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): December 28, 2007
SOUTHLAND HEALTH SERVICES, INC.
(Exact Name of Registrant as Specified in its Charter)
| Florida | 000-52359 | 20-0340136 | ||
| (State of Incorporation) | (Commission File Number) | (IRS Employer Identification Number) |
2344 Woodridge Avenue, Kingsport, Tennessee 37664
(Address of Principal Executive Offices) (Zip Code)
(423) 247-9560
(Registrant’s Telephone Number, Including Area Code)
(Former name or former address, if changed since last report)
Check the appropriate box below of the Form 8-K if the 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 1.02 Termination of a Material Definitive Agreement
As was previously disclosed, on November 19, 2007, Southland Health Services, Inc. (“Southland”), executed a warrant in favor of First American Swift, LLC (“First American Swift”) to purchase from Southland up to 1,000,000 shares of Southland common stock, par value $0.01 per share (the “Common Stock”) at the price of $2.00 per share. On the same date, Southland also executed a warrant in favor of First American Swift to purchase from Southland up to 3,000,000 shares of Common Stock at the price of $1.00 per share.
Part of the consideration for the issuance of the warrants was an agreement by First American Swift to provide Southland with debt financing. Since the debt financing did not close in the timeframe originally contemplated by the parties, on December 24, 2007, Southland cancelled the warrants by providing written notice to First American Swift.
SIGNATURE
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.
| SOUTHLAND HEALTH SERVICES, INC. | ||
| By: | /s/ Larry N. Lunan | |
| Name: | Larry N. Lunan | |
| Title: | Chief Executive Officer | |
| Dated: December 28, 2007 | ||