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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>UNITED
      STATES</strong></font></div>
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      AND EXCHANGE COMMISSION</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>WASHINGTON,
      D.C. 20549</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>FORM
      8-K</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>CURRENT
      REPORT</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Pursuant
      to Section 13 or 15(d) of the Securities Exchange Act 1934</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date
      of
      Report (date of earliest event reported): September 8, 2006</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Advanced
      Medical Institute Inc.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Exact
      name of registrant as specified in charter)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Nevada</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(State
      or
      other jurisdiction of incorporation) </font></div>
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                File Number) </font></div>
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                Employer Identification No.) </font></div>
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      1, 204-218 Botany Road</strong></font></div>
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      NSW 2015</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Australia</strong></font></div>
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      of principal executive offices and zip code)</font></div>
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      2 9640 5253</strong></font></div>
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      telephone number including area code)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Check
      the
      appropriate box below if the Form 8-K filing is intended to simultaneously
      satisfy the filing obligation of registrant under any of the following
      provisions:</font></div>
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      Written communications
      pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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      Soliciting material pursuant to Rule
      14a-12(b) under the Exchange Act (17 CFR 240.14a-12(b)) </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="FONT-FAMILY: Wingdings">o</font>
      Pre-commencement communications pursuant
      to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="FONT-FAMILY: Wingdings">o</font>
      Pre-commencement communications pursuant
      to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><br>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong><u>Safe
      Harbor Statement under the Private Securities Litigation Reform Act of
      1995</u></strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Information
      included in this Form 8-K may contain forward-looking statements within the
      meaning of Section 27A of the Securities Act and Section 21E of the Securities
      Exchange Act of 1934, as amended (the &#8220;Exchange Act&#8221;). This information may
      involve known and unknown risks, uncertainties and other factors which may
      cause
      the actual results, performance or achievements of Advanced Medical Institute
      Inc. (the &#8220;Company&#8221;) to be materially different from future results, performance
      or achievements expressed or implied by any forward-looking statements.
      Forward-looking statements, which involve assumptions and describe the Company&#8217;s
      future plans, strategies and expectations, are generally identifiable by use
      of
      the words &#8220;may,&#8221; &#8220;will,&#8221; &#8220;should,&#8221; &#8220;expect,&#8221; &#8220;anticipate,&#8221; &#8220;estimate,&#8221;
&#8220;believe,&#8221; &#8220;intend&#8221; or &#8220;project&#8221; or the negative of these words or other
      variations on these words or comparable terminology. These forward-looking
      statements are based on assumptions that may be incorrect, and there can be
      no
      assurance that these projections included in these forward-looking statements
      will come to pass. The Company&#8217;s actual results could differ materially from
      those expressed or implied by the forward-looking statements as a result of
      various factors. Except as required by applicable laws, the Company undertakes
      no obligation to update publicly any forward-looking statements for any reason,
      even if new information becomes available or other events occur in the
      future.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
      1.01 </strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Entry
      into a Material Definitive Agreement.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
      September 8, 2006, Advanced Medical Institute Inc. (the &#8220;Registrant&#8221;) entered
      into a Share Exchange Agreement (the &#8220;Exchange Agreement&#8221;) with Worldwide PE
      Patent Holdco Pty Limited (ACN 117 157 727), a privately owned Australian
      company (&#8220;Worldwide PE&#8221;), and Worldwide PE&#8217;s shareholders (the &#8220;Shareholders&#8221;),
      pursuant to which, upon closing, on September 11, 2006, &#160;the Registrant
      acquired all of the issued and outstanding shares of stock of Worldwide PE
      in
      exchange for the payment of A$3 million (approximately US$2.5 million) and
      the
      issuance in the aggregate of 16,125,000 of the Registrant&#8217;s shares of common
      stock valued for this purpose at $1.00 per share (the &#8220;Shares&#8221;) to the
      Shareholders pursuant to Regulation S of the Securities Act of 1933, as amended.
      The Registrant then transferred the shares of Worldwide PE to its wholly owned
      subsidiary, AMI Australia Holdings Pty Limited (&#8220;AMI Australia&#8221;). As a result,
      Worldwide PE became an indirect wholly-owned subsidiary of the Registrant.
