<SEC-DOCUMENT>0001513162-16-000868.txt : 20160526
<SEC-HEADER>0001513162-16-000868.hdr.sgml : 20160526
<ACCEPTANCE-DATETIME>20160526084808
ACCESSION NUMBER:		0001513162-16-000868
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20160525
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Unregistered Sales of Equity Securities
FILED AS OF DATE:		20160526
DATE AS OF CHANGE:		20160526

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BIOMERICA INC
		CENTRAL INDEX KEY:			0000073290
		STANDARD INDUSTRIAL CLASSIFICATION:	DENTAL EQUIPMENT & SUPPLIES [3843]
		IRS NUMBER:				952645573
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0531

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-08765
		FILM NUMBER:		161676355

	BUSINESS ADDRESS:	
		STREET 1:		17571 VON KARMAN AVENUE
		CITY:			IRVINE
		STATE:			CA
		ZIP:			92614
		BUSINESS PHONE:		9496452111

	MAIL ADDRESS:	
		STREET 1:		17571 VON KARMAN AVENUE
		CITY:			IRVINE
		STATE:			CA
		ZIP:			92614

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NMS PHARMACEUTICALS INC
		DATE OF NAME CHANGE:	19871130

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NUCLEAR MEDICAL SYSTEMS INC
		DATE OF NAME CHANGE:	19830216

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NUCLEAR INSTRUMENTS INC
		DATE OF NAME CHANGE:	19720508
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>form8k.htm
<DESCRIPTION>FORM 8K
<TEXT>
<HTML>
<head><title>form8k</title> </head> <body lang=EN-US> <div style=page:WordSection1>&nbsp; <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><b>SECURITIES AND EXCHANGE COMMISSION</b></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><b>WASHINGTON, D.C.</b></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><b>FORM 8-K</b></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>CURRENT REPORT</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>Pursuant to Section 13 or 15(d) of the</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>Securities Exchange Act of 1934</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;May 25, 2016&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;</u></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>Date of Report (date of earliest event reported)</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><b><u>BIOMERICA, INC.</u></b></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>(Exact Name of Registrant as Specified in its Charter)</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p> <div align=center> <table width=727 bordercolor=transparent style="WIDTH:545pt; BORDER-COLLAPSE:collapse; MARGIN-LEFT:-0.75pt" cellpadding=0 cellspacing=0> <tr style=HEIGHT:15.75pt> <td width=229 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:172pt; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt"> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt' align=left><font style=COLOR:black>Delaware </font></p></td> <td width=27 nowrap style="HEIGHT:15.75pt; WIDTH:20pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom> <td width=215 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:161pt; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt"> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=COLOR:black>0-8765</font></p></td> <td width=27 nowrap style="HEIGHT:15.75pt; WIDTH:20pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom> <td width=229 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:172pt; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt"> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=COLOR:black>95-2645573</font></p></td></tr> <tr style=HEIGHT:15.75pt> <td width=229 nowrap style="HEIGHT:15.75pt; WIDTH:172pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt"> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt' align=left><font style=COLOR:black>(State or Other</font></p></td> <td width=27 nowrap style="HEIGHT:15.75pt; WIDTH:20pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom> <td width=215 nowrap style="HEIGHT:15.75pt; WIDTH:161pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt"> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=COLOR:black>(Commission File Number)</font></p></td> <td width=27 nowrap style="HEIGHT:15.75pt; WIDTH:20pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom> <td width=229 nowrap style="HEIGHT:15.75pt; WIDTH:172pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt"> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=COLOR:black>(IRS Employer</font></p></td></tr> <tr style=HEIGHT:15.75pt> <td width=229 nowrap style="HEIGHT:15.75pt; WIDTH:172pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt"> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt' align=left><font style=COLOR:black>Jurisdiction of Incorporation)</font></p></td> <td width=27 nowrap style="HEIGHT:15.75pt; WIDTH:20pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom> <td width=215 nowrap style="HEIGHT:15.75pt; WIDTH:161pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt"> <td width=27 nowrap style="HEIGHT:15.75pt; WIDTH:20pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom> <td width=229 nowrap style="HEIGHT:15.75pt; WIDTH:172pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt"> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=COLOR:black>Identification Number)</font></p></td></tr></table></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>17571 Von Karman Ave.