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
December 1, 2005
Date of Report (date of earliest event reported)
BIOMERICA, INC.
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(Exact Name of Registrant as Specified in its Charter)
Delaware 0-8765 95-2645573
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(State or Other (Commission (IRS Employee
Jurisdiction of File Number) Identification
Number)
1533 Monrovia Avenue
Newport Beach, California 92663
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(Address of Principal Executive Offices
Including Zip Code)
949-645-2111
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(Registrant's Telephone Number,
Including Area Code)
__________
(Former Name or Former Address if Changed
Since Last Report)
Table of Contents:
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8.01 Other Events.
Item 8.01 Other Events.
Historically, certain Biomerica, Inc. ("Biomerica"), board members who
owned shares of common stock of Lancer Orthodontics, Inc. ("Lancer"), had agreed
to vote their shares of Lancer common stock in the same manner as the Biomerica
board voted its shares of Lancer common stock for issues requiring the vote of
Lancer's stockholders. These agreements, when combined with Biomerica's
ownership interests in Lancer, resulted in Biomerica controlling over 50% of
Lancer's voting securities and a consolidation of Lancer's financial statements
into Biomerica's financial statements. As of December 1, 2005, the
above-mentioned Biomerica board members reserved their right no longer to vote
their shares of Lancer in the same manner as the Biomerica board votes
Biomerica's shares of Lancer. Therefore, effective as of December 1, 2005,
Lancer's financial statements will no longer be consolidated with those of
Biomerica because Biomerica will no longer have direct or indirect control of
more than 50% of Lancer's common stock. As of December 1, 2005, Biomerica holds
less than 20% of Lancer's common stock and therefore Biomerica's investment in
Lancer will be accounted for using the cost method.
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.
BIOMERICA, INC.
Dated: December 1, 2005 By: /s/ Zackary S. Irani
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Name: Zackary S. Irani
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Title: Chief Executive Officer