      A
      copy of the Exchange Agreement is filed as Exhibit 10.1 hereto.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      cash
      component of the purchase price is being funded by two secured three year term
      loans in the aggregate principal amount of A$3 million to AMI Australia by
      ANZ
      Nominees Limited in its capacity as custodian of the Professional Pensions
      PST.
      The loan is to be secured by a security interest in all of AMI Australia Holding
      Pty Limited&#8217;s assets and undertakings (including its existing equity interests
      in PE Patent Holdco Pty Limited, Intelligent Medical Technologies Pty Limited,
      Advanced Medical Institute (NZ) Limited and Whygo Video Conferencing Pty
      Limited) and accrues interest at an annual coupon of 450 basis points above
      the
      then Australian Reserve Bank&#8217;s current cash rate (being an aggregate current
      interest rate of 10.5% as at the date of the agreement). Copies of the two
      loan
      agreements and the two fixed and floating charge (security) agreements (the
      &#8220;Loan Documents&#8221;) have been filed as Exhibits 10.2, 10.3, 10.4 and 10.5
      hereto.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">As
      a
      result of acquiring Worldwide PE, along with its previous acquisition of rights
      to use the same intellectual property in Australia when it acquired PE Patent
      Holdco Pty Limited in November 2005, the Registrant and its subsidiaries,
      acquire the right to use, worldwide, the patent applications and the associated
      pharmaceutical formulations, treatment methodologies and dosing manuals that
      have been used in the Australian business. The Registrant has commenced business
      in China on September 4, 2006 and anticipates the ability to commence business
      in Japan by late 2006. The Registrant is also actively exploring further
      international expansion opportunities at the present time. Management believes
      that the acquisition of Worldwide PE and its associated intellectual property
      was essential for the Registrant to be able to provide its premature ejaculation
      treatment programs outside Australia.</font></div><br>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Worldwide
      PE owns certain intellectual property consisting solely of a worldwide PCT
      patent application (Patent No PCT/AU2004/000931 (WO 2005/004855 A1)) filed
      with
      IP Australia, the subsequent individual country applications filed in the United
      States, the European Union, Japan, the People&#8217;s Republic of China, India and New
      Zealand made based on that PCT patent application and the worldwide (excluding
      Australia) formulation rights for its premature ejaculation programs
      (collectively, the &#8220;Territory&#8221;). Assuming grant of a patent is obtained, the
      patents will expire on July 9, 2024. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      development of the intellectual property underlying the patent applications
      was
      originally undertaken and funded by Dr. Vaisman. The patent applications, titled
      &#8220;Treatment of Premature Ejaculation&#8221; relates to various methods of treatment
      delivery via nasal (mucosal) inhalation and topical application of certain
      formulations which are used in AMI Australia's treatment programs for premature
      ejaculation. The patent applications and associated formulations are integral
      to
      the expansion of AMI Australia&#8217;s premature ejaculation treatment programs in
      markets other than Australia. AMI Australia's injection, lozenge and tablet
      impotence and erectile dysfunction treatment programs are not patent protected.
      </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      patent applications were made by Dr. Jack Vaisman, the Chief Executive Officer,
      President and Chairman of the Board of Directors of the Company and the Founder,
      President and Chief Executive Officer of AMI Australia, on July 11, 2003. Dr
      Vaisman assigned the patent applications to Worldwide PE in exchange for
      1,000,000 shares of Worldwide PE on November 17, 2005 at which time Dr. Vaisman
      granted Avina Investments Limited an option to acquire his shareholding in
      Worldwide PE for A$1.5 million, which option was exercised on July 4,
      2006.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      patent applications relate to various methods of treatment delivery via nasal
      (mucosal) inhalation and topical application of certain pharmaceutical
      formulations which are used in AMI Australia&#8217;s treatment programs for premature
      ejaculation. These formulations have previously been used to treat premature
      ejaculation and other medical conditions. Acquisition of the patent applications
      will give the Registrant and its subsidiaries the ability to exploit the patent
      applications and associated technology in connection with the provision of
      premature ejaculation treatment programs in the Territory during the term of
      the
      patents and will obviate any future obligation for the Registrant or any of
      its
      subsidiaries to pay royalties to a third party for use of the
      patents.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Until
      May
      5, 2006, Dr. Vaisman had served as the sole director of Worldwide PE when he
      resigned and Igor Chalik was appointed as director in his place.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Nether
      Dr. Vaisman, nor any other director or officer of the Registrant, AMI Australia
      or any of the Registrant&#8217;s subsidiaries (other than in their capacities with the
      Registrant) has or will benefit directly or indirectly from the Registrant&#8217;s
