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As filed with the Securities and Exchange Commission on September
26, 2019</font></div>
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Registration No. 333-____</font></div>
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UNITED STATES</font></div>
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<font style="color: #000000; font-weight: bold; font-family: Times New Roman; font-size: 16px">
SECURITIES AND EXCHANGE COMMISSION</font></div>
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<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
WASHINGTON, D.C. 20549</font></div>
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_____________________________</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
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REGISTRATION STATEMENT</font></div>
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UNDER THE</font></div>
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SECURITIES ACT OF 1933</font></div>
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_____________________________</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
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<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 16px">
Dynatronics Corporation</font></div>
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<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
(</font><font style="font-style: italic; color: #000000">Exact name
of registrant as specified in its charter)</font></font></div>
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<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
Utah</font></div>
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<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
87-0398434</font></div>
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<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
(State or other jurisdiction</font></div>
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<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
of incorporation or organization)</font></div>
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<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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(I.R.S. Employer</font></div>
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<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Identification No.)</font></div>
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<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
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<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
7030 Park Centre Drive</font></div>
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<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
Cottonwood Heights, UT</font></div>
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<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
84121</font></div>
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<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
(Address of Principal Executive Offices)</font></div>
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(Zip Code)</font></div>
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&#xA0;</font></div>
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<font style="color: #000000; font-weight: bold; font-family: Times New Roman; font-size: 13px">
Dynatronics Corporation 2018 Equity Incentive Plan</font></div>
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<font style="font-style: italic; color: #000000; font-family: Times New Roman; font-size: 13px">
(Full title of the plan)</font></div>
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______________________________________________________________________________</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;<br></font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
Brian Baker</font></div>
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<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
Chief Executive Officer</font></div>
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<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
7030 Park Centre Drive</font></div>
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<font style="color: #000000; font-weight: bold; font-family: Times New Roman; font-size: 13px">
Cottonwood Heights, Utah 84121</font></div>
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<font style="color: #000000; font-weight: bold; font-family: Times New Roman; font-size: 13px">
(801) 568-7000</font></div>
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<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
(</font><font style="font-style: italic; color: #000000">Name,
address and telephone number, including area code, of agent for
service</font><font style="color: #000000">)</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
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Copies to:</font></div>
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<font style="color: #000000; font-weight: bold; font-family: Times New Roman; font-size: 13px">
Kevin R. Pinegar, Esq.</font></div>
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<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
Wayne D. Swan, Esq.</font></div>
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<font style="color: #000000; font-weight: bold; font-family: Times New Roman; font-size: 13px">
Durham Jones &amp; Pinegar, P.C.</font></div>
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<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
111 South Main Street, Suite 2400</font></div>
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<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
Salt Lake City, Utah 84111</font></div>
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<font style="color: #000000; font-weight: bold; font-family: Times New Roman; font-size: 13px">
(801) 415-3000</font></div>
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<font style="color: #000000; font-weight: bold; font-family: Times New Roman; font-size: 13px">
Facsimile: (801) 415-3500</font></div>
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<font style="color: #000000; font-weight: bold; font-family: Times New Roman; font-size: 13px">
_____________________________________________</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 12px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">Indicate
by check mark whether the registrant is a large accelerated filer,
an accelerated filer, a non-accelerated filer, a smaller reporting
company or an emerging growth company. See definitions of
&#x201C;large accelerated filer,&#x201D; &#x201C;accelerated
filer,&#x201D; &#x201C;smaller reporting company,&#x201D; and
&#x201C;emerging growth company&#x201D; in Rule 12b-2 of the Exchange
Act.</font></div>
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<div style="text-align: left; margin-left: 12px; margin-right: 0px; text-indent: 0px;">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">Large
accelerated filer &#x2610;</font></div>
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<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Accelerated filer &#x2610;</font></div>
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<td style="vertical-align: top; width: 54%">
<div style="text-align: left; margin-left: 12px; margin-right: 0px; text-indent: 0px;">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">Non-accelerated
filer &#x2610;</font></div>
</td>
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<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
Smaller reporting company</font> <font style="color: #000000; font-size: 13px">&#x2611;</font></font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Emerging growth company &#x2610;</font></div>
</td>
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</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 12px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">If
an emerging growth company, indicate by check mark if the
registrant has elected not to use the extended transition period
for complying with any new or revised financial accounting
standards provided pursuant to Section 7(a)(2)(B) of the Securities
Act. &#x2610;</font></div>
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<font style="color: #000000; font-weight: bold; font-family: Times New Roman; font-size: 13px">
CALCULATION OF REGISTRATION FEE</font></div>
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<div style="text-align: justify; text-indent:0px;margin-right:0px;padding-bottom:2px;margin-left:0px;"><font style="font-size: 11px; font-weight: bold;"><font style="font-family: Times New Roman; font-weight: bold;">&#xA0;</font></font></div>
<div style="text-align: center; text-indent:0px;margin-right:0px;padding-bottom:2px;margin-left:0px;"><font style="font-size: 11px; font-weight: bold;"><font style="color: rgb(0, 0, 0); font-family: Times New Roman; font-weight: bold;">
Title of</font></font></div>
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Securities to be Registered</font></font></div>
</div>
</font></div>
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<div><font style="font-size: 11px; font-weight: bold;"><font style="text-align: left; padding-bottom: 2px; width: 10%; vertical-align: bottom; display: inline-block; font-weight: bold;">&#xA0;</font><font style="text-align: center; vertical-align: bottom; width: 80%; border-bottom: 2px solid rgb(0, 0, 0); display: inline-block; font-weight: bold;">
<div><font style="font-family: Times New Roman; font-weight: bold;">&#xA0;</font></div>
<div><font style="font-family: Times New Roman; font-weight: bold;">&#xA0;</font></div>
<div><font style="font-family: Times New Roman; color: rgb(0, 0, 0); font-weight: bold;">
Amount to be</font></div>
<div><font style="font-family: Times New Roman; font-weight: bold;"><font style="color: rgb(0, 0, 0); font-weight: bold;">Registered</font><font style="vertical-align: top; font-size: 70%; color: rgb(0, 0, 0); font-weight: bold;">(1)</font></font></div>
</font><font style="text-align: left; padding-bottom: 2px; width: 10%; vertical-align: bottom; display: inline-block; font-weight: bold;">&#xA0;</font></font></div>
</td>
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<div><font style="font-size: 11px; font-weight: bold;"><font style="text-align: left; padding-bottom: 2px; width: 10%; vertical-align: bottom; display: inline-block; font-weight: bold;">&#xA0;</font><font style="text-align: center; vertical-align: bottom; width: 80%; border-bottom: 2px solid rgb(0, 0, 0); display: inline-block; font-weight: bold;">
<div><font style="font-family: Times New Roman; color: rgb(0, 0, 0); font-weight: bold;">
Proposed</font></div>
<div><font style="font-family: Times New Roman; color: rgb(0, 0, 0); font-weight: bold;">
Maximum</font></div>
<div><font style="font-family: Times New Roman; color: rgb(0, 0, 0); font-weight: bold;">
Offering Price</font></div>
<div><font style="font-family: Times New Roman; font-weight: bold;"><font style="color: rgb(0, 0, 0); font-weight: bold;">Per Share</font>
<font style="vertical-align: top; font-size: 70%; color: rgb(0, 0, 0); font-weight: bold;">
(2)</font></font></div>
</font><font style="text-align: left; padding-bottom: 2px; width: 10%; vertical-align: bottom; display: inline-block; font-weight: bold;">&#xA0;</font></font></div>
</td>
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<div><font style="font-size: 11px; font-weight: bold;"><font style="text-align: left; padding-bottom: 2px; width: 10%; vertical-align: bottom; display: inline-block; font-weight: bold;">&#xA0;</font><font style="text-align: center; vertical-align: bottom; width: 80%; border-bottom: 2px solid rgb(0, 0, 0); display: inline-block; font-weight: bold;">
<div><font style="font-family: Times New Roman; color: rgb(0, 0, 0); font-weight: bold;">
Proposed</font></div>
<div><font style="font-family: Times New Roman; color: rgb(0, 0, 0); font-weight: bold;">
Maximum</font></div>
<div><font style="font-family: Times New Roman; color: rgb(0, 0, 0); font-weight: bold;">
Aggregate</font></div>
<div><font style="font-family: Times New Roman; font-weight: bold;"><font style="color: rgb(0, 0, 0); font-weight: bold;">Offering Price</font>
<font style="vertical-align: top; font-size: 70%; color: rgb(0, 0, 0); font-weight: bold;">
(2)</font></font></div>
</font><font style="text-align: left; padding-bottom: 2px; width: 10%; vertical-align: bottom; display: inline-block; font-weight: bold;">&#xA0;</font></font></div>
</td>
<td rowspan="1" style="vertical-align:bottom;width:12%;">
<div><font style="font-size: 11px; font-weight: bold;"><font style="text-align: left; padding-bottom: 2px; width: 10%; vertical-align: bottom; display: inline-block; font-weight: bold;">&#xA0;</font><font style="text-align: center; vertical-align: bottom; width: 80%; border-bottom: 2px solid rgb(0, 0, 0); display: inline-block; font-weight: bold;">
