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<head> </head> <body style="MARGIN-TOP:0px; FONT-FAMILY:Times New Roman; COLOR:#000000; FONT-SIZE:10pt"> <div style=WIDTH:697px> <p style=MARGIN:0px align=center><br></p> <p style="MARGIN:0px; FONT-SIZE:12pt" align=center><b>SECURITIES AND EXCHANGE COMMISSION</b></p> <p style=MARGIN:0px align=center><br></p> <p style="MARGIN:0px; FONT-SIZE:12pt" align=center><b>Washington, D.C. 20549</b></p> <p style="MARGIN:0px; FONT-SIZE:12pt" align=center>___________________________________________</p> <p style=MARGIN:0px align=center><br></p> <p style="MARGIN:0px; FONT-SIZE:12pt" align=center><b>FORM 8-K</b></p> <p style=MARGIN:0px align=center><br></p> <p style="MARGIN:0px; FONT-SIZE:12pt" align=center><b>CURRENT REPORT</b></p> <p style="MARGIN:0px; FONT-SIZE:12pt" align=center><b>PURSUANT TO SECTION 13 OR 15(D) OF THE</b></p> <p style="MARGIN:0px; FONT-SIZE:12pt" align=center><b>SECURITIES EXCHANGE ACT OF 1934</b></p> <p style=MARGIN:0px align=center><br></p> <p style=MARGIN:0px align=center>Date of Report (Date of earliest event reported): &nbsp;&nbsp;September 7, 2012</p> <p style=MARGIN:0px align=center><br></p> <p style="MARGIN:0px; FONT-SIZE:12pt" align=center><b>ACCELPATH, INC.</b></p> <p style=MARGIN:0px align=center><i>(Exact Name of Registrant as Specified in Charter)</i></p> <p style=MARGIN:0px><br></p> <table width=100% style="MARGIN-TOP:0px; FONT-SIZE:10pt" cellpadding=0 cellspacing=0> <tr style=FONT-SIZE:0px> <td width=216> <td width=20> <td> <td width=20> <td width=216 /> </tr><tr> <td width=216 style="BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px" valign=top> <p style=MARGIN:0px align=center><b>Delaware</b></p></td> <td width=20 style=MARGIN-TOP:0px valign=top> <p style="PADDING-BOTTOM:0px; MARGIN:0px; PADDING-LEFT:0px; PADDING-RIGHT:0px; PADDING-TOP:0px">&nbsp;</p></td> <td style="BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px" valign=top> <p style=MARGIN:0px align=center><b>000-27023</b></p></td> <td width=20 style=MARGIN-TOP:0px valign=top> <p style="PADDING-BOTTOM:0px; MARGIN:0px; PADDING-LEFT:0px; PADDING-RIGHT:0px; PADDING-TOP:0px">&nbsp;</p></td> <td width=216 style="BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px" valign=top> <p style=MARGIN:0px align=center><b>45-5151193</b></p></td></tr> <tr> <td width=216 style=MARGIN-TOP:0px valign=top> <p style=MARGIN:0px align=center><i>(State or other jurisdiction</i></p> <p style=MARGIN:0px align=center><i>of incorporation)</i></p></td> <td width=20 style=MARGIN-TOP:0px valign=top> <p style="PADDING-BOTTOM:0px; MARGIN:0px; PADDING-LEFT:0px; PADDING-RIGHT:0px; PADDING-TOP:0px">&nbsp;</p></td> <td style=MARGIN-TOP:0px valign=top> <p style=MARGIN:0px align=center><i>(Commission</i></p> <p style=MARGIN:0px align=center><i>File Number)</i></p></td> <td width=20 style=MARGIN-TOP:0px valign=top> <p style="PADDING-BOTTOM:0px; MARGIN:0px; PADDING-LEFT:0px; PADDING-RIGHT:0px; PADDING-TOP:0px">&nbsp;</p></td> <td width=216 style=MARGIN-TOP:0px valign=top> <p style=MARGIN:0px align=center><i>(IRS Employer</i></p> <p style=MARGIN:0px align=center><i>Identification Number)</i></p></td></tr></table> <p style=MARGIN:0px align=center><br></p> <p style="MARGIN:0px; FONT-SIZE:12pt" align=center><b><u>352A Christopher Avenue, Gaithersburg, MD 20879</u></b></p> <p style=MARGIN:0px align=center><br></p> <p style=MARGIN:0px align=center><i>(Address of principal executive offices) (Zip Code)</i></p> <p style=MARGIN:0px align=center><br></p> <p