      purchase of Worldwide PE except as stated above. Worldwide PE's assets include
      the patent applications and the right to use and/or license/sub-license the
      associated pharmaceutical formulations, treatment methodologies and dosing
      manuals in the Territory. </font></div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">3</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Entities
      controlled by Mr. Richard Doyle, the principal of Doyle Corporate Pty Limited,
      a
      senior consultant to the Company, received an aggregate of A$1,500,000 and
      11,000,000 of the Registrant&#8217;s shares of common stock from the transaction in
      exchange for shares held in Worldwide PE</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">AMI
      Australia commissioned PKF Corporate Advisers Pty Limited ("PKF") to perform
      an
      independent valuation of the Patents in connection with the proposed acquisition
      of PE and the Board of Directors of the Registrant has determined that the
      aggregate acquisition price of A$24.05 million (USD$18.425 million) represents
      a
      4.6% premium to the midpoint of the independent valuation provided by
      PKF.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      description of the transactions contemplated by the Exchange Agreement and
      the
      Loan Documents set forth herein does not purport to be complete and is qualified
      in its entirety by reference to the full text of each of the exhibits filed
      herewith and incorporated by this reference.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      information in this Report, including the exhibit, shall not be deemed to be
      &#8220;filed&#8221; for the purposes of Section 18 of the Securities Exchange Act of 1934,
      as amended, or otherwise subject to the liabilities of that Section. It shall
      not be deemed incorporated by reference in any filing under the Securities
      Act
      of 1933, as amended, except as shall be expressly set forth by specific
      reference in such a filing.</font></div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">4</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
      9.01</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Financial
      Statements and Exhibits.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(b)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pro
      forma
      financial statements will be provided by amendment to this 8-K not later than
      74
      calendar days after the date of this initial report.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(c)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Exhibits</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td width="6%">&#160;</td>
            <td align="left" valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Exhibit
                No.</font></div>
            </td>
            <td align="left" valign="top" width="82%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Description</font></div>
            </td>
          </tr>
          <tr>
            <td width="6%">&#160;</td>
            <td align="left" valign="top" width="12%">&#160;</td>
            <td align="left" valign="top" width="82%">&#160;</td>
          </tr>
          <tr>
            <td width="6%">&#160;</td>
            <td align="left" valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">10.1</font></div>
            </td>
            <td align="left" valign="top" width="82%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Share
                Exchange Agreement dated as of September 8, 2006.</font></div>
            </td>
          </tr>
          <tr>
            <td width="6%">&#160;</td>
            <td align="left" valign="top" width="12%">&#160;</td>
            <td align="left" valign="top" width="82%">&#160;</td>
          </tr>
          <tr>
            <td width="6%">&#160;</td>
            <td align="left" valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">10.2</font></div>
            </td>
            <td align="left" valign="top" width="82%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Loan
                Agreement between AMI Australia and ANZ Nominees Limited as Custodian
                for
                the Professional Pension PST - Super dated September 8,
                2006.</font></div>
            </td>
          </tr>
          <tr>
            <td width="6%">&#160;</td>
            <td align="left" valign="top" width="12%">&#160;</td>
            <td align="left" valign="top" width="82%">&#160;</td>
          </tr>
          <tr>
            <td width="6%">&#160;</td>
            <td align="left" valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">10.3</font></div>
            </td>
            <td align="left" valign="top" width="82%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Loan
                Agreement between AMI Australia and ANZ Nominees Limited as Custodian
                for
                the Professional Pension PST - Pension dated September 8,
                2006.</font></div>
            </td>
          </tr>
          <tr>
            <td width="6%">&#160;</td>
            <td align="left" valign="top" width="12%">&#160;</td>
            <td align="left" valign="top" width="82%">&#160;</td>
          </tr>
          <tr>
            <td width="6%">&#160;</td>
            <td align="left" valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">10.4</font></div>
            </td>
            <td align="left" valign="top" width="82%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Fixed
                and Floating Charge Agreement between AMI Australia and ANZ Nominees
                Limited as Custodian for the Professional Pension PST - Super dated
                September 8, 2006.</font></div>
            </td>
          </tr>
          <tr>
            <td width="6%">&#160;</td>
