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 Earliest Event Reported: January 9, 2001
USDATA CORPORATION
(Exact name of registrant as specified in its charter)
Delaware 000-25936 75-2405152
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(State or other jurisdiction of (Commission File Number) (IRS Employer
incorporation or organization) Identification No.)
2435 N. Central Expressway, Richardson, Texas 75080-2722
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (927) 680-9700
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ITEM 5. OTHER EVENTS.
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On November 29, 2000, the Company received a Nasdaq Stock Market
("Nasdaq") Staff Determination that the Company was not in compliance with the
minimum stock market capitalization of $50,000,000 required by Marketplace Rule
4450(b)(1)(A). On January 2, 2001, the Company received a Nasdaq Staff
Determination that the Company did not meet a 30 day grace period provided by
Nasdaq to regain compliance with this Rule. The Nasdaq Staff Determination in
the November 29, 2000 and January 2, 2001 letters also included a statement that
as of the Nasdaq determination dates, the Company is not in compliance with the
maintenance standards set forth in alternate Marketplace Rules. The alternate
Marketplace Rules require that the Company maintain a minimum of $4,000,000 in
net tangible assets as set forth in Marketplace Rule 4450(a)(3), maintain a
minimum bid price of its common stock of at least $1.00 per share as set forth
in Marketplace Rule 4450(a)(5) and maintain certain other requirements. As a
result, the Company's securities are subject to delisting from the Nasdaq
National Market.
The Nasdaq has notified the Company that, absent a successful appeal by
the Company, its common stock will be removed from listing on the Nasdaq
National Market. The Company has requested a hearing from a Nasdaq Listing
Qualifications Panel to review the Staff Determination, and has been advised by
Nasdaq that, pending completion of the appeal process, its stock will continue
to be listed on the Nasdaq National Market. The Company expects the hearing to
be scheduled for a date within 45 days.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
99.1 Press Release dated January 9, 2001
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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, thereunto duly authorized.
Dated: January 9, 2001
USDATA CORPORATION
By: /s/ Robert A. Merry
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Name: Robert A. Merry
Title: Chief Executive Officer
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EXHIBIT INDEX
Sequentially
Exhibit Numbered
No. Exhibit Description Page
99.1 Press Release dated January 9, 2001 1
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