<div><font style="font-family: Times New Roman; font-weight: bold;">&#xA0;</font></div>
<div><font style="font-family: Times New Roman; font-weight: bold;">&#xA0;</font></div>
<div><font style="font-family: Times New Roman; color: rgb(0, 0, 0); font-weight: bold;">
Amount of</font></div>
<div><font style="font-family: Times New Roman; color: rgb(0, 0, 0); font-weight: bold;">
Registration Fee <font style="font-size: 70%; vertical-align: top">(3)</font><br></font></div>
</font><font style="text-align: left; padding-bottom: 2px; width: 10%; vertical-align: bottom; display: inline-block; font-weight: bold;">&#xA0;</font></font></div>
</td>
</tr><tr style="background-color:#cceeff;">
<td style="vertical-align:bottom;width:52%;">
<div style="text-align: left; text-indent:0px;margin-right:0px;margin-left:0px;"><font style="color: #000000; font-family: Times New Roman; font-size: 13px">Common
Stock, par value $0.001 per share</font></div>
</td>
<td style="vertical-align:bottom;width:12%;">
<div><font style="text-align: left; color:#000000;font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:10%;font-size:13px;">&#xA0;</font><font style="text-align: left; color:#000000;font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:5%;font-size:13px;">&#xA0;</font><font style="text-align: right; color:#000000;font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:75%;font-size:13px;">841,353</font><font style="text-align: left; color:#000000;font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:10%;font-size:13px;">&#xA0;</font></div>
</td>
<td style="vertical-align:bottom;width:12%;">
<div><font style="text-align: left; color:#000000;font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:10%;font-size:13px;">&#xA0;</font><font style="text-align: left; color:#000000;font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:5%;font-size:13px;">$</font><font style="text-align: right; color:#000000;font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:75%;font-size:13px;">1.33</font><font style="text-align: left; color:#000000;font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:10%;font-size:13px;"><br></font></div>
</td>
<td style="vertical-align:bottom;width:12%;">
<div><font style="text-align: left; color:#000000;font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:10%;font-size:13px;">&#xA0;</font><font style="text-align: left; color:#000000;font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:5%;font-size:13px;">$</font><font style="text-align: right; color:#000000;font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:75%;font-size:13px;">1,093,758.00</font><font style="text-align: left; color:#000000;font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:10%;font-size:13px;">&#xA0;</font></div>
</td>
<td style="vertical-align:bottom;width:12%;">
<div><font style="text-align: left; color:#000000;font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:10%;font-size:13px;">&#xA0;</font><font style="text-align: left; color:#000000;font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:5%;font-size:13px;">$</font><font style="text-align: right; color:#000000;font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:75%;font-size:13px;">135.11</font><font style="text-align: left; color:#000000;font-family:Times New Roman;vertical-align:bottom;display:inline-block;width:10%;font-size:13px;"><br></font></div>
</td>
</tr></table>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div>
<table cellpadding="0" cellspacing="0" style="width: 100%; font-family: Times New Roman; font-size: 13px">
<tr>
<td style="vertical-align: top; width: 5%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px;">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">(1)</font></div>
</td>
<td style="vertical-align: top; width: 95%">
<div style="text-align: justify; margin-left: 0px; margin-right: 9px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
The number of shares of common stock, no par
value</font><font style="font-weight: bold; color: #000000">&#xA0;</font><font style="color: #000000">per share, of Dynatronics Corporation (the
&#x201C;</font><font style="font-style: italic; color: #000000">Registrant</font><font style="color: #000000">&#x201D;) stated above consists of (a) 600,0000
shares of common stock reserved for issuance under the
Registrant&#x2019;s 2018 Equity Incentive Plan (the
&#x201C;</font><font style="font-style: italic; color: #000000">2018
Plan</font><font style="color: #000000">&#x201D;), (b) 241,353
shares of common stock previously reserved but unissued under the
Registrant&#x2019;s 2015 Equity Incentive Award Plan (the
&#x201C;</font><font style="font-style: italic; color: #000000">2015</font><font style="color: #000000">&#xA0;</font><font style="font-style: italic; color: #000000">Plan</font><font style="color: #000000">&#x201D;) at the time the 2018 Plan was adopted and
approved by the shareholders. No additional stock awards will be
granted under the 2015 Plan, and any shares subject to outstanding
stock awards under the 2015 Plan that (i) expire or terminate for
any reason prior to exercise, (ii) are forfeited because of the
failure to meet a contingency or condition required to vest such
shares or otherwise return to the Registrant or (iii) are
reacquired, withheld (or not issued) to satisfy a tax withholding
obligation in connection with an award or to satisfy the purchase
price or exercise price of a stock award) will become available for
issuance pursuant to awards granted under the 2018
Plan.</font></font></div>
</td>
</tr><tr>
<td style="vertical-align: middle; width: 5%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: middle; width: 95%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 5%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px;">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">(2)</font></div>
</td>
<td style="vertical-align: top; width: 95%">
<div style="text-align: justify; margin-left: 0px; margin-right: 9px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
This calculation is made solely for the purpose of determining the
registration fee pursuant to the provisions of Rule 457(c) and (h)
under the Securities Act on the basis of the average of the high
and low sale prices per share of the common stock on The Nasdaq
Capital Market as of September 24, 2019, a date within five
business days prior to filing this Registration Statement. The
maximum number of shares which may be sold upon the exercise of
options or the issuance of stock-based awards granted under the
2018 Plan is subject to adjustment in accordance with certain
anti-dilution and other provisions of the Plan. Accordingly,
pursuant to Rule 416 under the Securities Act of 1933, as amended
(the &#x201C;</font><font style="font-style: italic; color: #000000">Securities
Act</font><font style="color: #000000">&#x201D;), this Registration
Statement covers, in addition to the number of shares stated above,
an indeterminate number of shares which may be subject to grant or
otherwise issuable after the operation of any such anti-dilution
and other provisions.</font></font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 5%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 95%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 5%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">(3)</font></div>
</td>
<td style="vertical-align: top; width: 95%">
<div style="text-align: justify; margin-left: 0px; margin-right: 9px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Calculated
pursuant to Section 6(b) of the Securities Act as follows: proposed
maximum aggregate offering price multiplied by
0.0001212.</font></div>
</td>
</tr></table>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">2</font></div>
</div>
<div id="pb" style="text-align: center; page-break-after: always; margin-left: 0px; margin-right: 0px; margin-bottom: 6px; width: 100%; height: 1px; background-color: #000000">
<!--page break--></div>
<div id="hdr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
PART I</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-weight: bold; font-style: italic; font-family: Times New Roman; font-size: 13px">
Explanatory Note</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">In accordance with the instructional Note to Part
I of Form S-8 as promulgated by the Securities and Exchange
Commission (the &#x201C;</font><font style="font-style: italic; color: #000000">Commission</font><font style="color: #000000">&#x201D;), the information specified by Part I of
Form S-8 has been omitted from this Registration Statement on Form
S-8 for offers of Common Stock pursuant to the 2018 Plan. The
documents containing the information specified in Part I will be
delivered to the participants in the 2018 Plan covered by this
Registration Statement as required by Rule 428(b)(1) under the
Securities Act.</font><a name="s13CF0F353A1A52419C3817EA13C7FD75">
<!--anchor--></a></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
PART II</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="color: #000000; font-style: italic; font-family: Times New Roman; font-size: 13px">
In this Registration Statement, Dynatronics Corporation is
sometimes referred to as &#x201C;Registrant,&#x201D;
&#x201C;we,&#x201D; &#x201C;us&#x201D; or
&#x201C;our.&#x201D;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
Item 3. Incorporation of Documents by Reference.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">The
Registrant incorporates by reference the following documents filed
by the Registrant with the Commission (Commission File No.
001-12697):</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 96px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">(a)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">Our
Annual Report on Form 10-K for the fiscal year ended June 30, 2019,
filed with the Commission on September 25, 2019;
and</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 96px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">(b)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">The
description of the Common Stock contained in the Registrant&#x2019;s
Registration Statement on Form S-1, as amended, filed with the
Commission, effective November 2, 1984 (No. 2-85045), including any
amendment to that form we may have filed in the past, or may file
in the future, for the purpose of updating the description of the
Common Stock.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">All
reports and other documents filed by the Registrant after the date
hereof pursuant to Sections 13(a), 13(c), 14 and 15(d) of the
Exchange Act prior to the filing of a post-effective amendment
which indicates that all securities offered hereby have been sold
or which deregisters all securities then remaining unsold, shall be
deemed to be incorporated by reference herein and to be part hereof
from the date of filing of such reports and documents.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">Any
statement contained herein or in a document incorporated or deemed
to be incorporated by reference or deemed to be a part of this
Registration Statement shall be deemed to be modified or superseded
for purposes of this Registration Statement to the extent that a
statement contained in this Registration Statement or in any other
subsequently filed document that also is or is deemed to be
incorporated by reference or deemed to be a part of this
Registration Statement modifies or supersedes such statement. Any
statement contained in a document that is deemed to be incorporated
by reference or deemed to be a part of this Registration Statement
after the most recent effective date may modify or replace existing
statements contained in this Registration Statement. In either
case, any statement so modified or superseded shall not be deemed
to constitute a part of this Registration Statement, except as so
modified or superseded.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
Item 4. Description of Securities.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">Not
applicable.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
Item 5. Interests of Named Experts and Counsel.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">Not
applicable.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
Item 6. Indemnification of Directors and Officers.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">The Registrant is a Utah corporation and subject
to the provisions of the Utah Revised Business Corporation Act
(Section 16-10a-101</font> <font style="font-style: italic; color: #000000">et seq</font><font style="color: #000000">. of the Utah Code or the
&#x201C;</font><font style="font-style: italic; color: #000000">Utah
Act</font><font style="color: #000000">&#x201D;), which includes
provisions related to indemnification of directors and officers.
