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<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 0; margin-bottom: 0"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">UNITED STATES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SECURITIES AND EXCHANGE COMMISSION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Washington, D.C.&nbsp;&nbsp;20549</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">FORM 8-K</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">CURRENT REPORT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Pursuant to Section 13 or 15(d) of the</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Securities Exchange Act of 1934</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Date of Report (Date of earliest event reported):&nbsp;&nbsp;August
24, 2012</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>BioDrain Medical, Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact name of Registrant as Specified in
its Charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Minnesota</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(State or Other Jurisdiction of Incorporation)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <TD STYLE="width: 50%; font-size: 10pt; font-weight: bold; text-align: center">333-155299</TD>
    <TD STYLE="width: 50%; font-size: 10pt; font-weight: bold; text-align: center">33-1007393</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: center">(Commission File Number)</TD>
    <TD STYLE="font-size: 10pt; text-align: center">(IRS Employer Identification No.)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>2915 Commers Drive, Suite 900</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Eagan,&nbsp;&nbsp; MN&nbsp; 55121</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Address of Principal Executive Offices
and Zip Code)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0"><B>(651) 389-4800<BR>
</B>(Registrant&rsquo;s telephone number, including area code)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Not Applicable</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Former Name or Former Address, if Changed
Since Last Report)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">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:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; font: 10pt Wingdings">&uml;</TD>
    <TD STYLE="width: 95%; font-size: 10pt">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; font: 10pt Wingdings">&uml;</TD>
    <TD STYLE="width: 95%; font-size: 10pt">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</TD></TR>
</TABLE>
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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; font: 10pt Wingdings">&uml;</TD>
    <TD STYLE="width: 95%; font-size: 10pt">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; font: 10pt Wingdings">&uml;</TD>
    <TD STYLE="width: 95%; font-size: 10pt">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 1in; text-align: left"><B>Item 1.01</B></TD><TD STYLE="text-align: justify"><B>Entry into a Material Definitive Agreement.</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="background-color: white">The
information included in Item 3.02 below is incorporated by reference in its entirety.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 1in; text-align: left"><B>Item 3.02</B></TD><TD STYLE="text-align: justify"><B>Unregistered Sales of Equity Securities.</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">From August 15, 2012
to August 30, 2012, BioDrain Medical, Inc. (the &ldquo;Company&rdquo;) issued an aggregate of 3,051,952 units of its securities
(each a &ldquo;Unit&rdquo;, collectively, the &ldquo;Units&rdquo;), to thirteen accredited investors at a price of $0.07 per Unit,
for aggregate proceeds of $213,636.58 in a private placement (the &ldquo;Offering&rdquo;). Each Unit consists of one share of common
stock of the Company (&ldquo;Common Stock&rdquo;) and a warrant (collectively, the &ldquo;Warrants&rdquo;) to purchase one share
of Common Stock. The Warrants are exercisable at an exercise price of $0.15 per share (the &ldquo;Exercise Price&rdquo;) any time
after the date of issuance (the &ldquo;Issue Date&rdquo;) until 5:00 p.m. Eastern time on the fifth anniversary of the Issue Date
(the &ldquo;Expiration Date&rdquo;). In addition, provided that the shares of Common Stock underlying the Warrants are not registered
pursuant to an effective registration statement under the Securities Act of 1933, as amended (the &ldquo;Securities Act&rdquo;)
and the fair market value of one share of Common Stock is greater than the Exercise Price, any time from and after the 180<SUP>th</SUP>
day following the Issue Date until the Expiration Date, the Warrants may be exercised on a cashless basis.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Units were sold
and issued pursuant to the form of Securities Purchase Agreement and Warrant attached as Exhibits 10.1 and 4.1, respectively, of
the Current Report on Form 8-K filed by the Company on June 21, 2012. No commissions were paid in respect of the sale of the Units.
