U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 of 15(d) of the
Securities Exchange Act of 1934
January 10, 1997
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Date of Report (date of earliest event reported)
CONTOUR MEDICAL, INC.
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Exact name of Registrant as Specified in its Charter
Nevada 0-26288 77-0163521
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State or Other Jurisdiction Commission File IRS Employer Identification
of Incorporation Number Number
3340 Scherer Drive, St. Petersburg, Florida 33716
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Address of Principal Executive Offices, Including Zip Code
(813) 572-0089
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Registrant's Telephone Number, Including Area Code
ITEM 5. OTHER EVENTS
On January 10, 1997, Contour Medical, Inc. (the "Company") repaid
promissory notes of approximately $10,850,000 plus accrued interest which were
due on that date, held by the former shareholders of Atlantic Medical Supply
Inc., and a related company, which the Company acquired in August 1996. The
source of funds for the repayment was a $9,750,000 loan from Retirement Care
Associates, Inc. ("RCA"), the Company's majority shareholder, and borrowings
under the Company's bank line of credit.
The loan from RCA was made pursuant to a Convertible Promissory Note
issued to RCA on January 10, 1997, which bears interest at 9% per annum, is
unsecured, and is due on demand. The Convertible Promissory Note is
convertible into shares of the Company's $.001 par value per share common
stock (the "Common Stock") at a conversion price of $5.00 per share, at the
election of the holder. RCA exercised its conversion rights under the
Convertible Promissory Note as of January 10, 1997, and, accordingly, a total
of 1,950,000 shares of Common Stock have been issued to RCA. As a result, RCA
now beneficially owns approximately 66.3% of the Company's Common Stock.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.
(c) EXHIBITS.
10.1 Convertible Promissory Note issued to Retirement Care
Associates, Inc.
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.
CONTOUR MEDICAL, INC.
Dated: January 22, 1997 By /s/ Donald F. Fox
Donald F. Fox, President