UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
10-K/A
(Amendment
No.1)
(Mark
One)
[X]
ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934
For
the fiscal year ended December 31, 2019
[ ]
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934
For
the transition period from ____________ to ____________
Commission
file number: 001-36268
Akers
Biosciences, Inc.
(Exact
name of registrant as specified in its charter)
New
Jersey |
|
22-2983783 |
(State
or other jurisdiction of
incorporation
or organization) |
|
(I.R.S.
Employer
Identification
Number) |
201
Grove Road
Thorofare,
NJ |
|
08086 |
(Address
of principal executive offices) |
|
(Zip
Code) |
Registrant’s
telephone number, including area code: (856) 848-8698
Securities
registered pursuant to Section 12(b) of the Act:
Title
of Each Class: |
|
Trading
Symbol(s) |
|
Name
of Each Exchange on Which Registered: |
Shares
of common stock, no par value |
|
AKER |
|
The
NASDAQ Stock Market LLC |
Securities
registered pursuant to Section 12(g) of the Act: None
Indicate
by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes [ ]
No [X]
Indicate
by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Exchange Act. Yes
[ ] No [X]
Indicate
by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange
Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports),
and (2) has been subject to such filing requirements for the past 90 days. Yes [X] No [ ]
Indicate
by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant
to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that
the registrant was required to submit and post such files). Yes [X] No [ ]
Indicate
by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting
company or an emerging growth company. See definition of “large accelerated filer,” “accelerated filer, “smaller
reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large
accelerated filer |
|
[ ] |
|
Accelerated
filer |
|
[ ] |
Non-accelerated
filer |
|
[X] |
|
Smaller
reporting company |
|
[X] |
Emerging
growth company |
|
[ ] |
|
|
|
|
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for
complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ]
Indicate
by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes [ ] No
[X]
The
aggregate market value of the voting and non-voting common equity held by non-affiliates of the registrant on June 28, 2019, based
on a closing price of $10.80 was $5,835,000. As of March 24, 2020, the registrant had 2,700,240 shares of its common stock, no
par value per share, outstanding.
DOCUMENTS
INCORPORATED BY REFERENCE
None.
EXPLANATORY
NOTE
This
Amendment No. 1 to the Annual Report on Form 10-K of Akers Biosciences, Inc. (the “Company”) for the
year ended December 31, 2019 as filed with the Securities and Exchange Commission on March 25, 2020 (the “Original Form
10-K”) is being filed only for the purpose of providing a composite list of the Company’s amended and restated
certificate of incorporation and the amendments thereto.
Except
as otherwise expressly noted herein, this Amendment No. 1 does not modify or update in any way the Original Form 10-K, nor does
it reflect events occurring after the filing of the Original Form 10-K. Accordingly, this Amendment No. 1 should be read in conjunction
with the Original Form 10-K.
PART
IV
Item
15. Exhibits, Financial Statement Schedules.
No
financial statements are filed with this Amendment No. 1. These items were included as part of the Original Form 10-K.
(2) |
Financial
Statements Schedule |
None.
Exhibit
Number |
|
Description |
|
|
|
3.1 |
|
Amended
& Restated Certificate of Incorporation (incorporated herein by reference to Exhibit 3.1 to the Company’s Registration
Statement on Form S-1 filed with the Securities and Exchange Commission on August 7, 2013). |
|
|
|
3.2± |
|
Certificate
of Amendment to Certificate of Incorporation dated May 31, 2005. |
|
|
|
3.3± |
|
Certificate
of Amendment to Certificate of Incorporation dated December 20, 2006. |
|
|
|
3.4 |
|
Amendment
to Certificate of Incorporation dated June 2, 2008 (incorporated herein by reference to Exhibit 3.2 to the Company’s
Registration Statement on Form S-1 filed with the Securities and Exchange Commission on August 7, 2013). |
|
|
|
3.5 |
|
Amendment
to Certificate of Incorporation, Certificate of Designation of Series A Preferred Stock, dated September 21, 2012. (incorporated
herein by reference to Exhibit 3.3 to the Company’s Registration Statement on Form S-1 filed with the Securities and
Exchange Commission on August 7, 2013). |
|
|
|
3.6 |
|
Amendment
to Certificate of Incorporation dated January 22, 2013 (incorporated herein by reference to Exhibit 3.4 to the Company’s