            <td align="left" valign="top" width="12%">&#160;</td>
            <td align="left" valign="top" width="82%">&#160;</td>
          </tr>
          <tr>
            <td width="6%">&#160;</td>
            <td align="left" valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">10.5</font></div>
            </td>
            <td align="left" valign="top" width="82%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Fixed
                and Floating Charge Agreement between AMI Australia and ANZ Nominees
                Limited as Custodian for the Professional Pension PST - Pension dated
                September 8, 2006.</font></div>
            </td>
          </tr>
          <tr>
            <td width="6%">&#160;</td>
            <td align="left" valign="top" width="12%">&#160;</td>
            <td align="left" valign="top" width="82%">&#160;</td>
          </tr>
          <tr>
            <td width="6%">&#160;</td>
            <td align="left" valign="top" width="12%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">99.1</font></div>
            </td>
            <td align="left" valign="top" width="82%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Press
                Release dated September 11,
                2006.</font></div>
            </td>
          </tr>

      </table>
    </div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">5</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>SIGNATURES</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">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.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div align="left">
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="left" valign="top" width="40%">&#160;</td>
            <td align="left" valign="top" width="40%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ADVANCED
                MEDICAL INSTITUTE INC.</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="40%">&#160;</td>
            <td align="left" valign="top" width="40%">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="top" width="40%">&#160;</td>
            <td align="left" valign="top" width="40%">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="top" width="40%">&#160;</td>
            <td align="left" valign="top" width="40%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">By:
                <u>/s/ Dilip
                Shrestha&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
                </u></font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="40%">&#160;</td>
            <td align="left" valign="top" width="40%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Name:
                Dilip Shrestha</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="40%">&#160;</td>
            <td align="left" valign="top" width="40%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Title:&#160;&#160;
                Chief Financial Officer</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Dated:
      September 11, 2006</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">6</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">EXHIBIT
      INDEX</font></div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%">

            <tr>
              <td width="6%">&#160;</td>
              <td align="left" valign="top" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Exhibit
                  No.</font></div>
              </td>
              <td align="left" valign="top" width="82%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Description</font></div>
              </td>
            </tr>
            <tr>
              <td width="6%">&#160;</td>
              <td align="left" valign="top" width="12%">&#160;</td>
              <td align="left" valign="top" width="82%">&#160;</td>
            </tr>
            <tr>
              <td width="6%">&#160;</td>
              <td align="left" valign="top" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">10.1</font></div>
              </td>
              <td align="left" valign="top" width="82%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Share
                  Exchange Agreement dated as of September 8, 2006.</font></div>
              </td>
            </tr>
            <tr>
              <td width="6%">&#160;</td>
              <td align="left" valign="top" width="12%">&#160;</td>
              <td align="left" valign="top" width="82%">&#160;</td>
            </tr>
            <tr>
              <td width="6%">&#160;</td>
              <td align="left" valign="top" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">10.2</font></div>
              </td>
              <td align="left" valign="top" width="82%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Loan
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                  for
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              </td>
            </tr>
            <tr>
              <td width="6%">&#160;</td>
              <td align="left" valign="top" width="12%">&#160;</td>
              <td align="left" valign="top" width="82%">&#160;</td>
            </tr>
            <tr>
              <td width="6%">&#160;</td>
              <td align="left" valign="top" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">10.3</font></div>
              </td>
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                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Loan
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              </td>
            </tr>
            <tr>
              <td width="6%">&#160;</td>
              <td align="left" valign="top" width="12%">&#160;</td>
              <td align="left" valign="top" width="82%">&#160;</td>
            </tr>
            <tr>
              <td width="6%">&#160;</td>
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              </td>
              <td align="left" valign="top" width="82%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Fixed