The key terms of the Utah Act applicable to indemnification of
directors and officers are summarized below.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">3</font></div>
</div>
<div id="pb" style="text-align: center; page-break-after: always; margin-left: 0px; margin-right: 0px; margin-bottom: 6px; width: 100%; height: 1px; background-color: #000000">
<!--page break--></div>
<div id="hdr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">Section
16-10a-902 allows a corporation to indemnify any individual made a
party to a proceeding because the party is or was a director of the
corporation if (a) the conduct was in good faith, (b) the party
reasonably believed that their conduct was in, or not opposed to,
the best interests of the corporation, and (c) in the case of any
criminal proceeding, the party had no reasonable cause to believe
such conduct was unlawful. Such indemnification is limited to
reasonable expenses (including attorney&#x2019;s fees) incurred in
connection with any such proceeding. Notwithstanding the foregoing,
Section 16-10a-902(4)-(5) of the Utah Act provides that a
corporation may not indemnify a director in connection
with:</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 96px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">(i)</font></div>
<div style="text-align: justify; display: table-cell"><font style="color: #000000; font-family: Times New Roman; font-size: 13px">any
proceeding brought by or in the right of the corporation (including
any derivative actions) if that director was adjudged liable to the
corporation; and</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 96px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">(ii)</font></div>
<div style="text-align: justify; display: table-cell"><font style="color: #000000; font-family: Times New Roman; font-size: 13px">any
other proceeding charging that the director derived an improper
personal benefit, whether or not involving action in his or her
official capacity, in which proceeding he or she was adjudged
liable on the basis that he or she derived an improper personal
benefit.</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">Section
16-10a-903 provides that, unless limited by its articles of
incorporation, a corporation must indemnify a director who is
successful, on the merits or otherwise, in the defense of any
proceeding, or in the defense of any claim, issue or matter in the
proceeding, to which the director was a party because the director
is or was a director of the corporation, against reasonable
expenses (including attorneys&#x2019; fees) incurred in connection
with the proceeding or claim with respect to which the director has
been successful.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">Section
16-10a-904 allows a corporation to pay for or reimburse the
reasonable expenses (including attorneys&#x2019; fees) incurred by a
director who is a party to a proceeding in advance of the final
disposition of the proceeding upon certain affirmations,
undertakings and determinations required thereunder.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">Section
16-10a-905 provides that, unless otherwise limited by a
corporation&#x2019;s articles of incorporation, a director who is or
was a party to a proceeding may apply for indemnification to the
court conducting the proceeding or to another court of competent
jurisdiction. The court may order such indemnification if it
determines that the director is entitled to mandatory
indemnification under Section 16-10a-903 or is otherwise fairly and
reasonably entitled to indemnification in view of all the relevant
circumstances.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">Section
16-10a-906 provides a corporation may only indemnify a director
pursuant to Section 16-10a-902 if a determination is made in the
specific proceeding that indemnification is permissible in the
circumstances and such indemnification is authorized by the
corporation. Similarly, authorization is required for a corporation
to advance expenses under Section 16-10a-904.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">Section
16-10a-907 provides that, unless otherwise limited by a
corporation&#x2019;s articles of incorporation:</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 96px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">(i)</font></div>
<div style="text-align: justify; display: table-cell"><font style="color: #000000; font-family: Times New Roman; font-size: 13px">an
officer of the corporation is entitled to mandatory indemnification
under Section 16-10a-903 and is entitled to apply for court-ordered
indemnification under Section 16-10a-905, in each case to the same
extent as a director;</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 96px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">(ii)</font></div>
<div style="text-align: justify; display: table-cell"><font style="color: #000000; font-family: Times New Roman; font-size: 13px">the
corporation may indemnify and advance expenses to an officer,
employee, fiduciary or agent of the corporation to the same extent
as a director; and</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 96px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">(iii)</font></div>
<div style="text-align: justify; display: table-cell"><font style="color: #000000; font-family: Times New Roman; font-size: 13px">a
corporation may also indemnify and advance expenses to an officer,
employee, fiduciary or agent who is not a director to a greater
extent than the right of indemnification granted to a director, if
not inconsistent with public policy and if provided for by its
articles of incorporation, bylaws, general or specific action of
its board of directors or contract.</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">Section
16-10a-908 allows a corporation to purchase and maintain liability
insurance on behalf of a person who is or was a director, officer,
employee, fiduciary or agent of the corporation or who, while
serving in any such capacity, is or was serving at the request of
the corporation as a director, officer, partner, trustee, employee,
fiduciary, or agent of another foreign or domestic corporation or
other person, or of an employee benefit plan, in each case, against
liability asserted against or incurred by the individual in that
capacity or arising from his or her status as such. Such insurance
may be purchased and maintained whether or not the corporation
would have the power to indemnify any such person against the same
liability under Sections 16-10a-902, 903 or 907.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">4</font></div>
</div>
<div id="pb" style="text-align: center; page-break-after: always; margin-left: 0px; margin-right: 0px; margin-bottom: 6px; width: 100%; height: 1px; background-color: #000000">
<!--page break--></div>
<div id="hdr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">Under
Section 16-10a-909, a provision treating a corporation&#x2019;s
indemnification of, or advance for expenses to, directors that is
contained in its articles of incorporation or bylaws, in a
resolution of its shareholders or board of directors or in a
contract (except an insurance policy) or otherwise, will only be
valid if and to the extent that provision is not inconsistent with
Sections 16-10a-901 through 909. Additionally, if the articles of
incorporation of a corporation limit indemnification or advancement
of expenses, then such indemnification and advancement of expenses
will be valid only to the extent not inconsistent with such
articles.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">The Registrant&#x2019;s Amended and Restated
Articles of Incorporation (the &#x201C;</font><font style="font-style: italic; color: #000000">Articles</font><font style="color: #000000">&#x201D;) require the Registrant to indemnify our
directors and officers against liabilities incurred by them that
result from acts performed by them in furtherance of the business
of the corporation to the fullest extent permitted by Utah
law.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">The
Registrant&#x2019;s Amended and Restated Bylaws (the
&#x201C;Bylaws&#x201D;) also include mandatory indemnification
provisions with respect to our directors and officers and
discretionary indemnification provisions with respect to employees
and agents, each subject to limitations generally reflecting the
limitations on indemnification set forth in the Utah Act (as
discussed above). The Bylaws also allow us to purchase and maintain
insurance on behalf of any person who is or was one of our
directors or officers (or is or was serving at our request as a
director, officer, employee or agent of another corporation,
partnership, joint venture, trust or other enterprise) against any
liability asserted against, or incurred by, him or her in such
capacity or arising out of his or her status in such capacity,
whether or not we would have the power to indemnify him or her
against such liability under the indemnification provisions of the
Bylaws or Utah law. We maintain insurance from commercial carriers
against certain liabilities that may be incurred by our directors
and officers.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">The
Registrant has also entered into indemnification agreements with
its directors and certain of our executive officers, pursuant to
which we have, among other things, agreed to defend, indemnify and
hold harmless each such person to the fullest extent permitted by
the Utah Act if he or she is or was a party, or is threatened to be
made a party, to any proceeding (other than derivative proceedings)
by reason of his or her role as a director, officer or agent of the
company or its subsidiaries. The Registrant has also agreed to
defend, indemnify and hold harmless each such person to the fullest
extent permitted by the Utah Act in connection with any derivative
proceeding to which such person was or is, or is threatened to be
made, a party if he or she acted in good faith and in a manner
reasonably believed by him or her to be in the best interests of
our company and shareholders, unless such person is found by a
court to be liable to our company and shareholders in performance
of his or her duties. Under these agreements, each person is
presumed to have satisfied the applicable standard of conduct
necessary to be indemnified by our company, a presumption that may
only be rebutted by clear and convincing evidence to the
contrary.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">Indemnification
may also be granted to our directors and officers in the future
pursuant to other agreements, amendments to the Articles or Bylaws
or by vote of our shareholders or directors.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">The
foregoing descriptions are summary in nature, do not describe all
details regarding the indemnification of our officers, directors or
controlling persons and are subject in its entirety by reference to
the applicable provisions of the Utah Act, the Articles and Bylaws
and such indemnification agreements.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
Item 7. Exemption from Registration Claimed.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">Not
applicable.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 10">&#xA0;</font>
<font style="font-family: Times New Roman; font-size: 13px"><br>
</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">5</font></div>
</div>
<div id="pb" style="text-align: center; page-break-after: always; margin-left: 0px; margin-right: 0px; margin-bottom: 6px; width: 100%; height: 1px; background-color: #000000">
<!--page break--></div>
<div id="hdr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
Item 8. Exhibits</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left">
<table cellpadding="0" cellspacing="0" style="text-align: left; width: 100%; font-family: Times New Roman; font-size: 13px; margin: 0px auto 0px 0px;">
<tr>
<td style="vertical-align: bottom; width: 10%; border-bottom: 2px solid rgb(0, 0, 0);">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
Exhibit No.</font></div>
</td>
<td style="vertical-align: bottom; width: 1%;">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: bottom; width: 89%; border-bottom: 2px solid rgb(0, 0, 0);">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
Description of Document</font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 10%;">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 1%;">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 89%;">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
</tr><tr style="background-color: rgb(204, 238, 255);">
<td style="vertical-align: top; width: 10%;">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><a href="http://www.sec.gov/Archives/edgar/data/720875/000109690617000054/exhibit3_1.htm">
<font style="font-family: Times New Roman; font-size: 13px">3.1</font></a></div>
</td>
<td style="vertical-align: top; width: 1%;">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 89%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Amended
and Restated Articles of Incorporation (1)</font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 10%;">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><a href="http://www.sec.gov/Archives/edgar/data/720875/000109690615000797/dynatronicsexh32.htm">
<font style="font-family: Times New Roman; font-size: 13px">3.2</font></a></div>
</td>
<td style="vertical-align: middle; width: 1%;">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: bottom; width: 89%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Amended
