-----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, V3imMAMtOtyxjTGB527GNg4Qd37IxkgezISzld79YrQvQ00pLbBFNXlpgf3OQdN/ C9kMnVp6tXJFnW4k8ZZc9Q== 0000083125-08-000001.txt : 20080402 0000083125-08-000001.hdr.sgml : 20080402 20080402152010 ACCESSION NUMBER: 0000083125-08-000001 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20080401 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20080402 DATE AS OF CHANGE: 20080402 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: 001-33656 FILM NUMBER: 08733194 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 form8kapril.txt FORM 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 (DATE OF EARLIEST EVENT REPORTED): April 1, 2008 FIRST MONTAUK FINANCIAL CORP. (Exact name of registrant as specified in its charter) COMMISSION FILE NUMBER: 0-6729 NEW JERSEY 22-1737915 ---------- ---------- (State or other jurisdiction (I.R.S. Employer of incorporation or organization) Identification No.) Parkway 109 Office Center 328 Newman Springs Road Red Bank, NJ 07701 (Address and zip code of principal executive offices) (732) 842-4700 (Registrant's telephone number, including area code 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 2.02 RESULTS OF OPERATIONS AND FINANCIAL CONDITION On April 1, 2008, First Montauk Financial Corp. (the "Registrant") issued a press release announcing results for the fiscal year ended December 31, 2007. 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. Item 9.01 FINANCIAL STATEMENTS AND EXHIBITS Exhibit Press Release of First Montauk Financial Corp. dated 99.1 April 1, 2008. 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. FIRST MONTAUK FINANCIAL CORP. By: /s/ Victor K. Kurylak -------------------------------- Name: Victor K. Kurylak Title: President and Chief Executive Officer Date: April 2, 2008 2 EXHIBIT INDEX Exhibit Description Number 99.1 Press Release dated April 1, 2008 3 EX-99 2 extoapril8k.txt EXHIBIT NO. 99.1 Exhibit No. 99.1 FIRST MONTAUK FINANCIAL CORP. ANNOUNCES FINANCIAL RESULTS FOR 2007 Red Bank, NJ - April 1, 2008 - First Montauk Financial Corp. (OTC/BB: FMFK), a nationwide provider of investment services through independent financial professionals, today announced its financial results for the year ended December 31, 2007. Revenues for the year ended December 31, 2007 decreased $11.4 million, or 22%, to $39.5 million from $50.9 million for the year ended December 31, 2006. The decrease in revenues is primarily attributable to a decline in the number of producing registered representatives which are affiliated with the Company. The Company reported a net loss applicable to common stockholders of $2.2 million, or ($0.14) per basic and diluted share compared to a net loss applicable to common stockholders for 2006 of $1.0 million, or ($0.06) per basic and diluted share. Commenting on the results, Victor K. Kurylak, the Company's President and CEO stated, "We continue to have complete confidence in our many outstanding affiliates and financial professionals who service over 45,000 retail and institutional accounts with over $3 billion in total customer assets. This past year presented many challenges to Montauk Financial, but most importantly brought closure to a number of issues that have hindered the growth and operations of the company over the last several years. We have made significant strides in our cost reduction efforts and negotiated a financing arrangement to bring new capital into the firm. We remain focused on the growth of our business through enhanced support of our financial professionals and the addition of new relationships." 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. The Company's ability to offer quality support services, research, web-based information systems and a competitive commission payout structure has attracted 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-K for the year ended December 31,2007 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 CONSOLIDATED STATEMENTS OF OPERATIONS In 000's (except per share amounts) Years ended December 31, 2007 2006 ---- ---- Revenues $ 39,556 $ 50,960 Expenses 41,625 51,770 ------ ------ Net loss before income taxes (2,069) (810) Income taxes 16 27 -- -- Net loss $ (2,085) $ (837) =========== =========== Net loss applicable to common stockholders $ (2,209) $ (1,005) =========== ========== Loss per share: Basic $ (0.14) $ (0.06) ======== ========== Diluted $ (0.14) $ (0.06) ======== ========== Weighted average number of shares of stock outstanding Basic 15,635,136 17,004,254 Diluted 15,635,136 17,004,254 CONTACT: Victor K. Kurylak President, CEO 732-842-4700, ext. 4230 info@montaukfinancial.com www.montaukfinancial.com -----END PRIVACY-ENHANCED MESSAGE-----