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):
December 27, 2002 (December 23, 2002)
clickNsettle.com, Inc.
(Exact Name of Registrant as Specified in Charter)
Delaware 0-21419 25-2753988
(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) 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.
December 27, 2002
Item Page
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Item 5. Other Events 3
Signatures 4
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Item 5. Other Events.
On December 23, 2002, clickNsettle.com, Inc. ("the Company") received a Nasdaq
Staff Determination indicating that the Company fails 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. The Company intends to request a
hearing before a Nasdaq Listing Qualifications Panel to review the Nasdaq Staff
Determination. There can be no assurance the Panel will grant the Company's
request for continued listing.
Previously, 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 has been provided
90 calendar days, or until December 24, 2002, to regain compliance. The Company
has not been able to regain compliance. Additionally, 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.
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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: December 27, 2002
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