<SEC-DOCUMENT>0001078782-17-001353.txt : 20171005
<SEC-HEADER>0001078782-17-001353.hdr.sgml : 20171005
<ACCEPTANCE-DATETIME>20171005170705
ACCESSION NUMBER:		0001078782-17-001353
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20171005
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Submission of Matters to a Vote of Security Holders
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20171005
DATE AS OF CHANGE:		20171005

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SIGMA LABS, INC.
		CENTRAL INDEX KEY:			0000788611
		STANDARD INDUSTRIAL CLASSIFICATION:	MISCELLANEOUS MANUFACTURING INDUSTRIES [3990]
		IRS NUMBER:				820404220
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-38015
		FILM NUMBER:		171125207

	BUSINESS ADDRESS:	
		STREET 1:		3900 PASEO DEL SOL
		CITY:			SANTE FE
		STATE:			NM
		ZIP:			87507
		BUSINESS PHONE:		(505) 438-2576

	MAIL ADDRESS:	
		STREET 1:		3900 PASEO DEL SOL
		CITY:			SANTE FE
		STATE:			NM
		ZIP:			87507

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FRAMEWAVES INC
		DATE OF NAME CHANGE:	20010130

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MESSIDOR LTD
		DATE OF NAME CHANGE:	20010122
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>f8k100517_8k.htm
<DESCRIPTION>FORM 8K CURRENT REPORT
<TEXT>
<HTML>
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<HEAD>
<TITLE>Form 8K Current Report</TITLE>
</HEAD>
<BODY>
<DIV style=margin-left:36pt;width:540pt><P align=center style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=center style='font:10pt Times New Roman;margin:0'><A name=BM000 />UNITED STATES</P>
<P align=center style='font:10pt Times New Roman;margin:0'>SECURITIES AND EXCHANGE COMMISSION</P>
<P align=center style='font:10pt Times New Roman;margin:0'>WASHINGTON, D.C. 20549 </P>
<P align=center style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=center style='font:12pt Times New Roman;margin:0'><B>FORM 8-K </B></P>
<P align=center style='font:12pt Times New Roman;margin:0'>&nbsp;</P>
<P align=center style='font:10pt Times New Roman;margin:0'>CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 </P>
<P align=center style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=center style='font:10pt Times New Roman;margin:0'>Date of report (Date of earliest event reported): September 29, 2017 </P>
<P align=center style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=center style='font:14pt Times New Roman;margin:0'><FONT style='border-bottom:1px solid #000000'><B>SIGMA LABS, INC</B>.</FONT></P>
<P align=center style='font:10pt Times New Roman;margin:0'>(Exact Name of Registrant as Specified in its Charter) </P>
<P align=center style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<TABLE align=center style=border-collapse:collapse;width:77.5%><TR style=height:7.2pt><TD valign=top style='border-bottom:0.5pt solid #000000'><P align=center style='font:10pt Times New Roman;margin:0'><B>Nevada</B></P>
</TD><TD valign=bottom><P style='font:10pt Times New Roman;margin:0'> &nbsp;</P>
</TD><TD valign=top style='border-bottom:0.5pt solid #000000'><P align=center style='font:10pt Times New Roman;margin:0'><B>001-38015</B></P>
</TD><TD valign=bottom><P style='font:10pt Times New Roman;margin:0'> &nbsp;</P>
</TD><TD valign=top style='border-bottom:0.5pt solid #000000'><P align=center style='font:10pt Times New Roman;margin:0'><B>27-1865814</B></P>
</TD></TR>
<TR style=height:7.2pt><TD valign=top><P align=center style='font:10pt Times New Roman;margin:0'>(State or Other</P>
<P align=center style='font:10pt Times New Roman;margin:0'>Jurisdiction of </P>
<P align=center style='font:10pt Times New Roman;margin:0'>Incorporation)</P>
</TD><TD valign=bottom><P style='font:10pt Times New Roman;margin:0'> &nbsp;</P>
</TD><TD valign=top><P align=center style='font:10pt Times New Roman;margin:0'>(Commission File Number) </P>
</TD><TD valign=bottom><P style='font:10pt Times New Roman;margin:0'> &nbsp;</P>
</TD><TD valign=top><P align=center style='font:10pt Times New Roman;margin:0'>(IRS Employer </P>
<P align=center style='font:10pt Times New Roman;margin:0'>Identification No.)</P>
</TD></TR>
<TR style=height:7.2pt><TD colspan=5 valign=bottom><P style='font:10pt Times New Roman;margin:0'> &nbsp;</P>
</TD></TR>
<TR style=height:7.2pt><TD colspan=5 valign=top style='border-bottom:0.5pt solid #000000'><P align=center style='font:10pt Times New Roman;margin:0'><B>3900 Paseo del Sol, Santa Fe, New Mexico 87507</B></P>
</TD></TR>
<TR style=height:7.2pt><TD colspan=5 valign=top><P align=center style='font:10pt Times New Roman;margin:0'>(Address of Principal Executive Offices) (Zip Code)</P>
</TD></TR>
