<SEC-DOCUMENT>0001204459-12-000782.txt : 20120413
<SEC-HEADER>0001204459-12-000782.hdr.sgml : 20120413
<ACCEPTANCE-DATETIME>20120413135415
ACCESSION NUMBER:		0001204459-12-000782
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20120413
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20120413
DATE AS OF CHANGE:		20120413

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Security Devices International Inc.
		CENTRAL INDEX KEY:			0001354866
		STANDARD INDUSTRIAL CLASSIFICATION:	MISCELLANEOUS ELECTRICAL MACHINERY, EQUIPMENT & SUPPLIES [3690]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1130

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	333-132456
		FILM NUMBER:		12758258

	BUSINESS ADDRESS:	
		STREET 1:		1101 PENNSYLVANIA AVE NW
		STREET 2:		6TH FLOOR
		CITY:			WASHINGTON
		STATE:			DC
		ZIP:			20004
		BUSINESS PHONE:		647-388-1117

	MAIL ADDRESS:	
		STREET 1:		338 CHURCH STREET
		CITY:			OAKVILLE
		STATE:			A6
		ZIP:			L6J 1P1
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>form8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>

<HTML>
<HEAD>
   <TITLE>Security Devices International Inc.: Form 8-K - Filed by newsfilecorp.com</TITLE>

</HEAD>

<BODY style="font-size:10pt;">

<HR noshade align="center" width=100% size=3 color="black">
<A name=page_1></A>
<P align=center><B><FONT size=5>UNITED STATES </FONT></B><BR><B><FONT
size=5>SECURITIES AND EXCHANGE COMMISSION </FONT></B><BR><B>WASHINGTON, D.C.
20549 </B><BR></P>
<P align=center><B><FONT size=5>FORM 8-K </FONT></B></P>
<P align=center><B>CURRENT REPORT </B><BR><B>PURSUANT TO SECTION 13 OR 15(D) OF
THE </B><BR><B>SECURITIES EXCHANGE ACT OF 1934 </B><BR></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=center><B>March 13 2012 </B></TD>
    <TD align=center width="50%"><B>333-132456 </B></TD></TR>
  <TR vAlign=top>
    <TD align=center><I>Date of Report (Date of earliest event reported)
    </I></TD>
    <TD align=center width="50%"><I>Commission File Number
</I></TD></TR></TABLE>
<P align=center><B><FONT size=5>SECURITY DEVICES INTERNATIONAL, INC.
</FONT></B><BR><I>(Exact name of registrant as specified in its charter)
</I><BR></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=center><B>Delaware </B></TD>
    <TD align=center width="50%"><B>71-1050654 </B></TD></TR>
  <TR vAlign=top>
    <TD align=center><I>(State or other jurisdiction of incorporation or
    </I></TD>
    <TD align=center width="50%"><I>(I.R.S. Employer Identification Number)
      </I></TD></TR>
  <TR vAlign=top>
    <TD align=center><I>organization) </I></TD>
    <TD align=center width="50%">&nbsp; </TD></TR></TABLE>
<P align=center><B>1101 Pennsylvania Ave NW, 6th Floor</B><BR><B>Washington, DC
20004 </B><BR><I>(Address of Principal Executive Offices) (Zip Code)
</I><B></B><BR></P>
<P align=center><B>202-538.1677 </B><BR><I>(Registrant&#146;s telephone number,
including area code) </I><BR></P>
<P align=justify>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: </P>
<P align=justify>[&nbsp; &nbsp;] Written communications pursuant to Rule 425
under the Securities Act (17 CFR 230.425)</P>
<P align=justify>[&nbsp; &nbsp;] Soliciting material pursuant to Rule 14a-12
under the Exchange Act (17 CFR 240.14a -12)</P>
<P align=justify>[&nbsp; &nbsp;] Pre-commencement communications pursuant to
Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d -2(b))</P>
<P align=justify>[&nbsp; &nbsp;] Pre-commencement communications pursuant to
Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e -4(c))</P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_2></A>
<P align=justify><B>Item 1.01 Entry into a Material Definitive Agreement</B></P>
<P align=justify>On March 13, 2012, Security Devices International Inc. (the
&#147;Company&#148;) entered into a definitive agreement with Elad Engineering Ltd.
(&#147;Elad&#148;). Elad has performed over the past several years, research and
development services for the Company in the less&#150;than-lethal ammunitions sector,
for the development of a less-than-lethal-electric-projectile and later on, a
blunt impact projectile (&#147;Prior Services&#148;). The Company had debt owing to Elad
in excess for $300,000 for past services as of the date of the definitive
agreement. Both parties agreed to irrevocably waive and release the other from
any claim, demand or action in connection with its engagement with the other
party for Prior Services subject to payment of $100,000 by the Company to Elad
no later than March 20, 2012, and the balance owing by the Company to Elad to be forgiven and waived by Elad. The company completed
the final payment of $100,000 by the due date, and extinguished its debt
payable. In addition, the Company has executed as part of this agreement with
Elad, a full waiver and release, which includes confidentiality and non-compete
clauses for the Company&#146;s products. </P>
<P align=justify>Further, as per terms of the agreement, the carriage of
existing patent applications being prosecuted on the Company&#146;s behalf by Elad
are to be transferred to the Company&#146;s patent counsel in the United States as
soon as possible following the debt retirement on March 20, 2012. In addition,
all of the issued and outstanding stock options for common shares in the
Company&#146;s capital stock previously issued to Elad, Ilan Shalev and Haim Danon
(being principals of Elad) are to be converted into warrants on terms identical
to the terms of the existing stock options in the Company. The Company may
retain future services of Elad for ongoing maintenance of existing projects
created through Prior Services, to be discussed under separate letter form to
the agreement. </P>
<P align=justify><B>Item 9.01 Financial Statements and Exhibits</B></P>
<P align=justify>(a)&nbsp;&nbsp; <B>Financial Statements of Business
Acquired.</B></P>
<P align=justify>Not applicable.</P>
<P align=justify>(b)&nbsp;&nbsp; <B>Pro Forma Financial Information.</B></P>
<P align=justify>Not applicable.</P>
<P align=justify>(c)&nbsp;&nbsp; <B>Shell Company Transaction.</B></P>
<P align=justify>Not applicable.</P>
<P align=justify>(d)&nbsp; &nbsp;<B>Exhibits.</B></P>
<P align=justify>Not applicable. </P>
<P align=center>2 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<P align=center><B>SIGNATURES </B></P>
<P align=justify>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.</P>
<P style="MARGIN-LEFT: 50%" align=justify>SECURITY DEVICES INTERNATIONAL
INC.</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left>April 13, 2012 </TD>
    <TD align=left width="50%"><U>/s/ Greg
      Sullivan&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      </U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="50%">Name: Greg Sullivan </TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="50%">Title: President </TD></TR></TABLE><BR>
<HR align=center width="100%" color=black noShade SIZE=5>

</BODY>

</HTML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