                  and Floating Charge Agreement between AMI Australia and ANZ Nominees
                  Limited as Custodian for the Professional Pension PST - Super dated
                  September 8, 2006.</font></div>
              </td>
            </tr>
            <tr>
              <td width="6%">&#160;</td>
              <td align="left" valign="top" width="12%">&#160;</td>
              <td align="left" valign="top" width="82%">&#160;</td>
            </tr>
            <tr>
              <td width="6%">&#160;</td>
              <td align="left" valign="top" width="12%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">10.5</font></div>
              </td>
              <td align="left" valign="top" width="82%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Fixed
                  and Floating Charge Agreement between AMI Australia and ANZ Nominees
                  Limited as Custodian for the Professional Pension PST - Pension
                  dated
                  September 8, 2006.</font></div>
              </td>
            </tr>
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              <td align="left" valign="top" width="82%">
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                  Release dated September 11,
                  2006.</font></div>
              </td>
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{"company-data": {"conformed-name": "ADVANCED MEDICAL INSTITUTE INC.", "cik": "0001096620", "assigned-sic": "8090", "irs-number": "880409144", "state-of-incorporation": "NV", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-29531", "film-number": "061083753"}, "business-address": {"street1": "C/O ADVANCED MEDICAL INSTITUTE INC.", "street2": "LEVEL 1 204-218 BOTANY ROAD", "city": "ALEXANDRIA", "state": "C3", "zip": "NSW 2015", "phone": "61 2 9640 5253"}, "mail-address": {"street1": "C/O ADVANCED MEDICAL INSTITUTE INC.", "street2": "LEVEL 1 204-218 BOTANY ROAD", "city": "ALEXANDRIA", "state": "C3", "zip": "NSW 2015"}, "former-company": {"former-conformed-name": "HAWKSDALE FINANCIAL VISIONS INC", "date-changed": "19991012"}}
Unassociated Document
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 1934
Date
      of
      Report (date of earliest event reported): September 8, 2006
Advanced
      Medical Institute Inc.
(Exact
      name of registrant as specified in charter)
Nevada
(State
      or
      other jurisdiction of incorporation)
000-29531
88-0409144
(Commission
                File Number)
(IRS
                Employer Identification No.)
Level
      1, 204-218 Botany Road
Alexandria
      NSW 2015
Australia
(Address
      of principal executive offices and zip code)
(61)
      2 9640 5253
(Registrant's
      telephone number including area code)
Check
      the
      appropriate box below if the Form 8-K filing is intended to simultaneously
      satisfy the filing obligation of registrant under any of the following
      provisions:
o
Written communications
      pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o
Soliciting material pursuant to Rule
      14a-12(b) under the Exchange Act (17 CFR 240.14a-12(b))
o
Pre-commencement communications pursuant
      to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant
      to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Safe
      Harbor Statement under the Private Securities Litigation Reform Act of
      1995
Information
      included in this Form 8-K may contain forward-looking statements within the
      meaning of Section 27A of the Securities Act and Section 21E of the Securities
      Exchange Act of 1934, as amended (the "Exchange Act"). This information may
      involve known and unknown risks, uncertainties and other factors which may
      cause
      the actual results, performance or achievements of Advanced Medical Institute
      Inc. (the "Company") to be materially different from future results, performance
      or achievements expressed or implied by any forward-looking statements.
      Forward-looking statements, which involve assumptions and describe the Company's
      future plans, strategies and expectations, are generally identifiable by use
      of
      the words "may," "will," "should," "expect," "anticipate," "estimate,"
"believe," "intend" or "project" or the negative of these words or other
      variations on these words or comparable terminology. These forward-looking
      statements are based on assumptions that may be incorrect, and there can be
      no
      assurance that these projections included in these forward-looking statements
      will come to pass. The Company's actual results could differ materially from
      those expressed or implied by the forward-looking statements as a result of
      various factors. Except as required by applicable laws, the Company undertakes
      no obligation to update publicly any forward-looking statements for any reason,
      even if new information becomes available or other events occur in the
      future.
Item
      1.01
Entry
      into a Material Definitive Agreement.
On
      September 8, 2006, Advanced Medical Institute Inc. (the "Registrant") entered
      into a Share Exchange Agreement (the "Exchange Agreement") with Worldwide PE
      Patent Holdco Pty Limited (ACN 117 157 727), a privately owned Australian
      company ("Worldwide PE"), and Worldwide PE's shareholders (the "Shareholders"),
      pursuant to which, upon closing, on September 11, 2006,  the Registrant
      acquired all of the issued and outstanding shares of stock of Worldwide PE
      in
      exchange for the payment of A$3 million (approximately US$2.5 million) and
      the
      issuance in the aggregate of 16,125,000 of the Registrant's shares of common
      stock valued for this purpose at $1.00 per share (the "Shares") to the
      Shareholders pursuant to Regulation S of the Securities Act of 1933, as amended.
