UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
_____________________________
FORM 11-K
ANNUAL REPORT
PURSUANT TO SECTION 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
(Mark One):
[X] ANNUAL REPORT PURSUANT TO SECTION 15(d) of the SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended December 31, 2009
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 15(d) of the SECURITIES EXCHANGE ACT OF 1934
For the transition period from _____to_____
Commission File Number: 000-30406
A. Full title of the plan and the address of the plan, if different from that of the issuer named below:
HEALTHTRONICS, INC. AND SUBSIDIARIES 401 (k) PLAN
B. Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:
HEALTHTRONICS, INC.
9825 Spectrum Drive, Building 3
AUSTIN, TEXAS 78717
EXPLANATORY NOTE |
On September 24, 2009, HealthTronics, Inc. and Subsidiaries (the “Company”) filed the annual report for the HealthTronics, Inc. and Subsidiaries 401(k) Plan (the “Plan”) for the fiscal year ended December 31, 2008. The Company hereby amends the Plan’s Annual Report on Form 11-k to restate the financial statements, as discussed in Note C to the financial statements. |
TABLE OF CONTENTS |
Report of Independent Registered Public Accounting Firm Statements of Net Assets Available for Benefits, December 31, 2009 and 2008 Statements of Changes in Net Assets Available for Benefits, Years Ended December 31, 2009 and 2008 Notes to Financial Statements Supplemental Schedule- Assets Held for Investment Purposes at End of Year, December 31, 2009 Supplemental Schedule- Delinquent Participant Contributions Signatures | Page 1 2 3 4 17 18 19 |
Report of Independent Registered Public Accounting Firm |
To the Board of Directors |
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HEALTHTRONICS, INC & SUBSIDIARIES 401(k) PLAN |
December 31, | ||||||||
---|---|---|---|---|---|---|---|---|
2009 | 2008 (Restated) | |||||||
ASSETS | ||||||||
Cash | $ | 7,065 | $ | 8,624 | ||||
Investments | ||||||||
Collective trust funds, at fair value | 18,501,993 | 11,912,983 | ||||||
HealthTronics, Inc., at fair value | 371,377 | 352,388 | ||||||
Loans to participants | 320,877 | 219,503 | ||||||
Money market | 40,293 | 97,556 | ||||||
Total investments | 19,234,540 | 12,582,430 | ||||||
Receivables | ||||||||
Employer contributions | 55,841 | 89,986 | ||||||
Participants contributions | 72,369 | 3,186 | ||||||
Total receivables | 128,210 | 93,172 | ||||||
TOTAL ASSETS | 19,369,815 | 12,684,226 | ||||||
LIABILITIES | ||||||||
Benefits payable | 40,293 | 80,589 | ||||||
Operating expense payable | -- | 16,967 | ||||||
Total liabilities | 40,293 | 97,556 | ||||||
Net assets available for benefits at fair value | 19,329,522 | 12,586,670 | ||||||
Adjustment from fair value to contract value for interest in | ||||||||
collective trust funds relating to fully benefit-responsive | ||||||||
investment contracts | 614,046 | 601,025 | ||||||
NET ASSETS AVAILABLE FOR BENEFITS | $ | 19,943,568 | $ | 13,187,695 |
See accompanying notes and independent auditors' report. |
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HEALTHTRONICS, INC & SUBSIDIARIES 401(k) PLAN |
Years Ended December 31, | ||||||||
---|---|---|---|---|---|---|---|---|
2009 | 2008 (Restated) | |||||||
ADDITIONS: | ||||||||
Additions to net assets attributable to: | ||||||||
Investment income (loss) | ||||||||
Net appreciation (depreciation) in | ||||||||
fair value of investments | $ | 2,353,713 | $ | (4,198,791 | ) | |||
Interest and dividends | 27,832 | 34,419 | ||||||
Total investment income (loss) | 2,381,545 | (4,164,372 | ) | |||||
Contributions | ||||||||
Cash: | ||||||||
Employer | 614,385 | 566,375 | ||||||
Participants | 1,863,509 | 1,616,846 | ||||||
Rollover | 96,684 | 13,901 | ||||||
Total contributions | 2,574,578 | 2,197,122 | ||||||
TOTAL ADDITIONS, NET | 4,956,123 | (1,967,250 | ) | |||||
DEDUCTIONS: | ||||||||
Deductions from net assets attributable to: | ||||||||
