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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 July 2, 2004
SURGICARE, INC.
(Exact Name of Registrant as Specified in Its Charter)
DELAWARE 001-16587 58-1597246
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
12727 Kimberly Lane, Suite 200
HOUSTON, TEXAS 77024
(Address of principal executive offices)
(713) 973-6675
(Registrant's telephone number, including area code)
N/A
(Former name or former address, if changed since last report)
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ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS.
On June 23, 2004, SurgiCare finalized negotiations with American International
Industries, Inc. ("AII") to sell its five tracts of undeveloped land to AII for
$250,000 and the assumption of its loan of approximately $1.2 million. The land
was held by SurgiCare for investment purposes. This agreement was made in
connection to an agreement to convert Surgicare's Series AA Redeemable Preferred
Stock held by AII into SurgiCare common shares.
ITEM 5. OTHER EVENTS.
On July 1, 2004, SurgiCare, Inc., a Delaware corporation, issued a press release
announcing that it has entered into agreements to: convert its Series AA
Redeemable Preferred Stock to common; sell its five tracts of undeveloped land;
and settle its debt with its senior lender. The Company also announced a change
in its CFO Position. The press release is attached hereto as Exhibit 99.1 and is
incorporated by reference herein.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits
The following is a list of exhibits filed as part of this Form 8-K.
Exhibit No. Description of Document
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3.1 Certificate of Designation, Powers, Preferences and Rights of
Series AA Preferred Stock, par value $.001 per share of
SurgiCare, Inc.
99.1 Press release dated July 1, 2004. SurgiCare Enters into Agreement
to Convert Preferred Stock to Common; Negotiates Land Sale and
Debt Settlement; Announces Change in CFO Position.
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.
SURGICARE, INC.
Date: July 2, 2004 By: /s/ Keith LeBlanc
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Keith LeBlanc
President and Chief Executive Officer
Exhibit Index
Exhibit No. Description of Document
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3.1 Certificate of Designation, Powers, Preferences and Rights of
Series AA Preferred Stock, par value $.001 per share of
SurgiCare, Inc.
99.1 Press release dated July 1, 2004. SurgiCare Enters into Agreement
to Convert Preferred Stock to Common; Negotiates Land Sale and
Debt Settlement; Announces Change in CFO Position.