Form 8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 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):

March 26, 2007

 

SCOLR Pharma, Inc.

(Exact name of registrant as specified in its charter)

 

 

Delaware   001-31982   91-1689591
(State or other jurisdiction
of incorporation)		   (Commission File No.)   (I.R.S. Employer
Identification No.)

3625 132nd Avenue SE, Suite 400

Bellevue, WA 98006

(Address of principal executive offices)

(425) 373-0171

(Registrant’s telephone number, including area code)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

As used in this Current Report on Form 8-K, unless the context otherwise requires, the terms “we,” “us,” “the Company,” and “SCOLR” refer to SCOLR Pharma, Inc., a Delaware corporation.

 

Item 1.01 Entry into a Material Definitive Agreement.

The information set forth in Item 2.03 below is hereby incorporated by reference into this Item 1.01.

 

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

On March 26, 2007, we entered into a $250,000 term loan agreement with Silicon Valley Bank for the purchase of equipment to be used in our research and development activities. The stated interest rate and effective interest rate of the loan are 8.25% (current prime rate) and 9.34%, respectively. We agreed to make 36 equal monthly principal and interest payments of $7,877 each, with a final payment due in March 2010. The obligations under the loan are secured by the acquired equipment and the agreement contains customary default provisions.

 

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

    SCOLR PHARMA, INC.
Dated: March 29, 2007   By:  

/s/ Daniel O. Wilds

    Daniel O. Wilds
    President and Chief Executive Officer

 

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