UNITED STATES
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 12, 2007
Eaton Laboratories, Inc.
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(Name of Small Business Issuer in its Charter)
Nevada 333-76242 45-0487463
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
500 N. Rainbow, Suite 300, Las Vegas, NV 89107
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(Address of principal executive offices)
(702) 221-1953
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(Issuer's telephone number)
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(Former name or former address, if changed since last report)
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 Instruction 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))
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Item 8.01 - Other Events
The Board of Directors for Eaton Laboratories announced the declaration of a
special stock dividend through which Eaton Laboratories will spin off its
wholly-owned subsidiary, Basic Services, Inc. a Nevada corporation to its own
shareholders, in the same proportion as they own stock in Eaton Laboratories.
Record shareholders of Eaton Laboratories as of the close of business on
April 24, 2007, will receive one (1) unregistered common share, par value
$0.001, of Basic Services, Inc. common stock for every share of Eaton
Laboratories common stock owned. The Basic Services, Inc. stock dividend will
be based on 10,873,750 shares of Eaton Laboratories common stock that are
issued and outstanding as of the record date. The spin off does not include
any stock issued to the shareholders of Hydrogen Hybrid Technologies, Inc.,
who received 49,500,000 shares pursuant to the Acquisition and Plan of Merger
with Eaton Laboratories dated March 30, 2007 and filed in a Current Report on
Form 8-K, dated March 30, 2007.
Following the issuance of the stock dividend, Basic Services will have
10,873,750 common shares issued and outstanding. The stock dividend is payable
on April 30, 2007.
Eaton Laboratories will retain no ownership in Basic Services, Inc. following
the issuance of the stock dividend. Further, Basic Services, Inc. will no
longer be a subsidiary of Eaton Laboratories. At the time of spin off, all of
the assets and liabilities of the pharmaceutical operations of Eaton
Laboratories will be transferred into this subsidiary. Basic Services will be
a non-reporting private company that has the same operations as Eaton
Laboratories with no revenues and will be owned by the same shareholders of
Eaton Laboratories. Basic Services, Inc. will have different management than
Eaton Laboratories, Inc.
The Acquisition and Plan of Merger between Eaton Laboratories, Inc. and
Hydrogen Hybrid Technologies, Inc. filed with the Commission on Form 8-K on
March 30, 2007 details this spin off and is incorporated herein as reference.
Basic Services, Inc. will focus its efforts to develop a proprietary generic
pharmaceutical product. Eaton Laboratories since acquired by Hydrogen Hybrid
Technologies, Inc. is now engaged in the business of selling and distributing
of on-board hydrogen generating and injections systems for the Original
Equipment Manufacturer, car and light truck markets globally.
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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 hereunto duly authorized.
Eaton Laboratories, Inc.
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Registrant
By: /s/ Ira Lyons
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Name: Ira Lyons
Title: President/Director
Dated: April 17, 2007
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