Benefits paid to participants | 1,622,496 | 1,487,498 | ||||||
Administrative expenses | 166,021 | 175,641 | ||||||
Total deductions | 1,788,517 | 1,663,139 | ||||||
Net change in net assets | 3,167,606 | (3,630,389 | ) | |||||
Transfer into Plan as a Result of Merger | 3,588,267 | 481,390 | ||||||
Net Assets Available for Benefits: | ||||||||
BEGINNING OF YEAR | 13,187,695 | 16,336,694 | ||||||
END OF YEAR | $ | 19,943,568 | $ | 13,187,695 |
See accompanying notes and independent auditors' report. |
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HEALTHTRONICS, INC. & SUBSIDIARIES 401 (K) PLAN |
NOTE A—DESCRIPTION OF PLAN
The following description of the HealthTronics, Inc. & Subsidiaries (“Company”) 401(k) Plan (“the Plan”) provides only general information. Participants should refer to the Plan agreement for a more complete description of the Plan’s provisions. |
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HEALTHTRONICS, INC. & SUBSIDIARIES 401 (K) PLAN |
NOTE A—DESCRIPTION OF PLAN (Continued)
Vesting |
Number of Completed Years of Service | Vesting Percentage | |
---|---|---|
Less than 1 year 1 years, less than 2 years 2 years, less than 3 years 3 years, less than 4 years 4 years | 0% 25% 50% 75% 100% |
Payment of Benefits |
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HEALTHTRONICS, INC. & SUBSIDIARIES 401 (K) PLAN |
NOTE A—DESCRIPTION OF PLAN (Continued)
Forfeited Accounts |
• • • • | Medical expenses, Purchase of a principal residence, Post secondary education for participant or their dependents, To prevent eviction from or foreclosure on the participant’s principal residence. |
Plan Expenses |
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HEALTHTRONICS, INC. & SUBSIDIARIES 401 (K) PLAN |
NOTE B—SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of Accounting and Use of Estimates |
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HEALTHTRONICS, INC. & SUBSIDIARIES 401 (K) PLAN |
NOTE B—SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
Contributions |
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HEALTHTRONICS, INC. & SUBSIDIARIES 401 (K) PLAN |
NOTE B—SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)
Recent Accounting Pronouncements (continued) |
NOTE C–RESTATEMENT OF FINANCIAL STATEMENTS
The previously issued financial statements have been restated due to an error in the calculation of the adjustment from fair value to contract value for the fully benefit-responsive investment contract fund. These adjustments are summarized as follows: |
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HEALTHTRONICS, INC. & SUBSIDIARIES 401 (K) PLAN |
NOTE C–RESTATEMENT OF FINANCIAL STATEMENTS (Continued)
STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS | |||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Year Ended December 31, 2008 | |||||||||||
As Reported | Adj. | As Restated | |||||||||
ASSETS | |||||||||||
Cash | $ | 8,624 | $ | -- | $ | 8,624 | |||||
Investments | |||||||||||
Collective trust funds, at fair value | 12,514,008 | (601,025 | ) | 11,912,983 | |||||||
HealthTronics, Inc., at fair value | 352,388 | -- | 352,388 | ||||||||
Loans to participants | 219,503 | -- | 219,503 | ||||||||
Money market | 97,556 | -- | 97,556 | ||||||||
Total investments | 13,183,455 | (601,025 | ) | 12,582,430 | |||||||
Receivables | |||||||||||
Employer contributions | 89,986 | -- | 89,986 | ||||||||
Participants contributions | 3,186 | -- | 3,186 | ||||||||
Total receivables | 93,172 | -- | 93,172 | ||||||||
TOTAL ASSETS | 13,285,251 | (601,025 | ) | 12,684,226 | |||||||
LIABILITIES | |||||||||||
Benefits payable | 80,589 | -- | 80,589 | ||||||||
Operating expense payable | 16,967 | -- | 16,967 | ||||||||
Total liabilities | 97,556 | -- | 97,556 | ||||||||
Net assets available for benefits at fair value | 13,187,695 | (601,025 | ) | 12,586,670 | |||||||
Adjustment from fair value to contract value for interest in | |||||||||||
collective trust funds relating to fully benefit-responsive | |||||||||||
