UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D. C. 20549-1004
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): July 29, 2008
_______UNICO, INCORPORATED_______
(Exact name of registrant as specified in its charter)
______Arizona ____ ______000-30239_____ ________13-4171971________
(State of Incorporation) (Commission file number) (I.R.S. Employer Identification No.)
8880 Rio San Diego Drive, 8th Floor, San Diego, California 92108
(Address of principal executive offices, zip code)
_______________(619) 209-6124______________
(Registrant's telephone number, including area code)
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)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)
Section 8.
Other Events
Item 8.01
Other Events
Partial Conversion of Convertible Debenture
Effective July 29, 2008, Tuxedo Holdings, a Turks and Caicos company, converted $5,526 principal and $24,474 accrued interest, of a Convertible Debenture with an initial principal balance of $200,000. The conversion price was $0.06 per share, which was 50% of the closing bid price of Unico, Incorporated (“Unico”) common stock on July 29, 2008. Tuxedo Holdings received 500,000 shares of the Unico common stock in the conversion.
The Convertible Debenture was purchased by Tuxedo Holdings from Moore Investment Holdings, LLC at its face value. It bears interest at the rate of eight percent (8.0%) per annum, and is convertible to shares of Unico’s common stock at fifty percent (50.0%) of the bid price of Unico’s common stock on the date of conversion.
Moore Investment Holdings, LLC is a Nevada limited liability company controlled by Joseph A. Lopez, and his wife, Patricia A. Lopez. Joseph A. Lopez is the father of Mark A. Lopez, Chief Executive Officer of Unico.
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.
UNICO INCORPORATED
Date: September 12, 2008
/s/ Mark A. Lopez
Mark A. Lopez, Chief Executive Officer
