Form 8-K
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): May 8,
2007
Applied
DNA Sciences, Inc
(Exact Name of Registrant
as Specified in Charter)
|
Nevada
(State
or Other
Jurisdiction
of Incorporation)
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002-90539
(Commission
File
Number)
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59-2262718
(IRS
Employer
Identification No.)
|
25
Health Sciences Drive, Suite 113
Stony Brook, New York
11790
(Address of Principal Executive Offices) (Zip
Code)
631-444-
8090
(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):
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Written
communications pursuant to Rule 425 under the Securities
Act (17 CFR 230.425) |
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12) |
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d- 2(b)) |
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e- 4(c)) |
Item
1.01 Entry into a Material Definitive
Agreement.
Champion
Thread Agreement
On May
8, 2007, we
entered into a Product Development, Marketing and Distribution Agreement
with Champion Thread Company, Inc, or Champion Thread. Under the terms of the
agreement Champion Thread will be the exclusive distributor of thread, yarn,
woven labels, and printed labels for textile applications incorporating our
DNA
Markers for an initial period of four years. This initial period will
automatically renew for successive one year periods, subject to either party’s
right to terminate the agreement during the ninety (90) days prior to its
expiration. The parties agreed to jointly develop, market and distribute
enhanced security threads, fabrics, yarns, labels, ribbons, tapes, textile
chemicals, pigments and other textile products incorporating our SigNature
DNA
Markers, and to develop effective procedures for authenticating such products.
We will be paid certain royalties based on a calculation of net receipts by
Champion Thread from any sales of such products.
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
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Exhibit
10.1 |
Product
Development, Marketing and Distribution Agreement,
dated May 8, 2007 by and between Applied DNA Sciences, Inc. and Champion
Thread Company, Inc.** |
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Exhibit
99.1 |
Press
release of Applied DNA Sciences, Inc., dated May 10, 2007.
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| **
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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.
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Applied
DNA
Sciences, Inc. (Registrant) |
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By: |
/s/
James A.
Hayward
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James
A. Hayward
Chief Executive Officer |
Date:
May
11, 2007