BioMerica Inc. (BMRA)

[badman]

Hmmm...InterestingVeryInteresting...oldmanbadman rdncoic

http://secfilings.nasdaq.com/filingFrameset.asp?FileName=0001513162%2D13%2D000271%2Etxt&FilePath=%5C2013%5C04%5C08%5C&CoName=BIOMERICA+INC&FormType=8%2DK&RcvdDate=4%2F8%2F2013&pdf=







(Before It's News)

8k filed on 4/8/2013

Item 1.01.
Entry into a Material Definitive Agreement

On April 2, 2013, Biomerica, Inc. ("Biomerica" or the "Company") entered into a new exclusive distribution agreement and a First Amendment thereto with a new distributor in China (the “New Distribution Agreement”). The New Distribution Agreement has a three year term and covers the Company’s GAD, ICA, IAA and certain food intolerance products for the China market. The terms of the New Distribution Agreement are similar to the former distribution agreement entered into with the Company’s former China distributor which was terminated as described in Item 1.02 below (the “Prior Distribution Agreement”). The New Distribution Agreement provides for greater minimum sales volumes than were in the Company’s Prior Distribution Agreement.

Item 1.02.
Termination of Material Definitive Agreement.

On April 2, 2013, prior to entering into the New Distribution Agreement described in Item 1.01 above, the Company terminated its existing exclusive Prior Distribution Agreement with its distributor in China. At the time of the termination of the Prior Distribution Agreement, there was no accounts receivable due from the prior distributor.