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)  November 2, 2007

PubliCARD, Inc.

(Exact Name of Registrant as Specified in Its Charter)

Pennsylvania	001-03315	23-0991870
(State or Other Jurisdiction  of Incorporation)	(Commission File Number)	(I.R.S.  Employer Identification No.)

Seventy Five Rockefeller Plaza, 16th Floor, New York, NY	10019
(Address of Principal Executive Offices)	(Zip Code)

 Registrant's telephone number, including area code  (212) 265-7013 

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 (see General Instruction A.2. below):

oWritten communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

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

oPre-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 7.01 REGULATION FD DISCLOSURE

Operating Report

On October 25, 2007, PubliCARD, Inc. (“PubliCARD”, the “Debtor” or the “Company”) filed its unaudited Monthly Operating Report for the month ended September 30, 2007 (the “Monthly Operating Report”) with the United States Bankruptcy Court for the Southern District of New York (the “Court”) (In re PubliCARD, Inc., Case No. 07-11517). Exhibits 99.1 to this Current Report on Form 8-K contain the unaudited Monthly Operating Reports as filed with the Court.

The Monthly Operating Report is limited in scope, covers a limited time period, and has been prepared solely for the purpose of complying with the monthly reporting requirements of the Court. The Company’s subsidiaries have not filed for bankruptcy protection, and financial information regarding such subsidiaries is not part of the consolidated group included in the Monthly Operating Report. The financial information in the Monthly Operating Report is preliminary and unaudited and does not purport to show the financial statements of the Debtor in accordance with accounting principles generally accepted in the United States of America (“GAAP”), and therefore may exclude items required by GAAP, such as certain reclassifications, eliminations, accruals, and disclosure items. The Company cautions readers not to place undue reliance upon the Monthly Operating Report. There can be no assurance that such information is complete. The Monthly Operating Report may be subject to revision. The Monthly Operating Report is in a format required by the U.S. Bankruptcy Code (“Bankruptcy Code”) and should not be used for investment purposes. The information in the Monthly Operating Report should not be viewed as indicative of future results.

Limitation on Incorporation by Reference

The Monthly Operating Report is being furnished for informational purposes only and is not deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended. Registration statements or other documents filed with the U.S. Securities and Exchange Commission (“SEC”) shall not incorporate the Monthly Operating Report or any other information set forth in this Current Report on Form 8-K by reference, except as otherwise expressly stated in such filing. This Current Report on Form 8-K will not be deemed an admission as to the materiality of any information in the report that is required to be disclosed solely by Regulation FD.

FORWARD-LOOKING STATEMENTS

This Current Report on Form 8-K, including the exhibits being filed as part of this report, as well as other statements made by PubliCARD may contain forward-looking statements that reflect, when made, the Company’s current views with respect to current events and financial performance. Such forward-looking statements are and will be, as the case may be, subject to many risks, uncertainties and factors relating to the Company’s operations and business environment which may cause the actual results of the Company to be materially different from any future results, express or implied, by such forward-looking statements. In some cases, you can identify these statements by forward-looking words such as “may,” “might,” “will,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “potential” or “continue,” the negative of these terms and other comparable terminology. Factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to, the following: the ability of the Company to continue as a going concern; the terms of any reorganization plan ultimately confirmed; the Company’s ability to obtain Court approval with respect to motions in the chapter 11 cases prosecuted by it from time to time; the ability of the Company to develop, prosecute, confirm and consummate one or more plans of reorganization with respect to the chapter 11 case; risks associated with third parties seeking and obtaining Court approval to terminate or shorten the exclusivity period for the Company to propose and confirm one or more plans of reorganization, for the appointment of a chapter 11 trustee or to convert the case into a chapter 7 case; the ability of the Company to obtain and maintain normal terms with vendors and service providers; the Company’s ability to maintain contracts that are critical to its operations; the potential adverse impact of the chapter 11 case on the Company’s liquidity or results of operations; the ability of the Company to fund and execute a business plan and to do so in a timely manner and the ability of the Company to attract, motivate and/or retain key executives and associates. Additional factors that could affect future results are identified in the Annual Report on Form 10-K for the year ended December 31, 2006 filed with the SEC. 

