-----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, VjHgrkGzcnegH7nBnYcMArEoutN8SJelEZRtg7YYg3i6iXQQZRiDy49GH+GV18Yi sTA6eQl60Ln6s/q67nqlMg== 0000083125-03-000011.txt : 20030520 0000083125-03-000011.hdr.sgml : 20030520 20030520161429 ACCESSION NUMBER: 0000083125-03-000011 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20030519 ITEM INFORMATION: Regulation FD Disclosure FILED AS OF DATE: 20030520 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FIRST MONTAUK FINANCIAL CORP CENTRAL INDEX KEY: 0000083125 STANDARD INDUSTRIAL CLASSIFICATION: SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211] IRS NUMBER: 221737915 STATE OF INCORPORATION: NJ FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-06729 FILM NUMBER: 03712691 BUSINESS ADDRESS: STREET 1: 328 NEWMAN SPRINGS RD STREET 2: PKWY 109 OFFICE CTR CITY: RED BANK STATE: NJ ZIP: 07701 BUSINESS PHONE: 7328424700 MAIL ADDRESS: STREET 1: 328 NEWMAN SPRINGS RD STREET 2: PKWY 109 OFFICE CTR CITY: RED BANK STATE: NJ ZIP: 07701 FORMER COMPANY: FORMER CONFORMED NAME: MCC PRESIDENTIAL INC DATE OF NAME CHANGE: 19871203 FORMER COMPANY: FORMER CONFORMED NAME: RENAULT WINERY INC DATE OF NAME CHANGE: 19740725 FORMER COMPANY: FORMER CONFORMED NAME: PRESIDENTIAL APARTMENTS INC DATE OF NAME CHANGE: 19740327 8-K 1 may2003.txt FORM 8-K CURRENT REPORT 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 19, 2003 -------------------------------- FIRST MONTAUK FINANCIAL CORP. - -------------------------------------------------------------------------------- (Exact name of Registrant as specified in charter) New Jersey 0-6729 22-1737915 - -------------------------------------------------------------------------------- (State or other jurisdic- (Commission (IRS Employer tion of incorporation) File Number) Identification No.) Parkway 109 Office Center, 328 Newman Springs Road, Red Bank, N.J. 07701 - -------------------------------------------------------------------------------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code (732) 842-4700 - -------------------------------------------------------------------------------- (Former name or former address, if changed since last report.) Item 7: Financial Statements and Exhibits. (c) Exhibits The following exhibit is filed herewith: Exhibit No. Description - ----------- ----------- 99.1 Press release issued by First Montauk Financial Corp. dated May 19, 2003. Item 9: Regulation FD Disclosure (Information Provided Under Item 12 - Results of Operations and Financial Condition). This information, furnished under this "Item 9. Regulation FD Disclosure," is intended to be furnished under "Item 12. Disclosure of Results of Operations and Financial Condition" in accordance with SEC Release No. 33-8216. On May 19, 2003, First Montauk Financial Corp. (the "Registrant") issued a press release announcing results for the fiscal quarter ended March 31, 2003. A copy of the press release is attached as exhibit 99.1. The information in this report shall not be deemed to be "filed" for purposes of Section 18 of, or otherwise regarded as filed under, the Securities Exchange Act of 1934, as amended. Unless expressly incorporated into a filing of the Registrant under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, made after the date hereof, the information contained herein shall not be incorporated by reference into any filing of the Registrant, whether made before or after the date hereof, regardless of any general incorporation language in such filing. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report on Form 8-K to be signed on its behalf by the undersigned hereunto duly authorized. Dated: May 20, 2003 First Montauk Financial Corp. (Registrant) By /s/ William J. Kurinsky --------------------------------- William J. Kurinsky Chief Financial Officer Exhibit 99.1 FIRST MONTAUK FINANCIAL CORP. [Letterhead] FOR IMMEDIATE RELEASE FIRST MONTAUK ANNOUNCES FIRST QUARTER RESULTS FOR FISCAL 2003 Red Bank, NJ - May 19, 2003 - First Montauk Financial Corp. (OTC/BB: FMFK), a nationwide provider of investment services through independent financial professionals, today announced financial results for the first quarter ended March 31, 2003. Revenues for the first quarter decreased to $10.9 million, compared to $12.7 million for the same period in 2002. The Company reported a net loss applicable to common stockholders of $496,000, or ($.06) per basic and diluted share for the 2003 three-month period compared to a net loss applicable to common stockholders of $296,000, or ($.04) per basic and diluted share for the first quarter of fiscal 2002. Herb Kurinsky, President and CEO of Montauk Financial Group, commented, "The weakness we saw in fiscal 2002 has continued into the first quarter of 2003. Ongoing lack of investor confidence, economic weakness and uncertainty in the geopolitical situation have all combined to negatively impact revenues." "Management has taken a number of steps to reduce overhead in an effort to return the Company to profitability. Meanwhile, our recruiting efforts are ongoing and we continue to attract financial professionals seeking independence, positioning us to benefit from a turnaround in the financial markets." Kurinsky added. Montauk Financial Group is a service mark of First Montauk Securities Corp., Member NASD/SIPC. First Montauk Financial Corp. is the parent company of First Montauk Securities Corp., a registered securities broker/dealer headquartered in Red Bank, NJ, with approximately 60,000 retail and institutional accounts. The Company's ability to offer quality support services, research advanced networked information systems and a competitive commission payout structure has attracted approximately 500 independent, professional registered representatives across the country. Additional information is available at the Company's website at www.montaukfinancial.com. Statements contained in this news release regarding expected financial results of the Company and First Montauk Securities Corp., are forward-looking statements, subject to uncertainties and risks, many of which are beyond the Company's control, including, but not limited to, market conditions, interest rate and currency fluctuations, dependence on key personnel, each of which may be impacted, among other things, by economic, competitive or regulatory conditions. These and other applicable risks are summarized under the caption "Factors Affecting Forward Looking Statements" in the Company's Form 10-Q for the first quarter ended March 31, 2003 as filed with the Securities and Exchange Commission. Forward-looking statements by their nature involve substantial risks and uncertainties. As a result, actual results may differ materially depending on many factors, including those described above. The Company cautions that historical results are not necessarily indicative of the Company's future performance. FIRST MONTAUK FINANCIAL CORP. AND SUBSIDIARIES SELECTED FINANCIAL DATA In 000's (except for per share amounts) Three months Ended March 31, 2003 2002 ----- ---- (unaudited) (unaudited) Revenues $10,956 $12,748 ------ ------ Expenses 11,427 13,044 ------ ------ Net loss $ (471) $(296) ===== ==== Net loss applicable to common stockholders $ (496) $(321) ===== ==== Per share of common stock: Basic and diluted (0.06) (0.04) ===== ==== Number of common shares used in basic and diluted loss per share 8,527,164 8,622,284 ========= ========= Contact: Katy Paul Montauk Financial Group Shareholder Relations William J. Kurinsky, CFO 732-842-4700, ext. 4220 (800) 876-3672, ext. 4227 info@montaukfinancial.com -----END PRIVACY-ENHANCED MESSAGE-----