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GNLK.OB > SEC Filings for GNLK.OB > Form 8-K on 23-Dec-2008All Recent SEC Filings

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Form 8-K for GENELINK INC


23-Dec-2008

Unregistered Sale of Equity Securities


ITEM 3.02 Unregistered Sales of Equity Securities
Through December 19, 2008, GeneLink, Inc. (the "Company") sold an aggregate of 5,885,000 shares of restricted Common Stock of the Company at a purchase price of $0.10 per share pursuant to a Confidential Private Offering Memorandum, and received an aggregate gross amount of $588,500. The Company is raising up to $1,000,000 in the Offering.
The Company also paid a total of $27,180 and issued warrants to acquire 339,750 shares of Common Stock of the Company at an exercise price of $0.10 per share to First Equity Capital Securities, Inc., its advisor for the Offering. Kenneth P. Levine, a holder of more than five percent of the Equity Securities of the Company is an officer and owner of First Equity Capital Securities.
The Company intends to use the proceeds of the Offering for, among other things:
working capital, marketing and promotion purposes, infrastructure development, patent presentation costs and expenses, paying accounts payable, and paying professional and consulting fees and expenses, including expenses relating to the litigation brought against the Company by its former chief executive officer and president and his spouse.

-2-


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.

GeneLink, Inc.
(Registrant)

By: /s/ Monte E. Taylor, Jr.
Monte E. Taylor, Jr.
Chief Executive Officer

Dated: December 19, 2008

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