Registration Statement on Form S-1 filed with the Securities and Exchange Commission on August 7, 2013). |
|
|
|
3.7 |
|
Amended
and Restated By-laws dated August 5, 2013 (incorporated herein by reference to Exhibit 3.5 to the Company’s Registration
Statement on Form S-1 filed with the Securities and Exchange Commission on August 7, 2013). |
|
|
|
3.8 |
|
Amendment
to Restated By-laws dated May 11, 2016 (incorporated herein by reference to Exhibit 3.6 to the Company’s Current Report
on Form 8-K filed with the Securities and Exchange Commission on May 18, 2016). |
|
|
|
3.9 |
|
Certificate
of Amendment to Certificate of Incorporation, Certificate of Designation of Series B Convertible Preferred Stock, dated December
19, 2017 (incorporated herein by reference to Exhibit 3.1 to the Company’s Current Report on Form 8-K filed with the
Securities and Exchange Commission on December 26, 2017). |
|
|
|
3.10 |
|
Amendment
to Amended and Restated By-Laws, dated October 19, 2018 (incorporated herein by reference to Exhibit 3.1 to the Company’s
Current Report on Form 8-K filed with the Securities and Exchange Commission on October 19, 2018). |
|
|
|
3.11 |
|
Certificate
of Amendment (incorporated herein by reference to Exhibit 3.1 to the Company’s Current Report on Form 8-K filed with
the Securities and Exchange Commission on November 9, 2018). |
|
|
|
3.12* |
|
Certificate
of Designation of Series C Convertible Preferred Stock, dated December 9, 2019. |
|
|
|
3.13± |
|
Certificate
of Amendment to the Certificate of Incorporation. |
|
|
|
3.14 |
|
Certificate
of Amendment to Certificate of Incorporation dated November 15, 2019 (incorporated herein by reference to Exhibit 3.1 to the
Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on November 29, 2019). |
|
|
|
3.15 |
|
Certificate of Amendment to Certificate of Incorporation dated November 22, 2019 (incorporated herein by reference to Exhibit 3.2 to the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on November 29, 2019). |
|
|
|
3.16 |
|
Certificate
of Designation of Preferences, Rights and Limitations of Series D Convertible Preferred Stock (incorporated herein by reference
to Exhibit 3.1 to the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on March
24, 2020). |
|
|
|
4.1 |
|
Form
of Underwriters’ Warrant (incorporated by reference to Exhibit 4.1 to the to the Company’s Registration Statement
on Form S-1 filed with the Securities Exchange Commission on November 18, 2013). |
4.2 |
|
Form
of Warrant (incorporated herein by reference to Exhibit 4.1 to the Company’s Current Report on Form 8-K filed with the
Securities and Exchange Commission on January 10, 2017). |
|
|
|
4.3 |
|
Form
of Purchaser Warrant (incorporated herein by reference to Exhibit 4.1 to the Company’s Current Report on Form 8-K filed
with the Securities and Exchange Commission on April 5, 2017). |
|
|
|
4.4 |
|
Form
of Placement Agent Warrant (incorporated herein by reference to Exhibit 4.2 to the Company’s Current Report on Form
8-K filed with the Securities and Exchange Commission on April 5, 2017). |
|
|
|
4.5 |
|
Form
of Purchaser Warrant (incorporated herein by reference to Exhibit 4.1 to the Company’s Current Report on Form 8-K filed
with the Securities and Exchange Commission on October 13, 2017). |
|
|
|
4.6 |
|
Form
of Underwriter’s Warrant (incorporated herein by reference to Exhibit 4.1 to the Company’s Registration Statement
on Form S-1 filed with the Securities and Exchange Commission on December 15, 2017). |
|
|
|
4.7 |
|
Form
of Common Stock Purchase Warrant (incorporated herein by reference to Exhibit 4.1 to the Company’s Registration Statement
on Form S-1 filed with the Securities and Exchange Commission on December 15, 2017). |
|
|
|
4.8 |
|
Form
of Warrant (incorporated herein by reference to Exhibit 4.1 to the Company’s Current Report on Form 8-K filed with the
Securities and Exchange Commission on October 31, 2018). |
|
|
|
4.9 |
|
Form
of Series C Convertible Preferred Stock Warrant Certificate (incorporated herein by reference to Exhibit 4.9 to the Company’s
Registration Statement on Form S-1/A filed with the Securities and Exchange Commission on November 29, 2019). |
|
|
|
4.10 |
|
Form
of Pre-Funded Warrant Certificate (incorporated herein by reference to Exhibit 4.10 to the Company’s Registration Statement
on Form S-1/A filed with the Securities and Exchange Commission on November 29, 2019). |
|
|
|
4.11 |
|
Form
of Placement Agent Warrant Certificate (incorporated herein by reference to Exhibit 4.11 to the Company’s Registration
