MEDITE CANCER DIAGNOSTICS, INC. (OTCMKTS:MDIT) Files An 8-K Entry into a Material Definitive AgreementItem 1.01 Entry into a Material Definitive Agreement
MEDITE CANCER DIAGNOSTICS, INC. (OTCMKTS:MDIT) Files An 8-K Entry into a Material Definitive Agreement
On March 31, 2017, MEDITE Cancer Diagnostics, Inc., a Delaware corporation (the “Company”) entered into a Settlement Agreement of Accrued Wages (the “Agreement”) with three (3) separate employees. Under the terms of the Agreement, the Company agreed to make total cash payments of $136,693, $97,840 and $95,612, respectively, to the employees in three (3) installments over a period of sixty (60) days from the date of the Agreement. In addition, the Company further agreed to issue 406,754, 328,396 and 294,584 warrants for the common stock of the Company, respectively, to the employees. The warrants are exercisable at $0.50 per share for a period of five (5) years. Commencing on April 7, 2017, each employee’s salary shall be increased to $90,000 per year. The effective date of the Agreement is retroactive to December 31, 2016.
Item 9.01 Financial Statements and Exhibits.
Exhibits
10.1. Settlement Agreement for Accrued Wages with Richard Domanik
10.2 Settlement Agreement for Accrued Wages with Daniel Kusswurm
10.3 Settlement Agreement for Accrued Wages with Michael Jolley
About MEDITE CANCER DIAGNOSTICS, INC. (OTCMKTS:MDIT)
MEDITE Cancer Diagnostics, Inc. (MEDITE), formerly CytoCore, Inc., is a medical technology company engaged in the development, engineering, manufacturing and marketing of molecular biomarkers and medical devices and consumables for detection, risk assessment and diagnosis of cancer, precancerous conditions and related diseases. The Company develops, manufactures and sells a range of laboratory devices and consumable supplies for its target market in the histology and cytology cancer diagnostics segment. The Company offers a range of histology laboratory devices for processing tissue, from receiving the tissue in the laboratory to the final diagnosis. The Company offers USE33, an ultrasonic decalcification instrument that runs the process under controlled temperatures. The Company also offers TPC15 Duo or Trio, TES99, TES Valida, M530, A550, M380, TST44 and COT20 linear staining systems. In addition, the Company also offers RCM9000, ACS720 and TWISTER glass and robotic coverslippers. MEDITE CANCER DIAGNOSTICS, INC. (OTCMKTS:MDIT) Recent Trading Information
MEDITE CANCER DIAGNOSTICS, INC. (OTCMKTS:MDIT) closed its last trading session 00.000 at 0.700 with shares trading hands.
MEDITE Cancer Diagnostics, Inc. (MEDITE), formerly CytoCore, Inc., is a medical technology company engaged in the development, engineering, manufacturing and marketing of molecular biomarkers and medical devices and consumables for detection, risk assessment and diagnosis of cancer, precancerous conditions and related diseases. The Company develops, manufactures and sells a range of laboratory devices and consumable supplies for its target market in the histology and cytology cancer diagnostics segment. The Company offers a range of histology laboratory devices for processing tissue, from receiving the tissue in the laboratory to the final diagnosis. The Company offers USE33, an ultrasonic decalcification instrument that runs the process under controlled temperatures. The Company also offers TPC15 Duo or Trio, TES99, TES Valida, M530, A550, M380, TST44 and COT20 linear staining systems. In addition, the Company also offers RCM9000, ACS720 and TWISTER glass and robotic coverslippers. MEDITE CANCER DIAGNOSTICS, INC. (OTCMKTS:MDIT) Recent Trading Information
MEDITE CANCER DIAGNOSTICS, INC. (OTCMKTS:MDIT) closed its last trading session 00.000 at 0.700 with shares trading hands.
