IMPLANT SCIENCES CORPORATION (NASDAQ:IMSC) Files An 8-K Termination of a Material Definitive AgreementItem 1.02 Termination of a Material Definitive Agreement.
On November 21, 2016, the Letter of Intent, dated July 18, 2016 (the “LOI”), between Implant Sciences Corporation (the “Company”) and Zapata Industries SAS (“Zapata”) was terminated. The terms of the LOI were previously disclosed by the Company in a current report on Form 8-K filed by the Company on July 22, 2016. The Company disputes any payment obligations it may have to Zapata in connection with the LOI or the termination thereof.
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