<TR style=height:7.2pt><TD colspan=5 valign=top><P align=center style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD></TR>
<TR style=height:7.2pt><TD colspan=5 valign=top style='border-bottom:0.5pt solid #000000'><P align=center style='font:10pt Times New Roman;margin:0'>N/A</P>
</TD></TR>
<TR style=height:7.2pt><TD colspan=5 valign=top><P align=center style='font:10pt Times New Roman;margin:0'>(Former Name or Former Address, if Changed Since Last Report)</P>
</TD></TR>
</TABLE>
<P align=center style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=center style='font:10pt Times New Roman;margin:0'>Registrant&#8217;s telephone number, including area code: <B>(505) 438-2576</B></P>
<P align=center style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0'>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 style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'>[  &nbsp;] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'>[  &nbsp;] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) </P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'>[  &nbsp;] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) </P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'>[  &nbsp;] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) </P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0'>Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&#167;230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&#167;240.12b-2 of this chapter). </P>
<P align=justify style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0;text-indent:36pt'>Emerging growth company [  &nbsp;]</P>
<P style='font:10pt Times New Roman;margin:0;text-indent:36pt'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0'>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. [ &nbsp;&nbsp;]</P>
<HR style='page-break-after:always;border:0;height:3pt;background-color:#909090;margin:8pt 0'><P style='font:10pt Times New Roman;margin:0'><A name=BM002 />&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'><KBD style='position:absolute;font:10pt Times New Roman'><B>ITEM 1.01</B></KBD><KBD style=margin-left:72pt></KBD><B>ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.</B>&nbsp;</P>
<P style='font:10.5pt Times New Roman;margin:0'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>On September 29, 2017, Sigma Labs, Inc. (&#8220;we,&#8221; &#8220;our,&#8221; &#8220;us&#8221; or the &#8220;Company&#8221;) entered into amendments (the &quot;Amendments&quot;) to the October 17, 2016 Secured Convertible Promissory Notes (the &quot;Notes&quot;) and Warrants to purchase shares of the Company's common stock (the &quot;Warrants&quot;) that we previously entered into with two accredited investors (collectively, the &quot;Holders&quot;), pursuant to which, among other things set forth in the Amendments, (1) the exercise price of the Warrants was reduced from $4.13 per share to $2.00 per share, and (2) the conversion price of the Notes was reduced from $4.13 per share to $2.00 per share. Under the Amendments, we paid the Holders an aggregate amount equal to $500,000 (representing 50% of the outstanding principal balance of the Notes) plus all accrued interest on the Notes. In consideration of the foregoing, the Holders agreed to, among other things, extend the payment date of the remaining 50% of the outstanding principal balance of the Notes from October 17, 2017 to the earlier of May 18, 2018 or the closing of our next underwritten public offering of securities in which we raise gross proceeds of at least $3,000,000 (should we elect to commence and close such an offering of securities). </P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'><KBD style=margin-left:36pt></KBD>A form of Amendment is attached hereto as Exhibit 10.1 and is incorporated herein by reference.&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:-72pt;margin-left:72pt'><KBD style='position:absolute;font:10pt Times New Roman;text-indent:0'><B>ITEM 2.03</B></KBD><KBD style=margin-left:72pt></KBD><B>CREATION OF A DIRECT FINANCIAL OBLIGATION OR AN OBLIGATION UNDER AN OFF-BALANCE SHEET ARRANGEMENT OF A REGISTRANT.</B>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'><KBD style=margin-left:36pt></KBD>Reference is made to the information under Item 1.01, which is incorporated herein by this reference. &nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:-72pt;margin-left:72pt'><KBD style='position:absolute;font:10pt Times New Roman;text-indent:0'><B>ITEM 5.02</B></KBD><KBD style=margin-left:72pt></KBD><B>DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS. </B>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0'><KBD style=margin-left:36pt></KBD>On October 2, 2017, our 2013 Equity Incentive Plan (the &quot;2013 Plan&quot;) was amended to fix at 750,000 shares the aggregate number of shares of our common stock subject to the 2013 Plan and to fix at 300,000 shares the limitation on awards of stock options and stock appreciation rights under the 2013 Plan during any twelve-month period to any one participant.