UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): September 29, 2003
APPLIED DNA SCIENCES , INC.
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(Exact name of registrant as specified in its charter)
Nevada 2 90519 59-2262718
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(State or other jurisdiction Commission (IRS Employer
of Incorporation) File Number Identification No.)
9225 Sunset Boulevard Los Angeles, CA 90069
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(Address of principal executive offices) (Zip Code)
Registrant's Telephone Number, including area code: (310) 246-1720
(Former name or former address, if changed since last report.)
Item 5. Other Information
On September 29, 2003, Applied DNA Sciences, Inc. (the "company", "we", "us" or
"our") announced its first international sublicense for the United Kingdom
territory. Applied DNA Sciences, Inc. , Biowell Technology, Inc. and G. A.
Corporate Finance Ltd. entered into a Sub-License Agreement in exchange for a
one time nonrefundable discounted franchise fee of $3,000,000. G. A. Corporate
Finance Ltd's. initial payment of $25,000 was due upon the execution of the
Agreement on August 27, 2003, and the remaining $2,975,000 is subject to an
interest bearing promissory note, payable in twenty (20) consecutive quarterly
installments of Principal and Interest in the amount equal to the lower of
$185,937.50 or 35% of Gross Revenues for that quarter due on the final day of
the quarter.
We provide security solutions for the protection of corporate, personal and
intellectual property from counterfeit and fraud by utilizing a proprietary line
of DNA embedded-biotechnology products. Its products and services will be
offered to corporations and government agencies and will be accompanied with
monitoring and enforcement support.
Applied DNA Sciences, Inc. has an exclusive licensing and partnership agreement
with Biowell Technology, Inc. of Taiwan. Our initial territories include North
America and Europe. We are positioned to be the market leader in sales,
marketing, and sub-licensing of the DNA products developed by Biowell Technology
in the world's largest markets.
It is our intention to seek alliances with existing anti-counterfeit networks in
each market and to train these networks to use our technology to detect and
monitor counterfeit and fraud, using our own anti-counterfeit and security
experts to help detect counterfeiting attempts against corporations and
government agencies.
Exhibit List
10.3 Exclusive Sub License Agreement, United Kingdom
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
APPLIED DNA SCIENCES, INC.
/s/ Lawrence C. Lee
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Lawrence C. Lee
President and Chief Executive Officer