SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) April 3, 2001
DIALYSIS CORPORATION OF AMERICA
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(Exact name of registrant as specified in its charter)
Florida 0-8527 59-1757642
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File number) Identification No.)
27 Miller Street, Lemoyne, Pennsylvania 17043
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (717) 730-6164
Item 5. Other Events
Dialysis Corporation of America (the "Company"), entered into a Commercial
Loan Agreement with Heritage Community Bank (the "Bank"), in a principal amount
of $787,500. The Agreement provides for an annual interest rate of 8.29%, and
$2,800 loan origination fee and additional nonrefundable fees and charges,
aggregating $8,771.50. The Company executed a six-year demand promissory note,
payable in 60 monthly payments, 59 installments of $6,800, with the balance
payable on April 3, 2006. The Note is subject to a $150.00 prepayment fee.
The loan is secured by the interest in the Company's real property located at
3564 North Crossing Circle, Valdosta, Georgia. The Company is required to
maintain with the Bank a $15,000 money-market interest bearing account. The
Company's parent, Medicore, Inc., has guaranteed the loan.
The property is leased in part to one of our dialysis centers under a ten-
year lease with two five years renewals, and in part to a professional
association, which acts as the medical director of our Valdosta facility, for
its medical offices under a ten year lease with two five year renewal terms.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
(a) Financial Statements
Not Applicable
(b) Pro Forma Financial Information
Not Applicable
(c) Exhibits
(10) Material Contracts
(i) Commercial Loan Agreement between Dialysis Corporation
of America and Heritage Community Bank, dated April 3,
2001.
(ii) Promissory Note by Dialysis Corporation of America to
Heritage Community Bank, dated April 3, 2001.
(iii) Guaranty by Medicore, Inc. dated April 3, 2001
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.
DIALYSIS CORPORATION OF AMERICA
/s/ Stephen W. Everett
By------------------------------
STEPHEN W. EVERETT, President
Dated: June 14, 2001
EXHIBIT INDEX
(10) Material Contracts
(i) Commercial Loan Agreement between Dialysis Corporation of America
and Heritage Community Bank, dated April 3, 2001.
(ii) Promissory Note by Dialysis Corporation of America to Heritage
Community Bank, dated April 3, 2001.
(iii) Guaranty by Medicore, Inc. dated April 3, 2001.