Statement on Form S-1/A filed with the Securities and Exchange Commission on November 29, 2019). |
|
|
|
4.12* |
|
Description
of Securities. |
|
|
|
10.1 |
|
Amended
License and Supply Agreement by and between Akers Biosciences, Inc. and Chubeworkx Guernsey Limited (as successor to Sono
International Limited) (“Chubeworkx”), (EN)10 (Guernsey) Limited (formerly BreathScan International (Guernsey)
Limited) and (EN)10 Limited (formerly BreathScan International Limited), dated June 12, 2013 (incorporated herein by reference
to Exhibit 10.4 to the Company’s Registration Statement on Form S-1 filed with the Securities and Exchange Commission
on August 7, 2013). |
|
|
|
10.2 |
|
Share
Purchase Agreement by and between Akers Biosciences, Inc. and Chubeworkx, dated June 12, 2013. (incorporated herein by reference
to Exhibit 10.5 to the Company’s Registration Statement on Form S-1 filed with the Securities and Exchange Commission
on August 7, 2013). |
|
|
|
10.3 |
|
Subscription
Agreement by and between Akers Biosciences, Inc. and Chubeworkx, dated June 12, 2013(incorporated herein by reference to Exhibit
10.7 to the Company’s Registration Statement on Form S-1 filed with the Securities and Exchange Commission on August
7, 2013). |
|
|
|
10.4 |
|
Subscription
Agreement by and between Akers Biosciences, Inc. and Thomas J. Knox, dated September 14, 2012(incorporated herein by reference
to Exhibit 10.8 to the Company’s Registration Statement on Form S-1 filed with the Securities and Exchange Commission
on August 7, 2013). |
10.5 |
|
Promissory
Note entered into by Thomas J Knox issued in favor of Akers Biosciences, Inc., dated September 14, 2012. (incorporated herein
by reference to Exhibit 10.9 to the Company’s Registration Statement on Form S-1 filed with the Securities and Exchange
Commission on August 7, 2013). |
|
|
|
10.6 |
|
License
and Supply Agreement by and among the Company, Sono International Limited (“SIL”), BreathScan International (Guersney)
Limited and BreathScan International Limited, dated June 19, 2012 (incorporated herein by reference to Exhibit 10.10 to the
Company’s Registration Statement on Form S-1/A filed with the Securities and Exchange Commission on October 8, 2013). |
|
|
|
10.7 |
|
Distribution
Agreement by and among the Company and Fisher Healthcare, and Amendment thereto, dated June 15, 2010 and May 1, 2012, respectively.
(incorporated herein by reference to Exhibit 10.11 to the Company’s Registration Statement on Form S-1/A filed with
the Securities and Exchange Commission on October 8, 2013). |
10.8 |
|
National
Brand Distribution Agreement by and among the Company and Cardinal Health 2000, and Amendment thereto, dated May 1, 2007 and
June 1, 2008, respectively. (incorporated herein by reference to Exhibit 10.12 to the Company’s Registration Statement
on Form S-1/A filed with the Securities and Exchange Commission on October 8, 2013). |
|
|
|
10.9# |
|
2013
Incentive Stock and Award Plan (incorporated herein by reference to Exhibit 10.14 to the Company’s Registration Statement
on Form S-1/A filed with the Securities and Exchange Commission on December 6, 2013). |
|
|
|
10.10# |
|
Form
of Nonqualified Stock Option Agreement (Non-Employee) (incorporated herein by reference to Exhibit 10.15 to the Company’s
Registration Statement on Form S-1/A filed with the Securities and Exchange Commission on December 6, 2013). |
|
|
|
10.11# |
|
Form
of Nonqualified Stock Option Agreement (Employee) (incorporated herein by reference to Exhibit 10.16 to the Company’s
Registration Statement on Form S-1/A filed with the Securities and Exchange Commission on December 6, 2013). |
|
|
|
10.12# |
|
Form
of Restricted Stock Agreement (incorporated herein by reference to Exhibit 10.17 to the Company’s Registration Statement
on Form S-1/A filed with the Securities and Exchange Commission on December 6, 2013). |
|
|
|
10.13# |
|
Form
of Incentive Stock Option (incorporated herein by reference to Exhibit 10.18 to the Company’s Registration Statement
on Form S-1/A filed with the Securities and Exchange Commission on December 6, 2013). |
|
|
|
10.14 |
|
Letter
Agreement, dated December 3, 2013, by and between the Company and Mr. Thomas Knox (incorporated herein by reference to Exhibit
10.19 to the Company’s Registration Statement on Form S-1/A filed with the Securities and Exchange Commission on December
6, 2013). |
|
|
|
10.15 |
|
Joint
Venture Agreement, dated October 24, 2014, by and between Akers Biosciences, Inc., Hainan Savy Investment Management Ltd,
and Thomas Knox (incorporated herein by reference to Exhibit 10.1 to the Company’s Current Report on Form 8-K filed