</p> <h1 style='FONT-SIZE:12pt; TEXT-DECORATION:underline; FONT-FAMILY:"Times New Roman","serif"; PAGE-BREAK-AFTER:avoid; FONT-WEIGHT:normal; TEXT-ALIGN:center; MARGIN:0in 0in 0pt'>Irvine, California 92614</h1> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>(Address of Principal Executive Offices</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>Including Zip Code)</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><u>949-645-2111</u></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>(Registrant&#146;s Telephone Number,</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>Including Area Code)</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><u>&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;&nbsp; </u></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>(Former Name or Former Address if Changed</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>Since Last Report)</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>Page 1 of 3 pages</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><u><font style=TEXT-DECORATION:none> <hr> <div style=PAGE-BREAK-BEFORE:always></font></u><b>Item 1.01. Entry into a Material Definitive Agreement</b></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt' align=justify>On May 25, 2016, Biomerica, Inc. ("Biomerica" or the "Company") entered into an Exclusive Marketing License Agreement with Celtis Pharm Co., Ltd., a medical company in the Republic of Korea (South Korea) (&#147;Celtis&#148;), that &nbsp;grants to Celtis an exclusive license to market Biomerica&#146;s new InFoods&#174; IBS products (&#147;IBS Products&#148;). The IBS Products identify patient-specific trigger foods that exacerbate IBS (Irritable Bowel Disease) symtoms. The Exclusive Marketing License Agreement only allows for Biomerica&#146;s IBS Products to be sold by Celtis in the Republic of Korea with a possibility of expansion of territory in the future upon mutually agreeable negotiations.&nbsp; The term of the agreement is for a period of five years plus an additional two year term for Korean FDA clearance and begins after Biomerica first receives final clearance for sale of the IBS Products in the United States. The agreement may be cancelled if Biomerica has not obtained final approval or clearance for sale of the IBS Products in the United States from the United States FDA on or before December 31, 2017, or another date mutually agreed upon in writing.&nbsp; Biomerica is also obligated to maintain a full quality assurance system for the IBS Products following the harmonized standards according to Annex IV of Directive 98/79/EC.</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt' align=justify>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt' align=justify>Celtis, at its sole cost and expense, must use its commercially reasonable good faith efforts to obtain Korea FDA approval or clearance of the IBS Products.</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt' align=justify>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt' align=justify>The terms of the Exclusive Marketing License Agreement provide up to $1.25 million in exclusivity fees based on certain milestones including Biomerica&#146;s starting clinical trials in the United States, receipt of US FDA clearance and Celtis&#146; first sales of IBS Products in Korea. &nbsp;Should Biomerica not receive US FDA clearance for the IBS Products, $250,000 of the up-front exclusivity fee shall convert into Biomerica common stock at the price of $3.00 per share for a total of 83,333 shares.</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt' align=justify>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt' align=justify>Additionally, the Agreement provides for &nbsp;royalty fees paid to Biomerica that are based on a percentage&nbsp; of net sales of the IBS Products in Korea. Minimum royalties in order to retain the exclusive South Korean license total $7.25 million<b> </b>starting at Korean FDA approval or clearance, which in no case will be later than May 31, 2019, or a date mutually agreed upon in writing, and continue for five years or longer if Korean FDA approval is obtained earlier than May 31, 2019.<b> </b>&nbsp;&nbsp;&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt' align=justify>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt' align=justify>Biomerica will sell the IBS Products to Celtis at a cost plus mark up basis.&nbsp; </p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt' align=justify>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt' align=justify>As part of the Agreement, Celtis also agreed to purchase 333,334 shares of Biomerica common stock at a price of $3.00 per share.