&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:-72pt;margin-left:72pt'><KBD style='position:absolute;font:10pt Times New Roman;text-indent:0'><B>ITEM 5.07</B></KBD><KBD style=margin-left:72pt></KBD><B>SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS. </B>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:-72pt;margin-left:72pt'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'><B><I>Annual Meeting of Stockholders </I></B></P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:24.5pt'><KBD style=margin-left:11.5pt></KBD>On October 2, 2017, we held our 2017 Annual Meeting of Stockholders (the &#8220;Annual Meeting&#8221;). Our stockholders acted upon the following proposals at the Annual Meeting:&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0;text-indent:24.5pt'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'><KBD style='position:absolute;text-indent:0;font:10pt Symbol'>&#61623;</KBD><KBD style=margin-left:18pt></KBD><B>Proposal 1</B>: To elect Dennis Duitch to serve as a Class III director until the 2020 Annual Meeting of Stockholders; &nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;margin-left:72pt'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'><KBD style='position:absolute;text-indent:0;font:10pt Symbol'>&#61623;</KBD><KBD style=margin-left:18pt></KBD><B>Proposal 2: </B>To approve an amendment to our 2013 Plan to fix at 750,000 shares the aggregate number of shares of our common stock subject to the 2013 Plan;&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;margin-left:72pt'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'><KBD style='position:absolute;text-indent:0;font:10pt Symbol'>&#61623;</KBD><KBD style=margin-left:18pt></KBD><B>Proposal 3: </B>To approve an amendment to the 2013 Plan to fix at 300,000 shares the limitation on awards of stock options and stock appreciation rights under the 2013 Plan during any twelve-month period to any one participant;&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;margin-left:72pt'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'><KBD style='position:absolute;text-indent:0;font:10pt Symbol'>&#61623;</KBD><KBD style=margin-left:18pt></KBD><B>Proposal 4: </B>To approve an amendment to our Amended and Restated Articles of Incorporation to increase the authorized number of shares of common stock to 30,000,000;&nbsp;</P>
<P align=justify style='font:10pt Calibri;margin:0;margin-left:36pt'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'><KBD style='position:absolute;text-indent:0;font:10pt Symbol'>&#61623;</KBD><KBD style=margin-left:18pt></KBD><B>Proposal 5</B>: To approve, by non-binding vote, the compensation of our named executive officers as disclosed in our proxy statement; &nbsp;</P>
<P align=justify style='font:10pt Calibri;margin:0;margin-left:36pt'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'><KBD style='position:absolute;text-indent:0;font:10pt Symbol'>&#61623;</KBD><KBD style=margin-left:18pt></KBD><B>Proposal 6</B>:<B> </B>To recommend, by non-binding vote, the frequency of future stockholder advisory votes to approve the compensation of our named executive officers; and&nbsp;</P>
<P align=justify style='font:10pt Calibri;margin:0;margin-left:36pt'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'><KBD style='position:absolute;text-indent:0;font:10pt Symbol'>&#61623;</KBD><KBD style=margin-left:18pt></KBD><B>Proposal 7</B>: To ratify the selection of Pritchett, Siler &amp; Hardy, P.C. as our independent registered public accounting firm for the fiscal year ending December 31, 2017.&nbsp;</P>
<HR style='border:0;height:0;margin:14pt 0 0 0'><P align=center style='font:10pt Times New Roman;margin:0'>2</P>
<HR style='page-break-after:always;border:0;height:3pt;background-color:#909090;margin:8pt 0'><P style='font:10pt Times New Roman;margin:0'><B><I>Voting Results </I></B></P>
