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 of earliest event reported): February 17, 2000
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Evans Systems, Inc.
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(Exact name of registrant as specified in its charter)
Texas 0-21956 74-1613155
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
720 Avenue F North, Bay City, Texas 77414
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Address of principal executive offices
Registrant's telephone number, including area code: (409) 245-2424
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N/A
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(Former name or former address, if changed since last report.)
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Item 5. Other Events.
On February 17, 2000, Evans Systems, Inc. (Nasdaq: EVSI) (the
"Company") received a letter from the Nasdaq Stock Market ("Nasdaq") informing
the Company that Nasdaq has determined to delist the Company's securities from
The Nasdaq Stock Market effective with the close of business, February 17, 2000.
For additional information, reference is made to the news release which is
incorporated herein by reference and is attached hereto as Exhibit 99.1.
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Exhibit No. Exhibits
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99.1 News Release of Evans Systems dated February 18, 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 hereunto duly authorized.
EVANS SYSTEMS, INC.
Dated: February 18, 2000 By:/s/ Richard A. Goeggel
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Name: Richard A. Goeggel
Title: Vice President and Chief
Financial Officer
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FOR IMMEDIATE RELEASE
J. L. "Jerry" Evans, Jr.,
Vice President
Evans Systems, Inc
409.245.2424
For Immediate Release
February 18, 2000
Evans Systems' Receives
Ruling From The Nasdaq Stock Market
BAY CITY, TX, February 18, 2000. Evans Systems, Inc. (Nasdaq: EVSI) announced
today that it was notified late yesterday that Nasdaq has determined to delist
the Company's Common Stock from the Nasdaq Stock Market effective with the close
of business, February 17, 2000. As previously disclosed in the Company's Annual
Report on Form 10-K, the Company was previously notified that it did not fully
satisfy all of Nasdaq's requirements for continued listing. Following an oral
hearing that was held on January 14, 2000 before the Nasdaq Listing
Qualifications Panel, the panel has determined to delist the Company's Common
Stock from the Nasdaq National Market.
Evans Systems plans to hold it's annual shareholder meeting on the previously
announced sale of it's Texas based convenience store and petroleum marketing
assets to TSC and subsequent merger with I-Net Holdings in April 2000. The
company is presently finalizing its proxy materials and will be filing it's
preliminary proxy statement covering the transactions within the next few days.
I-Net plans to file for a initial listing application to be traded on the Nasdaq
National Market. During the interim period , Evans Systems will explore all
options with Nasdaq relating to today's decision by the Listing Qualifications
Panel and is also reviewing listing requirements for listing on the Nasdaq
SmallCap market or AMEX.
Beginning as of Friday, February 18, the Company intends to immediately list its
Common Stock on the OTC Bulletin Board. (OTCBB:EVSI)
About Evans Systems, Inc.
Evans Systems, Inc. is currently repositioning itself as a provider of
e-commerce marketing and advertising. Currently, business segments include:
convenience stores, a chain of retail outlets in South Texas; petroleum
marketing, a distributor of petroleum products; and EDCO Environmental, Inc.
which provides environmental soil remediation services
This press release contains certain forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended, which are intended to be
covered by the safe harbors created hereby. The forward looking information and
statements are contingent upon the timely completion of the
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merger agreement with I-Net and the previously announced sale of the assets to
TSC Service, Inc. Potential risks include the occurrence or non-occurrence of
required closing conditions as set forth in the definitive agreements,
uncertainties regarding the ability to successfully integrate the combined
businesses, as well as the risks discussed in the Evans Systems Annual Report on
form 10-K for the fiscal year ended September 30, 1999, as amended. Investors
are cautioned that all forward-looking statements contained herein are
reasonable, and assumptions could be inaccurate, and involve certain risk and
therefore, there can be no assurance that forward-looking statements included
herein, the inclusion of such information should not be regarded as a
representation by the Company or any other person that the objectives and plans
of the Company will be achieved.
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