<SEC-DOCUMENT>0001144204-18-037630.txt : 20180709
<SEC-HEADER>0001144204-18-037630.hdr.sgml : 20180709
<ACCEPTANCE-DATETIME>20180709103128
ACCESSION NUMBER:		0001144204-18-037630
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20180709
FILED AS OF DATE:		20180709
DATE AS OF CHANGE:		20180709

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Sandgaard Thomas
		CENTRAL INDEX KEY:			0001322971

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-55960
		FILM NUMBER:		18943626

	MAIL ADDRESS:	
		STREET 1:		10506 KALAHARI CT.
		CITY:			LONE TREE
		STATE:			CO
		ZIP:			80124

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Sandgaard Holdings LLC
		CENTRAL INDEX KEY:			0001745071
		STATE OF INCORPORATION:			CO
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-55960
		FILM NUMBER:		18943627

	BUSINESS ADDRESS:	
		STREET 1:		9555 MAROON CIRCLE
		CITY:			ENGLEWOOD
		STATE:			CO
		ZIP:			80112
		BUSINESS PHONE:		303-703-4906

	MAIL ADDRESS:	
		STREET 1:		9555 MAROON CIRCLE
		CITY:			ENGLEWOOD
		STATE:			CO
		ZIP:			80112

ISSUER:		

	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

	BUSINESS ADDRESS:	
		STREET 1:		9990 PARK MEADOWS DRIVE
		CITY:			LONE TREE
		STATE:			CO
		ZIP:			80124
		BUSINESS PHONE:		(303) 703-4906

	MAIL ADDRESS:	
		STREET 1:		9990 PARK MEADOWS DRIVE
		CITY:			LONE TREE
		STATE:			CO
		ZIP:			80124

	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>3
<SEQUENCE>1
<FILENAME>tv497636_3.xml
<DESCRIPTION>OWNERSHIP DOCUMENT
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0206</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2018-07-09</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0000846475</issuerCik>
        <issuerName>ZYNEX INC</issuerName>
        <issuerTradingSymbol>ZYXI</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001322971</rptOwnerCik>
            <rptOwnerName>Sandgaard Thomas</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O ZYNEX, INC.,</rptOwnerStreet1>
            <rptOwnerStreet2>9555 MAROON CIRCLE</rptOwnerStreet2>
            <rptOwnerCity>ENGLEWOOD</rptOwnerCity>
            <rptOwnerState>CO</rptOwnerState>
            <rptOwnerZipCode>80112</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>President, CEO and Chairman</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001745071</rptOwnerCik>
            <rptOwnerName>Sandgaard Holdings LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O ZYNEX, INC.,</rptOwnerStreet1>
            <rptOwnerStreet2>9555 MAROON CIRCLE</rptOwnerStreet2>
            <rptOwnerCity>ENGLEWOOD</rptOwnerCity>
            <rptOwnerState>CO</rptOwnerState>
            <rptOwnerZipCode>80112</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>2129571</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>15200000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>Held by Sandgaard Holdings LLC</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeHolding>
            <securityTitle>
                <value>Option to Purchase Common Stock</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>0.22</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2014-10-31</value>
            </exerciseDate>
            <expirationDate>
                <value>2023-10-31</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>A</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>190000</value>
                    <footnoteId id="F1"/>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Option to Purchase Common Stock</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>0.14</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2016-01-02</value>
            </exerciseDate>
            <expirationDate>
                <value>2026-01-02</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>A</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>203571</value>
                    <footnoteId id="F2"/>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Option to Purchase Common Stock</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>2.76</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2018-12-14</value>
            </exerciseDate>
            <expirationDate>
                <value>2027-12-14</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>A</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>1000</value>
                    <footnoteId id="F3"/>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Represents options to purchase 190,000 shares of the Issuer's common stock issued pursuant to the Zynex Medical Holdings Inc. 2005 Stock Option Plan (the &quot;2005 Plan&quot;) which have vested in full.</footnote>
        <footnote id="F2">Represents options to purchase 203,571 shares of common stock issued pursuant to the 2005 Plan which have vested in full.</footnote>
        <footnote id="F3">Represents options to purchase 1,000 shares of common stock issued on December 14, 2017 pursuant to the Issuer's 2017 Stock Incentive Plan of which no options are vested and which total options vest in four equal annual installments beginning on the one year anniversary of the issue date.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Thomas Sandgaard</signatureName>
        <signatureDate>2018-07-09</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Sandgaard Holdings LLC</signatureName>
        <signatureDate>2018-07-09</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