PubliCARD disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events and/or otherwise. Similarly, these and other factors, including the terms of any reorganization plan ultimately confirmed, can affect the value of the Company’s various prepetition liabilities, common stock and/or other equity securities. A plan of reorganization could result in holders of PubliCARD’s common stock receiving no distribution on account of their interest and cancellation of their interests. In addition, under certain conditions specified in the Bankruptcy Code, a plan of reorganization may be confirmed notwithstanding its rejection by an impaired class of creditors or equity holders and notwithstanding the fact that equity holders do not receive or retain property on account of their equity interests under the plan. In light of the foregoing, the Company considers the value of the common stock to be highly speculative and cautions equity holders that the stock may ultimately be determined to have no value. Accordingly, the Company urges that appropriate caution be exercised with respect to existing and future investments in PubliCARD’s common stock or other equity interests or any claims relating to prepetition liabilities.

Item 9.01.  Financial Statements and Exhibits.

(a)Not applicable

(b)Not applicable

(c) Exhibits

99.1   PubliCARD Inc.’s Monthly Operating Report for the Month Ended September 30, 2007.

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.

	PubliCARD, Inc.
	Registrant
Date: November 2, 2007	/s/ Joseph E. Sarachek
	Joseph E. Sarachek, President,
	Chief Executive Officer

EXHIBIT INDEX

Exhibit Number	Description
99.1	PubliCARD Inc.’s Monthly Operating Report for the Month Ended September 30, 2007.

EX-99.1

Exh 99.1

Law Offices of David C. McGrail
676A Ninth Avenue #211
New York, NY 10036
Tel: (646) 290-6496
Fax: (646) 224-8377
David C. McGrail (DM 3904)
Counsel To PubliCARD, Inc.
UNITED STATES BANKRUPTCY COURT
SOUTHERN DISTRICT OF NEW YORK
----------------------------------------------------------------------------					:
					:	Chapter 11
In re:	PUBLICARD, INC.,				:	Case No. 07-11517 (RDD)
					:
		Debtor			:
					:
					:
----------------------------------------------------------------------------					:
MONTHLY CONSOLIDATED STATEMENT
FOR THE PERIOD ENDED
				September 30, 2007
MONTHLY RECEIPTS:				$ 89
MONTHLY DISBURSEMENTS:				$ 13,636
THIS OPERATING STATEMENT MUST BE SIGNED BY A REPRESENTATIVE OF THE DEBTOR
The undersigned, having reviewed the attached report and being familiar with the debtor's financial
affairs, verifies under penalty of perjury, that the information contained therein is complete, accurate and
truthful to the best of my knowledge.
DATE:	30-Oct-07		By:	/s/ Marc B. Ross
			Title:	Principal Financial Officer
Indicate if this is an amended statement by checking here

1

PubliCARD, Inc.
(Debtor-In-Possession)
Statement Of Operations
For the Period Ending September 30, 2007
Accrual Basis
			Current Month Ended September 30, 2007			Case-To-Date through September 30, 2007
Revenue		$	-		$	-
Operating Expenses
Direct Cost Of Revenue			-			-
Selling, General and Administrative			39,109			186,041
Depreciation Of Fixed Assets			96			480
Total Operating Expenses			39,205			186,521
Operating Gain/(Loss)			(39,205	)		(186,521	)
Other Expense/(Income)
Interest Expense			-			-
Loss/(Gain) On The Sale Of Assets			-			-
Interest Income			(89	)		(713	)
Income/(Loss) Before Reorganizational Items and Taxes			(39,116	)		(185,808	)
US Trustee Fees - Q3 2007			250			1,000
Reorganization Professional Fees (Estimated and Accrued)	(1)		6,000			24,240
			6,250			25,240
Gain/(Loss) Before Income Taxes			(45,366	)		(211,048	)
Provision For Income Taxes			-			-
Net Income/(Loss)			(45,366	)		(211,048	)
Deficit Beginning of Period			(113,779,012	)		(113,613,330	)
Deficit End Of Period		$	(113,824,378	)	$	(113,824,378	)
			-			-
(1)Includes estimated and accrued fees for debtor professionals.

