-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, FA+84+G+kzFbuqiQ6G+Op4zC3Iqy1yqunKyxbQCcqtB/vXTFC2T+hFYlLVPr3GUQ YmNsi106p5hLFEayeGkCMQ== 0001102624-07-000275.txt : 20071019 0001102624-07-000275.hdr.sgml : 20071019 20071018195332 ACCESSION NUMBER: 0001102624-07-000275 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20071018 ITEM INFORMATION: Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20071019 DATE AS OF CHANGE: 20071018 FILER: COMPANY DATA: COMPANY CONFORMED NAME: QI SYSTEMS INC CENTRAL INDEX KEY: 0001125672 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMPUTER PROGRAMMING SERVICES [7371] IRS NUMBER: 000000000 FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-30948 FILM NUMBER: 071179791 BUSINESS ADDRESS: STREET 1: 609 CHEEK SPARGER ROAD STREET 2: SUITE 300 CITY: COLLEYVILLE STATE: TX ZIP: 76034 BUSINESS PHONE: 817-485-8125 MAIL ADDRESS: STREET 1: 609 CHEEK SPARGER ROAD STREET 2: SUITE 300 CITY: COLLEYVILLE STATE: TX ZIP: 76034 FORMER COMPANY: FORMER CONFORMED NAME: QI TECHNOLOGIES CORP DATE OF NAME CHANGE: 20001003 8-K 1 qisystems8k.htm QI SYSTEMS INC. 8-K


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 18, 2007
(Date of earliest event reported)

QI Systems Inc.
(Exact name of registrant as specified in its charter)

TX
(State or other jurisdiction
of incorporation) 		000-30948
(Commission File Number) 		20-5126146
(IRS Employer
Identification Number)

609 Cheek Sparger Road; Suite 300,
Colleyville, Texas
(Address of principal executive offices) 		  76034
(Zip Code)

817-485-8111
(Registrant's telephone number, including area code)

Not Applicable
(Former Name or Former Address, if changed since last report)



 Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing

See press release dated October 18, 2007 attached.

Item 9.01. Financial Statements and Exhibits

(a) Financial statements:
            None
(b) Pro forma financial information:
            None
(c) Shell company transactions:
            None
(d) Exhibits
            99.1       Press Release of QI Systems Inc. dated October 18, 2007

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.


Dated: October 18, 2007
 QI SYSTEMS INC.

By:  /s/ Robert McLean                    
     Robert McLean
     CFO

Exhibit Index
Exhibit No. Description
99.1 Press Release of QI Systems Inc. dated October 18, 2007
EX-99 2 qisystemsinc8k31739.htm QI SYSTEMS PRESS RELEASE

QI Systems Receives NASDAQ Delinquency Notification

DALLAS, TX and VANCOUVER, BC -- 10/18/2007 -- QI Systems Inc. (OTCBB: QIIIE), a leading developer and integrator of contact and contactless card payment, access control and tracking solutions, announced today that it received a delinquency notification from NASDAQ and expects its common shares to eventually be delisted from the Over the Counter Bulletin Board exchange.

The delisting will occur as the result of the Company's decision to delay the filing of it 10-KSB for the year-ended June 30, 2007. Following notification of the delisting, the Company will continue to be traded on the OTCBB for 30 days with an "E" appended to its symbol. The Board of Directors determined that the financial requirements to maintain its listing outweighed the benefits to the Company and its stockholders and that it is in the best interests of the shareholders that the Company devotes its resources to the development and launch of its new QiWave™ contactless product line. The Company expects to continue its other ongoing reporting requirements. Going forward, the Company's shares will continue to be listed on the Pink Sheets.

About QI

QI Systems Inc. develops and markets innovative chip-based card payment and tracking solutions for a number of industries as well as national, state and local government agencies. QI's products and core competencies include smart-card and stored-value systems, security protocols, data communication software design and hardware manufacture. For more information about QI Systems Inc., visit http://www.qisystemsinc.com.

Matters discussed in this press release are "forward-looking statements" and are subject to certain risks and uncertainties. Consider all risk factors carefully when evaluating forward-looking statements, as actual results may differ materially from current expectations. QI Systems undertakes no obligation to publicly update such forward-looking statements. 

Corporate & Investor Relations Contact:
Steven R. Garman
President & CEO
(817) 485-8111
sgarman@qisystemsinc.com
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