<P style='font:10.5pt Times New Roman;margin:0'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'><B>Proposal 1</B>: Mr. Duitch was elected as a Class III director with 1,616,444 &#8220;FOR&#8221; votes and 89,895 &quot;WITHHELD&#8221; votes. There were 1,143,540 broker non-votes in connection with this proposal.</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'><B>Proposal 2</B>: This proposal was approved with 1,393,950 &#8220;FOR&#8221; votes, 169,335 &#8220;AGAINST&#8221; votes and 143,054 &#8220;ABSTAIN&#8221; votes. There were 1,143,540 broker non-votes in connection with this proposal.</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'><B>Proposal 3</B>: This proposal was approved with 1,378,753 &#8220;FOR&#8221; votes, 189,560 &#8220;AGAINST&#8221; votes and 138,026 &#8220;ABSTAIN&#8221; votes. There were 1,143,540 broker non-votes in connection with this proposal.</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'><B>Proposal 4</B>: This proposal was not approved with 2,018,503 &#8220;FOR&#8221; votes, 765,052 &#8220;AGAINST&#8221; votes and 66,319 &#8220;ABSTAIN&#8221; votes. There were no broker non-votes in connection with this proposal.</P>
<P align=justify style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'><B>Proposal 5</B>: This proposal was approved with 1,364,691 &#8220;FOR&#8221; votes, 175,827 &#8220;AGAINST&#8221; votes and 165,821 &#8220;ABSTAIN&#8221; votes. There were 1,143,540 broker non-votes in connection with this proposal.</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'><B>Proposal 6</B>: 1,412,863 votes for 1 year, 25,363 votes for 2 years, 8,109 votes for 3 years, and 260,004 &#8220;ABSTAIN&#8221; votes. There were 1,143,540 broker non-votes in connection with this proposal. Based on these results, our Board of Directors has determined to include annually an advisory stockholder vote on the compensation of executives in the Company's proxy materials until the next required vote on the frequency of stockholder votes on the compensation of executives. </P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'><B>Proposal 7</B>: This proposal was approved with 2,581,624 &#8220;FOR&#8221; votes, 103,226 &#8220;AGAINST&#8221; votes and 165,029 &#8220;ABSTAIN&#8221; votes. There were no broker non-votes in connection with this proposal.</P>
<P align=justify style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:-72pt;margin-left:72pt'><KBD style='position:absolute;font:10pt Times New Roman;text-indent:0'><B>ITEM 9.01</B></KBD><KBD style=margin-left:72pt></KBD><B>FINANCIAL STATEMENTS AND EXHIBITS.</B>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0;text-indent:36pt'><KBD style='position:absolute;font:10pt Times New Roman;text-indent:0'>(d)</KBD><KBD style=margin-left:36pt></KBD>Exhibits. &nbsp;</P>
<P style='font:10pt Times New Roman;margin:0;text-indent:36pt'>&nbsp;</P>
<TABLE align=center style=border-collapse:collapse><TR style=height:7.2pt><TD valign=top style='width:95.4pt;border-bottom:0.5pt solid #000000'><P align=justify style='font:10pt Times New Roman;margin:0'><B>Exhibit Number</B></P>
</TD><TD valign=top style=width:13.5pt><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=top style='width:422.1pt;border-bottom:0.5pt solid #000000'><P style='font:10pt Times New Roman;margin:0'><B>Description</B></P>
</TD></TR>
<TR style=height:7.2pt><TD valign=top style='width:95.4pt;border-top:0.5pt solid #000000'><P align=center style='font:10pt Times New Roman;margin:0'><A href=f8k100517_ex10z1.htm style=text-decoration:none><FONT style='color:#0000FF;border-bottom:1px solid #0000FF'>10.1</FONT></A></P>
</TD><TD valign=top style=width:13.5pt><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=top style='width:422.1pt;border-top:0.5pt solid #000000'><P align=justify style='font:10pt Times New Roman;margin:0'>Form of Amendment of Warrant and Note, entered into as of September 29, 2017, between the Company and the Holders. </P>
</TD></TR>
</TABLE>
<HR style='border:0;height:0;margin:14pt 0 0 0'><P align=center style='font:10pt Times New Roman;margin:0'>3</P>
<HR style='page-break-after:always;border:0;height:3pt;background-color:#909090;margin:8pt 0'><P align=center style='font:10pt Times New Roman;margin:0'><B>SIGNATURE</B></P>
<P style='font:10.5pt Times New Roman;margin-top:0pt;margin-bottom:12pt;text-indent:36pt'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>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='font:10pt Times New Roman;margin:0;text-indent:36pt'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0;text-indent:36pt'>&nbsp;</P>
<TABLE style=border-collapse:collapse><TR><TD valign=top style=width:261.9pt;padding-left:5.4pt;padding-right:5.4pt><P style='font:10pt Times New Roman;margin:0'>October 5, 2017</P>
</TD><TD valign=top style=width:261.9pt;padding-left:5.4pt;padding-right:5.4pt><P style='font:10pt Times New Roman;margin:0'>SIGMA LABS, INC.</P>
</TD></TR>
<TR><TD valign=top style=width:261.9pt;padding-left:5.4pt;padding-right:5.4pt><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=top style=width:261.9pt;padding-left:5.4pt;padding-right:5.4pt><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD></TR>
