Item  1.01 Entry into a Material Definitive Agreement.

          Fourth Amendment to Loan Agreement with Applied Digital Solutions, Inc.

     On February 13, 2007, VeriChip Corporation (“VeriChip”) and Applied Digital Solutions, Inc. (“Applied Digital”), which currently holds a controlling interest in our common stock, entered into a Fourth Amendment to Commercial Loan Agreement and Security Agreement (the “Fourth Amendment”). The Fourth Amendment confirmed, among other things, that VeriChip’s initial public offering shall not be deemed a breach or an event of default under that certain commercial loan agreement and security agreement, each dated December 27, 2005, as amended from time to time, between VeriChip and Applied Digital (the “Loan Agreements”).

     The Fourth Amendment is included in this Current Report as Exhibit 10.1. For additional information concerning the Loan Agreements, please refer to VeriChip’s Registration Statement on Form S-1 (No. 333-130754) filed with the Securities and Exchange Commission on February 9, 2007.

Section 9 — Financial Statements and Exhibits

     Item 9.01 Financial Statements and Exhibits.

     (d) Exhibits.

10.1		Fourth Amendment to Commercial Loan Agreement and Security Agreement between VeriChip Corporation and Applied Digital Solutions, Inc. dated February 13, 2007

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.

EXHIBIT INDEX

Exhibit Number		Description
10.1		Fourth Amendment to Commercial Loan Agreement and Security Agreement between VeriChip Corporation and Applied Digital Solutions, Inc. dated February 13, 2007