style="MARGIN:0px; FONT-SIZE:12pt" align=center><b><u>352A Christopher Avenue, Gaithersburg, MD 20879</u></b></p> <p style=MARGIN:0px align=center><br></p> <p style=MARGIN:0px align=center><i>(Mailing Address)</i></p> <p style=MARGIN:0px align=center><br></p> <p style=MARGIN:0px align=center><b>(301) 767-2810</b></p> <p style=MARGIN:0px align=center><i>(Registrant&#146;s telephone number, including area code)</i></p> <p style=MARGIN:0px align=center><br></p> <p style=MARGIN:0px align=center><b><u>N/A</u></b></p> <p style=MARGIN:0px align=center><i>(Former Name or Former Address, if Changed Since Last Report)</i></p> <p style=MARGIN:0px align=center><br></p> <p style=MARGIN:0px>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 (see General Instruction A.2. below).</p> <p style=MARGIN:0px><br></p> <p style="MARGIN:0px; FONT-FAMILY:Wingdings">&#168;<font style="FONT-FAMILY:Times New Roman"> &nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font></p> <p style=MARGIN:0px><br></p> <p style="MARGIN:0px; FONT-FAMILY:Wingdings">&#168;<font style="FONT-FAMILY:Times New Roman"> &nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></p> <p style=MARGIN:0px><br></p> <p style="MARGIN:0px; FONT-FAMILY:Wingdings">&#168;<font style="FONT-FAMILY:Times New Roman"> &nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></p> <p style=MARGIN:0px><br></p> <p style="MARGIN:0px; FONT-FAMILY:Wingdings">&#168;<font style="FONT-FAMILY:Times New Roman"> &nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></p> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px><br><br></p> <p style="PAGE-BREAK-BEFORE:always; MARGIN:0px"><br></p> <p style="MARGIN:0px; FONT-SIZE:12pt" align=justify><b>Item 1.01 Entry into a Material Definitive Agreement.</b></p> <p style="MARGIN:0px; FONT-SIZE:12pt" align=justify><b>Item 3.02 Unregistered Sales of Equity Securities.</b></p> <p style="MARGIN:0px; FONT-SIZE:12pt" align=justify><b>Item 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.</b></p> <p style=MARGIN:0px align=justify><br></p> <p style="MARGIN:0px; FONT-SIZE:12pt" align=justify>On September 7, 2012, AccelPath, Inc. (&#147;AccelPath&#148; or the &#147;Company&#148;) filed the Series F Convertible Preferred Stock Certificate of Designation with the Secretary of State of Delaware (the &#147;Certificate of Designation&#148;) authorizing 100 shares of AccelPath&#146;s Series F Convertible Preferred Stock, with a stated value of $1,000 (the &#147;Series F Preferred&#148;) and to establish the rights, preferences, privileges and obligations thereof. </p> <p style=MARGIN:0px align=justify><br></p> <p style="MARGIN:0px; FONT-SIZE:12pt" align=justify>As set forth in the Certificate of Designation, the Series F Preferred is convertible into AccelPath common stock at any time at the option of the holder thereof. &nbsp;The number of shares of AccelPath common stock into which one share of Series F Preferred is convertible is determined by (i) dividing $1,000 (the stated value) outstanding by the closing bid price on the trading day immediately prior to the date of the conversion notice (the &#147;Conversion Price&#148;), and (ii) multiplying by ten; provided that if the closing bid price on such trading day is less than $0.02 per share, then the Conversion Price shall be $0.02. &nbsp;Accordingly, the 100 shares of Series F Preferred authorized under the Certificate of Designation at a Conversion Price of $0.02 are currently convertible into 50,000,000 shares of AccelPath common stock. &nbsp;</p> <p