The Units and securities underlying the Units were issued in reliance upon the exemption from registration provided by <FONT STYLE="color: black">Rule&nbsp;506
of Regulation D under the Securities Act, inasmuch as</FONT> the Units were sold to accredited investors only and the Company did
not engage in any general advertisement or general solicitation in connection with the Offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The above descriptions
of the Securities Purchase Agreements and Warrants are intended to be a summary only and are qualified in their entirety by the
terms of such documents, filed as Exhibits 10.1 and 4.1, respectively, of the Current Report on Form 8-K filed by the Company on
June 21, 2012, incorporated herein by this reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As of the date of this
filing, there are 98,034,727 shares<FONT STYLE="color: black"> of Common Stock of the</FONT> Company outstanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 1in; text-align: left"><B>Item 9.01.</B></TD><TD STYLE="text-align: justify"><B>Exhibits and Financial Statements</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">4.1.</TD><TD>Form of Warrant issued in the Offering. (incorporated by reference herein to the Form 8-K filed as Exhibit 10.1 to the Company's
Form 8-K filed on June 21, 2012).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">10.1</TD><TD>Form of Securities Purchase Agreement (incorporated by reference herein to the Form 8-K filed as Exhibit 10.1 to the Company's
Form 8-K filed on June 21, 2012).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><BR>
<B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Pursuant to the requirements of the Securities
Exchange Act of 1934, the Company has duly caused this Current Report to be signed on its behalf by the undersigned hereunto duly
authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Date: August 30, 2012</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">BIODRAIN MEDICAL, INC. &nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%">By:</TD>
    <TD NOWRAP STYLE="width: 45%; border-bottom: windowtext 1pt solid">/s/&nbsp;Josh Kornberg &nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP>Josh Kornberg &nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Chief Executive Officer &nbsp;&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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{"company-data": {"conformed-name": "BioDrain Medical, Inc.", "cik": "0001446159", "assigned-sic": "3842", "irs-number": "331007393", "state-of-incorporation": "MN", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-54361", "film-number": "121066178"}, "business-address": {"street1": "2060 CENTRE POINTE BOULEVARD", "street2": "SUITE 7", "city": "MENDOTA HEIGHTS", "state": "MN", "zip": "55120", "phone": "(612) 850-9460"}, "mail-address": {"street1": "2060 CENTRE POINTE BOULEVARD", "street2": "SUITE 7", "city": "MENDOTA HEIGHTS", "state": "MN", "zip": "55120"}}
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
24, 2012
BioDrain Medical, Inc.
(Exact name of Registrant as Specified in
its Charter)
Minnesota
(State or Other Jurisdiction of Incorporation)
333-155299
33-1007393
(Commission File Number)
(IRS Employer Identification No.)
2915 Commers Drive, Suite 900
Eagan,   MN  55121
(Address of Principal Executive Offices
and Zip Code)
(651) 389-4800
(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:
¨
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨
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.
The
information included in Item 3.02 below is incorporated by reference in its entirety.
Item 3.02
Unregistered Sales of Equity Securities.
From August 15, 2012
to August 30, 2012, BioDrain Medical, Inc. (the "Company") issued an aggregate of 3,051,952 units of its securities
(each a "Unit", collectively, the "Units"), to thirteen accredited investors at a price of $0.07 per Unit,
for aggregate proceeds of $213,636.58 in a private placement (the "Offering"). Each Unit consists of one share of common
stock of the Company ("Common Stock") and a warrant (collectively, the "Warrants") to purchase one share
of Common Stock. The Warrants are exercisable at an exercise price of $0.15 per share (the "Exercise Price") any time
after the date of issuance (the "Issue Date") until 5:00 p.m. Eastern time on the fifth anniversary of the Issue Date
(the "Expiration Date"). In addition, provided that the shares of Common Stock underlying the Warrants are not registered
pursuant to an effective registration statement under the Securities Act of 1933, as amended (the "Securities Act")
and the fair market value of one share of Common Stock is greater than the Exercise Price, any time from and after the 180
th
day following the Issue Date until the Expiration Date, the Warrants may be exercised on a cashless basis.
The Units were sold
and issued pursuant to the form of Securities Purchase Agreement and Warrant attached as Exhibits 10.1 and 4.1, respectively, of
the Current Report on Form 8-K filed by the Company on June 21, 2012. No commissions were paid in respect of the sale of the Units.
The Units and securities underlying the Units were issued in reliance upon the exemption from registration provided by
Rule 506
of Regulation D under the Securities Act, inasmuch as
the Units were sold to accredited investors only and the Company did
not engage in any general advertisement or general solicitation in connection with the Offering.
The above descriptions
of the Securities Purchase Agreements and Warrants are intended to be a summary only and are qualified in their entirety by the
terms of such documents, filed as Exhibits 10.1 and 4.1, respectively, of the Current Report on Form 8-K filed by the Company on
June 21, 2012, incorporated herein by this reference.
As of the date of this
filing, there are 98,034,727 shares
of Common Stock of the
Company outstanding.
Item 9.01.
Exhibits and Financial Statements
4.1.
Form of Warrant issued in the Offering. (incorporated by reference herein to the Form 8-K filed as Exhibit 10.1 to the Company's
Form 8-K filed on June 21, 2012).
10.1
Form of Securities Purchase Agreement (incorporated by reference herein to the Form 8-K filed as Exhibit 10.1 to the Company's
Form 8-K filed on June 21, 2012).
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the Company has duly caused this Current Report to be signed on its behalf by the undersigned hereunto duly
authorized.
Date: August 30, 2012
BIODRAIN MEDICAL, INC.
By:
/s/ Josh Kornberg
Josh Kornberg
Chief Executive Officer