UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
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CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED): MARCH 13, 2000
DOCPLANET.COM, INC.
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
COLORADO ____________ 84-0645174
(STATE OR OTHER JURISDICTION OF (COMMISSION (I.R.S. EMPLOYER
INCORPORATION OR ORGANIZATION) FILE NUMBER) IDENTIFICATION NO.)
3000 W. WARNER AVENUE
SANTA ANA, CALIFORNIA 92704-5311
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (Zip Code)
Registrant's Telephone Number, including area code: (714) 754-5800
NOT APPLICABLE
(Former name, former address and former fiscal year if changed since lastreport)
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ITEM 5. OTHER EVENTS
Conversion of Debt
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In the past, DocPlanet.com, Inc. (the "Company") has borrowed money from
certain shareholders, directors and officers of the Company. The loans are
evidenced by promissory notes which bear interest at the bank prime rate plus
2%. Certain of the promissory notes were payable on demand, while certain of
the promissory notes were payable on April 1, 1998 and were past due on November
30, 1999. By letter dated October 29, 1999, Charles R. Drummond committed not
to demand payment of, or take action to collect on, the promissory notes,
including those past due, owed to him until August 31, 2000 or such time as the
Company has the ability to pay such notes.
By resolution dated December 21,1999, the Board of Directors of the Company
approved the conversion of loans from directors and officers of the Company, in
whole or in part, into common stock, no par value per share ("Common Stock"), of
the Company at $3.00 per share.
Pursuant to a Conversion Agreement dated March 13, 2000, to be effective as
of February 29, 2000, Charles R. Drummond exercised his right of conversion by
converting all of the $6,839,103 debt, which includes accrued interest through
February 29, 2000, owed to him by the Company into 2,279,701 shares of the
Company's Common Stock.
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ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(a) Financial statements of business acquired.
Not applicable.
(b) Pro forma financial information.
Not applicable
(c) Exhibits
99.1* Press Release dated March 13, 2000
99.2* Conversion Agreement dated March 13, 2000.
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*filed herewith
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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 thereunto duly authorized.
DOCPLANET.COM, INC.
By: /s/ Charles R. Drummond
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Charles R. Drummond
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Chairman, Chief Executive Officer and
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Treasurer
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Date: March 13, 2000
EXHIBIT INDEX
Exhibit
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Number Description
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99.1* Press Release dated March 13, 2000
99.2* Conversion Agreement dated March 13, 2000.
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*filed herewith