2

PubliCARD, Inc. (Debtor-In-Possession) Balance Sheet As of September 30, 2007
		September 30, 2007 Balance Sheet			August 31, 2007			May 17, 2007 Balance Sheet
Current Assets
Cash	$	45,384		$	58,156		$	39,723
Restricted Cash		-			-			-
Due From Related Parties		-			-			-
Accounts Receivable-Net		(268	)		(268	)		13,364
Inventory Net		-			-			-
Prepaid Rent		-			-			-
Prepaid Insurance		13,048			20,837			43,272
Prepaid Professional		-			-			-
Prepaid Expenses		19,200			19,200			19,200
Total Current Assets		77,364			97,925			115,559
Property, Plant, & Equipment - Gross		14,404			14,404			14,404
Accumulated Depreciation		(10,566	)		(10,470	)		(10,088	)
Property, Plant, & Equipment - Net		3,838			3,934			4,316
Intangibles - Gross		-			-			-
Accumulated Amortization		-			-			-
Intangibles - Net		-			-			-
Organizational Costs		-			-			-
Other - Non-Current		-			-			-
Total Assets	$	81,202		$	101,859		$	119,875
Post-Petition Liabilities
Cash Overdrafts	$	-		$	-		$	-
Accounts Payable		13,398			5,896			-
Accrued Payroll/Commission		8,292			4,585			-
Accrued Consulting		30,000			22,500			-
Due to Affiliates		71,915			71,915			-
Other Current Liabilities/Accrued Professional Fees		24,240			18,240			-
Total Post Petition Current Liabilities		147,845			123,136			-
Pre-Petition Liabilities
Cash Overdrafts		-			-			-
Accounts Payable		294,021			294,021			269,491
Deferred Revenues		-			-			-
Accrued Payroll/Commission		-			-			-
Obligations For Capital Leases Current		-			-			-
Other Current Liabilities		19,800			19,800			19,800
Total Pre- Petition Current Liabilities		313,821			313,821			289,291
Interest Payable		-			-			-
Other Long Term Liabilities		-			-			-
		-			-			-
Total Liabilities		461,666			436,957			289,291
Stockholders Deficit
Class A Preferred Stock Second Series, no par value:1,000 shares authorized		2,325,000			2,325,000			2,325,000
465 shares issued and outstanding
Common shares, $0.10 par value: 40,000,000 shares authorized; 24,940,902		2,494,090			2,494,090			2,494,090
shares outstanding
Additional paid-in capital		108,624,824			108,624,824			108,624,824
Accumulated deficit		(113,824,378	)		(113,779,012	)		(113,613,330	)
Total Stockholders’ Deficit		(380,464	)		(335,098	)		(169,416	)
Total Liabilities and Stockholder Equity	$	81,202		$	101,859		$	119,875

3

PubliCARD, Inc. (Debtor-In-Possession) Statement Of Cash Flow For the Period Ending September 30, 2007		Current Month September 30, 2007			Case-To-Date September 30, 2007
Net Income/(Loss)	$	(45,366	)	$	(211,048	)
(Less)/Add: Depreciation		96			480
(Less)/Add: Amortization
(Increase)/Decrease In Net Assets
Net Accounts Receivable		-			13,632
Net Inventory		-			-
Prepaid Rent
Prepaid & Other Expenses		7,789			30,222
Increase/(Decrease) In Liabilities
Bank Overdrafts		-			-
Accounts Payable		7,502			37,928
Deferred Revenues		-			-
Accrue Payroll/Commission		3,707			8,292
Accrued Consulting		7,500			30,000

Other Current Liabilities		6,000			24,240
Collection of insurance proceeds Due to Inactive Affiliates		-			71,915
Cash Provided by/(used in) operations		(12,772	)		5,661
Capital Expenditures		-			-
Cash provided by/(used in) investing activities		-			-
Proceeds/(Repayments of) Debt		-			-
Proceeds received on behalf of Affiliates
Cash provided by (used in) financing activities		-			-
Change in cash		(12,772	)		5,661
Cash Balance at the Beginning Of Period		58,156			39,723
Cash Balance at the End of the Period	$	45,384		$	45,384

