UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED): October 1, 2007
GEOPHARMA, INC.
(Exact name of registrant as specified in its charter)
Florida | 001-16185 | 59-2600232 | ||
(State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) |
6950 Bryan Dairy Road, Largo, 33777
(Address of principal executive offices and Zip Code)
Registrant's telephone number, including area code: (727) 544 - 8866
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 1.01 | Entry into a Material Definitive Agreement. |
Item 2.03 | Creation of a Direct Financial Obligation. |
On October 1, 2007, GeoPharma, Inc. (the “Company” or “Lender”) provided a loan to Dynamic Health Products Inc. (“Borrower”) in the amount of $3,509,337. In connection with the loan, Borrower issued the Company a promissory note (the “Note”) in the amount of $3,509,337. The Note bears interest at the rate of 7.35% per annum and is due on or before April 6, 2008 (the “Maturity Date”). Borrower may repay all or any amount due to Lender without penalty at any time before the Maturity Date. In addition, Borrower will pay regular monthly payments of all accrued unpaid interest due as of each payment date, beginning November 6, 2007, with all subsequent interest payments to be due on the same day of each month thereafter. The annual interest rate for the Note is computed on a 365/360 days basis; that is by applying the ratio of the annual interest rate over a year of 360 days.
Item 9.01 | Financial Statements and Exhibits. |
(a) FINANCIAL STATEMENTS OF BUSINESS ACQUIRED.
Not applicable.
(b) PRO FORMA FINANCIAL INFORMATION.
Not applicable.
(c) EXHIBITS.
Exhibit Number | Description | |
10.1 | Promissory Note, dated October 1, 2007 |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
GeoPharma, Inc. | ||||
/s/ Mihir K. Taneja | ||||
Date: October 4, 2007 | Mihir K. Taneja | |||
Chief Executive Officer | ||||
/s/ Carol Dore-Falcone | ||||
Carol Dore-Falcone | ||||
Vice President and Chief Financial Officer |
EXHIBIT INDEX
10.1 | Promissory Note, dated October 1, 2007 |