-----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, EkS9Nx9P5oetfElR1GISjobNdDqbKaXN+MUujZYKGqUewUrslzSPqDYcKmMIYs1i r965CmSMAr/hPtYfalIIAw== 0001072613-03-000867.txt : 20030521 0001072613-03-000867.hdr.sgml : 20030521 20030521133815 ACCESSION NUMBER: 0001072613-03-000867 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20030516 ITEM INFORMATION: Financial statements and exhibits ITEM INFORMATION: Regulation FD Disclosure FILED AS OF DATE: 20030521 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DRIVERSSHIELD COM CORP CENTRAL INDEX KEY: 0000778164 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-MISCELLANEOUS REPAIR SERVICES [7600] IRS NUMBER: 112750412 STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-21467 FILM NUMBER: 03714246 BUSINESS ADDRESS: STREET 1: 51 E BETHPAGE ROAD CITY: PLAINVIEW STATE: NY ZIP: 11803 BUSINESS PHONE: 5169381010 MAIL ADDRESS: STREET 1: 51 E BETHPAGE ROAD CITY: PLAINVIEW STATE: NY ZIP: 11803 FORMER COMPANY: FORMER CONFORMED NAME: FIRST PRIORITY GROUP INC DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: NATIONAL FLEET GROUP INC DATE OF NAME CHANGE: 19880329 FORMER COMPANY: FORMER CONFORMED NAME: UNISEARCH INC DATE OF NAME CHANGE: 19860814 8-K 1 form8-k_11959.txt FORM 8-K DATED MAY 16, 2003 ================================================================================ 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) May 16, 2003 ------------------------------- ACCESSITY CORP. - -------------------------------------------------------------------------------- (Exact name of registrant as specified in its charter) New York 0-21467 11-2750412 - -------------------------------------------------------------------------------- (State or other jurisdiction (Commission (IRS Employer of incorporation) File Number) Identification No.) 12514 West Atlantic Boulevard 33071 - -------------------------------------------------------------------------------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code (954) 752-6161 ---------------------------- - -------------------------------------------------------------------------------- (Former name or former address, if changed since last report.) ================================================================================ ITEM 9. REGULATION FD DISCLOSURE This information is being provided pursuant to Item 12. Results of Operations and Financial Condition. On May 16, 2003 the Registrant reported in a press release its financial results for the quarter ended March 31, 2003. ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS 99.1 Press release issued by the Registrant on May 16, 2003 filed herein. 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 thereunto duly authorized. driversshield.com By: /s/ Barry Siegel -------------------------- Name: Barry Siegel Title: Chairman and CEO Date: May 21, 2003 2 EXHIBITS INDEX 99.1 Press release issued by the Registrant on May 16, 2003 filed herein. 3 EX-99.1 3 exh99-1_11959.txt PRESS RELEASE EXHIBIT 99.1 ------------ NEWS RELEASE FOR IMMEDIATE RELEASE ACCESSITY CONTACT: CHARLES R. HOLCOMB (954)752-6161 EXT. 241 CORPORATE WEB ADDRESS: WWW.ACCESSITY.COM ACCESSITY CORP. REPORTS FIRST QUARTER RESULTS --------------------------------------------- Coral Springs, FL, May 16, 2003....ACCESSITY CORP. [NASDAQ SMALLCAP: ACTY] reported today that it had a net losS from continuing operations of $493,000, or $.05 per basic and diluted share, for the quarter ended March 31, 2003. In the comparable quarter of 2002, the Company recorded a net loss from continuing operations of $519,000 (the 2002 figure excludes the $3.1 million gain from the sale of its fleet services business). On a pretax basis, the loss of $493,000 was the same as the net loss, due to tax considerations in the 2003 quarter; this compares favorably with the pre-tax loss of $864,000 from continuing operations in the year-earlier quarter. Revenues of $376,000 for the quarter were down from $833,000 in the comparable quarter of 2002 resulting primarily from the transfer of operating responsibility for its Internet-based claims management business with auto insurers to ClaimsNet, effective January 2003. In future quarters, the Company will report only royalty payments from this business, with no offsetting costs. Revenue from the Company's Affinity Services business declined by $120,000 to $235,000, compared with $355,000 in the 2002 quarter, reflecting non-renewal of memberships by participants in the automotive discounts and services programs the Company offers through financial institutions and membership organizations. Accessity has not yet recorded revenues from its newest business, Sentaur, which provides medical billing and subrogation services to hospitals underpaid by insurers and preferred provider organizations for services rendered to insured patients. However, Sentaur has commenced billings and expects to record revenues in the next quarter. Selling and general & administrative expenses declined in the 2003 quarter an aggregate amount of $356,000 compared to the 2002 quarter. "We are continuing our active exploration of a range of acquisition, merger and new-business opportunities as a part of our plan to diversify the Company," commented Barry Siegel, Chairman and CEO. "Meanwhile, we have pared down our expenses dramatically and that effort, which is continuing, will leverage our earnings when we start receiving revenues from Sentaur, royalties from ClaimsNet, and couple this with any acquisition we make. The Company remains free of debt, and we have nearly $5.4 million in cash and liquid investments available for any acquisition, merger or new business," Siegel said. This announcement contains "forward looking statements." Words "anticipate," "believe," "estimate," "expect" and other similar expressions as they relate to the Company and its management are intended to identify such forward looking statements. Although the Company and its management believe that the statements contained in this announcement are reasonable, it can give no assurances that such statements will prove correct. Factors that could affect the occurrence of events or results discussed herein are included with those mentioned in the Company's filings with the Securities and Exchange Commission. ###### -----END PRIVACY-ENHANCED MESSAGE-----