and Restated Bylaws of the Registrant (2)</font></div>
</td>
</tr><tr style="background-color: rgb(204, 238, 255);">
<td style="vertical-align: top; width: 10%;">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><a href="http://www.sec.gov/Archives/edgar/data/720875/000109690615000722/dynatronicsexh31.htm">
<font style="font-family: Times New Roman; font-size: 13px">3.3</font></a></div>
</td>
<td style="vertical-align: middle; width: 1%;">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: bottom; width: 89%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Certificate
Designating the Preferences, Rights and Limitations of the Series A
8% Convertible Preferred Stock of the Registrant (Corrected)
(3)</font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 10%;">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><a href="http://www.sec.gov/Archives/edgar/data/720875/000109690617000219/exh3_1.htm">
<font style="font-family: Times New Roman; font-size: 13px">3.4</font></a></div>
</td>
<td style="vertical-align: middle; width: 1%;">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: bottom; width: 89%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Certificate
of Designations, Preferences and Rights of Series B Convertible
Preferred Stock of the Registrant (4)</font></div>
</td>
</tr><tr style="background-color: rgb(204, 238, 255);">
<td style="vertical-align: top; width: 10%;">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><a href="http://www.sec.gov/Archives/edgar/data/720875/000109690617000651/exh3_1.htm">
<font style="font-family: Times New Roman; font-size: 13px">3.5</font></a></div>
</td>
<td style="vertical-align: middle; width: 1%;">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: bottom; width: 89%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Certificate
of Designations, Preferences and Rights of the Series C Non-voting
Convertible of the Registrant (5)</font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 10%;">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">3.6</font></div>
</td>
<td style="vertical-align: middle; width: 1%;">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: bottom; width: 89%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Certificate
of Designations, Preferences and Rights of the Series D Non-voting
Convertible of the Registrant (6)</font></div>
</td>
</tr><tr style="background-color: rgb(204, 238, 255);">
<td style="vertical-align: top; width: 10%;">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><a href="http://www.sec.gov/Archives/edgar/data/720875/000165495418010952/dynt_def14a.htm">
<font style="font-family: Times New Roman; font-size: 13px">4.2</font></a></div>
</td>
<td style="vertical-align: top; width: 1%;">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 89%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Dynatronics
Corporation 2018 Equity Incentive Plan (7)</font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 10%;">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><a href="dynt_ex43.htm"><font style="font-family: Times New Roman; font-size: 13px">4.3</font></a></div>
</td>
<td style="vertical-align: top; width: 1%;">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 89%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Form of
Incentive Stock Option Agreement (8)</font></div>
</td>
</tr><tr style="background-color: rgb(204, 238, 255);">
<td style="vertical-align: top; width: 10%;">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><a href="dyna_ex44.htm"><font style="font-family: Times New Roman; font-size: 13px">4.4</font></a></div>
</td>
<td style="vertical-align: top; width: 1%;">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 89%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Form of
Non-Statutory Stock Option Agreement (8)</font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 10%;">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><a href="dynt_ex45.htm"><font style="font-family: Times New Roman; font-size: 13px">4.5</font></a></div>
</td>
<td style="vertical-align: top; width: 1%;">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 89%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Form of
Notice of Award of Restricted Stock Units and Restricted Stock Unit
Award Agreement (8)</font></div>
</td>
</tr><tr style="background-color: rgb(204, 238, 255);">
<td style="vertical-align: top; width: 10%;">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><a href="dynt_ex46.htm"><font style="font-family: Times New Roman; font-size: 13px">4.6</font></a></div>
</td>
<td style="vertical-align: top; width: 1%;">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 89%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Form of
Restricted Stock Agreement(8)</font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 10%;">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><a href="dynt_ex51.htm"><font style="font-family: Times New Roman; font-size: 13px">5.1</font></a></div>
</td>
<td style="vertical-align: top; width: 1%;">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 89%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Opinion
of Durham Jones &amp; Pinegar, P.C. (8)</font></div>
</td>
</tr><tr style="background-color: rgb(204, 238, 255);">
<td style="vertical-align: top; width: 10%;">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><a href="dynt_ex231.htm"><font style="font-family: Times New Roman; font-size: 13px">23.1</font></a></div>
</td>
<td style="vertical-align: top; width: 1%;">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 89%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Consent
of Tanner LLC, Independent Registered Public Accounting Firm
(8)</font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 10%;">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><a href="#poa"><font style="font-family: Times New Roman; font-size: 13px">24.1</font></a></div>
</td>
<td style="vertical-align: top; width: 1%;">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 89%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Power
of Attorney (included as part of the signature page to this
Registration Statement and incorporated herein by reference)
(8)</font></div>
</td>
</tr></table>
</div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
&#x2014;&#x2014;&#x2014;&#x2014;&#x2014;&#x2014;&#x2014;&#x2014;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(1)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Incorporated by
reference to Exhibit 3.1 of the Registrant<font style="color: #000000">&#x2019;</font>s Form S-3 filed with the Securities
and Exchange Commission on January 27, 2017 (File No.
333-215800).</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(2)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Incorporated by
reference to Exhibit 3.2 of the Registrant<font style="color: #000000">&#x2019;</font>s Current Report on Form 8-K filed
with the Securities and Exchange Commission on July 22, 2015 (File
No. 001-12697).</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(3)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Incorporated by
reference to Exhibit 3.1 of the Registrant<font style="color: #000000">&#x2019;</font>s Current Report on Form 8-K filed
with the Securities and Exchange Commission on July 1, 2015 (File
No. 001-12697).</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(4)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Incorporated by
reference to Exhibit 3.1 to the Registrant<font style="color: #000000">&#x2019;</font>s Current Report on Form 8-K filed
with the Securities and Exchange Commission on April 4, 2017 (File
No. 001-12697).</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(5)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Incorporated by
reference to Exhibit 3.1 to the Registrant<font style="color: #000000">&#x2019;</font>s Current Report on Form 8-K filed
with the Securities and Exchange Commission on October 6, 2017
(File No. 001-12697).</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(6)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Incorporated by
reference to Exhibit 3.2 to the Registrant<font style="color: #000000">&#x2019;</font>s Current Report on Form S-K filed
with the Securities and Exchange Commission on October 4, 2018
(File No. 001-12697).</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(7)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Incorporated by
reference to Appendix A to the Registrant<font style="color: #000000">&#x2019;</font>s Definitive Proxy Statement on
Schedule 14A filed with the Securities and Exchange Commission on
October 10, 2018 (File No. 001-12697).</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(8)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Filed
herewith.</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
Item 9. Undertakings.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">(a)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">The
undersigned Registrant hereby undertakes:</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 96px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">(1)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">To
file, during any period in which offers or sales are being made, a
post-effective amendment to this Registration
Statement:</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 96px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">(i)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">To
include any prospectus required by Section 10(a)(3) of the
Securities Act;</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">6</font></div>
</div>
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<div id="hdr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 144px">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 144px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">(ii)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">To
reflect in the prospectus any facts or events arising after the
effective date of the Registration Statement (or the most recent
post-effective amendment thereof) which, individually or in the
aggregate, represents a fundamental change in the information set
forth in the Registration Statement. Notwithstanding the foregoing,
any increase or decrease in volume of securities offered (if the
total dollar value of securities offered would not exceed that
which was registered) and any deviation from the low or high end of
the estimated maximum offering range may be reflected in the form
of prospectus filed with the Commission pursuant to Rule 424(b) if,
in the aggregate, the changes in volume and price represent no more
than a 20% change in the maximum aggregate offering price set forth
in the &#x201C;Calculation of Registration Fee&#x201D; table in the
effective Registration Statement; and</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 144px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">(iii)
To include any material information with respect to the plan of
distribution not previously disclosed in the Registration Statement
or any material change to such information in the Registration
Statement;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="font-style: italic; color: #000000">
Provided, however</font><font style="color: #000000">, that
paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the
Registration Statement is on Form S-8, and the information required
to be included in a post-effective amendment by those paragraphs is
contained in reports filed with or furnished to the Commission by
the Registrant pursuant to Section 13 or Section 15(d) of the
Exchange Act that are incorporated by reference in this
Registration Statement.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 96px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">(2)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">That,
for the purpose of determining any liability under the Securities
Act, each such post-effective amendment shall be deemed to be a new
registration statement relating to the securities offered therein,
and the offering of such securities at that time shall be deemed to
be the initial bona fide offering thereof.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 96px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">(3)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">To
remove from registration by means of a post-effective amendment any
of the securities being registered which remain unsold at the
termination of the offering.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">(b)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">The
undersigned Registrant hereby undertakes that, for purposes of
determining any liability under the Securities Act, each filing of
the Registrant&#x2019;s annual report pursuant to Section 13(a) or
Section 15(d) of the Exchange Act that is incorporated by reference
in this Registration Statement shall be deemed to be a new
registration statement relating to the securities offered therein,
and the offering of such securities at that time shall be deemed to
be the initial bona fide offering thereof.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">(c)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">Insofar
as indemnification for liabilities arising under the Securities Act
may be permitted to directors, officers and controlling persons of
the Registrant pursuant to the foregoing provisions, or otherwise,
the Registrant has been advised that in the opinion of the
Commission such indemnification is against public policy as
expressed in the Securities Act and is, therefore, unenforceable.