investment contracts | (601,025 | ) | 1,202,050 | 601,025 | |||||||
NET ASSETS AVAILABLE FOR BENEFITS | $ | 12,586,670 | $ | 601,025 | $ | 13,187,695 |
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS | |||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Years Ended December 31, | |||||||||||
As Reported | Adj. | As Restated | |||||||||
ADDITIONS: | |||||||||||
Additions to net assets attributable to: | |||||||||||
Investment income (loss) | |||||||||||
Net appreciation (depreciation) in | |||||||||||
fair value of investments | $ | (4,799,816 | ) | $ | 601,025 | $ | (4,198,791 | ) | |||
Interest and dividends | 34,419 | -- | 34,419 | ||||||||
Total investment income (loss) | (4,765,397 | ) | 601,025 | (4,164,372 | ) | ||||||
Contributions | |||||||||||
Cash: | |||||||||||
Employer | 566,375 | -- | 566,375 | ||||||||
Participants | 1,616,846 | -- | 1,616,846 | ||||||||
Rollover | 13,901 | -- | 13,901 | ||||||||
Total contributions | 2,197,122 | -- | 2,197,122 | ||||||||
TOTAL ADDITIONS, NET | (2,568,275 | ) | 601,025 | (1,967,250 | ) | ||||||
DEDUCTIONS: | |||||||||||
Deductions from net assets attributable to: | |||||||||||
Benefits paid to participants | 1,487,498 | -- | 1,487,498 | ||||||||
Administrative expenses | 175,641 | -- | 175,641 | ||||||||
Total deductions | 1,663,139 | -- | 1,663,139 | ||||||||
Net change in net assets | (4,231,414 | ) | 601,025 | (3,630,389 | ) | ||||||
Transfer into Plan as a Result of Merger | 481,390 | -- | 481,390 | ||||||||
Net Assets Available for Benefits: | |||||||||||
BEGINNING OF YEAR | 16,336,694 | -- | 16,336,694 | ||||||||
END OF YEAR | $ | 12,586,670 | $ | 601,025 | $ | 13,187,695 |
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HEALTHTRONICS, INC. & SUBSIDIARIES 401 (K) PLAN |
NOTE D—NONPARTICIPANT-DIRECTED INVESTMENTS
At December 31, 2009 and 2008, the Plan had a receivable from the Company in the amount of $55,841 and $89,986, respectively. In 2006, the Company’s matching contributions were made in Company common stock (which is publicly traded under the symbol HTRN on the NASDAQ market). In 2007, the Company changed the matching contribution from matching in Company common stock to a cash matching program. The matching contributions are made semi-monthly. The receivables at December 31, 2009 and 2008 were paid on January 6, 2010 and January 6, 2009, respectively. |
NOTE E—INVESTMENTS
The following presents investments that are 5% or more of the Plan’s net assets at December 31, 2009 and 2008: |
December 31, | |||||||||
---|---|---|---|---|---|---|---|---|---|
2009 | 2008 (Restated) | ||||||||
Collective Trust Funds, at Fair Value | |||||||||
S&P 500 Index Portfolio | $ | 1,204,520 | $ | 791,456 | |||||
GIC Portfolio | $ | 4,465,787 | * | $ | 3,398,461 | * | |||
Balanced Portfolio | $ | 1,226,173 | $ | 747,380 | |||||
International Growth Portfolio | $ | 1,482,946 | $ | 963,526 | |||||
Large Company Value Portfolio | $ | 1,753,769 | $ | 1,389,498 | |||||
Intermediate Fixed Income Portfolio | $ | 3,146,396 | $ | 1,744,658 | |||||
Large Company Domestic Growth Portfolio | $ | 2,556,837 | $ | 1,228,154 | |||||
* This amount represents contract value for this investment. |
For the years ended 2009 and 2008 (restated), the Plan’s investments (including gains and losses on investments bought and sold, as well as held during the year) appreciated (depreciated) in value by $2,353,713 and ($4,198,791) and respectively, as follows: |
2009 | 2008 (Restated) | |||||||
---|---|---|---|---|---|---|---|---|
Investment Type | ||||||||
Collective trust and mutual funds | $ | 2,302,565 | $ | (3,813,796 | ) | |||
HTRN common stock | 51,148 | (384,995 | ) | |||||
Net | $ | 2,353,713 | $ | (4,198,791 | ) |
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HEALTHTRONICS, INC. & SUBSIDIARIES 401 (K) PLAN |
