinc.com and its online retailer Website at www.leadingmedicalproducts.com.