In the event that a claim for indemnification against such
liabilities (other than the payment by the Registrant of expenses
incurred or paid by a director, officer or controlling person of
the Registrant in the successful defense of any action, suit or
proceeding) is asserted by such director, officer or controlling
person in connection with the securities being registered, the
Registrant will, unless in the opinion of its counsel the matter
has been settled by controlling precedent, submit to a court of
appropriate jurisdiction the question whether such indemnification
by it is against public policy as expressed in the Securities Act
and will be governed by the final adjudication of such
issue.</font></font><font style="color: #000000; font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
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<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">7</font></div>
</div>
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<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
SIGNATURES</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">Pursuant
to the requirements of the Securities Act of 1933, the Registrant
certifies that it has reasonable grounds to believe that it meets
all of the requirements for filing on Form S-8 and has duly caused
this Registration Statement to be signed on its behalf by the
undersigned, thereunto duly authorized, in the city of Cottonwood
Heights, Utah, on September 26, 2019.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div><font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div>
<table cellpadding="0" cellspacing="0" style="font-family: inherit; font-size: inherit; margin-right:0px;width:100%;margin-left:0px;">
<tr>
<td rowspan="1" style="width: 50%; vertical-align: top;">
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
</td>
<td colspan="2" rowspan="1" style="vertical-align: bottom; width: 38%;">
<div><font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
DYNATRONICS CORPORATION</font></div>
</td>
<td rowspan="1" style="width: 12%; vertical-align: top;">
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
</td>
</tr><tr>
<td style="width: 50%; vertical-align: top;">
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
</td>
<td style="width: 3%; vertical-align: top;">
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
</td>
<td style="width: 35%; vertical-align: top;">
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
</td>
<td style="width: 12%; vertical-align: top;">
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 50%; border-bottom: medium solid rgb(255, 255, 255);">
<br></td>
<td style="vertical-align: top; width: 3%; border-bottom: medium solid rgb(255, 255, 255);">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">By:&#xA0;&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 35%; border-bottom: 2px solid black; white-space: nowrap;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">/s/ <font style="color: #000000; font-family: Times New Roman; font-size: 13px">Brian
D. Baker</font></font></div>
</td>
<td style="vertical-align: top; width: 12%; border-bottom: medium solid rgb(255, 255, 255);">
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
</td>
</tr><tr>
<td style="width: 50%; vertical-align: top;">
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
</td>
<td style="width: 3%; vertical-align: top;">
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
</td>
<td style="vertical-align: bottom; width: 35%; white-space: nowrap;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman"><font style="color: #000000; font-family: Times New Roman; font-size: 13px">Brian
D. Baker</font>&#xA0;</font></div>
</td>
<td style="width: 12%; vertical-align: top;">
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
</td>
</tr><tr>
<td style="width: 50%; vertical-align: top;">
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
</td>
<td style="width: 3%; vertical-align: top;">
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
</td>
<td style="width: 35%; vertical-align: top;">
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-size: 13px; font-family: Times New Roman"><font style="color: #000000; font-style: italic; font-family: Times New Roman; font-size: 13px">
President and Chief Executive Officer</font>&#xA0;</font></div>
</td>
<td style="width: 12%; vertical-align: top;">
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
</td>
</tr></table>
</div>
<font style="font-family: Times New Roman; font-size: 10">&#xA0;</font>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
<a name="poa">P</a>OWER OF ATTORNEY</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">Each
person whose signature appears below constitutes and appoints Brian
D. Baker and David A. Wirthlin and James Ogilvie, and each of them
singly, his true and lawful attorneys-in-fact and agents, with full
power of substitution and resubstitution in each of them singly,
for him and in his name, place and stead, and in any and all
capacities, to sign any and all amendments (including
post-effective amendments) to this Registration Statement on Form
S-8 of Dynatronics Corporation, and to file the same, with all
exhibits thereto and other documents in connection therewith, with
the Securities and Exchange Commission, granting to the
attorneys-in-fact and agents, and each of them, full power and
authority to do and perform each and every act and thing requisite
or necessary to be done in or about the premises, as full to all
intents and purposes as he might or could do in person, hereby
ratifying and confirming all that the attorneys-in-fact and agents
or any of each of them or their substitute may lawfully do or cause
to be done by virtue hereof.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">Pursuant
to the requirements of the Securities Act of 1933, this
Registration Statement has been signed by the following persons in
the capacities and on the dates indicated.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div>
<table cellpadding="0" cellspacing="0" style="width: 100%; font-family: Times New Roman; font-size: 13px">
<tr>
<td style="vertical-align: top; width: 32%; border-bottom: 2px solid #000000">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-weight: bold; font-family: Times New Roman; font-size: 13px">
Signature</font></div>
</td>
<td style="vertical-align: top; width: 40%; border-bottom: 2px solid #000000">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-weight: bold; font-family: Times New Roman; font-size: 13px">
Title</font></div>
</td>
<td style="vertical-align: top; width: 27%; border-bottom: 2px solid #000000">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-weight: bold; font-family: Times New Roman; font-size: 13px">
&#xA0;</font> <font style="color: #000000; font-weight: bold; font-family: Times New Roman; font-size: 13px">
Date</font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 32%; border-bottom: 2px solid #000000">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">/s/
Brian D. Baker</font></div>
</td>
<td style="vertical-align: top; width: 40%;">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 27%;"><br></td>
</tr><tr>
<td style="vertical-align: top; width: 32%; border-bottom: 2px solid #000000">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Brian D. Baker</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">/s/
David A. Wirthlin</font></div>
</td>
<td style="vertical-align: top; width: 40%">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
President and Chief Executive Officer (Principal Executive Officer)
and Director</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 27%">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
September 26, 2019</font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 32%; border-bottom: 2px solid #000000">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
David A. Wirthlin</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">/s/
Erin S. Enright</font></div>
</td>
<td style="vertical-align: top; width: 40%">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Chief Financial Officer and Secretary (Principal Financial and
Accounting Officer)</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 27%">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
September 26, 2019</font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 32%; border-bottom: 2px solid #000000">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Erin S. Enright</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">/s/
Kelvyn H. Cullimore, Jr.</font></div>
</td>
<td style="vertical-align: top; width: 40%">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Director/Chairman</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 27%">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
September 26, 2019</font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 32%; border-bottom: 2px solid #000000">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Kelvyn H. Cullimore, Jr.</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
&#xA0;/s/ David B. Holtz</font></div>
</td>
<td style="vertical-align: top; width: 40%">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Director</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 27%">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
September 26, 2019</font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 32%; border-bottom: 2px solid #000000">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
David B. Holtz</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
&#xA0;&#xA0;/s/ Scott A. Klosterman</font></div>
</td>
<td style="vertical-align: top; width: 40%">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Director</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 27%">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
September 26, 2019</font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 32%; border-bottom: 2px solid #000000">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Scott A. Klosterman</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
&#xA0;&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
&#xA0;/s/ Brian M. Larkin</font></div>
</td>
<td style="vertical-align: top; width: 40%">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Director</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 27%">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
September 26, 2019</font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 32%; border-bottom: 2px solid #000000">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Brian M. Larkin</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">/s/ R.
Scott Ward</font></div>
</td>
<td style="vertical-align: top; width: 40%">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Director</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 27%">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
September 26, 2019</font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 32%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">R.
Scott Ward, Ph.D.</font></div>
</td>
<td style="vertical-align: top; width: 40%">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Director</font></div>
</td>
<td style="vertical-align: top; width: 27%">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
September 26, 2019</font></div>
</td>
</tr></table>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">8</font></div>
</div>
<div id="pb" style="text-align: center; page-break-after: always; margin-left: 0px; margin-right: 0px; margin-bottom: 6px; width: 100%; height: 1px; background-color: #000000">
<!--page break--></div>
<div id="hdr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-weight: bold; font-family: Times New Roman; font-size: 13px">
</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-weight: bold; font-family: Times New Roman; font-size: 13px">
EXHIBIT INDEX</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div>
<table cellpadding="0" cellspacing="0" style="font-family: inherit; font-size: inherit;padding-top: 0px; padding-bottom: 0px; margin-left: 0px; margin-right: auto; width: 100%;">
<tr>
<td style="vertical-align: bottom; width: 10%; border-bottom: 2px solid #000000">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-weight: bold; color: #000000; font-size: 13px; font-family: Times New Roman">
Exhibit No.</font></div>
</td>
<td style="vertical-align: bottom; width: 1%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
</td>
<td style="vertical-align: bottom; width: 89%; border-bottom: 2px solid #000000">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-weight: bold; color: #000000; font-size: 13px; font-family: Times New Roman">
Description of Document</font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 10%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 1%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 89%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
</td>
</tr><tr style="background-color: #cceeff">
<td style="vertical-align: top; width: 10%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><a href="http://www.sec.gov/Archives/edgar/data/720875/000109690617000054/exhibit3_1.htm">
<font style="font-size: 13px; font-family: Times New Roman">3.1</font></a></div>
</td>
<td style="vertical-align: top; width: 1%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 89%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">Amended and
Restated Articles of Incorporation (1)</font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 10%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><a href="http://www.sec.gov/Archives/edgar/data/720875/000109690615000797/dynatronicsexh32.htm">
<font style="font-size: 13px; font-family: Times New Roman">3.2</font></a></div>
</td>
<td style="vertical-align: middle; width: 1%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
</td>
<td style="vertical-align: bottom; width: 89%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">Amended and
Restated Bylaws of the Registrant (2)</font></div>
</td>
</tr><tr style="background-color: #cceeff">
<td style="vertical-align: top; width: 10%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><a href="http://www.sec.gov/Archives/edgar/data/720875/000109690615000722/dynatronicsexh31.htm">
<font style="font-size: 13px; font-family: Times New Roman">3.3</font></a></div>
</td>
<td style="vertical-align: middle; width: 1%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
