-----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, RRe6uQdMRf7rsyytply+hZUkZMqMEGLqnlDJLza/lbEHO0j4lfiQ1owO/+n4SKZx m9H1lrkdNp2/YeFlrpYb9g== 0000083125-03-000017.txt : 20030825 0000083125-03-000017.hdr.sgml : 20030825 20030822173709 ACCESSION NUMBER: 0000083125-03-000017 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20030822 ITEM INFORMATION: Regulation FD Disclosure FILED AS OF DATE: 20030825 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: 03863212 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 august.txt FORM 8-K DATED AUGUST 22, 2003 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) August 22, 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 August 21, 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 August 21, 2003, First Montauk Financial Corp. (the "Registrant") issued a press release announcing results for the fiscal quarter ended June 30, 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: August 22, 2003 First Montauk Financial Corp. (Registrant) /s/ William J. Kurinsky By --------------------------- William J. Kurinsky Chief Financial Officer Exhibit 99.1 FIRST MONTAUK ANNOUNCES SECOND QUARTER AND SIX MONTH RESULTS FOR 2003 Revenues for the Second Quarter Up 23% Red Bank, NJ - August 21, 2003 - First Montauk Financial Corp. (OTC/BB: FMFK), a nationwide provider of investment services through independent financial professionals, today announced financial results for the second quarter and six months ended June 30, 2003. Revenues for the second quarter of 2003 rose 23% to $15.9 million, compared to $12.9 million for the second quarter of 2002. The Company reported a net loss applicable to common stockholders of $1.3 million, or ($.15) per basic and diluted share for the second quarter. This compares to a net loss of $998,000, or ($.12) per basic and diluted share for the second quarter of 2002. The Company's revenues for the first half of 2003 also increased, rising to $26.9 million compared to $25.6 million for the same six month period in 2002. The Company reported a net loss applicable to common stockholders of $1.7 million, or ($.20) per basic and diluted share during the first six months of 2003. This compares to a net loss of $1.3 million, or ($.15) per basic and diluted share for the same period in 2002. Herb Kurinsky, President and CEO of Montauk Financial Group, commented, "We are pleased to report a substantial increase in revenues for the second quarter and the first half of 2003. The continued lower interest rate environment, combined with the end to the major conflict in Iraq, positively affected investor confidence, and aided in their decision to once again return to investing in the equity markets." "The losses that the Company suffered are once again disappointing, however they are primarily a result of the settlement of various legal claims. With the resolution of these matters, we can now focus our continuing efforts on recruiting independent financial professionals and improving overall business operations and profitability." 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, web-based information systems and a competitive commission payout structure has attracted approximately 475 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 second quarter ended June 30, 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) Six months Three months Ended June 30, Ended June 30, 2003 2002 2003 2002 (unaudited) (unaudited) (unaudited) (unaudited) Revenues $26,858 $25,625 $15,902 $12,877 Expenses 28,581 26,894 17,153 13,850 Net loss $(1,723) $(1,269) $(1,251) $(973) Net loss applicable to common $(1,748) $(1,318) $(1,251) $(998) stockholders Per share of common stock: $ (0.20) $(0.15) $(0.15) $(0.12) basic and diluted Number of common shares used 8,527,164 8,579,173 8,527,164 8,534,075 in basic and diluted loss per share Contacts: Montauk Financial Group Montauk Financial Group William J. Kurinsky Katy Paul EVP, CFO Shareholder Relations 732-842-4700, ext. 4227 732-842-4700, ext. 4220 info@montaukfinancial.com
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