UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
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Date of report (Date of earliest event reported): March 19, 2007
Applied DNA Sciences, Inc
(Exact Name of Registrant as Specified in Charter)
Nevada 002-90539 59-2262718
(State or Other (Commission File Number) (IRS Employer
Jurisdiction Identification No.)
of Incorporation)
25 Health Sciences Drive, Suite 113
Stony Brook, New York 11790
(Address of Principal Executive Offices) (Zip Code)
631-444-6861
(Registrant's telephone number, including area code)
Not Applicable
(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))
1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.
On March 19, 2007, Applied DNA Sciences, Inc. (the "Company") and HPT
International, LLC ("HPT") entered into a Technology Reseller Agreement (the
"Agreement"). In the Agreement the Company agreed to supply its SigNature DNA
Markers to HPT to be affixed onto HPT's holograms, Nylon 6 tags and other
plastic or metal food tags. HPT has been granted exclusive rights to affix the
Company's SigNature DNA Markers onto its tagging products for distribution to
its customers in the United States in the poultry and kosher foods markets, and
non-exclusive rights to attach the Company's SigNature DNA Markers onto its
tagging products for distribution to its customers worldwide. The Company will
be paid a fee for each SigNature DNA Marker that is attached to an HPT product
and distributed to a third party, and for each forensic authentication test that
the Company performs at HPT's request. HPT has been granted exclusive rights in
the U.S. poultry and kosher foods markets with respect to new customers through
March 18, 2008. After that date, HPT will lose its exclusive rights if it does
not realize certain sales goals or does not agree to certain minimum purchases
during the subsequent year of the agreement. Under the Agreement, HPT has the
right to permanent exclusivity in the U.S. poultry and kosher foods markets if
it realizes its sales goals for the first two years under the agreement and
achieves an additional milestone to be agreed by the Company and HPT prior to
March 18, 2009. The Agreement may be terminated by the Company or HPT on any
anniversary of the Agreement by providing ninety (90) days prior written notice.
The foregoing description is qualified in its entirety by reference to the
Agreement, a copy of which is attached hereto as Exhibit 10.1 and incorporated
herein by reference. A copy of the press release relating to the announcement is
attached as Exhibit 99.1 and is incorporated herein by reference.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
(d) Exhibits.
Exhibit 10.1 Technology Reseller Agreement, dated March 19, 2007 by and
between Applied DNA Sciences and HPT International LLC.**
Exhibit 99.1 Press release of Applied DNA Sciences, Inc.,
dated March 23, 2007.
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** Confidential treatment has been requested with respect to
certain portions of this exhibit pursuant to Rule 24b-2 under
the Securities Exchange Act of 1934, as amended. Omitted
portions have been field separately with the Commission.
SIGNATURE
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.
Applied DNA Sciences, Inc.
(Registrant)
By: /s/ James A. Hayward
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James A. Hayward
Chief Executive Officer
Date: March 23, 2007