</td>
<td style="vertical-align: bottom; width: 89%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">Certificate
Designating the Preferences, Rights and Limitations of the Series A
8% Convertible Preferred Stock of the Registrant (Corrected)
(3)</font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 10%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><a href="http://www.sec.gov/Archives/edgar/data/720875/000109690617000219/exh3_1.htm">
<font style="font-size: 13px; font-family: Times New Roman">3.4</font></a></div>
</td>
<td style="vertical-align: middle; width: 1%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
</td>
<td style="vertical-align: bottom; width: 89%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">Certificate of
Designations, Preferences and Rights of Series B Convertible
Preferred Stock of the Registrant (4)</font></div>
</td>
</tr><tr style="background-color: #cceeff">
<td style="vertical-align: top; width: 10%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><a href="http://www.sec.gov/Archives/edgar/data/720875/000109690617000651/exh3_1.htm">
<font style="font-size: 13px; font-family: Times New Roman">3.5</font></a></div>
</td>
<td style="vertical-align: middle; width: 1%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
</td>
<td style="vertical-align: bottom; width: 89%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">Certificate of
Designations, Preferences and Rights of the Series C Non-voting
Convertible of the Registrant (5)</font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 10%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">3.6</font></div>
</td>
<td style="vertical-align: middle; width: 1%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
</td>
<td style="vertical-align: bottom; width: 89%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">Certificate of
Designations, Preferences and Rights of the Series D Non-voting
Convertible of the Registrant (6)</font></div>
</td>
</tr><tr style="background-color: #cceeff">
<td style="vertical-align: top; width: 10%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><a href="http://www.sec.gov/Archives/edgar/data/720875/000165495418010952/dynt_def14a.htm">
<font style="font-size: 13px; font-family: Times New Roman">4.2</font></a></div>
</td>
<td style="vertical-align: top; width: 1%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 89%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">Dynatronics
Corporation 2018 Equity Incentive Plan (7)</font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 10%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><a href="dynt_ex43.htm"><font style="font-size: 13px; font-family: Times New Roman">4.3</font></a></div>
</td>
<td style="vertical-align: top; width: 1%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 89%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">Form of Incentive
Stock Option Agreement (8)</font></div>
</td>
</tr><tr style="background-color: #cceeff">
<td style="vertical-align: top; width: 10%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><a href="dyna_ex44.htm"><font style="font-size: 13px; font-family: Times New Roman">4.4</font></a></div>
</td>
<td style="vertical-align: top; width: 1%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 89%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">Form of
Non-Statutory Stock Option Agreement (8)</font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 10%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><a href="dynt_ex45.htm"><font style="font-size: 13px; font-family: Times New Roman">4.5</font></a></div>
</td>
<td style="vertical-align: top; width: 1%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 89%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">Form of Notice of
Award of Restricted Stock Units and Restricted Stock Unit Award
Agreement (8)</font></div>
</td>
</tr><tr style="background-color: #cceeff">
<td style="vertical-align: top; width: 10%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><a href="dynt_ex46.htm"><font style="font-size: 13px; font-family: Times New Roman">4.6</font></a></div>
</td>
<td style="vertical-align: top; width: 1%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 89%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">Form of Restricted
Stock Agreement(8)</font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 10%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><a href="dynt_ex51.htm"><font style="font-size: 13px; font-family: Times New Roman">5.1</font></a></div>
</td>
<td style="vertical-align: top; width: 1%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 89%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">Opinion of Durham
Jones &amp; Pinegar, P.C. (8)</font></div>
</td>
</tr><tr style="background-color: #cceeff">
<td style="vertical-align: top; width: 10%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><a href="dynt_ex231.htm"><font style="font-size: 13px; font-family: Times New Roman">23.1</font></a></div>
</td>
<td style="vertical-align: top; width: 1%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 89%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">Consent of Tanner
LLC, Independent Registered Public Accounting Firm (8)</font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 10%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><a href="#poa"><font style="font-size: 13px; font-family: Times New Roman">24.1</font></a></div>
</td>
<td style="vertical-align: top; width: 1%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 89%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">Power of Attorney
(included as part of the signature page to this Registration
Statement and incorporated herein by reference) (8)</font></div>
</td>
</tr></table>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
&#x2014;&#x2014;&#x2014;&#x2014;&#x2014;&#x2014;&#x2014;&#x2014;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(1)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Incorporated by
reference to Exhibit 3.1 of the Registrant<font style="color: #000000">&#x2019;</font>s Form S-3 filed with the Securities
and Exchange Commission on January 27, 2017 (File No.
333-215800).</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(2)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Incorporated by
reference to Exhibit 3.2 of the Registrant<font style="color: #000000">&#x2019;</font>s Current Report on Form 8-K filed
with the Securities and Exchange Commission on July 22, 2015 (File
No. 001-12697).</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(3)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Incorporated by
reference to Exhibit 3.1 of the Registrant<font style="color: #000000">&#x2019;</font>s Current Report on Form 8-K filed
with the Securities and Exchange Commission on July 1, 2015 (File
No. 001-12697).</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div></div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(4)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Incorporated by
reference to Exhibit 3.1 to the Registrant<font style="color: #000000">&#x2019;</font>s Current Report on Form 8-K filed
with the Securities and Exchange Commission on April 4, 2017 (File
No. 001-12697).</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div></div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(5)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Incorporated by
reference to Exhibit 3.1 to the Registrant<font style="color: #000000">&#x2019;</font>s Current Report on Form 8-K filed
with the Securities and Exchange Commission on October 6, 2017
(File No. 001-12697).</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div></div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(6)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Incorporated by
reference to Exhibit 3.2 to the Registrant<font style="color: #000000">&#x2019;</font>s Current Report on Form S-K filed
with the Securities and Exchange Commission on October 4, 2018
(File No. 001-12697).</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div></div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(7)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Incorporated by
reference to Appendix A to the Registrant<font style="color: #000000">&#x2019;</font>s Definitive Proxy Statement on
Schedule 14A filed with the Securities and Exchange Commission on
October 10, 2018 (File No. 001-12697).</font></div>
</div>
</div>
<div></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 48px; display: table">
<div style="display: table-row">
<div style="text-align: left; display: table-cell; width: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(8)</font></div>
<div style="text-align: justify; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Filed
herewith.</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
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<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">9</font></div>
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Blueprint
As filed with the Securities and Exchange Commission on September
26, 2019
Registration No. 333-____
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
_____________________________
REGISTRATION STATEMENT
UNDER THE
SECURITIES ACT OF 1933
_____________________________
Dynatronics Corporation
(
Exact name
of registrant as specified in its charter)
Utah
87-0398434
(State or other jurisdiction
of incorporation or organization)
(I.R.S. Employer
Identification No.)
7030 Park Centre Drive
Cottonwood Heights, UT
84121
(Address of Principal Executive Offices)
(Zip Code)
Dynatronics Corporation 2018 Equity Incentive Plan
(Full title of the plan)
______________________________________________________________________________
Brian Baker
Chief Executive Officer
7030 Park Centre Drive
Cottonwood Heights, Utah 84121
(801) 568-7000
(
Name,
address and telephone number, including area code, of agent for
service
)
Copies to:
Kevin R. Pinegar, Esq.
Wayne D. Swan, Esq.
Durham Jones & Pinegar, P.C.
111 South Main Street, Suite 2400
Salt Lake City, Utah 84111
(801) 415-3000
Facsimile: (801) 415-3500
_____________________________________________
Indicate
by check mark whether the registrant is a large accelerated filer,
an accelerated filer, a non-accelerated filer, a smaller reporting
company or an emerging growth company. See definitions of
"large accelerated filer," "accelerated
filer," "smaller reporting company," and
"emerging growth company" in Rule 12b-2 of the Exchange
Act.
Large
accelerated filer ☐
Accelerated filer ☐
Non-accelerated
filer ☐
Smaller reporting company
☑
Emerging growth company ☐
If
an emerging growth company, indicate by check mark if the
registrant has elected not to use the extended transition period
for complying with any new or revised financial accounting
standards provided pursuant to Section 7(a)(2)(B) of the Securities
Act. ☐
CALCULATION OF REGISTRATION FEE
Title of
Securities to be Registered
Amount to be
Registered
(1)
Proposed
Maximum
Offering Price
Per Share
(2)
Proposed
Maximum
Aggregate
Offering Price
(2)
Amount of
Registration Fee
(3)
Common
Stock, par value $0.001 per share
841,353
$
1.33
$
1,093,758.00
$
135.11
(1)
The number of shares of common stock, no par
value
per share, of Dynatronics Corporation (the
"
Registrant
") stated above consists of (a) 600,0000
shares of common stock reserved for issuance under the
Registrant's 2018 Equity Incentive Plan (the
"
2018
Plan
"), (b) 241,353
shares of common stock previously reserved but unissued under the
Registrant's 2015 Equity Incentive Award Plan (the
"
2015
Plan
") at the time the 2018 Plan was adopted and
approved by the shareholders. No additional stock awards will be
granted under the 2015 Plan, and any shares subject to outstanding
stock awards under the 2015 Plan that (i) expire or terminate for
any reason prior to exercise, (ii) are forfeited because of the
failure to meet a contingency or condition required to vest such
shares or otherwise return to the Registrant or (iii) are
reacquired, withheld (or not issued) to satisfy a tax withholding
obligation in connection with an award or to satisfy the purchase
price or exercise price of a stock award) will become available for
issuance pursuant to awards granted under the 2018
Plan.
(2)
This calculation is made solely for the purpose of determining the
registration fee pursuant to the provisions of Rule 457(c) and (h)
under the Securities Act on the basis of the average of the high
and low sale prices per share of the common stock on The Nasdaq
Capital Market as of September 24, 2019, a date within five
business days prior to filing this Registration Statement. The
maximum number of shares which may be sold upon the exercise of
options or the issuance of stock-based awards granted under the
2018 Plan is subject to adjustment in accordance with certain
anti-dilution and other provisions of the Plan. Accordingly,
pursuant to Rule 416 under the Securities Act of 1933, as amended
(the "
Securities
Act
"), this Registration
Statement covers, in addition to the number of shares stated above,
an indeterminate number of shares which may be subject to grant or
otherwise issuable after the operation of any such anti-dilution
and other provisions.
(3)
Calculated
pursuant to Section 6(b) of the Securities Act as follows: proposed
maximum aggregate offering price multiplied by
0.0001212.
2
PART I
INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
Explanatory Note
In accordance with the instructional Note to Part
I of Form S-8 as promulgated by the Securities and Exchange
Commission (the "
Commission
"), the information specified by Part I of
Form S-8 has been omitted from this Registration Statement on Form
S-8 for offers of Common Stock pursuant to the 2018 Plan. The
documents containing the information specified in Part I will be
delivered to the participants in the 2018 Plan covered by this
Registration Statement as required by Rule 428(b)(1) under the
Securities Act.
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
In this Registration Statement, Dynatronics Corporation is
sometimes referred to as "Registrant,"
"we," "us" or
"our."
Item 3. Incorporation of Documents by Reference.
The
Registrant incorporates by reference the following documents filed
by the Registrant with the Commission (Commission File No.
