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Filing Details

Accession Number:: 0001179110-10-011405
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2010-07-06 13:00:00
Reporting Period:: 2010-07-01

Filing Date:: 2010-07-06
Accepted Time:: 2010-07-06 14:25:53
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1222244	Prourocare Medical Inc.	PUMD	Surgical & Medical Instruments & Apparatus (3841)	201212923

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
901152	L James Davis	6446 Flying Cloud Dr Eden Prairie MN 55344		Yes	No	Yes	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock, $0.00001 Par Value	Acquisiton	2010-07-01	3,021	$1.60	1,808,897	No	4	P	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	P	Direct

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Common Stock, $0.00001 Par Value	74,964	Indirect	Held by "Davis & Associates 401K PSP"
Common Stock, $0.00001 Par Value	37,482	Indirect	Held by "Davis & Associates Inc."

Reported Derivative Holdings

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Sec. Name	Sec. Type	Price	Date	Expiration Date	Amount	Remaning Holdings	Nature of Ownership
Common Stock, $0.00001 Par Value	Warrants	$5.00		2010-02-28	15,625	15,625	Direct
Common Stock, $0.00001 Par Value	Warrants	$5.00		2010-03-21	1,702	1,702	Direct
Common Stock, $0.00001 Par Value	Warrants	$5.00		2012-12-27	5,800	5,800	Direct
Common Stock, $0.00001 Par Value	Warrants	$5.00		2012-12-27	6,050	6,050	Indirect
Common Stock, $0.00001 Par Value	Warrants	$5.00		2012-12-27	700	700	Indirect
Common Stock, $0.00001 Par Value	Warrants	$1.50		2013-04-03	25,000	25,000	Direct
Common Stock, $0.00001 Par Value	Warrants	$0.50		2012-12-31	30,000	30,000	Direct
Common Stock, $0.00001 Par Value	Warrants	$0.70		2012-12-31	30,000	30,000	Direct
Common Stock, $0.00001 Par Value	Warrants	$0.70		2012-12-31	10,000	10,000	Indirect
Common Stock, $0.00001 Par Value	Warrants	$0.70		2012-12-31	5,000	5,000	Indirect
Common Stock, $0.00001 Par Value	Warrants	$1.00		2012-12-31	30,000	30,000	Direct
Common Stock, $0.00001 Par Value	Warrants	$1.50		2013-09-25	100,000	100,000	Direct
Common Stock, $0.00001 Par Value	Warrants	$2.00	2009-10-31	2013-10-31	16,667	16,667	Direct
Common Stock, $0.00001 Par Value	Warrant	$1.30	2009-02-06	2014-01-07	314,846	314,846	Direct
Common Stock, $0.00001 Par Value	Warrants	$1.30	2009-02-06	2014-01-07	224,890	224,890	Direct
Common Stock, $0.00001 Par Value	Warrants	$1.30	2009-02-06	2014-01-07	74,964	74,964	Indirect
Common Stock, $0.00001 Par Value	Warrants	$1.30	2009-02-06	2014-01-07	37,482	37,482	Indirect
Common Stock, $0.00001 Par Value	Warrants	$1.30	2009-02-06	2014-01-07	195,000	195,000	Direct
Common Stock, $0.00001 Par Value	Options	$2.41		2017-03-01	10,374	10,374	Direct
Cash	Promissory Note	$1.00		2010-07-11	0	0	Direct
Cash	Promissory Note	$1.00		2010-07-11	0	0	Indirect
Cash	Promissory Note	$1.00		2010-07-11	0	0	Indirect
Common Stock	Loan Guarantee Agreement	$0.00		2011-03-28	95,555	95,555	Direct

Expiration Date	Amount	Remaning Holdings	Nature of Ownership
2010-02-28	15,625	15,625	Direct
2010-03-21	1,702	1,702	Direct
2012-12-27	5,800	5,800	Direct
2012-12-27	6,050	6,050	Indirect
2012-12-27	700	700	Indirect
2013-04-03	25,000	25,000	Direct
2012-12-31	30,000	30,000	Direct
2012-12-31	30,000	30,000	Direct
2012-12-31	10,000	10,000	Indirect
2012-12-31	5,000	5,000	Indirect
2012-12-31	30,000	30,000	Direct
2013-09-25	100,000	100,000	Direct
2013-10-31	16,667	16,667	Direct
2014-01-07	314,846	314,846	Direct
2014-01-07	224,890	224,890	Direct
2014-01-07	74,964	74,964	Indirect
2014-01-07	37,482	37,482	Indirect
2014-01-07	195,000	195,000	Direct
2017-03-01	10,374	10,374	Direct
2010-07-11	0	0	Direct
2010-07-11	0	0	Indirect
2010-07-11	0	0	Indirect
2011-03-28	95,555	95,555	Direct

Footnotes

Currently exercisable
Reporting person is the Sole owner of Davis & Associates Inc. and has sole voting power.
The warrants were purchased as part of as a Unit at a price of $1.00 per unit. Each unit consisted of one share of $0.00001 par value common stock and one redeemable five-year warrant to purchase one share of common stock at $1.30 per share. The warrants became exercisable and separately transferable from the shares of common stock on February 6, 2009.
Options vest as to 433 shares per month for 23 months beginning April 1, 2010 and as to 415 shares on March 1, 2012.
On June 11, 2010, the Company executed a promissory note in the principal amount of $130,000 with a maturity date of December 1, 2010, with interest to accrue daily and payable in Warrants through July 10, 2010. (the "Note"). Warrants will accrue at a rate of 333.333 shares of common stock per day up to a maximum warrant coverage of 10,000 shares of common stock per $13,000 original principal amount of Notes, which equals a maximum warrant of 100,000 shares of common stock with respect to the Note. After 30 days, the Note will bear interest payable in cash and Warrants representing the accrued interest will be issued at an exercise price of $1.30.
On June 11, 2010, the Company executed a promissory note in the principal amount of $26,000 with a maturity date of December 1, 2010, with interest to accrue daily and payable in Warrants through July 10, 2010. (the "Note"). Warrants will accrue at a rate of 333.333 shares of common stock per day up to a maximum warrant coverage of 10,000 shares of common stock per $13,000 original principal amount of Notes, which equals a maximum warrant of 20,000 shares of common stock with respect to the Note. After 30 days, the Note will bear interest payable in cash and Warrants representing the accrued interest will be issued at an exercise price of $1.30.
On June 28, 2010, the issuer entered into a loan guarantee agreement pursuant to which the reporting person will be issued up to 95,555 shares of issuer's common stock as compensation for guaranteeing $1,000,000 of issuer's bank debt through November 30, 2011 and $900,000 of bank debt from December 1, 2010 through March 28, 2011. Reporting person will receive 11,111 shares per month for five months, and 10,000 shares a month for four months. A minimum amount six months'compensation will be paid to the reporting person.
Issed to reporting person in lieu of cash for director's fees.