UNITED STATES
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):
January 9, 2003 (January 8, 2003)
clickNsettle.com, Inc.
(Exact Name of Registrant as Specified in Charter)
Delaware 0-21419 25-2753988
(State or Other Jurisdiction (Commission File Number) (I.R.S. Employer
of Incorporation) Identification No.)
1010 Northern Boulevard
Great Neck, New York 11021
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (516) 829-4343
Index to Current Report on Form 8-K
of clickNsettle.com, Inc.
January 9, 2003
Item Page
---- ----
Item 5. Other Events 3
Signatures 4
-2-
Item 5. Other Events.
On January 8, 2003, clickNsettle.com, Inc. ("the Company") announced that the
Company will meet with the Nasdaq Listing Qualifications Panel on January 30,
2003 to consider its request for continued listing of the Company's common stock
on The Nasdaq SmallCap Market. Until a decision is made by the Nasdaq Listing
Qualifications Panel, the delisting of the Company's common stock from The
Nasdaq SmallCap Market is stayed. There can be no assurance the Panel will grant
the Company's request for continued listing. In the event the Panel determines
to delist the Company's securities, the Company's common stock will be listed on
the OTC Bulletin Board.
Previously, on December 23, 2002, the Company received a Nasdaq Staff
Determination indicating that the Company failed to comply with the minimum
$2,500,000 stockholders' equity requirement for continued listing set forth in
Marketplace Rule 4310(c)(2)(B), and that its securities are, therefore, subject
to delisting from The Nasdaq SmallCap Market. Additionally, on September 25,
2002, the Company received a letter from the Nasdaq Staff that its common stock
had failed to maintain a minimum market value of publicly held shares of
$1,000,000. As a result, the Company had been provided 90 calendar days, or
until December 24, 2002, to regain compliance. The Company has not been able to
regain compliance. Furthermore, on November 6, 2002, the Company received a
letter from the Nasdaq Staff that its common stock had failed to maintain a
minimum bid price of $1.00 over the previous 30 consecutive trading days. As a
result, the Company has been provided 180 calendar days, or until May 5, 2003,
to regain compliance.
-3-
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report on Form 8-K to be signed on its behalf by
the undersigned, hereunto duly authorized.
clickNsettle.com, Inc.
By: /s/ Roy Israel
Name: Roy Israel
Title: Chief Executive Officer and President
By: /s/ Patricia Giuliani-Rheaume
Name: Patricia Giuliani-Rheaume
Title: Chief Financial Officer and Vice President
Date: January 9, 2003
-4-