SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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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 3, 1998
GROUP LONG DISTANCE, INC.
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(Exact name of Registrant as Specified in Charter)
Florida 0-21913 65-0213198
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(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification
organization) No.)
1451 West Cypress Creek Road, Suite 200, Fort Lauderdale, Florida 33309
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (954)771-9696
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Item 1. Other Events
On December 2, 1998, the Company was notified by the Nasdaq Stock
Market that the Company's securities were delisted from the Nasdaq
SmallCap Market effective with the close of business on December 2,
1998, for failure to be in compliance with maintenance standards. The
Company's securities were previously delisted from the Boston Stock
Exchange for failing to be in compliance with minimum shareholders
equity requirements.
Item 2. Financial Statements, Pro Forma Financial Information and Exhibits
1. Press Release issued by the Company dated December 3, 1998.
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SIGNATURE
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 thereunto duly authorized.
GROUP LONG DISTANCE, INC.
By: /s/ Gerald M. Dunne, Jr.
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Gerald M. Dunne, Jr.
President
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EXHIBIT INDEX
Exhibit
99.1 Press Release issued by the Company dated December
3, 1998.
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Exhibit 99.1
FOR IMMEDIATE RELEASE CONTACT: PETER J. RUSSO
CHIEF FINANCIAL OFFICER
(954) 771-9696
GROUP LONG DISTANCE DELISTED FROM THE NASDAQ SMALLCAP MARKET
December 3, 1998, Ft. Lauderdale, Florida-Group Long Distance, Inc. ("Group Long
Distance" or the "Company") (NASDAQ symbol: GLDI, GLDIW), today announced that
it has been notified by the Nasdaq Stock Market that it has delisted the
securities of the Company as of December 2, 1998 for failure to be in compliance
with maintenance standards. The Company plans to appeal this decision which does
not result in a stay of the delisting process. The Company's securities were
previously delisted from the Boston Stock Exchange for failing to be in
compliance with minimum shareholders equity requirements. The Company is
currently pursuing measures in order to be in compliance with all maintenance
standards, as well as secondary trading exemptions and OTC Bulletin Board
eligibility.
Group Long Distance is a long distance telecommunications provider. The Company
utilizes special network service contracts to provide customers with products
and services through major telecommunications carriers.
Certain of the statements contained in this press release may be deemed
forward-looking statements. Such statements, and other matters addressed in this
press release involve a number of risks and uncertainties. Among the factors
that could cause actual results to differ materially from these statements and
other matters, are the risks and other factors, detailed from time to time in
the Company's reports filed with the United States Securities and Exchange
Commission.