style=MARGIN:0px align=justify><br></p> <p style="MARGIN:0px; FONT-SIZE:12pt" align=justify>The foregoing summary does not purport to be a complete and is qualified in its entirety by reference to the full text of the Certificate of Designation, a copy of which is filed as <u>Exhibit 4.1</u> to this Current Report on Form 8-K and is incorporated herein by reference. </p> <p style=MARGIN:0px align=justify><br></p> <p style="MARGIN:0px; FONT-SIZE:12pt" align=justify><b><i>Issuance of Shares of Series F Convertible Preferred Stock </i></b></p> <p style=MARGIN:0px align=justify><br></p> <p style="MARGIN:0px; FONT-SIZE:12pt">On September 10, 2012, AccelPath issued 90 shares (the &#147;Shares&#148;) of its Series F Preferred Stock for the purchase price of $90,000 to certain existing investors of AccelPath listed on Exhibit 10.1 &nbsp;pursuant to a Securities Purchase Agreement (the &#147;Securities Purchase Agreement&#148;) dated September 10, 2012, by and between AccelPath and those investors. &nbsp;</p> <p style=MARGIN:0px align=justify><br></p> <p style="MARGIN:0px; FONT-SIZE:12pt" align=justify>As set forth in the Certificate of Designation, the Series F Preferred is convertible into shares of AccelPath common stock at any time at the option of the holder thereof. &nbsp;Pursuant to the conversion formula set forth above, the 90 shares of Series F Preferred issuable to the investors are currently convertible into 45,000,000 shares of AccelPath common stock. &nbsp;</p> <p style=MARGIN:0px align=justify><br></p> <p style="MARGIN:0px; FONT-SIZE:12pt" align=justify>The issuance and sale of the Shares was not be registered under the Securities Act of 1933, and was made in reliance upon the exemptions from the registration requirements of the Securities Act set forth in Section 4(2) thereof.</p> <p style=MARGIN:0px align=justify><br></p> <p style="MARGIN:0px; FONT-SIZE:12pt" align=justify>The foregoing summary does not purport to be complete and is qualified in its entirety by reference to the full text of the Securities Purchase Agreement, a copy of which is filed as <u>Exhibit 10.1</u> to this Current Report on Form 8-K, which is incorporated herein by reference.</p> <p style=MARGIN:0px><br></p> <p style="MARGIN:0px; FONT-SIZE:12pt" align=center>- 2 -</p> <p style=MARGIN:0px align=justify><br><br></p> <p style="PAGE-BREAK-BEFORE:always; MARGIN:0px" align=justify><br></p> <p style="MARGIN:0px; FONT-SIZE:12pt" align=justify><b>Item 9.01. &nbsp;Financial Statements and Exhibits.</b></p> <p style=MARGIN:0px align=justify><br></p> <p style="MARGIN-TOP:0px; WIDTH:48px; MARGIN-BOTTOM:-2px; FLOAT:left; FONT-SIZE:12pt">(d)</p> <p style="TEXT-INDENT:-2px; MARGIN:0px; FONT-SIZE:12pt"><i>Exhibits</i>.</p> <p style="MARGIN:0px; CLEAR:left"><br></p> <table width=100% style="MARGIN-TOP:0px; FONT-SIZE:10pt" cellpadding=0 cellspacing=0> <tr style=FONT-SIZE:0px> <td width=59> <td> <td width=94> <td width=57> <td width=66> <td width=72 /> </tr><tr> <td width=59 style="BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px" valign=bottom> <p style=MARGIN:0px align=center>Exhibit</p> <p style=MARGIN:0px align=center>No.