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: July 15, 1998
MEDIX RESOURCES, INC. (FORMERLY INTERNATIONAL NURSING SERVICES, INC)
(Exact name of registrant as specified in its charter)
Colorado 000-24768 84-1123311
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
7100 E. Belleview Avenue, Suite 301, Englewood, Colorado 80111
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (303) 741-4828
None.
(Former name or former address, if changes since last report)
Item 1. Changes in Control of Registrant. N/A.
Item 2. Acquisition or Disposition of Assets. N/A
Item 3. Bankruptcy or Receivership. N/A.
Item 4. Changes in Registrant's Certifying Accountant. N/A.
Item 5. Other Events. Press Release, dated July 15, 1998 announcing
the delisting of the Company's common stock on the
Nasdaq SmallCap Market and cancellation of the reverse
stock split previously approved by the Company's
shareholders.
Item 6. Resignations of Registrant's Directors. N/A.
Item 7. Financial Statements and Exhibits.
(a) Exhibits
Exhibit 99.1 Press Release, announcing the delisting of the Company's
common stock on the Nasdaq SmallCap Market and cancellation of the reverse
stock split previously approved by the Company's shareholders
Item 8. Change in Fiscal Year. N/A.
Item 9. Sales of Equity Securities Pursuant to Regulation S. N/A.
<PAGE>
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 hereunto duly authorized.
MEDIX RESOURCES, INC.
Date: July 20, 1998 By: /s/ John P. Yeros
----------------------
John P. Yeros, President and Chief Executive Officer
MEDIX RESOURCES ANNOUNCES DELISTING OF COMMON
STOCK AND CANCELLATION OF REVERSE SPLIT
For Immediate Release: Medix Resources, Inc. (OTCBB:MDIX)
Denver, Colo. July 15, 1998 - Medix Resources today announced that the Nasdaq
Stock Market, Inc. had delisted the Company's common stock from trading on the
Nasdaq SmallCap Market, effective the close of business on Wednesday, July 14,
1998, for failure to satisfy the revised listing maintenance standards adopted
by the Nasdaq Stock Market, Inc. last year.
The Company's common stock will be immediately eligible to trade on the OTC
Bulletin Board. Information about the OTCBB can be found on the internet at
www.OTCBB.com. However, quotes for stock traded on the OTC Bulletin Board are
not published in major newspapers, and can only be found in specialized
publications or on the internet.
In light of such delisting, the Company determined that it would not be in the
best interest of its shareholders to complete the reverse stock split that had
been approved by its shareholders earlier, and the Board of Directors
exercised its authority to abandon the reverse stock split. The reverse stock
split was principally aimed at increasing the stock price to a level that
would meet the new Nasdaq standards.
Medix Resources, Inc. through its wholly owned subsidiary Cymedix Lynx
Corporation, offers several fully secure patent pending internet
communications products, using an internet commerce business model. The
Company's core business also provides skilled nursing, therapy, rehabilitation
and other medical personnel for flexible staffing in home care, and in a broad
spectrum of healthcare and educational facilities.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of
1995. The statements contained in this release which are not historical facts
contain forward-looking information with respect to plans, projections and/or
future performance of the Company, the occurrence of which involve certain
risks and uncertainties detailed in the Company's Form 10KSB for 1997 and Form
10-QSB for its first quarter of 1998 that were filed with the Securities and
Exchange Commission on March 30, 1998 and May 12, 1998. Such information is
available from the SEC or from the Company.
Contact: John P. Yeros
Medix Resources, Inc.
(303) 393-1515
