0001437749-13-009746.txt : 20130801 0001437749-13-009746.hdr.sgml : 20130801 20130801161718 ACCESSION NUMBER: 0001437749-13-009746 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20130729 ITEM INFORMATION: Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing FILED AS OF DATE: 20130801 DATE AS OF CHANGE: 20130801 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PAULSON CAPITAL CORP CENTRAL INDEX KEY: 0000704159 STANDARD INDUSTRIAL CLASSIFICATION: SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211] IRS NUMBER: 930589534 STATE OF INCORPORATION: OR FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-18188 FILM NUMBER: 131002943 BUSINESS ADDRESS: STREET 1: 1331 NW LOVEJOY STREET STREET 2: SUITE 720 CITY: PORTLAND STATE: OR ZIP: 97209 BUSINESS PHONE: 5032436000 MAIL ADDRESS: STREET 1: 1331 NW LOVEJOY STREET STREET 2: SUITE 720 CITY: PORTLAND STATE: OR ZIP: 97209 8-K 1 plcc20130730_8k.htm FORM 8-K plcc20130730_8k.htm

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 (Date of earliest event reported):      July 29, 2013

 

PAULSON CAPITAL CORP.

(Exact name of registrant as specified in its charter)

 

Commission File Number: 000-18188

 

 Oregon 

93-0589534 

(State or other jurisdiction of incorporation

or organization)

(I.R.S. Employer Identification No.)

 

 1331 N.W. Lovejoy Street, Suite 720, Portland, Oregon 

97209 

(Address of principal executive offices)

(Zip Code)

 

 Registrant’s telephone number, including area code: 503-243-6000 

  

Former name or former address if changed since last report: 811 SW Naito Parkway, Suite 300, Portland, OR 97204 

 

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:

 

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

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.

 

On July 27, 2013, Steve H. Kleemann, a member of the Board of Directors and Audit Committee of Paulson Capital Corp., died.

 

As a result of Mr. Kleemann’s death, Paulson is no longer in compliance with certain NASDAQ listing requirements, including the Majority Independent Board requirement (Listing Rule 5604(b)(1)) and the Audit Committee composition requirement (Listing Rule 5604(c)(2)).  Paulson intends to rely upon the “cure periods” set forth in Listing Rule 5605(b)(1)(A) and (c)(4) to regain compliance with the independent director and audit committee composition requirements within the next 180 days.

 

Paulson notified NASDAQ of these matters on July 29, 2013.  

 

 
 
 

 

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.

 

 

PAULSON CAPITAL CORP.

 

       

Date: August 1, 2013

By:

/s/ Chester L. F. Paulson

 

 

 

Chester L. F. Paulson

 

   

President and Chief Executive Officer