NOTE F—INVESTMENT CONTRACT WITH INSURANCE COMPANY OR STABLE VALUE FUND OR GUARANTEED INVESTMENT ACCOUNTThe Plan offers as an investment option a benefit-responsive investment contract with Wilmington Trust Fiduciary Services Company (“WTFSC”). WTFSC maintains the contributions in a general account. The account is credited with earnings on the underlying investments and charged for participant withdrawals and administrative expenses. The guaranteed investment contract issuer is contractually obligated to repay the principal and a specified interest rate that is guaranteed to the Plan.As described in note B, because the guaranteed investment contract is fully benefit-responsive, contract value is the relevant measurement attribute for that portion of the net assets available for benefits attributable to the guaranteed investment contract. Contract value, as reported to the Plan by WTFSC, represents contributions made under the contract, plus earnings, less participant withdrawals and administrative expenses. Participants may ordinarily direct the withdrawal or transfer of all or a portion of their investment at contract value. There are no reserves against contract value for credit risk of the contract issuer or otherwise. The crediting interest rate is based on a formula agreed upon with the issuer, but it may not be less than 4%. Such interest rates are reviewed on a quarterly basis for resetting. Certain events limit the ability of the Plan to transact at contract value with the issuer. Such events include the following: (1) amendments to the Plan documents (including complete or partial Plan termination or merger with another plan); (2) changes to the Plan’s prohibition on competing investment options or deletion of equity wash provisions; (3) bankruptcy of the Plan sponsor or other Plan sponsor events (for example, divestitures or spin-offs of a subsidiary) that cause a significant withdrawal from the Plan; or (4) the failure of the trust to qualify for exemption from federal income taxes or any required prohibited transaction exemption under ERISA. The Plan administrator does not believe the occurrence of any such value event, which would limit the Plan’s ability to transact at contract value with participants, is probable. The guaranteed investment contract does not permit the insurance company to terminate the agreement prior to the scheduled maturity date. NOTE G—FAIR VALUE MEASUREMENTSEffective January 1, 2009, the Plan adopted ASC 820, Fair Value Measurements and Disclosures (“ASC 820”) (formerly SFAS No. 157, Fair Value Measurements), for financial assets and financial liabilities. ASC 820 defines fair value, establishes a framework for measuring fair value in accounting principles generally accepted in the United States of America, and expands disclosures about fair value measurements. ASC 820 applies to all financial instruments that are being measured and reported on a fair value basis. ASC 820 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. ASC 820 also establishes a fair value hierarchy that prioritizes the inputs used in valuation methodologies into the following three levels: |
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HEALTHTRONICS, INC. & SUBSIDIARIES 401 (K) PLAN |
NOTE G—FAIR VALUE MEASUREMENTS (Continued)
• • • | Level 1 Inputs – Unadjusted quoted prices in active markets for identical assets or liabilities. Level 2 Inputs – Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities, or other inputs that can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 Inputs – Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Level 3 assets and liabilities include financial instruments whose value is determined using pricing models, discounted cash flow methodologies, or other valuation techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation. |
A description of the valuation methodologies used for instruments measured at fair value, as well as the general classification of such instruments pursuant to the valuation hierarchy, is set forth below. |
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HEALTHTRONICS, INC. & SUBSIDIARIES 401 (K) PLAN |