with the Securities and Exchange Commission on October 29, 2014). |
|
|
|
10.16 |
|
Amended
and Restated 2013 Incentive Stock and Award Plan (incorporated herein by reference to Exhibit 10.1 to the Company’s
Current Report on Form 8-K filed with the Securities and Exchange Commission on January 9, 2015). |
10.17 |
|
Form
of Lock Up Agreement (incorporated herein by reference to Exhibit 10.2 to the Company’s Current Report on Form 8-K filed
with the Securities and Exchange Commission on January 9, 2015). |
|
|
|
10.18# |
|
Employment
Agreement between the Company and John J Gormally, dated December 1, 2015. (incorporated herein by reference to Exhibit 10.1
to the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on December 3, 2015). |
|
|
|
10.19 |
|
First
Amendment to the Amended and Restated 2013 Incentive Stock and Award Plan (incorporated by referenced to Exhibit 10.2 to the
Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on October 12, 2016). |
|
|
|
10.20 |
|
Form
of Placement Agency Agreement, dated March 30, 2017, by and between Akers Biosciences, Inc. and Joseph Gunnar and Co., LLC
(incorporated herein by reference to Exhibit 10.1 to the Company’s Current Report on Form 8-K filed with the Securities
and Exchange Commission on April 5, 2017). |
|
|
|
10.21 |
|
Form
of Securities Purchase Agreement, dated March 30, 2017, by and between Akers Biosciences, Inc. and various purchasers. (incorporated
herein by reference to Exhibit 10.2 to the Company’s Current Report on Form 8-K filed with the Securities and Exchange
Commission on April 5, 2017). |
|
|
|
10.22 |
|
Form
Registration Rights Agreement, dated March 30, 2017, by and between Akers Biosciences, Inc. and various purchasers (incorporated
herein by reference to Exhibit 10.3 to the Company’s Current Report on Form 8-K filed with the Securities and Exchange
Commission on April 5, 2017). |
|
|
|
10.23# |
|
Akers
Biosciences, Inc. 2017 Equity Incentive Plan (incorporated herein by reference to Exhibit 10.1 to the Company’s Current
Report on Form 8-K filed with the Securities and Exchange Commission on August 8, 2017). |
|
|
|
10.24 |
|
Form
Warrant Exercise Agreement, dated October 12, 2017 by and between Akers Biosciences, Inc. and various holders (incorporated
herein by reference to Exhibit 10.1 to the Company’s Current Report on Form 8-K filed with the Securities and Exchange
Commission on October 13, 2017). |
|
|
|
10.25# |
|
Form
of Resignation Agreement (incorporated herein by reference to Exhibit 10.1 to the Company’s Current Report on Form 8-K
filed with the Securities and Exchange Commission on October 11, 2018). |
|
|
|
10.26# |
|
Offer
of Employment, dated October 5, 2018 (incorporated herein by reference to Exhibit 10.2 to the Company’s Current Report
on Form 8-K filed with the Securities and Exchange Commission on October 11, 2018). |
|
|
|
10.27 |
|
Form
of Securities Purchase Agreement, dated October 31, 2018, by and among the Company and the investors signatory thereto (incorporated
herein by reference to Exhibit 10.1 to the Company’s Current Report on Form 8-K filed with the Securities and
Exchange Commission on October 31, 2018). |
|
|
|
10.28 |
|
Akers
Biosciences, Inc. 2018 Equity Incentive Plan (incorporated herein by reference to Exhibit 10.1 to the Company’s Current
Report on Form 8-K filed with the Securities and Exchange Commission on December 7, 2018). |
|
|
|
10.29 |
|
Form
of Securities Purchase Agreement (incorporated herein by reference to Exhibit 10.29 to the Company’s Registration
Statement on Form S-1/A filed with the Securities and Exchange Commission on November 29, 2019). |
|
|
|
10.30# |
|
Offer
of Employment, dated January 6, 2020 (incorporated herein by reference to Exhibit 10.1 to the Company’s Current Report
on Form 8-K filed with the Securities and Exchange Commission on January 6, 2020). |
|
|
|
10.31# |
|
Offer
of Employment, dated January 31, 2020 (incorporated herein by reference to Exhibit 10.1 to the Company’s Current Report
on Form 8-K filed with the Securities and Exchange Commission on January 31, 2020). |
* |
Previously
filed with the Original Form 10-K. |
** |
Furnished
with the Original Form 10-K.
|
|
|
± |
Filed
herewith. |
|
|
# |
Management
contract or compensatory plan or arrangement. |
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf
of the Registrant.
|
AKERS
BIOSCIENCES, INC. |
|
|
|
Date:
October 21, 2020 |
By: |
/S/
Christopher C. Schreiber |
|
Name: |
Christopher
C. Schreiber |
|
Title: |
Executive
Chairman and President |
|
|
(Principal
Executive Officer) |