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<SEC-DOCUMENT>0001079974-08-000286.txt : 20080229
<SEC-HEADER>0001079974-08-000286.hdr.sgml : 20080229
<ACCEPTANCE-DATETIME>20080229170622
ACCESSION NUMBER:		0001079974-08-000286
CONFORMED SUBMISSION TYPE:	424B3
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20080229
DATE AS OF CHANGE:		20080229

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ZYNEX MEDICAL HOLDINGS INC
		CENTRAL INDEX KEY:			0000846475
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTROMEDICAL & ELECTROTHERAPEUTIC APPARATUS [3845]
		IRS NUMBER:				870403828
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		424B3
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-148906
		FILM NUMBER:		08656814

	BUSINESS ADDRESS:	
		STREET 1:		8022 SOUTHPARK CIRCLE
		STREET 2:		SUITE 100,
		CITY:			LITTLETON
		STATE:			CO
		ZIP:			80120
		BUSINESS PHONE:		(303) 703-4906

	MAIL ADDRESS:	
		STREET 1:		8022 SOUTHPARK CIRCLE
		STREET 2:		SUITE 100,
		CITY:			LITTLETON
		STATE:			CO
		ZIP:			80120

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ZYNEX MEDICAL HOLDINGS   INC
		DATE OF NAME CHANGE:	20040120

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FOX RIVER HOLDINGS  INC
		DATE OF NAME CHANGE:	20031126