<TR><TD valign=top style=width:261.9pt;padding-left:5.4pt;padding-right:5.4pt><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=top style=width:261.9pt;padding-left:5.4pt;padding-right:5.4pt><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD></TR>
<TR><TD valign=top style=width:261.9pt;padding-left:5.4pt;padding-right:5.4pt><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=top style=width:261.9pt;padding-left:5.4pt;padding-right:5.4pt><P style='font:10pt Times New Roman;margin:0'><KBD style='position:absolute;font:10pt Times New Roman'>By:</KBD><KBD style=margin-left:36pt></KBD><FONT style='border-bottom:1px solid #000000'><I>/s/ John Rice</I></FONT>&nbsp;</P>
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<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>f8k100517_ex10z1.htm
<DESCRIPTION>EXHIBIT 10.1 FORM OF AMENDMENT OF WARRANT AND NOTE, ENTERED INTO AS OF SEPTEMBER 29, 2017, BETWEEN THE COMPANY AND THE HOLDERS
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<TITLE>Exhibit 10.1 Form of Amendment of Warrant and Note, entered into as of September 29, 2017, between the Company and the Holders</TITLE>
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<DIV style=margin-left:36pt;width:540pt><P align=center style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=center style='font:10pt Times New Roman;margin:0'><B>SIGMA LABS, INC.</B></P>
<P align=center style='font:10pt Times New Roman;margin:0'><B>3900 Paseo del Sol</B></P>
<P align=center style='font:10pt Times New Roman;margin:0'><B>Santa Fe, New Mexico 87507</B></P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'><FONT style='border-bottom:1px solid #000000'>VIA EMAIL AND U.S. MAIL</FONT></P>
<P align=center style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=right style='font:10pt Times New Roman;margin:0'>September __, 2017</P>
<P style='font:12pt Times New Roman;margin-top:0pt;margin-bottom:12pt;text-indent:36pt'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0;text-indent:36pt'><KBD style='position:absolute;font:10pt Times New Roman;text-indent:0'>Re: </KBD><KBD style=margin-left:36pt></KBD><FONT style='border-bottom:1px solid #000000'>Form of Amendment of Warrant and Note</FONT>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0;text-indent:36pt'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0'>Ladies and Gentlemen:</P>
<P align=justify style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>Reference is made to the 10% Secured Convertible Note in the aggregate principal amount of $_______ and dated October 17, 2016 (the &#8220;<FONT style='border-bottom:1px solid #000000'>Note</FONT>&#8221;) issued to _______ by Sigma Labs, Inc. (&#8220;<FONT style='border-bottom:1px solid #000000'>Sigma Labs</FONT>&#8221;) and to the Common Stock Purchase Warrant dated October 17, 2016 (the &#8220;<FONT style='border-bottom:1px solid #000000'>Warrant</FONT>&#8221;) issued to _______ by Sigma Labs. This letter (the &#8220;<FONT style='border-bottom:1px solid #000000'>Letter Agreement</FONT>&#8221;) sets forth the agreement between _______ and Sigma Labs regarding the following matters in consideration of payment to _______ as set forth in Section A.3.</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'><KBD style='position:absolute;font:10pt Times New Roman;text-indent:0'>A.</KBD><KBD style=margin-left:36pt></KBD><FONT style='border-bottom:1px solid #000000'>Amendment of the Note</FONT>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'><KBD style='position:absolute;font:10pt Times New Roman;margin-left:36pt;text-indent:0'>1.</KBD><KBD style=margin-left:72pt></KBD>Effective as of the date of this Letter Agreement, the first sentence in the third full paragraph on page 1 of the Note is amended to read in full as follows:&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:-54pt;margin-left:90pt'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'><KBD style=margin-left:36pt></KBD>&#8220;FOR VALUE RECEIVED, the Company promises to pay to _______ or its registered assigns (the &#8220;Holder&#8221;), or shall have paid pursuant to the terms hereunder, the principal sum of $_______ and accrued interest on the date that is the earlier of May 18, 2018 or the date that Company closes an underwritten public offering of its securities in which it raises gross proceeds of at least $3,000,000 (the &#8220;Maturity Date&#8221;) or such earlier date as this Note is required or permitted to be repaid as provided hereunder, and to pay interest to the Holder on the aggregate unconverted and then outstanding principal amount of this Note in accordance with the provisions hereof.