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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: NOVEMBER 22, 2000
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(DATE OF EARLIEST EVENT REPORTED)
INSURANCE MANAGEMENT SOLUTIONS GROUP, INC.
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(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
Florida 000-25273 59-3422536
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(STATE OR OTHER (COMMISSION FILE (I.R.S. EMPLOYER
JURISDICTION OF NUMBER) IDENTIFICATION NUMBER)
INCORPORATION)
360 Central Avenue
St. Petersburg, Florida 33701
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(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE)
(727) 803-2040
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(REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE)
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ITEM 5. OTHER EVENTS AND REGULATION FD DISCLOSURE.
Insurance Management Solutions Group, Inc. (the "Company") is
filing this Current Report on Form 8-K to report that it has received
notification from The Nasdaq Stock Market that the Company's common
stock will be delisted from trading on the Nasdaq National Market at
the opening of business on February 22, 2001. Such notification
indicated that this action is being taken by Nasdaq as a result of the
failure of the Company's common stock to satisfy the maintenance
criteria for continued listing on the Nasdaq National Market. Based
upon information presently available to the Company, including the
current minimum bid price for the Company's common stock, the Company
does not believe it will have grounds to contest such delisting. In
light of such action, the Company intends to explore other
opportunities to provide a liquid market for its common stock,
including possible trading in the over-the-counter (OTC) market,
although no assurances can be given that such a liquid market can or
will be provided.
A copy of the Company's press release, dated November 29,
2000, announcing the foregoing events, is filed as Exhibit 99 to this
current report on Form 8-K.
Certain statements contained in this report, including
statements regarding the pending delisting of the Company's common
stock from trading on the Nasdaq National Market and the potential for
future trading on the OTC market, and the statements contained herein
regarding matters that are not historical facts, are "forward-looking"
statements (as such term is defined in the Private Securities
Litigation Reform Act of 1995). Because such statements are subject to
risks and uncertainties, actual results may differ materially from
those expressed or implied by such forward-looking statements. Factors
that could cause actual results to differ materially from those
expressed or implied by such forward-looking statements include, but
are not limited to, changes in the market price of the Company's common
stock, and difficulties in obtaining or retaining market makers for the
Company's common stock.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(a) FINANCIAL STATEMENTS OF BUSINESS ACQUIRED.
NOT APPLICABLE
(b) PRO FORMA FINANCIAL INFORMATION.
NOT APPLICABLE
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(c) EXHIBITS.
99 Press Release, dated November 29, 2000
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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.
INSURANCE MANAGEMENT SOLUTIONS GROUP, INC.
By: /s/ David M. Howard
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David M. Howard
President and Chief Executive Officer
Date: November 29, 2000
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EXHIBIT INDEX
EXHIBIT NO. DESCRIPTION
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99 Press Release, dated November 29, 2000
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