&nbsp; See Item 3.02, below.</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt' align=justify>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt' align=justify><b>Item 3.02.&nbsp; Unregistered Sales of Equity Securities. </b></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt' align=justify>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt' align=justify>On May 25, 2016, in connection with an Exclusive Marketing License Agreement, Biomerica, Inc. consummated a Stock Purchase Agreement with Celtis Pharm Co., Ltd. (&#147;Celtis&#148;) of South Korea in which Celtis agreed to &nbsp;purchase 333,334 shares of the Biomerica&#146;s common stock at the purchase price of $3.00 per share for an aggregate purchase price of $1,000,002 (the &#147;Private Placement&#148;).</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt' align=justify>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt' align=justify>The shares were offered and sold in the Private Placement to Celtis, an accredited investor, without registration under the Securities Act of 1933, as amended (the &#147;Securities Act&#148;), or state securities laws, in reliance on the exemptions provided by Section 4(2) of the Securities Act and Regulation S promulgated thereunder and in reliance on similar exemptions under applicable state laws.</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'> <hr> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div> <h2 style='FONT-SIZE:12pt; TEXT-DECORATION:none; FONT-FAMILY:"Times New Roman","serif"; PAGE-BREAK-AFTER:avoid; FONT-WEIGHT:normal; TEXT-ALIGN:center; MARGIN:0in 0.3in 0pt 0in'><b>SIGNATURES</b></h2> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0.3in 0pt 0in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0.3in 0pt 0in'>&nbsp;&nbsp;&nbsp;&nbsp; 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-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0.3in 0pt 0in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0.3in 0pt 0in' align=center>&nbsp;</p> <table width=739 bordercolor=transparent style="WIDTH:554.05pt; BORDER-COLLAPSE:collapse; MARGIN-LEFT:-0.75pt" cellpadding=0 cellspacing=0> <tr style=HEIGHT:15.75pt> <td width=271 nowrap style="HEIGHT:15.75pt; WIDTH:203pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in"> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style=COLOR:black>Dated:&nbsp; May 26, 2016</font></p></td> <td width=251 nowrap style="HEIGHT:15.75pt; WIDTH:188pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=217 colspan=2 nowrap style="HEIGHT:15.75pt; WIDTH:163.05pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style=COLOR:black>Biomerica, Inc.</font></p></td></tr> <tr style=HEIGHT:15.75pt> <td width=271 nowrap style="HEIGHT:15.75pt; WIDTH:203pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in"> <td width=251 nowrap style="HEIGHT:15.75pt; WIDTH:188pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=37 nowrap style="HEIGHT:15.75pt; WIDTH:28.05pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=180 nowrap style="HEIGHT:15.75pt; WIDTH:135pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom /> </tr><tr style=HEIGHT:15.75pt> <td width=271 nowrap style="HEIGHT:15.75pt; WIDTH:203pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=251 nowrap style="HEIGHT:15.75pt; WIDTH:188pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=37 nowrap style="HEIGHT:15.75pt; WIDTH:28.05pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style=COLOR:black>By:</font></p></td> <td width=180 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:135pt; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in"> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style=COLOR:black>/s/ Zackary S. Irani</font></p></td></tr> <tr style=HEIGHT:15.75pt> <td width=271 nowrap style="HEIGHT:15.75pt; WIDTH:203pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=251 nowrap style="HEIGHT:15.75pt; WIDTH:188pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=37 nowrap style="HEIGHT:15.75pt; WIDTH:28.05pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=180 nowrap style="HEIGHT:15.75pt; WIDTH:135pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in"> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style=COLOR:black>Zackary S. Irani</font></p></td></tr> <tr style=HEIGHT:15.75pt> <td width=271 nowrap style="HEIGHT:15.75pt; WIDTH:203pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=251 nowrap style="HEIGHT:15.75pt; WIDTH:188pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=37 nowrap style="HEIGHT:15.75pt; WIDTH:28.05pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=180 nowrap style="HEIGHT:15.75pt; WIDTH:135pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in"> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style=COLOR:black>Chief Executive Officer</font></p></td></tr></table> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0.3in 0pt 0in'>&nbsp;</p></div></body>
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