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ARIZONA VENTURES INC
		DATE OF NAME CHANGE:	20030115
</SEC-HEADER>
<DOCUMENT>
<TYPE>424B3
<SEQUENCE>1
<FILENAME>zynex424b3suppl_22908.htm
<DESCRIPTION>SUPPLEMENT TO PROSPECTUS
<TEXT>
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    <title>zynex424b3auppl_22908.htm</title>
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    <body bgcolor="#ffffff" style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Arial">
    <div>&#160;</div>
    <div>
      <div>
        <hr style="MARGIN-TOP: -5px; COLOR: #000000" noshade size="4">
        <hr style="MARGIN-TOP: -10px; COLOR: #000000" noshade size="1">
      </div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">Filed
pursuant to Rule 424(b)(3)</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">Registration
Statement No. 333-148906</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">PROSPECTUS
SUPPLEMENT NO. 1</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">(To
prospectus dated February 13, 2008)</font></div>
        <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
        <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">Zynex
Medical Holdings, Inc.</font></div>
        <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">2,273,006
shares of</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">common
stock</font></div>
        <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font id="TAB1" style="MARGIN-LEFT: 180pt"></font><br></div>
        <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">This
prospectus supplement no. 1 supplements the prospectus dated February&#160;13,
2008, relating to the resale by selling stockholders of 2,273,006 shares of
common stock of Zynex Medical Holdings, Inc. (&#8220;we&#8221; or &#8220;our&#8221;) issuable upon
exercise of outstanding warrants.&#160;&#160;This prospectus supplement should
be read in conjunction with the prospectus dated February&#160;13, 2008, which
is to be delivered with this prospectus supplement, and this prospectus
supplement is qualified by reference to the prospectus, except to the extent
that the information in this prospectus supplement supersedes the information
contained in the prospectus.&#160;&#160;This prospectus supplement is not
complete without, and may not be delivered or utilized except in connection
with, the prospectus, including any supplements thereto.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">Current
Report on Form 8-K</font></div>
        <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">On
February 29, 2008, we filed with the Securities and Exchange Commission our
Current Report on Form 8-K.&#160;&#160;The text of the 8-K is attached
hereto.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font id="TAB1" style="MARGIN-LEFT: 180pt"></font><br></div>
        <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">Investing
in our common stock involves significant risks.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">See
&#8220;Risk Factors&#8221; beginning on page 3 of the prospectus.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font id="TAB1" style="MARGIN-LEFT: 180pt"></font><br></div>
        <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
        <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
        <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 40pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">Neither
the Securities and Exchange Commission nor any state securities commission has
approved or disapproved these securities or passed upon the adequacy or accuracy
of this prospectus.&#160;&#160;Any representation to the contrary is a criminal
offense.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">This
prospectus supplement is dated February 29, 2008</font></div>
        <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div><font id="TAB1" style="MARGIN-LEFT: 468pt"></font></div>
      <div>
        <hr style="MARGIN-TOP: -5px; COLOR: #000000" noshade size="1">
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      <div>
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          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
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      <div>&#160;</div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
      <div>
        <hr style="MARGIN-TOP: -5px; COLOR: #000000" noshade size="4">
        <hr style="MARGIN-TOP: -10px; COLOR: #000000" noshade size="1">
      </div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 13pt; FONT-FAMILY: times new roman, serif">Attachment</font></div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 13pt; FONT-FAMILY: Times New Roman, serif">SECURITIES
AND EXCHANGE COMMISSION</font><br></div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 13pt; FONT-FAMILY: Times New Roman, serif">Washington,
D.C. 20549</font></div>
          <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
          <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
          <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 13pt; FONT-FAMILY: Times New Roman, serif">FORM
8-K</font></div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 13pt; FONT-FAMILY: Times New Roman, serif">CURRENT
REPORT</font></div>
          <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 13pt; FONT-FAMILY: Times New Roman, serif">Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934</font></div>
          <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
          <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="left"><font style="DISPLAY: inline; FONT-SIZE: 13pt; FONT-FAMILY: Times New Roman, serif">Date
of Report (Date of earliest event reported):&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">February 26,
2008</font></font></div>
          <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
          <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 13pt; FONT-FAMILY: Times New Roman, serif"><font size="+0"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 20pt; FONT-FAMILY: Times New Roman; TEXT-DECORATION: underline">&#160;Zynex
Medical Holdings, Inc.</font><font style="DISPLAY: inline; FONT-SIZE: 16pt; FONT-FAMILY: Times New Roman; TEXT-DECORATION: underline">&#160;</font></font></font></div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 13pt; FONT-FAMILY: Times New Roman, serif">(Exact
name of Registrant as specified in its charter)</font></div>
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                <tr>
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                  </td>
                  <td align="left" valign="top" width="33%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">33-26787-D</font></font></div>
                  </td>
                  <td align="left" valign="top" width="33%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="left"><font style="DISPLAY: inline; FONT-SIZE: 13pt; FONT-FAMILY: times new roman, serif"><font size="+0"><font style="DISPLAY: inline; FONT-SIZE: 11pt; TEXT-DECORATION: underline">90-0275169</font></font></font></div>
                  </td>
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                <tr>
                  <td align="left" valign="top" width="33%">
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      or other</font></div>
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                  <td align="left" valign="top" width="33%">
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                  <td align="left" valign="top" width="33%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="left"><font style="DISPLAY: inline; FONT-SIZE: 13pt; FONT-FAMILY: times new roman, serif">(I.R.S.
      Employer</font></div>
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                </tr>
                <tr>
