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): August 9, 2002
CYBERCARE, INC.
(Exact name of registrant as specified in its charter)
Florida 0-20356 65-0158479
--------------------------------------------------------------------------
(State or other jurisdiction (Commission File Number) (IRS Employer ID
of incorporation) Number)
2500 Quantum Lakes Drive, Suite 1000, Boynton Beach, Florida 33426
--------------------------------------------------------------------------------
(Address of principal executive offices)
Registrant's telephone number, including area code: 561-742-5000
------------
Item 5. Other Events
On August 9, 2002, Registrant's accounts receivable lender advised Registrant
that it will not provide additional funding to Registrant, which may affect
Registrant's ability to meet certain obligations.
In addition, on August 13, 2002, the president of Registrant's pharmacy
operations was terminated by Registrant and certain key pharmacy employees
resigned. While Registrant has taken all steps it believes necessary to
prevent the foregoing from resulting in an interruption in pharmacy services,
the failure of Registrant to promptly replace said employees with qualified
professionals could materially adversely affect pharmacy operations in the
future.
Registrant is considering all options available to it to protect the
interests of its shareholders and creditors, and to permit the uninterrupted
continuation of its operations, including, but not limited to, an agreement
in principal that has been reached with an investor on August 13, 2002 that
would provide Registrant with working capital sufficient to fund its current
operations and meet its current obligations. While a preliminary term sheet
has been executed by the parties, the funding of the foregoing investment
remains subject to the execution of definitive agreements.
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 duly authorized.
Date: August 13, 2002 By: /s/ Joseph R. Forte
-------------------------------------
Joseph R. Forte
President and Chief Executive Officer