-----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, Khq3S0an+3n/1ETzYFeHPQSouyj0vKHUfR5Da6E/+WEpqqJdDPxGiuIeNhNYJZai G2D4SMqygqOQcGXYLI5UnA== 0000731245-10-000002.txt : 20100322 0000731245-10-000002.hdr.sgml : 20100322 20100322131344 ACCESSION NUMBER: 0000731245-10-000002 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20100318 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20100322 DATE AS OF CHANGE: 20100322 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PRESIDENTIAL REALTY CORP/DE/ CENTRAL INDEX KEY: 0000731245 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE INVESTMENT TRUSTS [6798] IRS NUMBER: 131954619 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-08594 FILM NUMBER: 10696122 BUSINESS ADDRESS: STREET 1: 180 S BROADWAY CITY: WHITE PLAINS STATE: NY ZIP: 10605 BUSINESS PHONE: 9149481300 MAIL ADDRESS: STREET 1: 180 SOUTH BROADWAY CITY: WHITE PLAINS STATE: NY ZIP: 10605 8-K 1 form8-k32210.txt PRESIDENTIAL REALTY CORP. 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) MARCH 18, 2010 --------------------- Presidential Realty Corporation - --------------------------------------------------------------------- (Exact name of registrant as specified in its charter) DELAWARE 1-8594 13-1954619 - ---------------------------- ------------ ------------ (State or other jurisdiction (Commission (I.R.S. Employer of incorporation) File Number) Identification Number) 180 South Broadway, White Plains, New York 10605 - ------------------------------------------- ------ (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code (914) 948-1300 -------------- No change since last Report - ------------------------------------------------------------- (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: [ ] Written communications pursuant to Rule 425 under the Securities Act (17CFR230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17CFR240.14a-12) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17CFR240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17CFR240.13e-4(c)) Item 8.01. Other Events. ------------ On March 18, 2010, Presidential Realty Corporation (the "Company") received a notice from the NYSE Amex LLC (the "Exchange") indicating that the Company has resolved the continued listing deficiencies with respect to its Class B common stock, and is currently in compliance with all continued listing standards of the Exchange. On May 13, 2009, the Company received a notice from the Exchange indicating that the Company was below certain of the Exchange's continued listing standards due to (1) having stockholders' equity of less than $4,000,000 and losses from continuing operations and net losses in its three of its four most recent fiscal years as set forth in Section 1003(a)(iii) of the Exchange's Company Guide and (2) the Company's Class A common stock having an aggregate market value of shares publicly held of less than $1,000,000 for more than 90 consecutive days as set forth in Section 1003(b)(i)(C) of the Exchange's Company Guide. In response to the latter deficiency, the Company voluntarily delisted its Class A common stock from the Exchange. The notice dated March 18, 2010 indicates that based upon a review of publicly available information, including the Company's Forms 10-Q for the periods ended June 30 and September 30, 2009, the Exchange staff concluded that the Company has regained compliance with all continued listing standards of the Exchange and the matter is now closed. A copy of the Company's press release announcing this information is attached to this report as Exhibit 99.1 and is incorporated herein by reference. ITEM 9.01 Financial Statements and Exhibits. (d) Exhibits The following exhibits are filed herewith: Exhibit Description ------- ----------------------------------------------- 99.1 Press release, dated March 22, 2010, announcing receipt of Notice from the NYSE Amex regarding regaining compliance with Continued Listing Standards. SIGNATURES 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: March 22, 2010 PRESIDENTIAL REALTY CORPORATION By: /s/ Jeffrey F. Joseph ------------------------- Jeffrey F. Joseph President EXHIBIT INDEX Exhibit Description - ------- ----------------------------------------------------- 99.1 Press release, dated March 22, 2010, announcing receipt of Notice from the NYSE Amex regarding regaining compliance with Continued Listing Standards. EX-99 2 exhibit99-132210.txt EXHIBIT 99.1 PRESS RELEASE Presidential Realty Corporation Exhibit 99.1 180 South Broadway White Plains, N.Y. 10605 (914) 948-1300 NEWS - ------------------------------------------------------------------------------- FOR IMMEDIATE RELEASE White Plains, New York March 22, 2010 PRESIDENTIAL REALTY REGAINS COMPLIANCE WITH NYSE AMEX LISTING STANDARDS Presidential Realty Corporation, a real estate investment trust whose Class B common stock is traded on the NYSE AMEX LLC (PDLB), today announced that it had received a notice from the NYSE Amex LLC (the "Exchange"), indicating that the Company has resolved its continued listing deficiencies with respect to its Class B common stock, and is currently in compliance with all continued listing standards of the Exchange. About Presidential Realty Presidential Realty Corporation, a real estate investment trust, is engaged principally in the ownership of income-producing real estate and in the holding of notes and mortgages secured by real estate or interests in real estate. Certain statements in this release that are not historical fact may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and beliefs and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: o continuing generally adverse economic and business conditions, which, among other things, (a) affect the demand for residential, retail, industrial and office space at properties owned by the Company or which are security for loans made by the Company, (b) affect the availability and creditworthiness of prospective tenants and the rental rates obtainable at the properties, and (c) affect consumer demand for the products offered by the tenants at the malls owned by the joint venture in which the Company is a member, which adversely affects the operating results and valuations of such malls; o continuing adverse changes in the real estate markets, including a severe tightening of the availability of credit, which adversely affect the ability of the Company or the joint ventures in which the Company is a member to sell, or refinance the mortgages on, their properties and which may also affect the ability of prospective tenants to rent space at these properties; o general risks of real estate development, ownership and operation; o governmental actions and initiatives; o environmental and safety requirements; and o failure to comply with continuing listing standards of the NYSE AMEX. Additional factors that could cause Presidential's results to differ materially from those described in the forward-looking statements can be found in the Company's 2008 Annual Report on Form 10-K and subsequent quarterly reports on Form 10-Q. Except as required by law, the Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any changes in the Company's expectations with regard thereto or change in events, conditions or circumstances on which any such statement is based. For further information contact: - -------------------------------- Jeffrey F. Joseph, President Presidential Realty Corporation at the above address and telephone number -----END PRIVACY-ENHANCED MESSAGE-----