</p></td> <td style="BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px" valign=bottom><p style=MARGIN:0px align=center>Description</p></td> <td width=94 style="BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px"> <p style=MARGIN:0px align=center>Filed with this</p> <p style=MARGIN:0px align=center>Current Report</p></td> <td width=197 colspan=3 style="BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px" valign=bottom> <p style=MARGIN:0px align=center>Incorporated by reference</p></td></tr> <tr> <td width=59 style="BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px"> <p style="PADDING-BOTTOM:0px; MARGIN:0px; PADDING-LEFT:0px; PADDING-RIGHT:0px; PADDING-TOP:0px">&nbsp;</p></td> <td style="BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px"> <p style="PADDING-BOTTOM:0px; MARGIN:0px; PADDING-LEFT:0px; PADDING-RIGHT:0px; PADDING-TOP:0px">&nbsp;</p></td> <td width=94 style="BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px"> <p style="PADDING-BOTTOM:0px; MARGIN:0px; PADDING-LEFT:0px; PADDING-RIGHT:0px; PADDING-TOP:0px">&nbsp;</p></td> <td width=57 style="BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px" valign=top> <p style=MARGIN:0px align=center>Form</p></td> <td width=66 style="BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px"> <p style=MARGIN:0px align=center>Filing Date</p></td> <td width=72 style="BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px"> <p style=MARGIN:0px align=center>Exhibit No.</p></td></tr> <tr> <td width=59 style="BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px" valign=top> <p style=MARGIN:0px>4.1</p></td> <td style="BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px" valign=top> <p style=MARGIN:0px>Series F Convertible Preferred Stock Certificate of Designation &nbsp;filed with the Secretary of State of Delaware on September 7, 2012</p></td> <td width=94 style="BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px" valign=top> <p style=MARGIN:0px align=center>x</p></td> <td width=57 style="BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px" valign=top> <p style="PADDING-BOTTOM:0px; MARGIN:0px; PADDING-LEFT:0px; PADDING-RIGHT:0px; PADDING-TOP:0px">&nbsp;</p></td> <td width=66 style="BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px" valign=top> <p style="PADDING-BOTTOM:0px; MARGIN:0px; PADDING-LEFT:0px; PADDING-RIGHT:0px; PADDING-TOP:0px">&nbsp;</p></td> <td width=72 style="BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px" valign=top> <p style="PADDING-BOTTOM:0px; MARGIN:0px; PADDING-LEFT:0px; PADDING-RIGHT:0px; PADDING-TOP:0px">&nbsp;</p></td></tr> <tr> <td width=59 style="BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px" valign=top> <p style=MARGIN:0px>10.1</p></td> <td style="BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px" valign=top> <p style=MARGIN:0px>Securities Purchase Agreement, dated as of September 10, 2012, by and between AccelPath, Inc. and list of investors set forth therein</p></td> <td width=94 style="BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px" valign=top> <p style=MARGIN:0px align=center>x</p></td> <td width=57 style="BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px" valign=top> <p style="PADDING-BOTTOM:0px; MARGIN:0px; PADDING-LEFT:0px; PADDING-RIGHT:0px; PADDING-TOP:0px">&nbsp;</p></td> <td width=66 style="BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px" valign=top> <p style="PADDING-BOTTOM:0px; MARGIN:0px; PADDING-LEFT:0px; PADDING-RIGHT:0px; PADDING-TOP:0px">&nbsp;</p></td> <td width=72 style="BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px" valign=top> <p style="PADDING-BOTTOM:0px; MARGIN:0px; PADDING-LEFT:0px; PADDING-RIGHT:0px; PADDING-TOP:0px">&nbsp;</p></td></tr></table> <p style=MARGIN:0px><br></p> <p style="MARGIN:0px; FONT-SIZE:12pt" align=center>- 3 -</p> <p style=MARGIN:0px><br><br></p> <p