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<SEC-DOCUMENT>0001079974-08-000880.txt : 20081023
<SEC-HEADER>0001079974-08-000880.hdr.sgml : 20081023
<ACCEPTANCE-DATETIME>20081022174417
ACCESSION NUMBER:		0001079974-08-000880
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20081020
ITEM INFORMATION:		Other Events
FILED AS OF DATE:		20081023
DATE AS OF CHANGE:		20081022

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ZYNEX 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:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	033-26787-D
		FILM NUMBER:		081135883

	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:	20050812

	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
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>zynex8k_10222008.htm
<DESCRIPTION>REPORT 8-K
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AND EXCHANGE COMMISSION</font></div>
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D.C. 20549</font><br></div>
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8-K</font></div>
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REPORT</font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 14pt; FONT-FAMILY: Times New Roman">Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934</font></div>
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Report (Date of earliest event reported):&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">October 20,
2008</font></font></div>
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      incorporation)</font></div>
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telephone number:&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">(303)
703-4906</font></font></div>
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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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                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">Pre-commencement
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                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman">Pre-commencement
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        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">&#160;</div>
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8.01.&#160;&#160;Other Events</font></font></div>
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October 20, 2008, Zynex, Inc. (&#8220;Zynex&#8221;) entered into an amendment of the Option
granted by Zynex to Stalwart Investments, LLC in 2004.&#160;&#160;Under the
amendment, Zynex and Stalwart cancelled a part of the Option for 600,000 shares
of Zynex common stock and added a cashless exercise feature for 1,000,000 shares
of Zynex common stock subject to the Option.&#160;&#160;The combined effect of
the cancellation and the cashless exercise provision, if the cashless exercise
part of the Option is exercised in full and the market price of the common stock
at that time is the same as the closing price on October 21, 2008 ($4.80), would
be a reduction of 1,027,000 in the number of shares issuable under the
Option.</font></div>
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received the Option in 2004 for services.&#160;&#160;The Option was originally
for a total of 1,900,000 shares of Zynex common stock at exercise prices ranging
from $0.40 per share to $4.00 per share.&#160;&#160;Previously Stalwart
exercised the Option for 100,000 shares at $0.40 per share, leaving the Option
exercisable for a total of 1,800,000 shares of Zynex common
stock.&#160;&#160;Pursuant to the amendment, the following parts of the Option
for 1,000,000 shares can be exercised for cash or by conversion in a cashless
exercise:&#160;&#160;400,000 shares at $1.75 per share; 200,000 shares at $2.00
per share; 200,000 shares at $2.25 per share; and 200,000 shares at $2.50 per
share.&#160;&#160;A cashless exercise means that shares having a then fair
market value equal to the total exercise price are not issued upon an exercise
of the Option and are used in essence to pay the exercise price.</font></div>
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following parts of the Option for 600,000 shares were cancelled by the
amendment:&#160;&#160;200,000 shares at $2.75 per share; 200,000 shares at $3.00
per share; and 200,000 shares at $3.50 per share.&#160;&#160;The balance of
200,000 shares subject to the Option remain exercisable for cash only at $4.00
per share.</font></div>
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      <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">SIGNATURES</font></div>
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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.</font></div>
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      Inc.</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">(Registrant)</font></div>
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                <td valign="top" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
                <td valign="top" width="35%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
                <td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
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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: 10pt; FONT-FAMILY: Times New Roman"><font size="3">Date:&#160;&#160;October 22, 2008</font></font></div>
                </td>
                <td valign="top" width="3%" style="BORDER-BOTTOM: #ffffff solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">By:
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                <td align="left" nowrap valign="bottom" width="35%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">      </font>
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              </tr>
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                <td valign="top" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
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                <td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
              </tr>
              <tr>
                <td valign="top" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
                <td valign="top" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
                <td valign="top" width="35%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
                <td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
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        </div>
        <div>&#160;</div>
        <div>&#160;</div>
        <div>
          <hr style="MARGIN-TOP: -5px; COLOR: #000000" noshade size="1">
          <hr style="MARGIN-TOP: -13px; COLOR: #000000" noshade size="4">
        </div>
        <div>&#160;</div>
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