UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM 8-K
CURRENT REPORT
Pursuant To Section 13 or 14(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) JULY 30, 2002
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PSYCHEMEDICS CORPORATION
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(Exact Name of Registrant As Specified In Its Charter)
DELAWARE
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(State if Other Jurisdiction of Incorporation)
1-13738 58-1701987
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(Commission File Number) (I.R.S. Employer Identification No.)
1280 Massachusetts Ave., Suite 200, Cambridge, MA 02138
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(Address of Principal Executive Offices) (Zip Code)
(617-868-7455)
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(Registrant's Telephone Number, Including Area Code)
N/A
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(Former name or former address, if changed since last report)
ITEM 5. OTHER EVENTS.
On July 30, 2002, the stockholders of Psychemedics Corporation, a
Delaware corporation (the "Company") approved a one-for-four reverse split of
the issued and outstanding common stock of the Company (the "Reverse Split").
The Reverse Split became effective at 12:01 a.m. EDT on Thursday, August 1, 2002
(the "Effective Time"). Pursuant to the Reverse Split, every 4 shares of the
Company's issued and outstanding common stock at the Effective Time were
converted into 1 share of common stock. Fractional shares of stock will not be
issued as a result of the Reverse Split. Stockholders who would otherwise
receive a fractional share of common stock will be entitled to receive an
equivalent amount of cash in lieu of fractional shares, based on the closing
price of the common stock on July 31, 2002. The Reverse Split reduced the number
of shares outstanding from approximately 20 million to approximately 5 million.
On July 30, 2002, the Company issued a press release announcing the
approval of the Reverse Split. The press release is attached hereto as Exhibit
99.1.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.
(a) Financial Statements of Business Acquired - Not Applicable
(b) Pro Forma Financial Information - Not applicable
(c) Exhibits
The following exhibits are filed herewith:
99.1 Press Release dated July 30, 2002.
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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.
PSYCHEMEDICS CORPORATION
Dated: August 1, 2002
By: /s/ Peter C. Monson
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Peter C. Monson, Chief Financial Officer
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