UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
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Date of Report (Date of earliest event reported): April 5, 2002
CYBERCARE, INC.
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(Exact name of registrant as specified in its charter)
FLORIDA 0-20356 65-0158479
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(State or other jurisdiction (Commission File Number) (IRS Employer ID
of incorporation) Number)
2500 QUANTUM LAKES DRIVE, SUITE 1000, BOYNTON BEACH, FLORIDA 33426
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(Address of principal executive offices)
Registrant's telephone number, including area code: 561-742-5000
Item 5 - Other Events
CyberCare, Inc. (the "Registrant") previously issued a promissory note dated
January 22, 2002 in the amount of $1,000,000 jointly to Dynamic Holdings, LLC
("Dynamic") and its principal (the "Original Dynamic Note"). At maturity, the
Original Dynamic Note was not satisfied. The Registrant refinanced the Original
Dynamic Note without any penalty by issuing to Dynamic a $1,250,000 convertible
promissory note dated April 5, 2002 (the "New Dynamic Note").
The Registrant also previously issued a promissory note dated February 25, 2002
in the amount of $230,000 to Dynamic (the "Bridge Note"). At maturity, the
Bridge Note was not satisfied. Subsequently, the Registrant satisfied the Bridge
Note through an offset against amounts borrowed under a $1,250,000 convertible
promissory note issued to Manford Investments, LLC ("Manford"), dated April 4,
2002 (the "Manford Note"). Manford and Dynamic are related entities.
The Original Dynamic Note and the Bridge Note have been retired and the
obligations under the Manford Note and the New Dynamic Note remain current.
CyberCare Technologies, Inc., the Registrant's wholly-owned subsidiary, is a
joint borrower under the Manford Note and the New Dynamic Note.
SIGNATURE
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 duly authorized.
Date: May 2, 2002 By: /s/ STEVEN M. COHEN
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Steven M. Cohen
Chief Financial Officer