UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of the Securities and Exchange Act of 1934
Date of Report (Date of earliest event reported): October 9, 2006
IN VERITAS MEDICAL DIAGNOSTICS, INC.
(Exact name of registrant as specified in charter)
Colorado 000-49972 84-15719760
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(State or other jurisdiction (Commission File (IRS Employer
of incorporation) Number) Identification No.)
The Green House, Beechwood Business Park, North, Inverness, Scotland IV2 3BL
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area
code: 011-44-1463-667347
Copies to:
Richard A. Friedman, Esq.
Sichenzia Ross Friedman Ference LLP
1065 Avenue of the Americas, 21st Floor
New York, New York 10018
(212) 930-9700 (212)
930-9725 (fax)
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 Instructions 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 3.02 Unregistered Sales of Equity Securities
On October 10, 2006, the Board of Directors of In Veritas Medical Diagnostics,
Inc. ("In Veritas" or "the Company"), approved an aggregate of 15,515,000
options with an exercise price of $.065 pursuant to the Company's 2005 Stock
Incentive Plan. Of this amount, 9,850,000 options were granted to the following
directors of the Company:
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Name Options
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Martin Thorp 7,850,000 (1)
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John Fuller 2,000,000 (2)
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(1) 2,000,000 options vest on each of the following dates: October 10, 2006;
September 30, 2007; September 30, 2008. The remaining 1,850,000 options vest on
September 30, 2009. The options expire ten (10) years from the vesting date.
(2) One-fourth (500,000) of the options vest on each of the following dates:
November 30, 2006; September 30, 2007; September 30, 2008; September 30, 2009.
The options expire ten (10) years from the vesting date.
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.
IN VERITAS MEDICAL DIAGNOSTICS, INC.
Date: October 11, 2006 /s/ Graham Cooper
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Graham Cooper
President and Chief Executive Officer