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 7, 2003
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NATIONAL SCIENTIFIC CORPORATION
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(Exact name of registrant as specified in its charter)
TEXAS 000-28745 86-0837077
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
14455 N. HAYDEN, SUITE 202, SCOTTSDALE, ARIZONA 85260
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(Address of principal executive offices) (Zip Code)
REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE (480) 948-8324
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N/A
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(Former name or former address, if changed since last report.)
ITEM 9. REGULATION FD DISCLOSURE.
In conjunction with the Company's annual Form 10-KSB for its fiscal
year ended September 30, 2002, and the Company's quarterly Form 10-QSB for the
period ended December 31, 2002, accounts payable liabilities were presented that
included approximately $150,000 to its largest creditor, a services firm. In
late March of 2003, the Company came to a definitive settlement agreement with
this creditor regarding this debt. The result of this agreement was the
elimination of approximately $150,000 of short term liability previously owed by
the Company to this creditor. The Company was able to eliminate these
liabilities without the use of cash. This settlement is anticipated to result in
a reduction in the Company's net losses of approximately $125,000 for the
quarter ended March 31, 2003, as well as approximately a $25,000 increase in
overall shareholders equity. Full operating results for that quarter are not yet
available, but the results of operations for that quarter, including this
settlement, are expected to be reported by the Company in its Form 10-QSB for
the period ended March 31, 2003, which is expected to be filed on or before
May 15, 2003.
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.
NATIONAL SCIENTIFIC CORPORATION
Date: April 7, 2003 By: /s/ Michael A. Grollman
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Michael A. Grollman
Chief Executive Officer, Chairman
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