&#8221; &nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'><KBD style='position:absolute;font:10pt Times New Roman;margin-left:36pt;text-indent:0'>2.</KBD><KBD style=margin-left:72pt></KBD>Effective as of the date of this Letter Agreement, all other references in the Note to October 17, 2017 shall instead be deemed to refer to May 18, 2018.&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'><KBD style='position:absolute;font:10pt Times New Roman;margin-left:36pt;text-indent:0'>3.</KBD><KBD style=margin-left:72pt></KBD>Effective as of the date of this Letter Agreement, the first sentence of Section 4(b) of the Note is amended to read in full as follows:&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'><KBD style=margin-left:36pt></KBD>&#8220;Subject to Section 5, the &#8220;Conversion Price&#8221; in effect on any Conversion Date means, as of any Conversion Date or other date of determination, $2.00.&#8221;&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'><KBD style='position:absolute;font:10pt Times New Roman;margin-left:36pt;text-indent:0'>4.</KBD><KBD style=margin-left:72pt></KBD>Except as expressly set forth above in Sections A.1, A.2, and A.3, each provision of the Warrant remains unchanged and in full force and effect.&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'><KBD style='position:absolute;font:10pt Times New Roman;text-indent:0'>B.</KBD><KBD style=margin-left:36pt></KBD><FONT style='border-bottom:1px solid #000000'>Amendment of the Warrant</FONT>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'><KBD style='position:absolute;font:10pt Times New Roman;margin-left:36pt;text-indent:0'>1.</KBD><KBD style=margin-left:72pt></KBD>Effective as of the date of this Letter Agreement, Section 2(b) of the Warrant is amended to read in full as follows:&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'><KBD style='position:absolute;font:10pt Times New Roman;margin-left:36pt;text-indent:0'>&#8220;(b)</KBD><KBD style=margin-left:72pt></KBD><FONT style='border-bottom:1px solid #000000'>Exercise Price</FONT>. The initial exercise price per share of the Common Stock under this Warrant shall be equal to $2.00 per share, subject to adjustment under Section 3 (the &#8220;Exercise Price&#8221;).&#8221;&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'><KBD style='position:absolute;font:10pt Times New Roman;margin-left:36pt;text-indent:0'>2.</KBD><KBD style=margin-left:72pt></KBD>Except as expressly set forth above in Section B.1, each provision of the Warrant remains unchanged and in full force and effect.&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'><KBD style='position:absolute;font:10pt Times New Roman;text-indent:0'>C.</KBD><KBD style=margin-left:36pt></KBD><FONT style='border-bottom:1px solid #000000'>Additional Agreements of </FONT>_______<FONT style='border-bottom:1px solid #000000'>and Sigma Labs</FONT>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>_______ and Sigma Labs also agree as follows:</P>
<HR style='border:0;height:0;margin:14pt 0 0 0'><P align=center style='font:10pt Times New Roman;margin:0'>1</P>
<HR style='page-break-after:always;border:0;height:3pt;background-color:#909090;margin:8pt 0'><P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'><KBD style='position:absolute;font:10pt Times New Roman;margin-left:36pt;text-indent:0'>1.</KBD><KBD style=margin-left:72pt></KBD>_______ agrees (a) that the issuance of securities contemplated by the Exchange Agreement between Sigma Labs and Dawson James Securities, Inc. (&#8220;<FONT style='border-bottom:1px solid #000000'>Dawson</FONT>&#8221;), a copy of which is attached to this Letter Agreement, constitutes an Exempt Issuance as defined in the Securities Purchase Agreement dated as of October 17, 2016 (the &#8220;<FONT style='border-bottom:1px solid #000000'>Securities Purchase Agreement</FONT>&#8221;) among Sigma Labs and the purchasers named in the Securities Purchase Agreement, (b) that such issuance of securities to Dawson does not constitute an event of default under the Securities Purchase Agreement or any agreement executed in connection with the Securities Purchase Agreement, and (c) that such issuance of securities to Dawson does not provide _______ with a right to a reduction in the Note conversion price or the Warrant exercise price. &nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'><KBD style='position:absolute;font:10pt Times New Roman;margin-left:36pt;text-indent:0'>2.