-----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, CWEflEM6MYN6jGvkkvsYQOWuyyYwGY51YzgNMEcX7CWMLDFGeU9b0+jeluJ4w/d/ HjH7metBV/YT2NzicMhW6w== 0001104659-10-033271.txt : 20100610 0001104659-10-033271.hdr.sgml : 20100610 20100610123343 ACCESSION NUMBER: 0001104659-10-033271 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20100608 ITEM INFORMATION: Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing FILED AS OF DATE: 20100610 DATE AS OF CHANGE: 20100610 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CALIFORNIA COASTAL COMMUNITIES INC CENTRAL INDEX KEY: 0000840216 STANDARD INDUSTRIAL CLASSIFICATION: OPERATIVE BUILDERS [1531] IRS NUMBER: 020426634 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-17189 FILM NUMBER: 10889603 BUSINESS ADDRESS: STREET 1: 6 EXECUTIVE CIRCLE STREET 2: SUITE 250 CITY: IRVIN STATE: CA ZIP: 92614 BUSINESS PHONE: 9492507700 MAIL ADDRESS: STREET 1: 6 EXECUTIVE CIRCLE STREET 2: SUITE 250 CITY: IRVIN STATE: CA ZIP: 92614 FORMER COMPANY: FORMER CONFORMED NAME: KOLL REAL ESTATE GROUP INC DATE OF NAME CHANGE: 19931006 FORMER COMPANY: FORMER CONFORMED NAME: BOLSA CHICA CO/ DATE OF NAME CHANGE: 19921229 FORMER COMPANY: FORMER CONFORMED NAME: HENLEY PROPERTIES INC DATE OF NAME CHANGE: 19920727 8-K 1 a10-11750_18k.htm 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): June 8, 2010

 

California Coastal Communities, Inc.

(Exact name of registrant as specified in its charter)

 

Delaware

0-17189

02-0426634

(State or other
jurisdiction
of incorporation)

(Commission
File Number)

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

 

6 Executive Circle, Suite 250, Irvine, California

 

92614

(Address of principal executive offices)

 

(Zip Code)

 

Registrant’s telephone number, including area code (949) 250-7700

 

Not Applicable

(Former name or former address, if changed since last report.)

 

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:

 

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

 

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

 

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

 

o            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.

 

Official Delisting of Securities of California Coastal Communities Inc. from NASDAQ Stock Market

 

On June 8, 2010, the NASDAQ Stock Market announced that the Registrant’s common stock, which was suspended from trading on April 27, 2010 and has not traded on NASDAQ since then, will be officially delisted ten (10) days after NASDAQ files a Form 25 with the Securities and Exchange Commission.  On June 9, 2010, NASDAQ filed the Form 25 with the Securities and Exchange Commission indicating that the Registrant’s common stock will be delisted on June 21, 2010.

 

The NASDAQ delisting decision was discretionary and based solely on the Registrant’s inability to emerge from its voluntary Chapter 11 bankruptcy proceedings by April 26, 2010.  The Registrant commenced the Chapter 11 proceedings on October 27, 2009 in order to extend the maturity dates and change the repayment schedules for its approximately $182 million of Brightwater credit facilities debt in order to be able to repay the debt in full by June 30, 2014 based on currently expected home sales during the next four years.  The bankruptcy court has scheduled a valuation hearing for July 15, 2010 and a plan confirmation hearing for July 28, 2010.

 

As previously disclosed, the Registrant has been working with NASDAQ staff to be relisted on the Nasdaq Stock Market after emerging from the Chapter 11 process; however, given that the trading, volume and liquidity of the Registrant’s common stock does not appear to have been impaired since it commenced trading over-the-counter in the OTCQB marketplace, the Company is also considering whether to remain on the OTCQB after it emerges from Chapter 11.

 

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.

 

Date: June 10, 2010

California Coastal Communities, Inc.

 

 

 

 

By:

/s/ RAYMOND J. PACINI

 

 

Raymond J. Pacini

 

 

Chief Executive Officer

 

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