style="PAGE-BREAK-BEFORE:always; MARGIN:0px"><br></p> <p style="MARGIN:0px; FONT-SIZE:12pt" align=center><b>SIGNATURES</b></p> <p style=MARGIN:0px><br></p> <p style="TEXT-INDENT:48px; MARGIN:0px; FONT-SIZE:12pt">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 thereunto duly authorized. </p> <p style=MARGIN:0px><br></p> <table width=100% style="MARGIN-TOP:0px; FONT-SIZE:10pt" cellpadding=0 cellspacing=0> <tr style=FONT-SIZE:0px> <td> <td width=36> <td width=313 /> </tr><tr> <td style=MARGIN-TOP:0px valign=top> <p style="PADDING-BOTTOM:0px; MARGIN:0px; PADDING-LEFT:0px; PADDING-RIGHT:0px; PADDING-TOP:0px">&nbsp;</p></td> <td width=349 colspan=2 style=MARGIN-TOP:0px valign=top> <p style="MARGIN:0px; FONT-SIZE:12pt"><b>ACCELPATH, INC.</b></p></td></tr> <tr> <td style=MARGIN-TOP:0px valign=top> <p style="PADDING-BOTTOM:0px; MARGIN:0px; PADDING-LEFT:0px; PADDING-RIGHT:0px; FONT-SIZE:12pt; PADDING-TOP:0px">&nbsp;</p></td> <td width=36 style=MARGIN-TOP:0px valign=top> <p style="PADDING-BOTTOM:0px; MARGIN:0px; PADDING-LEFT:0px; PADDING-RIGHT:0px; FONT-SIZE:12pt; PADDING-TOP:0px">&nbsp;</p></td> <td width=313 style=MARGIN-TOP:0px valign=top> <p style="PADDING-BOTTOM:0px; MARGIN:0px; PADDING-LEFT:0px; PADDING-RIGHT:0px; FONT-SIZE:12pt; PADDING-TOP:0px">&nbsp;</p></td></tr> <tr> <td style=MARGIN-TOP:0px valign=top> <p style="PADDING-BOTTOM:0px; MARGIN:0px; PADDING-LEFT:0px; PADDING-RIGHT:0px; FONT-SIZE:12pt; PADDING-TOP:0px">&nbsp;</p></td> <td width=36 style=MARGIN-TOP:0px valign=top> <p style="MARGIN:0px; FONT-SIZE:12pt">By:</p></td> <td width=313 style="BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px" valign=top> <p style="MARGIN:0px; FONT-SIZE:12pt">/s/ Shekhar Wadekar</p></td></tr> <tr> <td style=MARGIN-TOP:0px valign=top> <p style="PADDING-BOTTOM:0px; MARGIN:0px; PADDING-LEFT:0px; PADDING-RIGHT:0px; FONT-SIZE:12pt; PADDING-TOP:0px">&nbsp;</p></td> <td width=36 style=MARGIN-TOP:0px valign=top> <p style="PADDING-BOTTOM:0px; MARGIN:0px; PADDING-LEFT:0px; PADDING-RIGHT:0px; FONT-SIZE:12pt; PADDING-TOP:0px">&nbsp;</p></td> <td width=313 style=MARGIN-TOP:0px valign=top> <p style="MARGIN:0px; FONT-SIZE:12pt">Chief Executive Officer</p></td></tr></table> <p style=MARGIN:0px><br></p> <p style="MARGIN:0px; FONT-SIZE:12pt">Date: &nbsp;September 11, 2012</p> <p style=MARGIN:0px><br></p> <p style="MARGIN:0px; FONT-SIZE:12pt" align=center>- 4 -</p> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px align=center><br><br></p> <p style="PAGE-BREAK-BEFORE:always; MARGIN:0px" align=center><br></p> <p style="MARGIN:0px; FONT-SIZE:12pt" align=center>Exhibit Index</p> <p style=MARGIN:0px align=center><br></p> <table width=100% style="MARGIN-TOP:0px; FONT-SIZE:10pt" cellpadding=0 cellspacing=0> <tr style=FONT-SIZE:0px> <td width=48> <td> <td width=94> <td width=58> <td width=64> <td width=74 /> </tr><tr> <td width=48 style="BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px" valign=bottom> <p style=MARGIN:0px align=center>Exhibit</p> <p style=MARGIN:0px align=center>No.</p></td> <td style="BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px" valign=bottom><p style=MARGIN:0px align=center>Description</p></td> <td width=94 style="BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px"> <p style=MARGIN:0px align=center>Filed with this</p> <p style=MARGIN:0px align=center>Current Report</p></td> <td width=198 colspan=3 style="BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px" valign=bottom> <p style=MARGIN:0px align=center>Incorporated by reference</p></td></tr> <tr> <td width=48 