</KBD><KBD style=margin-left:72pt></KBD>Sigma Labs agrees to deliver a wire transfer or cashier&#8217;s check to _______, no later than three business days after its receipt from _______ of an executed copy of this Letter Agreement, in an aggregate amount equal to $_______ (representing 50% of the outstanding principal balance of the Note) plus all accrued interest on the Note. _______ agrees that the payment by Sigma Labs described in the preceding sentence does not constitute an event of default under the Securities Purchase Agreement or any agreement executed in connection with the Securities Purchase Agreement, and _______ waives its right to a prepayment penalty, a prepayment amount, or any other remedy with respect to such payment under the Note, the Securities Purchase Agreement, or any other agreement executed in connection with the Securities Purchase Agreement.&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'><KBD style='position:absolute;font:10pt Times New Roman;margin-left:36pt;text-indent:0'>3.</KBD><KBD style=margin-left:72pt></KBD>Sigma Labs shall deliver a new Note and Warrant to _______ not later than three business days after the delivery by the parties of an executed copy of this Letter Agreement and _______ delivery of the originals of the Note and Warrant, each marked &#8220;Cancelled.&#8221;&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'><KBD style='position:absolute;font:10pt Times New Roman;margin-left:36pt;text-indent:0'>4.</KBD><KBD style=margin-left:72pt></KBD>Sigma Labs agrees to file a prospectus supplement with the Securities and Exchange Commission no later than three business days after its receipt from _______ of an executed copy of this Letter Agreement. Such prospectus supplement shall describe the amended Note conversion price and Warrant exercise price and other relevant portions of this Letter Agreement. &nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>Please indicate your agreement with the provisions of this Letter Agreement by executing this Letter Agreement and returning it to me.</P>
<P style='font:10pt Times New Roman;margin:0;text-indent:36pt'>&nbsp;</P>
<TABLE align=center style=border-collapse:collapse><TR style=height:7.2pt><TD valign=top style=width:239.4pt><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=top style=width:239.4pt><P style='font:10pt Times New Roman;margin:0'>Very truly yours,</P>
</TD></TR>
<TR style=height:7.2pt><TD valign=top style=width:239.4pt><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=top style=width:239.4pt><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD></TR>
<TR style=height:7.2pt><TD valign=top style=width:239.4pt><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=top style=width:239.4pt><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD></TR>
<TR style=height:7.2pt><TD valign=top style=width:239.4pt><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=top style=width:239.4pt><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD></TR>
<TR style=height:7.2pt><TD valign=top style=width:239.4pt><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=top style=width:239.4pt><P style='font:10pt Times New Roman;margin:0'>John Rice</P>
</TD></TR>
<TR style=height:7.2pt><TD valign=top style=width:239.4pt><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=top style=width:239.4pt><P style='font:10pt Times New Roman;margin:0'>Interim Chief Executive Officer</P>
</TD></TR>
<TR style=height:7.2pt><TD valign=top style=width:239.4pt><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=top style=width:239.4pt><P style='font:10pt Times New Roman;margin:0'>Sigma Labs, Inc.</P>
</TD></TR>
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<P style='font:10pt Times New Roman;margin:0;text-indent:36pt'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0;text-indent:36pt'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0;text-indent:36pt'>AGREED TO AND ACCEPTED:</P>
<P style='font:10pt Times New Roman;margin:0;text-indent:36pt'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0;text-indent:36pt'>_______ </P>
<P style='font:10pt Times New Roman;margin:0;text-indent:36pt'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0;text-indent:36pt'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0;text-indent:36pt'>By: ____________________ </P>
<P style='font:10pt Times New Roman;margin:0;text-indent:36pt'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0;text-indent:36pt'>Print Name: _____________</P>
<P style='font:10pt Times New Roman;margin:0;text-indent:36pt'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0;text-indent:36pt'>Its: ____________________</P>
<HR style='border:0;height:0;margin:14pt 0 0 0'><P align=center style='font:10pt Times New Roman;margin:0'>2</P>
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