Biomoda Inc. (fka BMODQ)

[The Rainmaker]

8K Filed for Funding announced this morning. .25 cent fixed floor price. Very, very clean money nice job BMOD. 80% of stock price a year from now
(Deep into Phase III and presumably BMOD stock price much higher August 2011) or .25 cent floor price. .25 cent floor is a very bullish sign when stock is trading around .18 now. Warrants also at .25 cents


Item 1.01. Entry into a Material Definitive Agreement.

On September 15, 2010, Biomoda, Inc., a New Mexico corporation (the “ Company ”), entered into a Securities Purchase Agreement with two institutional investors
(collectively, the “ Purchasers ”), pursuant to which the Company agreed to sell in a private placement transaction (the “ Financing ”) (i) an aggregate of $560,000 in principal amount of convertible notes (“Notes”), with a conversion price equal to the lesser of $.25 or 80% of the average of the three lowest daily VWAPs for the 20 consecutive trading days prior to the date on which a Purchaser elects to convert all or part of its Note and (ii) 5-Year Warrants to purchase an aggregate of 2,000,000 shares of common stock with an exercise price of $0.25 per share.

The shares of common stock issuable upon conversion of the Notes and exercise of the Warrants are restricted securities.

The Securities Purchase Agreement is attached as Exhibit 10.1 to this report and is incorporated herein by reference. The Securities Purchase Agreement contains representations and warranties of the Company and the Purchasers which are typical for transactions of this type. The representations and warranties made by the Company in the Securities Purchase Agreement are qualified by reference to certain exceptions contained in a disclosure schedule attached to the Purchase Agreement. A copy of the form of the Convertible Note is attached to this report as Exhibit 4.1 and a copy of the form of Warrant is attached as Exhibit 4.2, each of which is incorporated herein by reference.

The description of the documents and transaction are summaries only and are qualified in their entirety by reference to the Exhibits and have been described herein to provide you with information regarding their terms. They are not intended to provide any other factual information about the Company. Such information about the Company can be found elsewhere in other public filings that the Company has made with the Securities and Exchange Commission and that are available without charge at www.sec.gov.

Item 3.02. Unregistered Sales of Equity Securities.

The information required by Item 3.02 is included in Item 1.01 and incorporated herein by reference.

Item 8.01. Other Events.

On September 21, 2010, the Company issued a press release announcing the Financing. A copy of the press release is filed herewith as Exhibit 99.1 and is incorporated into this Item 8.01 by reference.

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