8-K 1 k8052901.htm UNITED STATES

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: May 29, 2001

 

CHYRON CORPORATION

(Exact Name of Registrant as Specified in Charter)

 

New York

1-9014

11-2117385

(State or Other Jurisdiction

of Incorporation)

(Commission File Number)

(I.R.S. Employer

Identification No.)

 

5 Hub Drive

 

Melville, New York

11747

(Address of Principal Executive Offices)

(Zip Code)

 

Registrant's telephone number, including area code: (631) 845-2000

________________

 

 

 

Item 5. Other Events and Exhibits

In July 1999, the New York Stock Exchange (NYSE) revised the minimum requirements for continued listing by eliminating the net tangible asset requirement of $12 million and replacing it with a stockholders' equity of $50 million and raising global market capitalization to $50 million from $12 million. The Company was allotted 18 months to comply with the revised listing requirements. In April 2001, the Company received notification that its stock should be removed from the NYSE list as it was not in compliance with the revised continued listing requirements. The Company requested a review with a committee of the board of directors of the NYSE to appeal the decision, which was scheduled for June 6, 2001. In May 2001, the Company voluntarily withdrew its appeal of the NYSE's decision due to the considerable amount of resources it would cost to appeal the decision. The Company believes it is in the best interest of its shareholders to focus its efforts on executing its business plan and improving the operating performance of the Company.

The Company began trading its common stock on the OTC Bulletin Board on May 25, 2001, under the symbol CYRO. The OTC Bulletin Board (OTCBB) is a regulated quotation service that displays real-time quotes, last sales prices and volume information in over-the-counter (OTC) equity securities. Information about the OTCBB is available on the Internet at: www.otcbb.com.

 

 

 

 

 

 

 

 

 

 

 

SIGNATURES

 

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.

 

CHYRON CORPORATION

 

 

By:

/s/ Dawn R. Johnston

 

Name:

Dawn R. Johnston

 

Title:

Senior Vice President and

Chief Financial Officer

 

Date: May 29, 2001