NOTE G—FAIR VALUE MEASUREMENTS (Continued)
The Plan’s investments measured at fair value by the three levels described above are as follows: |
December 31, 2009 | Level 1 | Level 2 | Level 3 | ||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Assets: | |||||||||||||||||
Common stock | $ | 371,377 | $ | 371,377 | $ | -- | $ | -- | |||||||||
Common collective trust funds | $ | 18,501,993 | $ | -- | $ | 18,501,993 | $ | -- | |||||||||
Participant loans | $ | 320,877 | $ | -- | $ | -- | $ | 320,877 | |||||||||
Money market | $ | 40,293 | $ | -- | $ | 40,293 | $ | -- |
December 31, 2008 (Restated) | Level 1 | Level 2 | Level 3 | ||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Assets: | |||||||||||||||||
Common stock | $ | 352,388 | $ | 352,388 | $ | -- | $ | -- | |||||||||
Common collective trust funds | $ | 11,912,983 | $ | -- | $ | 11,912,983 | $ | -- | |||||||||
Participant loans | $ | 219,503 | $ | -- | $ | -- | $ | 219,503 | |||||||||
Money market | $ | 97,556 | $ | -- | $ | 97,556 | $ | -- |
The following is a summary of the activity of investments classified as Level 3: |
Participant Loans | |||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Years Ended December 31, | |||||||||||
2009 | 2008 | ||||||||||
Balance at beginning of year | $ | 219,503 | $ | 200,776 | |||||||
Principal repayments | (102,454 | ) | (96,047 | ) | |||||||
Loan withdrawals | 232,084 | 118,540 | |||||||||
Deemed distributions | (28,256 | ) | (3,766 | ) | |||||||
Balance at end of year | $ | 320,877 | $ | 219,503 | |||||||
NOTE H—RELATED PARTY TRANSACTIONS
The Plan invests in shares of collective trust funds managed by WTFSC, formerly known as UBS Fiduciary Trust Company, (“UBSFTC”). WTFSC acts as Trustee for only those investments defined by the Plan. Transactions in such investments qualify as party-in-interest transactions, and are exempt from the prohibited transaction rules. |
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HEALTHTRONICS, INC. & SUBSIDIARIES 401 (K) PLAN |
NOTE I—RECONCILIATION OF FINANCIAL STATEMENTS TO SCHEDULE H OF FORM 5500
Amounts reported in Form 5500 and in these financial statements are presented on the accrual basis. All amounts in the financial statements materially agree to the Form 5500. |
NOTE J—PLAN TERMINATION
Although it has not expressed any intent to do so, the Company has the right under the Plan to discontinue its contributions at any time and to terminate the Plan subject to the provisions of ERISA. In the event of Plan termination, participants become 100% vested in their accounts. |
NOTE K—TAX STATUS
The Plan obtained its latest determination letter, in which the Internal Revenue Service stated that the Plan, as then designed, was in compliance with the applicable requirements of the Internal Revenue Code. The Plan has been amended since receiving the determination letter. However, the Plan administrator and the Plan’s third party administrator believe that the Plan is currently designed and being operated in compliance with the applicable requirements of the Internal Revenue Code. Therefore, no provision for income taxes has been included in the Plan’s financial statements. |
NOTE L—RISKS AND UNCERTAINTIES
The Plan invests in various investment securities. Investment securities are exposed to various risks, such as interest rate, market, and credit risks. Due to the level of risk associated with certain investment securities, it is at least reasonably possible that changes in the values of investment securities will occur in the near term and that such changes could materially affect participants’ account balances and the amounts reported in the statements of net assets available for benefits. |
NOTE M—FIDELITY BOND
The Plan was covered by a $2,000,000 fidelity bond during 2009 and 2008. NOTE N—PLAN MERGERSIn 2009, the Plan merged in one of the Company’s subsidiaries plans. As a result, all investments and participant loans were transferred from this plan into the Plan. |
