U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
NUWAY MEDICAL, INC.
COMMON STOCK
67071A 10 0
(CUSIP NUMBER)
23461 South Pointe Drive, Suite 200
Laguna Hills, CA 92653
(DATE OF EVENT WHICH REQUIRES FILING OF THIS STATEMENT)
April 9, 2003
If the filing person has previously filed a statement on Schedule 13G to
report the acquisition which is the subject of this Schedule 13C, and is
filing this schedule because of Rule 13d-1(e), (f) or (g), check the
following box [ ].
1. Names of Reporting Persons. S.S or I.R.S. Identification Nos. of Above
Persons (entities only): DENNIS CALVERT.
2. Check the Appropriate Box if a Member of a Group (See Instructions):
(a)________________________________________________________________________
(b)________________________________________________________________________
3. SEC Use Only:
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4. Source of Funds (See Instructions): OO
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5. Check if Disclosure of Legal Proceedings is Required Pursuant to Items
2(d) or 2(e):
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6. Citizenship or Place of Organization: United States Citizen
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Number of Shares Beneficially Owned by Each Reporting Person With:
7. Sole Voting Power: 7,782,107
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8. Shared Voting Power:
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9. Sole Dispositive Power: 7,782,107
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10. Shared Dispositive Power:
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11. Aggregate Amount Beneficially Owned by Each Reporting Person:
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12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares:
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13. Percent of Class Represented by Amount in Row (11): 22.86%
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14. Type of Reporting Person: IN
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12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares:
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ITEM 1. SECURITY AND ISSUER.
Nuway Medical, Inc
Common Stock, $.00067 par value
23461 South Pointe Drive, Suite 200
Laguna Hills, CA 92653
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ITEM 2. IDENTITY AND BACKGROUND.
(a) Name: Dennis Calvert
(b) 23461 S. Pointe Drive, Suite 200, Laguna Hills, CA 92653
(c) President of NuWay Medical, Inc., 23461 S. Pointe Drive, Suite 200,
Laguna Hills, CA 92653
(d) None
(e) None
(f) United States Citizen
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
(a) New Millennium Capital Partners, LLC agreed to accept 600,000 shares of
the Issuer pursuant to an agreement between the Issuer and Med
Wireless, Inc. for a 15-year licensing agreement. New Millennium
Capital Partners, LLC is controlled and owned in part by Dennis
Calvert. The 600,000 shares received by New Millennium Capital
Partners, LLC was its pro-rata share as a shareholder of Med Wireless,
Inc. pursuant to the terms of the license agreement.
(b) Shares acquired pursuant to an agreement to purchase a $1,120,000 note
held by Summit Ventures, Inc. due and payable by the Company on June
15, 2003. As part of this transaction, New Millennium purchased from
shareholders Camden Holding, Inc and Summit Healthcare, Inc. 4,182,107
shares of the Company. New Millennium Capital Partners, LLC is
controlled and owned in part by Dennis Calvert. The consideration for
this transaction was a $900,000 note payable to the sellers by New
Millennium Capital Partners, LLC, $500,000 of which was attributed to
The purchase of the subject shares ($0.119 per share).
(c) 3,000,000 shares acquired for services as an Officer and Director of
the Issuer.
ITEM 4. PURPOSE OF TRANSACTION.
(a) NEW MILLENNIUM CAPITAL PARTNERS, LLC ACQUISITION OF 600,000 SHARES
OF COMMON STOCK OF THE ISSUER: The purpose of this transaction was to enable the
Issuer to obtain a 15-year licensing agreement with Med Wireless, Inc. without
having to expend operating capital of the Issuer.
(b) NEW MILLENNIUM CAPITAL PARTNERS, LLC ACQUISITION OF 4,182,107
SHARES OF COMMON STOCK OF THE ISSUER: The purpose of this transaction was to
enable the Issuer purchase a $1,120,000 note held by Summit Ventures, Inc. due
and payable by the Issuer on June 15, 2003 without having to expend operating
capital of the Issuer. As disclosed in the April 10, 2003 8-k filing by the
Issuer, the Issuer elected to convert the $1,120,000 note purchased by New
Millennium Capital Partners, LLC into equity in the Issuer. The Issuer has
elected to withhold delivery of the shares pursuant to that conversion until it
has had ample opportunity to review the facts and circumstances related to the
conversion with a Qualifications Panel at The Nasdaq Stock Market, Inc. and has
obtained, if necessary, the requisite shareholder approvals. Reference is made
to the April 10, 2003 8-k filing for details of this transaction.
(c) DENNIS CALVERT'S ACQUISITION OF 3,000,000 SHARES OF COMMON STOCK OF
THE ISSUER: The purpose of this transaction was to enable the Issuer to receive
services from Mr. Calvert as an Officer and Director of the Issuer without
having to expend operating capital of the Issuer.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
(a)-(b) See cover page.
(c) New Millennium Capital Partners, LLC has entered into no
transactions other than described herein in the common stock of the Issuer
during the past 60 days.
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ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO
SECURITIES OF THE ISSUER.
The Reporting Person does not have any contracts, arrangements, understandings
or relationships with any other person with respect to the securities of the
Issuer. (Voting trusts, agreements to issue finder's fees, loan or option
arrangements, etc.)
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
No. Description
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Secured Term Promissory Note
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify
that the above information set forth in this statement is true, complete and
correct.
Date: April 18, 2003 /S/ DENNIS CALVERT
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Dennis Calvert