001-12697):
(a)
Our
Annual Report on Form 10-K for the fiscal year ended June 30, 2019,
filed with the Commission on September 25, 2019;
and
(b)
The
description of the Common Stock contained in the Registrant's
Registration Statement on Form S-1, as amended, filed with the
Commission, effective November 2, 1984 (No. 2-85045), including any
amendment to that form we may have filed in the past, or may file
in the future, for the purpose of updating the description of the
Common Stock.
All
reports and other documents filed by the Registrant after the date
hereof pursuant to Sections 13(a), 13(c), 14 and 15(d) of the
Exchange Act prior to the filing of a post-effective amendment
which indicates that all securities offered hereby have been sold
or which deregisters all securities then remaining unsold, shall be
deemed to be incorporated by reference herein and to be part hereof
from the date of filing of such reports and documents.
Any
statement contained herein or in a document incorporated or deemed
to be incorporated by reference or deemed to be a part of this
Registration Statement shall be deemed to be modified or superseded
for purposes of this Registration Statement to the extent that a
statement contained in this Registration Statement or in any other
subsequently filed document that also is or is deemed to be
incorporated by reference or deemed to be a part of this
Registration Statement modifies or supersedes such statement. Any
statement contained in a document that is deemed to be incorporated
by reference or deemed to be a part of this Registration Statement
after the most recent effective date may modify or replace existing
statements contained in this Registration Statement. In either
case, any statement so modified or superseded shall not be deemed
to constitute a part of this Registration Statement, except as so
modified or superseded.
Item 4. Description of Securities.
Not
applicable.
Item 5. Interests of Named Experts and Counsel.
Not
applicable.
Item 6. Indemnification of Directors and Officers.
The Registrant is a Utah corporation and subject
to the provisions of the Utah Revised Business Corporation Act
(Section 16-10a-101
et seq
. of the Utah Code or the
"
Utah
Act
"), which includes
provisions related to indemnification of directors and officers.
The key terms of the Utah Act applicable to indemnification of
directors and officers are summarized below.
3
Section
16-10a-902 allows a corporation to indemnify any individual made a
party to a proceeding because the party is or was a director of the
corporation if (a) the conduct was in good faith, (b) the party
reasonably believed that their conduct was in, or not opposed to,
the best interests of the corporation, and (c) in the case of any
criminal proceeding, the party had no reasonable cause to believe
such conduct was unlawful. Such indemnification is limited to
reasonable expenses (including attorney's fees) incurred in
connection with any such proceeding. Notwithstanding the foregoing,
Section 16-10a-902(4)-(5) of the Utah Act provides that a
corporation may not indemnify a director in connection
with:
(i)
any
proceeding brought by or in the right of the corporation (including
any derivative actions) if that director was adjudged liable to the
corporation; and
(ii)
any
other proceeding charging that the director derived an improper
personal benefit, whether or not involving action in his or her
official capacity, in which proceeding he or she was adjudged
liable on the basis that he or she derived an improper personal
benefit.
Section
16-10a-903 provides that, unless limited by its articles of
incorporation, a corporation must indemnify a director who is
successful, on the merits or otherwise, in the defense of any
proceeding, or in the defense of any claim, issue or matter in the
proceeding, to which the director was a party because the director
is or was a director of the corporation, against reasonable
expenses (including attorneys' fees) incurred in connection
with the proceeding or claim with respect to which the director has
been successful.
Section
16-10a-904 allows a corporation to pay for or reimburse the
reasonable expenses (including attorneys' fees) incurred by a
director who is a party to a proceeding in advance of the final
disposition of the proceeding upon certain affirmations,
undertakings and determinations required thereunder.
Section
16-10a-905 provides that, unless otherwise limited by a
corporation's articles of incorporation, a director who is or
was a party to a proceeding may apply for indemnification to the
court conducting the proceeding or to another court of competent
jurisdiction. The court may order such indemnification if it
determines that the director is entitled to mandatory
indemnification under Section 16-10a-903 or is otherwise fairly and
reasonably entitled to indemnification in view of all the relevant
circumstances.
Section
16-10a-906 provides a corporation may only indemnify a director
pursuant to Section 16-10a-902 if a determination is made in the
specific proceeding that indemnification is permissible in the
circumstances and such indemnification is authorized by the
corporation. Similarly, authorization is required for a corporation
to advance expenses under Section 16-10a-904.
Section
16-10a-907 provides that, unless otherwise limited by a
corporation's articles of incorporation:
(i)
an
officer of the corporation is entitled to mandatory indemnification
under Section 16-10a-903 and is entitled to apply for court-ordered
indemnification under Section 16-10a-905, in each case to the same
extent as a director;
(ii)
the
corporation may indemnify and advance expenses to an officer,
employee, fiduciary or agent of the corporation to the same extent
as a director; and
(iii)
a
corporation may also indemnify and advance expenses to an officer,
employee, fiduciary or agent who is not a director to a greater
extent than the right of indemnification granted to a director, if
not inconsistent with public policy and if provided for by its
articles of incorporation, bylaws, general or specific action of
its board of directors or contract.
Section
16-10a-908 allows a corporation to purchase and maintain liability
insurance on behalf of a person who is or was a director, officer,
employee, fiduciary or agent of the corporation or who, while
serving in any such capacity, is or was serving at the request of
the corporation as a director, officer, partner, trustee, employee,
fiduciary, or agent of another foreign or domestic corporation or
other person, or of an employee benefit plan, in each case, against
liability asserted against or incurred by the individual in that
capacity or arising from his or her status as such. Such insurance
may be purchased and maintained whether or not the corporation
would have the power to indemnify any such person against the same
liability under Sections 16-10a-902, 903 or 907.
4
Under
Section 16-10a-909, a provision treating a corporation's
indemnification of, or advance for expenses to, directors that is
contained in its articles of incorporation or bylaws, in a
resolution of its shareholders or board of directors or in a
contract (except an insurance policy) or otherwise, will only be
valid if and to the extent that provision is not inconsistent with
Sections 16-10a-901 through 909. Additionally, if the articles of
incorporation of a corporation limit indemnification or advancement
of expenses, then such indemnification and advancement of expenses
will be valid only to the extent not inconsistent with such
articles.
The Registrant's Amended and Restated
Articles of Incorporation (the "
Articles
") require the Registrant to indemnify our
directors and officers against liabilities incurred by them that
result from acts performed by them in furtherance of the business
of the corporation to the fullest extent permitted by Utah
law.
The
Registrant's Amended and Restated Bylaws (the
"Bylaws") also include mandatory indemnification
provisions with respect to our directors and officers and
discretionary indemnification provisions with respect to employees
and agents, each subject to limitations generally reflecting the
limitations on indemnification set forth in the Utah Act (as
discussed above). The Bylaws also allow us to purchase and maintain
insurance on behalf of any person who is or was one of our
directors or officers (or is or was serving at our request as a
director, officer, employee or agent of another corporation,
partnership, joint venture, trust or other enterprise) against any
liability asserted against, or incurred by, him or her in such
capacity or arising out of his or her status in such capacity,
whether or not we would have the power to indemnify him or her
against such liability under the indemnification provisions of the
Bylaws or Utah law. We maintain insurance from commercial carriers
against certain liabilities that may be incurred by our directors
and officers.
The
Registrant has also entered into indemnification agreements with
its directors and certain of our executive officers, pursuant to
which we have, among other things, agreed to defend, indemnify and
hold harmless each such person to the fullest extent permitted by
the Utah Act if he or she is or was a party, or is threatened to be
made a party, to any proceeding (other than derivative proceedings)
by reason of his or her role as a director, officer or agent of the
company or its subsidiaries. The Registrant has also agreed to
defend, indemnify and hold harmless each such person to the fullest
extent permitted by the Utah Act in connection with any derivative
proceeding to which such person was or is, or is threatened to be
made, a party if he or she acted in good faith and in a manner
reasonably believed by him or her to be in the best interests of
our company and shareholders, unless such person is found by a
court to be liable to our company and shareholders in performance
of his or her duties. Under these agreements, each person is
presumed to have satisfied the applicable standard of conduct
necessary to be indemnified by our company, a presumption that may
only be rebutted by clear and convincing evidence to the
contrary.
Indemnification
may also be granted to our directors and officers in the future
pursuant to other agreements, amendments to the Articles or Bylaws
or by vote of our shareholders or directors.
The
foregoing descriptions are summary in nature, do not describe all
details regarding the indemnification of our officers, directors or
controlling persons and are subject in its entirety by reference to
the applicable provisions of the Utah Act, the Articles and Bylaws
and such indemnification agreements.
Item 7. Exemption from Registration Claimed.
Not
applicable.
5
Item 8. Exhibits
Exhibit No.
Description of Document
3.1
Amended
and Restated Articles of Incorporation (1)
3.2
Amended
and Restated Bylaws of the Registrant (2)
3.3
Certificate
Designating the Preferences, Rights and Limitations of the Series A
8% Convertible Preferred Stock of the Registrant (Corrected)
(3)
3.4
Certificate
of Designations, Preferences and Rights of Series B Convertible
Preferred Stock of the Registrant (4)
3.5
Certificate
of Designations, Preferences and Rights of the Series C Non-voting
Convertible of the Registrant (5)
3.6
Certificate
of Designations, Preferences and Rights of the Series D Non-voting
Convertible of the Registrant (6)
4.2
Dynatronics
Corporation 2018 Equity Incentive Plan (7)
4.3
Form of
Incentive Stock Option Agreement (8)
4.4
Form of
Non-Statutory Stock Option Agreement (8)
4.5
Form of
Notice of Award of Restricted Stock Units and Restricted Stock Unit
Award Agreement (8)
4.6
Form of
Restricted Stock Agreement(8)
5.1
Opinion
of Durham Jones & Pinegar, P.C. (8)
23.1
Consent
of Tanner LLC, Independent Registered Public Accounting Firm
(8)
24.1
Power
of Attorney (included as part of the signature page to this
Registration Statement and incorporated herein by reference)
(8)
————————
(1)
Incorporated by
reference to Exhibit 3.1 of the Registrant
'
s Form S-3 filed with the Securities
and Exchange Commission on January 27, 2017 (File No.
