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): August 20, 1996
Commission file number 0-20309
TAPISTRON INTERNATIONAL, INC.
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(Exact name of registrant as specified in its charter)
GEORGIA 58-1684918
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(State or other jurisdiction of (IRS Employer Identification No.)
incorporation or organization)
6203 Alabama Highway
P.O. Box 1067
Ringgold, Georgia
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(Address of principal executive offices)
30736-1067
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(Zip Code)
(706) 965-9300
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(Registrant's telephone number, including area code)
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Item 5. Other Events.
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De-Listing of Warrants:
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The Company consented to the de-listing of its warrants from the Nasdaq Stock
Market effective as of August 20, 1996. Tapistron consented to Nasdaq's
de-listing of its warrants due to the lack of any significant trading activity
in the warrants and because there are no market makers for the warrants as
required by Nasdaq Rules.
De-Listing of Stock
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Nasdaq deleted the Company from the Nasdaq Stock Market effective August 29,
1996, as a result of the Company's non-compliance with the quantitative
maintenance criteria for continued listing on the Nasdaq Stock Market. The
Company does not intend to contest Nasdaq's decision to delete its stock from
the Nasdaq Stock Market at this time, but may re-apply for listing on Nasdaq in
the future. The Company's stock will continue to be traded as a bulletin board
stock.
Lanier Davenport's Resignation as Chairman
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On August 20, 1996, Lanier M. Davenport, Sr. resigned from his position as
Chairman of the Company's Board of Directors. Mr. Davenport decided to
voluntarily resign from his position as Chairman of the Board to allow Landav,
Inc., a company of which Mr. Davenport is a majority shareholder, CEO and
Chairman, to more effectively assist the Company in its efforts to raise capital
and devise a plan of reorganization in the Company's pending Chapter 11
reorganization proceedings.
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SIGNATURES
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.
Tapistron International, Inc.
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(Registrant)
Date: 9/4/96 /s/ J. Darwin Poe
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J. Darwin Poe
(Signing on behalf of the registrant
as President and Chief Financial Officer)
