UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
October 6, 2003
Date of Report (Date of earliest reported event)
QUICK-MED TECHNOLOGIES, INC.
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(Exact name of registrant as specified in its charter)
Nevada
(State or other jurisdiction of incorporation)
0-27545
(Commission File Number)
98-0204736
(IRS Employer Identification No.)
3427 SW 42nd Way, Gainesville, Florida 32608
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(Address of principal executive offices) (Zip Code)
(352) 379-0611
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Registrant's telephone number, including area code
(Not Applicable)
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(Former name or former address, if changed since last report)
ITEM 5. Other Events
On September 30, 2003, the United States Securities and Exchange Commission
("SEC") filed a civil lawsuit against our then General
Counsel/Director/Secretary, Michael Karsch, MCG Partners, Inc., of which Mr.
Karsch was a managing director, and others (SEC v. 2DoTrade, Inc. et al., Civil
Action Number 3:03-CV-2246-N (Godbey) (N.D. Texas, Dallas Division)). The SEC
action alleges that Mr. Karsch and MCG Partners violated and aided and abetted
violations of Section 10(b) of the Securities and Exchange Act of 1934 and Rule
10b-5 thereunder; violated Section 17(a) of the Securities Act of 1933
("Securities Act"); and violated Section 5(a) and 5(c) of the Securities Act. In
this action, the SEC is seeking from Mr. Karsch and MCG Partners: (a) permanent
injunctions for the foregoing alleged securities laws violations; (b) an
accounting of all alleged ill gotten gains; (c) disgorgement of all alleged ill
gotten gains; and (d) civil money penalties. In addition, the SEC seeks to bar
Mr. Karsch from participating in any offering of penny stocks.
Simultaneous to the above SEC action, the United States Justice Department
obtained federal criminal indictments against Mr. Karsch and others (UNITED
STATES OF AMERICA V. BARRY WILLIAM GEWIN ET AL, Criminal No. 03-366 (District of
Columbia)). The Indictment alleges that Mr. Karsch violated and aided and
abetted violations of federal law, including: (a) Conspiracy to Commit
Securities and Wire Fraud (18 U.S.C., Section 371); (b) Wire Fraud (18 U.S.C.,
Section 1343); and (c) Securities Fraud (15 U.S.C., Section 78j(b) and 17
C.F.R., Section 240.10b-5).
Neither the SEC nor the Justice Department actions described above alleged any
facts pertaining, directly or indirectly, to Quick-Med Technologies' (the
"Company" or "our" or the "Registrant") business, operations, or affairs,
financial or otherwise. No officer, director, or any other member of our
management had any knowledge of Mr. Karsch's alleged violations in the SEC or
Justice Department matters.
On September 30, 2003, the same day the SEC took action against Mr. Karsch, our
Board of Directors held a Special Meeting at which Mr. Karsch's resignation as
director was accepted; Mr. Karsch was also removed as General Counsel and
Corporate Secretary. Mr. Karsch's removal was not due to any disagreement with
or observed conflict with the Company on any matter relating to the Company's
operations, policies, or practices.
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.
Quick-Med Technologies, Inc.
Dated: October 6, 2003
/s/ David Lerner
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David Lerner, President
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