SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
---------------------------------------------------------------------------------
FORM
8-K
CURRENT
REPORT
PURSUANT
TO SECTION 13 OR 15(d) of the
SECURITIES
EXCHANGE ACT OF 1934
Date of Report (Date of
earliest event reported)
May 5,
2008
AVITAR,
INC.
(Exact
Name of Registrant as Specified in Charter)
Delaware 1-15695 06-1174053
(State
or other
jurisdiction (Commission (IRS
Employer
of
incorporation) File
Number) Identification No.)
65 Dan Road, Canton,
Massachusetts 02021
(Address
of principal executive
offices)
(Zip code)
Registrant's
telephone number, including area
code:
(781)
821-2440
Not
Applicable
(Former
Name or Former Address, If Changed Since Last Report)
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:
o Written
communications pursuant to Rule 425 under the Securities Act (17
CFR
230.425)
o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17
CFR
240.14a-12)
o
Pre-commencement communications pursuant to Rule 14d-2(b) under
the Exchange
Act (17
CFR 240.14d-2(b))
o
Pre-commencement communications pursuant to Rule 13e-4(c)
under the Exchange
Act (17
CFR 240.13e-4(c))
Item
8.01 Other Events.
As
previously reported, the Company requires significant additional financing from
outside sources. At this time, the Company has been unable to obtain
commitments for the necessary financing.
Without
the additional financing, the Company will be required to take the necessary
steps to reduce its operating costs. This will involve personnel
reductions and suspending business operations. The Company intends to
maintain a skeletal staff until additional financing is obtained or other
arrangements are made.
From
September 2005 through December 2007, the Company raised funds by executing
convertible secured notes in the aggregate principal amount of
$6,815,000. However, since December 31, 2007, the Company has raised
only $310,000 of gross proceeds of additional financing. Although the
Company has been seeking additional financing and exploring alternative sources
of financing, as noted above nothing has been secured at this time.
SIGNATURES
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.
Date: May
5,
2008
AVITAR, INC.
By:
/s/ Peter P.
Phildius
Name: Peter
P. Phildius
Title: Chairman & Chief Executive
Officer
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