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):
03-11-02
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Commission file number 0-17268
MICRON SOLUTIONS, INC.
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(Exact name of registrant as specified in its charter)
Nevada 86-0577075
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(State of other jurisdiction (I.R.S. Employer
of incorporation or Identification No.)
organization)
8361 E. Evans Road, Suite 105, Scottsdale, AZ 85260
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(Address of principal executive offices) (Zip Code)
Registrant's Telephone number, including area code: (480) 607-7243
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Item No. 2. Acquisition or Disposition of Assets
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Effective March 1, 2002, Micron Solutions, Inc. (the "Company") entered
into an exchange agreement with PanaMed, Inc., California corporation. Under the
terms of the exchange agreement, PanaMed obtained equity and management control
of the Company by exchanging all the issued and outstanding shares of PanaMed
for 21 million shares of the Company's common stock. The exchange agreement
represent not only a change and control of the company, but a change in the
Company's principal line of business.
PanaMed has obtained exclusive licensing rights to distribute a
proprietary line of immuno-modulating therapeutic compounds for the treatment of
HIV/AIDS. Anecdotal human case study trials have shown the therapeutics to be
effective in reversing the viral load to a non-detect level and maintaining the
non-detect level over a 5 year period of time. In addition, the therapeutics are
expected to provide a number of advantages over conventional AIDS medication,
including; simple to administer (no shots), minimal side effects, effective
against different HIV viral derivatives, cost effective, and non- patient
specific. The therapeutics are particularly suitable for large scale patient
treatment programs.
PanaMed plans to launch formal clinical trials, in April 2002, within
the continent of Africa. Africa was chosen as the starting point for PanaMed's
clinical trials and treatments due to its sizable base of AIDS patients which
have not been exposed to conventional AIDS medication. Although the therapeutics
are expected to be effective when used in conjunction with or after conventional
treatments, PanaMed prefers to work with patients which have not been previously
so treated as to clearly show the effects of the therapeutics. After successful
completion of these trials, PanaMed plans to launch a distribution program to
provide low cost treatment to those infected with this disease.
PanaMed was founded as a private company in August 2001 for the primary
purpose of testing and distributing a proprietary line of therapeutics used for
reversing HIV/AIDS. Quintek Technologies, Inc., (OTCBB:OTEK) assisted in
launching PanaMed and later acquired a 10% equity position in the Company
through a stock swap transaction. In February 2002, PanaMed entered into a
reorganization agreement with Micron Solution, Inc. to combine the assets,
liabilities and operations of the two companies, with PanaMed management
assuming control of the combined equity.
Item No. 7. Financial Statements and Exhibits
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(3) Exhibits
Appropriate financial statements reflecting the change in the Company's
management and control and business operations will be filed with an Amended
Form 8-K within sixty (60) days of the filing of this Form 8-K.
SIGNATURES
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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.
MICRON SOLUTIONS, INC.
Date: March 12, 2002 By: /s/ Thomas W.Sims
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Thomas W. Sims, President PanaMed