4

PubliCARD, Inc.
(Debtor-In-Possession)

Statement Of Receipts And Disbursements

For the Period Ending September 30, 2007

		Month Ended September 30, 2007
Disbursements
Checks Cut From Operating Account	$	-
Wires From Operating Account		-
Payments To Professionals		-
Voided Checks		-
Benefits		-
Payroll and Associated Taxes		12,445
Bank and Payroll fees		1,191
Taxes		-
Wires From Depository Account		-
Disbursements From Depository Account		-
Principal Repaments		-
Total Disbursements	$	13,636
Receipts
Interest Income	$	89
A/R Receipts		-
Insurance Settlements		-
Total Receipts	$	89
Net Inflow/(Outflow)	$	(13,547	)

5

PubliCARD, Inc.
(Debtor-In-Possession)
Disbursement List
For the Period Ending September 30, 2007
Disbursements		Month Ended September 30, 2007
Sarachek		7,500
Prior period payroll and processing		4,167
Payroll Processing		257
Payroll Taxes		778
Bank Fees		934
Total	$	13,636

6

Wachovia
Bank Reconciliation
Account		Bank Balance		Book Balance		Variance
2030000846371	$	45,384	$	45,384	$	-
Checks Outstanding
Number		Payee		Amount
Total			$	-
Deposits In Transit
Net Adjustments			$	-

7

PubliCARD, Inc.
(Debtor-In-Possession)
Variance To Budget
For the Period Ending September 30, 2007
Accrual Basis
		Actual September 30, 2007			Projected September 30, 2007			Variance September 30, 2007
Revenue	$	-		$	-		$	-
Operating Expenses
Wages, Consulting Fees and Payroll Taxes		22,155			12,258			(9,897	)(1)
Rent		3,764			3,750			(14	)
Insurance Expense		7,965			7,965			-
Office Expenses		2,674			4,000			1,326
Pre-petition claims		-			-			-
Other Expenses		2,301			4,000			1,699
Depreciation Of Fixed Assets		96			96			(0	)
Total Operating Expenses		38,955			32,069			(6,886	)
Operating Gain/(Loss)		(38,955	)		(32,069	)		6,886
Other Expense/(Income)
Interest Expense		-			-			-
Loss/(Gain) On The Sale Of Assets		-			-			-
Claim Settlement		-			-			-
Insurance Settlements		-			-			-
Interest Income		(89	)		-			89
Gain/(Loss) Before Reorganizational Items and Taxes		(38,866	)		(32,069	)		6,797
Reorganization Professional Fees (Estimated and Accrued)		6,000			6,000			-
U.S. Trustee Fees		500			-			-
Gain/(Loss) Before Income Taxes		(45,366	)		(38,069	)		(7,297	)
Provision For Income Taxes		-			-			-
Net Income/(Loss)	$	(45,366	)	$	(38,069	)	$	(7,297	)

(1) Prior period payroll not previously recorded was paid. Additionally, Mr. Sarachek's $7,500 per month deferred salary is included in this amount

8

PubliCARD, Inc.
(Debtor-In-Possession)
Budget
For the Period Ending September 30, 2007
Accrual Basis
	Projected
	October 31, 2007
Revenue	$	-
Operating Expenses
Wages and Payroll Taxes		19,600
Rent		4,000
Insurance Expense		10,000
Office Expenses		4,000
Other Expenses		4,000
Depreciation Of Fixed Assets		96
Total Operating Expenses		41,696
Operating Gain/(Loss)		(41,696	)
Other Expense/(Income)
Interest Expense		-
Loss/(Gain) On The Sale Of Assets		-
Claim Settlement		-
Insurance Settlements		-
Interest Income		-
Income/(Loss) Before Reorganizational Items and Taxes		(41,696	)
Reorganization Professional Fees (Estimated)		6,000
Income/(Loss) Before Income Taxes		(47,696	)
Provision For Income Taxes		-
Net Income/(Loss)	$	(47,696	)

9