style="BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px"> <p style="PADDING-BOTTOM:0px; MARGIN:0px; PADDING-LEFT:0px; PADDING-RIGHT:0px; PADDING-TOP:0px">&nbsp;</p></td> <td style="BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px"> <p style="PADDING-BOTTOM:0px; MARGIN:0px; PADDING-LEFT:0px; PADDING-RIGHT:0px; PADDING-TOP:0px">&nbsp;</p></td> <td width=94 style="BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px"> <p style="PADDING-BOTTOM:0px; MARGIN:0px; PADDING-LEFT:0px; PADDING-RIGHT:0px; PADDING-TOP:0px">&nbsp;</p></td> <td width=58 style="BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px" valign=top> <p style=MARGIN:0px align=center>Form</p></td> <td width=64 style="BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px"> <p style=MARGIN:0px align=center>Filing Date</p></td> <td width=74 style="BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px"> <p style=MARGIN:0px align=center>Exhibit No.</p></td></tr> <tr> <td width=48 style="BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px" valign=top> <p style=MARGIN:0px>4.1</p></td> <td style="BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px" valign=top> <p style=MARGIN:0px>Series F Convertible Preferred Stock Certificate of Designation &nbsp;filed with the Secretary of State of Delaware on September 7, 2012</p></td> <td width=94 style="BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px" valign=top> <p style=MARGIN:0px align=center>x</p></td> <td width=58 style="BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px" valign=top> <p style="PADDING-BOTTOM:0px; MARGIN:0px; PADDING-LEFT:0px; PADDING-RIGHT:0px; PADDING-TOP:0px">&nbsp;</p></td> <td width=64 style="BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px" valign=top> <p style="PADDING-BOTTOM:0px; MARGIN:0px; PADDING-LEFT:0px; PADDING-RIGHT:0px; PADDING-TOP:0px">&nbsp;</p></td> <td width=74 style="BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px" valign=top> <p style="PADDING-BOTTOM:0px; MARGIN:0px; PADDING-LEFT:0px; PADDING-RIGHT:0px; PADDING-TOP:0px">&nbsp;</p></td></tr> <tr> <td width=48 style="BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px" valign=top> <p style=MARGIN:0px>10.1</p></td> <td style="BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px" valign=top> <p style=MARGIN:0px>Securities Purchase Agreement, dated as of September 10, 2012, by and between AccelPath, Inc. and list of investors set forth therein</p></td> <td width=94 style="BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px" valign=top> <p style=MARGIN:0px align=center>x</p></td> <td width=58 style="BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px" valign=top> <p style="PADDING-BOTTOM:0px; MARGIN:0px; PADDING-LEFT:0px; PADDING-RIGHT:0px; PADDING-TOP:0px">&nbsp;</p></td> <td width=64 style="BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px" valign=top> <p style="PADDING-BOTTOM:0px; MARGIN:0px; PADDING-LEFT:0px; PADDING-RIGHT:0px; PADDING-TOP:0px">&nbsp;</p></td> <td width=74 style="BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px" valign=top> <p style="PADDING-BOTTOM:0px; MARGIN:0px; PADDING-LEFT:0px; PADDING-RIGHT:0px; PADDING-TOP:0px">&nbsp;</p></td></tr></table> <p style=MARGIN:0px><br></p> <p style="MARGIN:0px; FONT-SIZE:12pt" align=center>- 5 -</p> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px><br><br></p></div></body>
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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):   September 7, 2012
ACCELPATH, INC.
