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: January 21, 2002
INNOVATIVE MEDICAL SERVICES
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(Exact name of registrant as specified in its charter)
California 33-0530289
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(State or other jurisdiction (I.R.S. Employer
of incorporation or organization) Identification No.)
1725 Gillespie Way, El Cajon, California 92020
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(Address of principal executive offices)(Zip Code)
(619) 596 8600
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(Registrant's telephone number, including area code)
Item 5. Other Information
On January 15, 2002, Bergen Brunswig Corporation, the supplier of the vitamins,
minerals, nutritional supplements, homeopathic remedies and natural products
sold on our Nutripure.com website terminated our distribution license for these
products. As a result, we have closed our e-commerce division. Sales to date
from the e-commerce division have been minimal and closing the e-commerce
division will result in cost savings of approximately $35,000 per quarter in
maintenance and service fees, amortization and labor costs. In the present
fiscal quarter ending January 31, 2002. we anticipate writing off approximately
$70,000 of the value attributed to the Bergen Brunswig Corporation license. The
website software with a value of approximately $75,000 will be held as an asset
for resale.
Item 7. Financial Statements and Exhibits: None
SIGNATURE
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 thereunder duly authorized.
INNOVATIVE MEDICAL SERVICES
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(Registrant)
By /s/ Michael L. Krall
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Michael L. Krall, President
January 21, 2002