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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 earliest event reported) December 3, 1998
COMPARE GENERIKS, INC.
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(exact name of registrant as specified in its charter)
DELAWARE
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(State or other jurisdiction of incorporation)
0-27804 11-3289396
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(Commission File Number) (IRS Employer Identification Number)
60 Davids Drive, Hauppauge, NY 11788
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(Address of principal executive offices) (Zip Code)
Registrant's Telephone Number, Including Area Code: (516) 273-7756
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(Former name or former address, if changed since last report)
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Item 5. Other Events.
Compare Generiks, Inc. (the "Registrant") was advised by The Nasdaq
Stock Market that it failed to meet the continued listing requirements of The
Nasdaq SmallCap Market. Specifically, the Company continues to fail to maintain
a closing bid price greater than or equal to $1.00 per share.
The Nasdaq Stock Market further stated that failure to meet the
requirements by January 6, 1999 will subject the Company's securities to
delisting from The Nasdaq SmallCap Market. As a result, the price of, and the
volume of trading in, the Company's securities may be negatively effected.
Item 7. Financial Statements, Pro Forma Financial Information and
Exhibits
(c) Exhibits
(i) Letter from The Nasdaq SmallCap Market dated October 6,
1998.
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53944
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly authorized and caused the undersigned to sign this
Report on the Registrant's behalf.
COMPARE GENERIKS, INC.
By: /s/ Thomas A. Keith
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Thomas A. Keith
President and Chief Executive Officer
Dated: December 8, 1998
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NASDAQ
The Nasdaq Stock Market
9801 Washingtonian Blvd. - 5th Floor
Gaithersburg, MD 20878
202-496-2500
(Fax) 202-496-2699
VIA FACSIMILE & REGULAR MAIL
October 6, 1998
Mr. Thomas A. Keith
President and CEO
Compare Generiks, Inc.
300 Oser Avenue
Hauppauge, NY 11788
Dear Mr. Keith:
The purpose of my letter is to bring to your attention a concern regarding the
continued listing of Compare Generiks, Inc.'s shares of common stock (COGE) on
The Nasdaq SmallCap Market. Based upon the staff's review of the price data
covering the last thirty consecutive trade dates, your Company's shares of
common stock have failed to maintain a closing bid price greater than or equal
to $1.00. To be eligible for continued listing, all securities, the Company's
shares of common stock, must maintain a minimum bid price of $1.00.(1)
We recognize this deficiency may be a temporary situation, and no delisting
action with respect to the bid price deficiency will be initiated at this
time. Instead, the Company will be provided ninety (90) calendar days in which
to regain compliance with the minimum bid price requirement.(2) If at anytime
within the next ninety calendar days from the date of this letter, the shares
of common stock reports a closing bid price of $1.00 or greater for ten
consecutive trading days, it will have complied with the minimum bid price
requirement.
However, if the Company is unable to demonstrate compliance with the minimum
$1.00 bid price on or before the end of the ninety day period January 6, 1999,
the Company's securities will be subject to delisting, effective with the
close of business on January 6, 1999. To stay the delisting, the Company may
request a hearing by the close of business on January 6, 1999. For more
information on the hearing process, please contact the Listing Qualifications
Hearing Department at (202) 496-2635.
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(1) Marketplace Rule 4310(c)(04).
(2) The ninety day period relates exclusively to the bid price deficiency. The
Company may be delisted during the ninety day period for failure to maintain
compliance with any other listing requirement for which it is currently on
notice or which occurs during the period.
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If you have any questions, concerning the compliance issues discussed above,
please call me at (800) 955-8109.
Very truly yours,
s/ Marilyn Bacot
Marilyn Bacot
Analyst
Nasdaq Listing Qualifications
cc: Cam Funhouser
Market Surveillance
