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 (Date of earliest event reported) October 28, 1997
RED HOT CONCEPTS, INC.
(Exact name of registrant as specified in its charter)
DELAWARE 33-86166 52-1887105
(State of Organization) (Commission File No.) (IRS Employer
Identification Number)
6701 Democracy Boulevard, Suite 300
Bethesda, MD 20817
(Address of principal executive offices)
(301) 493-4553
(Registrant's telephone number, including area code)
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Item 5. Other Events
On October 28, 1997, the Company issued a press release announcing
that, effective immediately, the Company's Common Stock, would continue to be
listed on the Nasdaq SmallCap Market via an exception from the bid price and
capital and surplus requirements of the Nasdaq SmallCap market. The Nasdaq
listing Qualifications Panel granted the Company a temporary exception from
these standards subject to the Company's meeting certain conditions.
Item 7. Financial Statements and Exhibits
(C) Exhibits
The following exhibit is filed as part of this Current Report on Form 8-K:
EX-2.2 Exhibit
(1) Press Release dated October 28, 1997.
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SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) 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.
Red Hot Concepts, Inc.
By:/s/ Colin Halpern
Colin Halpern
President
Date: October 28, 1997
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EXHIBITS
Exhibit Number and Description
EX-2.2 Exhibit
(1) Press Release dated October 28, 1997.
RHC(TM)
Red Hot Concepts, Inc.
FOR IMMEDIATE RELEASE NEWS RELEASE
Contact: Amy Lipsius Red Hot Concepts, Inc.
(301) 493-4553 6701 Democracy Boulevard
Bethesda, MD 20817
RED HOT CONCEPTS, INC. ANNOUNCES CONDITIONAL NASDAQ TRADING
BETHESDA, MD, October 28, 1997 - Red Hot Concepts, Inc.
(NASDAQ: RHCSC) announced today that its common stock will continue to be listed
on The Nasdaq SmallCap Market via on exception from the Capital and Surplus and
the Minimum Bid Price requirements.
Though Red Hot Concepts is currently in compliance with both
requirements, the Company failed to meet the Capital and Surplus requirement as
of June 29, 1997 and it failed to meet the Minimum Bid price requirement as of
May 29, 1997. As a result, Nasdaq has questioned the company's ability to
maintain long-term compliance. Red Hot Concepts has been granted a temporary
exception from its standards, subject to the company meeting certain conditions.
The exception will expire on November 30, 1997. In the event the company is
deemed to have met the terms of the exception, it shall continue to be listed on
The Nasdaq SmallCap Market.
Red Hot Concepts believes that it can continue to meet these
conditions, though there can be no assurance that it will do so. If at some
future date the company's securities should cease to be listed on The Nasdaq
SmallCap Market, they may continue to be listed in the OTC-Bulletin Board. For
the duration of the exception, Red Hot Concept's Nasdaq symbol will be (RHCSC).
Red Hot Concepts is currently the master licensee to the
Chili's Grill & Bar concept in the United Kingdom and Australia. The company
currently owns and operates five Chili's restaurants in its territories.
