FORM 8-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
June 22, 1998
Date of Report
AJAY SPORTS, INC.
(Exact Name of Registrant as specified in its charter)
Delaware 0-18204 39-1644025
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(State or other (Commission (I.R.S. Employer
jurisdiction of file number) Identification Number)
incorporation or
organization)
1501 E. Wisconsin Street
Delavan, WI 53115
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (414) 728-5521
N/A
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Former name or former address, if changed from last report
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ITEM 5: Other Events
On June 11, 1998, the Registrant was advised by the Nasdaq Stock
Market, Inc. ("Nasdaq") that the Registrant had the option of continuing the
hearing process related to its continued listing on the Nasdaq SmallCap
Market, as Nasdaq had advised the Registrant on that date that it planned to
delist the Registrant from its SmallCap Market because (1) the Registrant did
not currently meet the new Nasdaq listing maintenance standards, effective
February 23, 1998, for net tangible assets and minimum bid price, and (2) the
Nasdaq Listing Qualification Panel (the "Panel"), which reviewed the
Registrant's compliance plan and request for an exception to the new listing
requirements submitted to the Panel on March 26, 1998, determined not to
grant such exception to the Registrant at this time.
On June 16, 1998, the Registrant exercised its right to appeal this
ruling and has requested an oral hearing, under Nasdaq Stock Market rules,
with a new Nasdaq listing panel. The Registrant expects to have its oral
hearing in late July 1998, and is awaiting notification of the hearing date
from Nasdaq. If Nasdaq ultimately determines not to accept the Registrant's
oral hearing appeal to retain its listing on the Nasdaq SmallCap Market, the
Registrant will attempt to be included on the OTC Bulletin Board, provided
the Registrant meets this service's standards for market makers and other
requirements.
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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.
Date: June 22, 1998
AJAY SPORTS, INC.
By s\Robert R. Hebard
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Robert R. Hebard, Secretary