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HEALTHTRONICS, INC. & SUBSIDIARIES 401 (K) PLAN |
NOTE O-PROHIBITED TRANSACTIONS
During 2009, the Company failed to remit participant contributions in a timely manner. The Company identified four instances for a total of $338,792 where participant contributions were remitted to the Plan in violation of Department of Labor (“DOL”) regulations. The Company intends to enter into the DOL Voluntary Correction Program. The Company estimated the lost earnings as a result of the late payments to the Plan are immaterial. |
-16- |
HEALTHTRONICS, INC. & SUBSIDIARIES 401(K) PLAN |
(a) | (b) Identity of issuer, borrower, lessor, or similar party | (c) Description of investment including maturity date, rate of interest, collateral, par, or maturity value | (d) Cost | (e) Current Value |
Collective Trust Funds | |||||||||||||||||
Wilmington Trust Portfolio | |||||||||||||||||
* | Balanced Portfolio | Common or Collective Trust; | 24,853.020 Units | $ | 1,128,739 | $ | 1,226,173 | ||||||||||
* | Fixed Income Index Portfolio | Common or Collective Trust; | 23,275.732 Units | $ | 392,852 | $ | 433,906 | ||||||||||
* | GIC Portfolio | Common or Collective Trust; | 129,465.877 Units | $ | 4,095,231 | $ | 4,465,787 | ||||||||||
* | Intermediate Fixed Income Portfolio | Common or Collective Trust; | 81,441.110 Units | $ | 2,935,638 | $ | 3,146,396 | ||||||||||
* | International Growth Portfolio | Common or Collective Trust; | 84,967.984 Units | $ | 1,331,415 | $ | 1,482,946 | ||||||||||
* | International Value Portfolio | Common or Collective Trust; | 15,142.644 Units | $ | 301,939 | $ | 319,298 | ||||||||||
* | Large Company Domestic Growth Portfolio | Common or Collective Trust; | 499,382.176 Units | $ | 2,494,260 | $ | 2,556,837 | ||||||||||
* | Large Company Value Portfolio | Common or Collective Trust; | 25,099.743 Units | $ | 1,618,854 | $ | 1,753,769 | ||||||||||
* | Mid-Cap Fundamental Value Portfolio | Common or Collective Trust; | 60,159.211 Units | $ | 615,494 | $ | 624,874 | ||||||||||
* | Mid-Cap Growth Portfolio | Common or Collective Trust; | 60,254.806 Units | $ | 572,261 | $ | 665,575 | ||||||||||
* | S&P 500 Index Portfolio | Common or Collective Trust; | 78,649.723 Units | $ | 1,118,769 | $ | 1,204,520 | ||||||||||
* | Small Company Growth Portfolio | Common or Collective Trust; | 6,232.809 Units | $ | 487,965 | $ | 575,650 | ||||||||||
* | Small Company Value Portfolio | Common or Collective Trust; | 19,554.858 Units | $ | 550,596 | $ | 660,308 | ||||||||||
* | Money Market | Money Market Portfolio | 40,293 | 40,293 | |||||||||||||
Employer Stock | |||||||||||||||||
* | HealthTronics, Inc. common stock | Employer Securities | 140,673.232 shares | 471,528 | 371,377 | ||||||||||||
(NASDAQ-HTRN) | |||||||||||||||||
* | Participant Loans | Interest rates ranging from | 320,877 | ||||||||||||||
3.25% to 10.50% maturing | |||||||||||||||||
through 10/31/2037 | |||||||||||||||||
$ | 18,155,834 | $ | 19,848,586 | ||||||||||||||
(a) | Party in interest, if any identify by *. |
-17- |
HEALTHTRONICS, INC. & SUBSIDIARIES 401 (K) PLAN |
Total that Constitute Nonexempt Prohibited Transactions | |||||
---|---|---|---|---|---|
Plan Year | Participant Contribution Transferred Late to Plan | Contributions Not Corrected | Contribution Corrected Outside of VFCP | Contributions Pending Correction in VFCP | Total Fully Corrected Under VFCP and PTE 2002-51 |
2009 | $338,792 | $ - | $338,792 | $ - | $338,792 |
2008 | $232,103 | $ - | $232,103 | $ - | $232,103 |
-18- |
SIGNATURES |
Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees (or other persons who administer the Plan) have duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized. |
HEALTHTRONICS, INC. AND SUBSIDIARIES 401 (K) PLAN
By: Plan Administrator of the HealthTronics, Inc. and Subsidiaries 401(K) Plan
Date: June 28, 2010 | By: /s/ Richard Rusk Richard Rusk Plan Administrator |