IPIX Corporation 8-K 03/16/06
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): March
13, 2006
IPIX
CORPORATION
(Exact
name of registrant as specified in its charter)
|
DELAWARE
|
000-26363
|
52-2213841
|
|
(State
or other
|
(Commission
|
(IRS
Employer
|
|
jurisdiction
of incorporation)
|
File
Number)
|
Identification
Number)
|
12120
SUNSET HILLS ROAD, SUITE 410 RESTON, VIRGINIA 20910
(Address
of principal executive offices)
(Zip Code)
Registrant's
telephone number, including area code: (703)
674-4100
N/A
(Former
name or former address, if changed since last report)
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))
ITEM
1.02. TERMINATION OF A MATERIAL DEFINITIVE AGREEMENT.
On
March
13, 2006, the Company agreed to terminate, effective March 8, 2006, the lease
agreement it entered into on February 3, 2005 with Oak Ridge Technical Center
Partners - One, L.P. , which was previously filed as Exhibit 10.17 to the
Company's Form 10-K filed on March 31, 2005. The terms of the agreement to
terminate included IPIX's agreement to pay Oak Ridge Technical Center Partners
-
One, L.P. (1) a one-time, lump-sum payment in the amount of $198,500, due and
payable immediately; (2) prorated rent through March 8, 2006 - $5,606, and
(3)
prorated Tenant Improvement expense though March 8, 2006 - $596.
Oak
Ridge
Technical Center Partners - One, L.P. has agreed to: (1) act as intermediary
in
the sale of IPIX’s furniture to a third party for $40,000.00; and (2) deduct
that amount from the above payments due from IPIX. A copy of the agreement
setting forth the terms of the termination is filed with this Current Report
as
Exhibit 10.1.
ITEM
9.01. FINANCIAL STATEMENTS AND EXHIBITS.
(c)
Exhibits.
| |
|
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Exhibit No.
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Description
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|
10.1
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Amendment
A Termination of Lease dated March 13, 2006 by and between IPIX
Corporation and Oak Ridge Technical Center Partners - One,
L.P.
|
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.
IPIX
CORPORATION
Dated:
March 16, 2006 /s/
Charles A. Crew
Charles
A. Crew
Chief
Financial Officer