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 June 11, 1998
COMMISSION FILE NO. 0-24812
DIVOT GOLF CORPORATION F/K/A BRASSIE GOLF CORPORATION
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(Exact name of registrant as specified in its charter)
DELAWARE 56-1781650
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(State or other jurisdiction (I.R.S. Employer Identification No.)
incorporation or organization)
One Tampa City Center, Suite 200, Tampa, FL 33602
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(Address of principal executive offices)
(813) 222-0611
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(Registrant's telephone number, including area code)
Check whether the registrant: (1) has filed all reports required to be filed by
Section 13 or 15 (d) of the Securities Exchange Act of 1934 during the preceding
12 months (or for such shorter period that the registrant was required to file
such reports), and (2) has been subject to such filing requirements for the past
90 days. Yes |X| No |_|
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DIVOT GOLF CORPORATION
FORM 8 - K
TABLE OF CONTENTS
Item 1. Changes in Control of Registrant - None
Item 2. Acquisition or Disposition of Assets - None
Item 3. Bankruptcy or Receivership - None
Item 4. Changes in Registrant's Certifying Accountant - None
Item 5. Other Events.....................................................Page 3
Item 6. Resignations of Registrant's Directors - None
Item 7. Financial Statements and Exhibits - None
Signatures................................................................Page 3
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ITEM 5. Other Events
On June 11, 1998, the Company received a letter from the Nasdaq Stock Market,
Inc. ("Nasdaq") notifying the Company that its securities are scheduled to be
delisted from the Nasdaq SmallCap Market effective the opening of business June
18, 1998. The reason stated for delisting is the Company's failure to meet both
(1) the net tangible asset, market capital, and net income, and (2) the bid
price requirements as set forth in the Nasdaq Marketplace Rules.
The Company will appeal the delisting, which under Nasdaq's rules will
automatically stay any delisting pending a ruling by the hearing panel. The
hearing is expected to be held within approximately four to six weeks. There can
be no assurance that the hearing (or any appeal therefrom) will result in a
ruling favorable to the Company nor that the Company's securities will continue
to be listed on the Nasdaq SmallCap Market as a result of the appeal.
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 herein duly authorized.
DIVOT GOLF CORPORATION
By: /s/ Clifford F. Bagnall
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Clifford F. Bagnall
Chief Financial Officer
Date: June 15, 1998
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