MEDIFIRST SOLUTIONS, INC (OTCMKTS:MFST) Files An 8-K Entry into a Material Definitive AgreementItem 1.01
On August 31, 2017, Medifirst Solutions, Inc. (the “Company”), through its wholly-owned subsidiary Medical Lasers Manufacturer, Inc., entered into a Master Exclusive Distribution Agreement (the “Distribution Agreement”) with Inter Equipment Medical Services Maroc (“IEMSM”), a distribution company based in Morocco. to the Distribution Agreement, the Company granted IEMSM a three-years’ exclusive right to distribute the Company’s Infrared Time Machine Laser (collectively with all accessories and carrying case sold therewith, the “Product”), in Morocco. The exclusivity of the distribution rights under the Distribution Agreement may be revoked and the Company may terminate the Distribution Agreement, at the sole discretion of the Company, in the event that IEMSM fails to purchase an aggregate of $100,000 in Product during the first year, an aggregate of $125,000 in Product during the second year, and $150,000 in Product during the third year. The Company has begun the product registration process with authorities in Morocco and IEMSM’s distribution efforts will commence after the registration process is complete. No assurances can be made that the Company will be granted clearance to sell or, if clearance is achieved, that IEMSM will be successful in its sales efforts.
The foregoing description of the terms of the Distribution Agreement does not purport to be complete and is subject to, and qualified in its entirety by reference to the Distribution Agreement, which is filed herewith as Exhibit 99.1 and incorporated herein by reference.
| Item 7.01 | Regulation FD Disclosure |
On August 31, 2017, the Company issued a press release announcing the Distribution Agreement.
A copy of the press release is attached herewith as Exhibit 99.2.
The information in this Item 7.01 disclosure, including Exhibit 99.2, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities under that Section. In addition, the information in this Item 7.01 disclosure, including Exhibits 99.2, shall not be incorporated by reference into the filings of the Company under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
Medifirst Solutions, Inc. ExhibitEX-99.1 2 f8k083117ex99-1_medifirst.htm MOROCCO DISTRIBUTION AGREEMENT DATED AUGUST 31,…To view the full exhibit click here
About MEDIFIRST SOLUTIONS, INC (OTCMKTS:MFST)
Medifirst Solutions, Inc. is a development-stage company. The Company is engaged in developing medical devices. The Company, under a manufacturing agreement, produces its hand-held mobile laser system known as The Time Machine Program. Through its subsidiary Medical Laser Manufacturer, Inc., the Company has entered into a Product and Know-How License Agreement (the License Agreement) with Laser Lab Corp to license the use of various properties in connection with seeking regulatory approval for and marketing, distributing and selling The Time Machine Series Lasers (TTM Series). In addition to the license granted to the Company, the License Agreement provides for an option to license other fields of use of the infrared laser in the TTM Series, as well as other wavelengths and colors, allowing the Company to develop a range of product offerings. The Time Machine Infrared Laser 810/830-nanometer (nm) operates in continuous wave mode set at a fixed frequency. MEDIFIRST SOLUTIONS, INC (OTCMKTS:MFST) Recent Trading Information
MEDIFIRST SOLUTIONS, INC (OTCMKTS:MFST) closed its last trading session 00.00000 at 0.00180 with 5,421,590 shares trading hands.