8-K: Current report
Published on January 15, 2010
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
Earliest Report Event: December 28, 2009
Spine Pain Management,
Inc.
(Formerly
“Versa Card, Inc.”)
(Exact name of registrant as specified in its charter)
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Delaware
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000-27407
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98-0187705
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(State
Or Other Jurisdiction of Incorporation)
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(Commission
File Number)
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(IRS
Employer Identification No.)
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5225
Katy Freeway
Suite
600
Houston,
Texas 77007
(Address
of principal executive office) (Postal Code)
(713)
816-7303
(Registrant’s
telephone number)
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ITEM
8.01
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OTHER
EVENTS.
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On
December 28, 2009, the Board of Directors of Spine Pain Management, Inc. (the
“Company”) executed a Consent to Action in lieu of a special meeting, whereby
the Company approved the conversion of $349,400 of outstanding debt owed by the
Company to William Donovan, M.D., the Company’s Chief Executive Officer, into
shares of the Company’s common stock. The Company owed this
outstanding debt to Dr. Donovan in connection with funds Dr. Donovan advanced to
the Company from September 2009 to December 2009 for its spine injury treatment
operations. The Consent to Action provided for the conversion of the
outstanding debt into shares of the Company’s common stock at the conversion
price of $.6988 per share and thus the issuance to Dr. Donovan of 500,000
restricted shares of common stock as full satisfaction of the outstanding
debt.
In the
Consent to Action, the Board of Directors also approved the appointment of John
A. Talamas as Director of Clinic Operations of the Company and the reissuance to
Mr. Talamas of 500,000 restricted shares of common stock as consideration for
his employment.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report on Form 8-K to be signed on its behalf by the
undersigned hereunto duly authorized.
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SPINE
PAIN MANAGEMENT, INC.
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/s/
William Donovan, M.D.
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By: William
Donovan, M.D.
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Date: January
14, 2010
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Chief
Executive Officer
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