      The Registrant then transferred the shares of Worldwide PE to its wholly owned
      subsidiary, AMI Australia Holdings Pty Limited ("AMI Australia"). As a result,
      Worldwide PE became an indirect wholly-owned subsidiary of the Registrant.
      A
      copy of the Exchange Agreement is filed as Exhibit 10.1 hereto.
The
      cash
      component of the purchase price is being funded by two secured three year term
      loans in the aggregate principal amount of A$3 million to AMI Australia by
      ANZ
      Nominees Limited in its capacity as custodian of the Professional Pensions
      PST.
      The loan is to be secured by a security interest in all of AMI Australia Holding
      Pty Limited's assets and undertakings (including its existing equity interests
      in PE Patent Holdco Pty Limited, Intelligent Medical Technologies Pty Limited,
      Advanced Medical Institute (NZ) Limited and Whygo Video Conferencing Pty
      Limited) and accrues interest at an annual coupon of 450 basis points above
      the
      then Australian Reserve Bank's current cash rate (being an aggregate current
      interest rate of 10.5% as at the date of the agreement). Copies of the two
      loan
      agreements and the two fixed and floating charge (security) agreements (the
      "Loan Documents") have been filed as Exhibits 10.2, 10.3, 10.4 and 10.5
      hereto.
As
      a
      result of acquiring Worldwide PE, along with its previous acquisition of rights
      to use the same intellectual property in Australia when it acquired PE Patent
      Holdco Pty Limited in November 2005, the Registrant and its subsidiaries,
      acquire the right to use, worldwide, the patent applications and the associated
      pharmaceutical formulations, treatment methodologies and dosing manuals that
      have been used in the Australian business. The Registrant has commenced business
      in China on September 4, 2006 and anticipates the ability to commence business
      in Japan by late 2006. The Registrant is also actively exploring further
      international expansion opportunities at the present time. Management believes
      that the acquisition of Worldwide PE and its associated intellectual property
      was essential for the Registrant to be able to provide its premature ejaculation
      treatment programs outside Australia.
2
Worldwide
      PE owns certain intellectual property consisting solely of a worldwide PCT
      patent application (Patent No PCT/AU2004/000931 (WO 2005/004855 A1)) filed
      with
      IP Australia, the subsequent individual country applications filed in the United
      States, the European Union, Japan, the People's Republic of China, India and New
      Zealand made based on that PCT patent application and the worldwide (excluding
      Australia) formulation rights for its premature ejaculation programs
      (collectively, the "Territory"). Assuming grant of a patent is obtained, the
      patents will expire on July 9, 2024.
The
      development of the intellectual property underlying the patent applications
      was
      originally undertaken and funded by Dr. Vaisman. The patent applications, titled
      "Treatment of Premature Ejaculation" relates to various methods of treatment
      delivery via nasal (mucosal) inhalation and topical application of certain
      formulations which are used in AMI Australia's treatment programs for premature
      ejaculation. The patent applications and associated formulations are integral
      to
      the expansion of AMI Australia's premature ejaculation treatment programs in
      markets other than Australia. AMI Australia's injection, lozenge and tablet
      impotence and erectile dysfunction treatment programs are not patent protected.
The
      patent applications were made by Dr. Jack Vaisman, the Chief Executive Officer,
      President and Chairman of the Board of Directors of the Company and the Founder,
      President and Chief Executive Officer of AMI Australia, on July 11, 2003. Dr
      Vaisman assigned the patent applications to Worldwide PE in exchange for
      1,000,000 shares of Worldwide PE on November 17, 2005 at which time Dr. Vaisman
      granted Avina Investments Limited an option to acquire his shareholding in
      Worldwide PE for A$1.5 million, which option was exercised on July 4,
      2006.
The
      patent applications relate to various methods of treatment delivery via nasal
      (mucosal) inhalation and topical application of certain pharmaceutical
      formulations which are used in AMI Australia's treatment programs for premature
      ejaculation. These formulations have previously been used to treat premature
      ejaculation and other medical conditions. Acquisition of the patent applications
      will give the Registrant and its subsidiaries the ability to exploit the patent
      applications and associated technology in connection with the provision of
      premature ejaculation treatment programs in the Territory during the term of
      the
      patents and will obviate any future obligation for the Registrant or any of
      its
      subsidiaries to pay royalties to a third party for use of the
      patents.