                  <td align="left" valign="top" width="33%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="left"><font style="DISPLAY: inline; FONT-SIZE: 13pt; FONT-FAMILY: times new roman, serif">Jurisdiction</font></div>
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                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="left"><font style="DISPLAY: inline; FONT-SIZE: 13pt; FONT-FAMILY: times new roman, serif">File
      Number)</font></div>
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                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="left"><font style="DISPLAY: inline; FONT-SIZE: 13pt; FONT-FAMILY: times new roman, serif">Identification
      No.)</font></div>
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                <tr>
                  <td align="left" valign="top" width="33%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center" align="left"><font style="DISPLAY: inline; FONT-SIZE: 13pt; FONT-FAMILY: times new roman, serif">of
      incorporation)</font></div>
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                  <td valign="top" width="33%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                  <td valign="top" width="33%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman">&#160;
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          <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
          <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
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                <tr>
                  <td valign="top" width="50%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman; TEXT-DECORATION: underline">8022
      Southpark Cir, Suite 100, Littleton, CO</font></div>
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      of principal executive offices)</font></div>
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                  <td valign="top" width="50%">
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      Code)</font></div>
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                </tr>
                <tr>
                  <td valign="top" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                  <td valign="top" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
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          <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 13pt; FONT-FAMILY: Times New Roman, serif">Registrant&#8217;s
telephone number:&#160;&#160;<font style="TEXT-DECORATION: underline">(303)
703-4906</font></font></div>
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          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">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):</font></div>
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communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)</font></div>
          <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
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material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)</font></div>
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communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR240.14d-2(b))</font></div>
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communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR240.13e-4(c))</font></div>
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                    <div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 13pt; FONT-FAMILY: Times New Roman, serif">Item
      1.02.&#160;&#160;Termination of a Material Definitive Agreement
      and</font></div>
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                    <div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 13pt; FONT-FAMILY: Times New Roman, serif">Item
      3.02&#160;&#160;&#160;Unregistered Sales of Equity
    Securities</font></div>
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          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 13pt; FONT-FAMILY: Times New Roman, serif"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>On January 25, 2008, Zynex Medical
Holdings, Inc. (&#8220;Zynex&#8221;) notified holders of warrants issued by Zynex in 2006
and 2007 pursuant to a private placement that such warrants would terminate 30
days following the notice.&#160;&#160;The termination of the warrants was
permitted because Zynex&#8217;s stock has traded in excess of 200% of the exercise
price of the warrants for more than 10 consecutive days.&#160;&#160;As a result,
each warrant holder had 30 days from the date of such notice to exercise their
warrants or the warrants would terminate.</font></div>
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          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 13pt; FONT-FAMILY: Times New Roman, serif"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>By February 26, 2008, all of the
warrants were exercised.&#160;&#160;Zynex issued 1,740,000 shares of common
stock for an exercise price of $0.39 per share, or an aggregate exercise price
of $678,600.&#160;&#160;Each of the recipients of the common stock represented
to Zynex that it is an accredited investor, and Zynex believes that the sale of
its common stock pursuant to the warrant exercise is exempt from registration
under Rule 506 promulgated under the Securities Act of 1933, as
amended.&#160;&#160;Zynex will use the exercise price proceeds for working
capital purposes.</font></div>
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common stock received pursuant to the exercise of warrants is included on a
currently effective registration statement on Form SB-2 (SEC file number
333-148906) and may be resold under such registration statement.</font></div>
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          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 13pt; FONT-FAMILY: Times New Roman, serif"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Pursuant to the requirements of the
Securities Exchange Act of 1934, the registrant has duly caused this report to
be signed on as its behalf by the undersigned hereunto duly
authorized.</font></div>
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            <div>&#160;</div><br></div>
          <div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 13pt; FONT-FAMILY: Times New Roman, serif"><font style="DISPLAY: inline; TEXT-DECORATION: none"><font id="TAB2" style="LETTER-SPACING: 10pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 10pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 10pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 10pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 10pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 10pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 10pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 10pt">&#160;&#160;</font>Zynex Medical Holdings,
Inc.</font></font></div>
          <div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 13pt; FONT-FAMILY: times new roman, serif; TEXT-DECORATION: none"><font id="TAB2" style="LETTER-SPACING: 10pt"><font id="TAB2" style="LETTER-SPACING: 10pt"><font id="TAB2" style="LETTER-SPACING: 10pt"><font id="TAB2" style="LETTER-SPACING: 10pt"><font id="TAB2" style="LETTER-SPACING: 10pt">&#160;&#160;&#160;</font>&#160;&#160;&#160;&#160;</font>&#160;&#160;&#160;&#160;</font>&#160;&#160;&#160;&#160;</font>&#160;&#160;&#160;&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
(Registrant)</font></div>
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          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: -9pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 13pt; FONT-FAMILY: Times New Roman, serif">Date:&#160;&#160;February
29,
2007&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;By:&#160;&#160;<font style="TEXT-DECORATION: underline">/s/ Thomas Sandgaard</font></font></div>
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Officer</font></div>
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