(Exact Name of Registrant as Specified in Charter)
Delaware
000-27023
45-5151193
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(IRS Employer
Identification Number)
352A Christopher Avenue, Gaithersburg, MD 20879
(Address of principal executive offices) (Zip Code)
352A Christopher Avenue, Gaithersburg, MD 20879
(Mailing Address)
(301) 767-2810
(Registrant's telephone number, including area code)
N/A
(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 (see General Instruction A.2. below).
¨
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.
Item 3.02 Unregistered Sales of Equity Securities.
Item 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.
On September 7, 2012, AccelPath, Inc. ("AccelPath" or the "Company") filed the Series F Convertible Preferred Stock Certificate of Designation with the Secretary of State of Delaware (the "Certificate of Designation") authorizing 100 shares of AccelPath's Series F Convertible Preferred Stock, with a stated value of $1,000 (the "Series F Preferred") and to establish the rights, preferences, privileges and obligations thereof.
As set forth in the Certificate of Designation, the Series F Preferred is convertible into AccelPath common stock at any time at the option of the holder thereof.  The number of shares of AccelPath common stock into which one share of Series F Preferred is convertible is determined by (i) dividing $1,000 (the stated value) outstanding by the closing bid price on the trading day immediately prior to the date of the conversion notice (the "Conversion Price"), and (ii) multiplying by ten; provided that if the closing bid price on such trading day is less than $0.02 per share, then the Conversion Price shall be $0.02.  Accordingly, the 100 shares of Series F Preferred authorized under the Certificate of Designation at a Conversion Price of $0.02 are currently convertible into 50,000,000 shares of AccelPath common stock.
The foregoing summary does not purport to be a complete and is qualified in its entirety by reference to the full text of the Certificate of Designation, a copy of which is filed as
Exhibit 4.1
to this Current Report on Form 8-K and is incorporated herein by reference.
Issuance of Shares of Series F Convertible Preferred Stock
On September 10, 2012, AccelPath issued 90 shares (the "Shares") of its Series F Preferred Stock for the purchase price of $90,000 to certain existing investors of AccelPath listed on Exhibit 10.1  pursuant to a Securities Purchase Agreement (the "Securities Purchase Agreement") dated September 10, 2012, by and between AccelPath and those investors.
As set forth in the Certificate of Designation, the Series F Preferred is convertible into shares of AccelPath common stock at any time at the option of the holder thereof.  Pursuant to the conversion formula set forth above, the 90 shares of Series F Preferred issuable to the investors are currently convertible into 45,000,000 shares of AccelPath common stock.
The issuance and sale of the Shares was not be registered under the Securities Act of 1933, and was made in reliance upon the exemptions from the registration requirements of the Securities Act set forth in Section 4(2) thereof.
The foregoing summary does not purport to be complete and is qualified in its entirety by reference to the full text of the Securities Purchase Agreement, a copy of which is filed as
Exhibit 10.1
to this Current Report on Form 8-K, which is incorporated herein by reference.
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Item 9.01.  Financial Statements and Exhibits.
(d)
Exhibits
.
Exhibit
No.
Description
Filed with this
Current Report
Incorporated by reference
Form
Filing Date
Exhibit No.
4.1
Series F Convertible Preferred Stock Certificate of Designation  filed with the Secretary of State of Delaware on September 7, 2012
x
10.1
Securities Purchase Agreement, dated as of September 10, 2012, by and between AccelPath, Inc. and list of investors set forth therein
x
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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 thereunto duly authorized.
ACCELPATH, INC.
By:
/s/ Shekhar Wadekar
Chief Executive Officer
Date:  September 11, 2012
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Exhibit Index
Exhibit
No.
Description
Filed with this
Current Report
Incorporated by reference
Form
Filing Date
Exhibit No.
4.1
Series F Convertible Preferred Stock Certificate of Designation  filed with the Secretary of State of Delaware on September 7, 2012
x
10.1
Securities Purchase Agreement, dated as of September 10, 2012, by and between AccelPath, Inc. and list of investors set forth therein
x
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