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 October 22, 1998
COMMISSION FILE NO. 0-24812
DIVOT 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 4
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ITEM 5. Other Events
On October 22, 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 close of business
on January 22, 1999. The reason stated for delisting is the Company's failure to
meet the bid price requirement as set forth in Nasdaq Marketplace Rules.
Nasdaq's letter to the Company stated that it recognized that the Company's
failure to meet the minimum bid price requirement may be a temporary situation.
Nasdaq will take no delisting action with respect to the bid price deficiency at
this time. Instead, Nasdaq will provide the Company ninety (90) calendar days
within which to regain compliance with the minimum bid price requirement. If at
anytime within ninety (90) calendar days beginning on October 22, 1998, the
Company's common stock reports a closing bid price of at least $1.00 for ten
(10) consecutive trading days, it will have complied with the minimum bid price
requirement. The Company also has the option to request a hearing by the
scheduled delisting date. If the Company requests a hearing, the delisting would
be stayed until the hearing date.
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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 herein duly authorized.
DIVOT GOLF CORPORATION
/s/Clifford F. Bagnall
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Clifford F. Bagnall, Chief Financial Officer
(Principal Financial and Accounting Officer)
Date: October 28, 1998
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