Until
      May
      5, 2006, Dr. Vaisman had served as the sole director of Worldwide PE when he
      resigned and Igor Chalik was appointed as director in his place.
Nether
      Dr. Vaisman, nor any other director or officer of the Registrant, AMI Australia
      or any of the Registrant's subsidiaries (other than in their capacities with the
      Registrant) has or will benefit directly or indirectly from the Registrant's
      purchase of Worldwide PE except as stated above. Worldwide PE's assets include
      the patent applications and the right to use and/or license/sub-license the
      associated pharmaceutical formulations, treatment methodologies and dosing
      manuals in the Territory.
3
Entities
      controlled by Mr. Richard Doyle, the principal of Doyle Corporate Pty Limited,
      a
      senior consultant to the Company, received an aggregate of A$1,500,000 and
      11,000,000 of the Registrant's shares of common stock from the transaction in
      exchange for shares held in Worldwide PE
AMI
      Australia commissioned PKF Corporate Advisers Pty Limited ("PKF") to perform
      an
      independent valuation of the Patents in connection with the proposed acquisition
      of PE and the Board of Directors of the Registrant has determined that the
      aggregate acquisition price of A$24.05 million (USD$18.425 million) represents
      a
      4.6% premium to the midpoint of the independent valuation provided by
      PKF.
The
      description of the transactions contemplated by the Exchange Agreement and
      the
      Loan Documents set forth herein does not purport to be complete and is qualified
      in its entirety by reference to the full text of each of the exhibits filed
      herewith and incorporated by this reference.
The
      information in this Report, including the exhibit, shall not be deemed to be
      "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934,
      as amended, or otherwise subject to the liabilities of that Section. It shall
      not be deemed incorporated by reference in any filing under the Securities
      Act
      of 1933, as amended, except as shall be expressly set forth by specific
      reference in such a filing.
4
Item
      9.01
Financial
      Statements and Exhibits.
(b)
Pro
      forma
      financial statements will be provided by amendment to this 8-K not later than
      74
      calendar days after the date of this initial report.
(c)
Exhibits
.
Exhibit
                No.
Description
10.1
Share
                Exchange Agreement dated as of September 8, 2006.
10.2
Loan
                Agreement between AMI Australia and ANZ Nominees Limited as Custodian
                for
                the Professional Pension PST - Super dated September 8,
                2006.
10.3
Loan
                Agreement between AMI Australia and ANZ Nominees Limited as Custodian
                for
                the Professional Pension PST - Pension dated September 8,
                2006.
10.4
Fixed
                and Floating Charge Agreement between AMI Australia and ANZ Nominees
                Limited as Custodian for the Professional Pension PST - Super dated
                September 8, 2006.
10.5
Fixed
                and Floating Charge Agreement between AMI Australia and ANZ Nominees
                Limited as Custodian for the Professional Pension PST - Pension dated
                September 8, 2006.
99.1
Press
                Release dated September 11,
                2006.
5
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 hereunto
      duly authorized.
ADVANCED
                MEDICAL INSTITUTE INC.
By:
/s/ Dilip
                Shrestha
Name:
                Dilip Shrestha
Title:  
                Chief Financial Officer
Dated:
      September 11, 2006
6
EXHIBIT
      INDEX
Exhibit
                  No.
Description
10.1
Share
                  Exchange Agreement dated as of September 8, 2006.
10.2
Loan
                  Agreement between AMI Australia and ANZ Nominees Limited as Custodian
                  for
                  the Professional Pension PST - Super dated September 8,
                  2006.
10.3
Loan
                  Agreement between AMI Australia and ANZ Nominees Limited as Custodian
                  for
                  the Professional Pension PST - Pension dated September 8,
                  2006.
10.4
Fixed
                  and Floating Charge Agreement between AMI Australia and ANZ Nominees
                  Limited as Custodian for the Professional Pension PST - Super dated
                  September 8, 2006.
10.5
Fixed
                  and Floating Charge Agreement between AMI Australia and ANZ Nominees
                  Limited as Custodian for the Professional Pension PST - Pension
                  dated
                  September 8, 2006.
99.1
Press
                  Release dated September 11,
                  2006.
7