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.
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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.
GeneLink, Inc.
(Registrant)
By: /s/ Monte E. Taylor, Jr.
Monte E. Taylor, Jr.
Chief Executive Officer
Dated: December 19, 2008
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