333-215800).
(2)
Incorporated by
reference to Exhibit 3.2 of the Registrant
'
s Current Report on Form 8-K filed
with the Securities and Exchange Commission on July 22, 2015 (File
No. 001-12697).
(3)
Incorporated by
reference to Exhibit 3.1 of the Registrant
'
s Current Report on Form 8-K filed
with the Securities and Exchange Commission on July 1, 2015 (File
No. 001-12697).
(4)
Incorporated by
reference to Exhibit 3.1 to the Registrant
'
s Current Report on Form 8-K filed
with the Securities and Exchange Commission on April 4, 2017 (File
No. 001-12697).
(5)
Incorporated by
reference to Exhibit 3.1 to the Registrant
'
s Current Report on Form 8-K filed
with the Securities and Exchange Commission on October 6, 2017
(File No. 001-12697).
(6)
Incorporated by
reference to Exhibit 3.2 to the Registrant
'
s Current Report on Form S-K filed
with the Securities and Exchange Commission on October 4, 2018
(File No. 001-12697).
(7)
Incorporated by
reference to Appendix A to the Registrant
'
s Definitive Proxy Statement on
Schedule 14A filed with the Securities and Exchange Commission on
October 10, 2018 (File No. 001-12697).
(8)
Filed
herewith.
Item 9. Undertakings.
(a)
The
undersigned Registrant hereby undertakes:
(1)
To
file, during any period in which offers or sales are being made, a
post-effective amendment to this Registration
Statement:
(i)
To
include any prospectus required by Section 10(a)(3) of the
Securities Act;
6
(ii)
To
reflect in the prospectus any facts or events arising after the
effective date of the Registration Statement (or the most recent
post-effective amendment thereof) which, individually or in the
aggregate, represents a fundamental change in the information set
forth in the Registration Statement. Notwithstanding the foregoing,
any increase or decrease in volume of securities offered (if the
total dollar value of securities offered would not exceed that
which was registered) and any deviation from the low or high end of
the estimated maximum offering range may be reflected in the form
of prospectus filed with the Commission pursuant to Rule 424(b) if,
in the aggregate, the changes in volume and price represent no more
than a 20% change in the maximum aggregate offering price set forth
in the "Calculation of Registration Fee" table in the
effective Registration Statement; and
(iii)
To include any material information with respect to the plan of
distribution not previously disclosed in the Registration Statement
or any material change to such information in the Registration
Statement;
Provided, however
, that
paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the
Registration Statement is on Form S-8, and the information required
to be included in a post-effective amendment by those paragraphs is
contained in reports filed with or furnished to the Commission by
the Registrant pursuant to Section 13 or Section 15(d) of the
Exchange Act that are incorporated by reference in this
Registration Statement.
(2)
That,
for the purpose of determining any liability under the Securities
Act, each such post-effective amendment shall be deemed to be a new
registration statement relating to the securities offered therein,
and the offering of such securities at that time shall be deemed to
be the initial bona fide offering thereof.
(3)
To
remove from registration by means of a post-effective amendment any
of the securities being registered which remain unsold at the
termination of the offering.
(b)
The
undersigned Registrant hereby undertakes that, for purposes of
determining any liability under the Securities Act, each filing of
the Registrant's annual report pursuant to Section 13(a) or
Section 15(d) of the Exchange Act that is incorporated by reference
in this Registration Statement shall be deemed to be a new
registration statement relating to the securities offered therein,
and the offering of such securities at that time shall be deemed to
be the initial bona fide offering thereof.
(c)
Insofar
as indemnification for liabilities arising under the Securities Act
may be permitted to directors, officers and controlling persons of
the Registrant pursuant to the foregoing provisions, or otherwise,
the Registrant has been advised that in the opinion of the
Commission such indemnification is against public policy as
expressed in the Securities Act and is, therefore, unenforceable.
In the event that a claim for indemnification against such
liabilities (other than the payment by the Registrant of expenses
incurred or paid by a director, officer or controlling person of
the Registrant in the successful defense of any action, suit or
proceeding) is asserted by such director, officer or controlling
person in connection with the securities being registered, the
Registrant will, unless in the opinion of its counsel the matter
has been settled by controlling precedent, submit to a court of
appropriate jurisdiction the question whether such indemnification
by it is against public policy as expressed in the Securities Act
and will be governed by the final adjudication of such
issue.
7
SIGNATURES
Pursuant
to the requirements of the Securities Act of 1933, the Registrant
certifies that it has reasonable grounds to believe that it meets
all of the requirements for filing on Form S-8 and has duly caused
this Registration Statement to be signed on its behalf by the
undersigned, thereunto duly authorized, in the city of Cottonwood
Heights, Utah, on September 26, 2019.
DYNATRONICS CORPORATION
By:
/s/
Brian
D. Baker
Brian
D. Baker
President and Chief Executive Officer
P
OWER OF ATTORNEY
Each
person whose signature appears below constitutes and appoints Brian
D. Baker and David A. Wirthlin and James Ogilvie, and each of them
singly, his true and lawful attorneys-in-fact and agents, with full
power of substitution and resubstitution in each of them singly,
for him and in his name, place and stead, and in any and all
capacities, to sign any and all amendments (including
post-effective amendments) to this Registration Statement on Form
S-8 of Dynatronics Corporation, and to file the same, with all
exhibits thereto and other documents in connection therewith, with
the Securities and Exchange Commission, granting to the
attorneys-in-fact and agents, and each of them, full power and
authority to do and perform each and every act and thing requisite
or necessary to be done in or about the premises, as full to all
intents and purposes as he might or could do in person, hereby
ratifying and confirming all that the attorneys-in-fact and agents
or any of each of them or their substitute may lawfully do or cause
to be done by virtue hereof.
Pursuant
to the requirements of the Securities Act of 1933, this
Registration Statement has been signed by the following persons in
the capacities and on the dates indicated.
Signature
Title
Date
/s/
Brian D. Baker
Brian D. Baker
/s/
David A. Wirthlin
President and Chief Executive Officer (Principal Executive Officer)
and Director
September 26, 2019
David A. Wirthlin
/s/
Erin S. Enright
Chief Financial Officer and Secretary (Principal Financial and
Accounting Officer)
September 26, 2019
Erin S. Enright
/s/
Kelvyn H. Cullimore, Jr.
Director/Chairman
September 26, 2019
Kelvyn H. Cullimore, Jr.
/s/ David B. Holtz
Director
September 26, 2019
David B. Holtz
/s/ Scott A. Klosterman
Director
September 26, 2019
Scott A. Klosterman
/s/ Brian M. Larkin
Director
September 26, 2019
Brian M. Larkin
/s/ R.
Scott Ward
Director
September 26, 2019
R.
Scott Ward, Ph.D.
Director
September 26, 2019
8
EXHIBIT INDEX
Exhibit No.
Description of Document
3.1
Amended and
Restated Articles of Incorporation (1)
3.2
Amended and
Restated Bylaws of the Registrant (2)
3.3
Certificate
Designating the Preferences, Rights and Limitations of the Series A
8% Convertible Preferred Stock of the Registrant (Corrected)
(3)
3.4
Certificate of
Designations, Preferences and Rights of Series B Convertible
Preferred Stock of the Registrant (4)
3.5
Certificate of
Designations, Preferences and Rights of the Series C Non-voting
Convertible of the Registrant (5)
3.6
Certificate of
Designations, Preferences and Rights of the Series D Non-voting
Convertible of the Registrant (6)
4.2
Dynatronics
Corporation 2018 Equity Incentive Plan (7)
4.3
Form of Incentive
Stock Option Agreement (8)
4.4
Form of
Non-Statutory Stock Option Agreement (8)
4.5
Form of Notice of
Award of Restricted Stock Units and Restricted Stock Unit Award
Agreement (8)
4.6
Form of Restricted
Stock Agreement(8)
5.1
Opinion of Durham
Jones & Pinegar, P.C. (8)
23.1
Consent of Tanner
LLC, Independent Registered Public Accounting Firm (8)
24.1
Power of Attorney
(included as part of the signature page to this Registration
Statement and incorporated herein by reference) (8)
————————
(1)
Incorporated by
reference to Exhibit 3.1 of the Registrant
'
s Form S-3 filed with the Securities
and Exchange Commission on January 27, 2017 (File No.
333-215800).
(2)
Incorporated by
reference to Exhibit 3.2 of the Registrant
'
s Current Report on Form 8-K filed
with the Securities and Exchange Commission on July 22, 2015 (File
No. 001-12697).
(3)
Incorporated by
reference to Exhibit 3.1 of the Registrant
'
s Current Report on Form 8-K filed
with the Securities and Exchange Commission on July 1, 2015 (File
No. 001-12697).
(4)
Incorporated by
reference to Exhibit 3.1 to the Registrant
'
s Current Report on Form 8-K filed
with the Securities and Exchange Commission on April 4, 2017 (File
No. 001-12697).
(5)
Incorporated by
reference to Exhibit 3.1 to the Registrant
'
s Current Report on Form 8-K filed
with the Securities and Exchange Commission on October 6, 2017
(File No. 001-12697).
(6)
Incorporated by
reference to Exhibit 3.2 to the Registrant
'
s Current Report on Form S-K filed
with the Securities and Exchange Commission on October 4, 2018
(File No. 001-12697).
(7)
Incorporated by
reference to Appendix A to the Registrant
'
s Definitive Proxy Statement on
Schedule 14A filed with the Securities and Exchange Commission on
October 10, 2018 (File No. 001-12697).
(8)
Filed
herewith.
9