-----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, Ojco56d0GhBK5mF6yyxzGprZAkqF9Nm6VPbKAqtqj0OtZxaXJc59Uxuu7y7xD4ei K9Jn1io+nNervCtMNNcOMA== 0000950144-03-003797.txt : 20030326 0000950144-03-003797.hdr.sgml : 20030325 20030326154945 ACCESSION NUMBER: 0000950144-03-003797 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20030319 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20030326 FILER: COMPANY DATA: COMPANY CONFORMED NAME: VISUAL DATA CORP CENTRAL INDEX KEY: 0000919130 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMPUTER INTEGRATED SYSTEMS DESIGN [7373] IRS NUMBER: 650420146 STATE OF INCORPORATION: FL FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-22849 FILM NUMBER: 03618371 BUSINESS ADDRESS: STREET 1: 1291 SW 29 AVE STREET 2: STE 3A CITY: POMPANO BEACH STATE: FL ZIP: 33069 BUSINESS PHONE: 9549176655 MAIL ADDRESS: STREET 1: 1600 S DIXIE HIGHWAY STREET 2: SUITE 3A CITY: BOCA RATON STATE: FL ZIP: 33432 8-K 1 g81571e8vk.htm VISUAL DATA CORPORATION FORM 8-K VISUAL DATA CORPORATION FORM 8-K
 

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 19, 2003

VISUAL DATA CORPORATION

(Exact name of registrant as specified in its charter)
         
Florida   000-22849   65-0420146
 
 
(State or other jurisdiction
or incorporation)		   (Commission File
Number) 		  (IRS Employer
Identification No.)

1291 S.W. 29th Avenue, Pompano Beach, Florida 33068

(Address of principal executive offices, including zip code)

Registrant’s telephone number, including area code (954) 917-6655

NOT APPLICABLE

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

 

 

ITEM 5. OTHER EVENTS.

     On March 19, 2003, Visual Data Corporation (the “Company”) was notified that it had received a letter from the Nasdaq Stock Market informing the Company that it is eligible to have its securities delisted from the Nasdaq SmallCap Market at the opening of business on March 28, 2003. The Company has appealed such determination. The hearing request will automatically stay the delisting pending the hearing and the Panel’s decision.

     On March 25, 2003, the Company filed a press release about this matter, a copy of which is filed as an exhibit to this Form 8-K.

ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.

     (c)  Exhibits.

             
Exhibit No.   Description        
 
       
99.1   Press Release of the Company dated March 25, 2003.

2

 

SIGNATURE

     Pursuant to the requirements of the Securities Exchange Act of 1934, Visual Data Corporation has caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

     
    VISUAL DATA CORPORATION
     
     
     
    By: /s/ Gail Babitt
   
    Name: Gail Babitt
Title: Chief Financial Officer
Dated: March 26, 2003    

3 EX-99.1 3 g81571exv99w1.htm PRESS RELEASE PRESS RELEASE

 

Exhibit 99.1

FOR IMMEDIATE RELEASE

For more information, contact:

Barry A. Rothman
Visual Data Corporation
954-917-6655
brothman@vdat.com

Visual Data Receives Notice From The Nasdaq Stock Market

Pompano Beach, FL – March 25, 2003 – Visual Data Corporation (Nasdaq: VDAT), today reported it has received a letter from The Nasdaq Stock Market informing the Company that it is eligible to have its securities delisted from The Nasdaq SmallCap Market at the opening of business March 28, 2003. In turn, Visual Data Corporation announced that it has availed itself of its right to appeal this determination to a Nasdaq Listing Qualifications Panel, pursuant to the procedures set forth in the Nasdaq Marketplace Rule 4800 Series. Accordingly, this hearing request will automatically stay the delisting of the Company’s securities pending the Panel’s decision. At such time that a hearing is conducted, Visual Data intends to submit a definitive plan evidencing its ability to regain compliance with the below-referenced Marketplace Rules. It should be noted that there are no assurances that the Panel will grant the Company’s request for continued listing on The Nasdaq SmallCap Market.

In the letter received from The Nasdaq Stock Market, the Company was notified that it has not regained compliance with the minimum $1.00 bid price per share requirement, as set forth in Marketplace Rule 4310(c)(4). In addition, the Company was informed that it is not eligible for an additional 90 calendar day compliance period given that it does not meet the initial inclusion requirements of The Nasdaq SmallCap Market under Marketplace Rule 4310(c)(2)(A); specifically that it does not qualify with the $5 million stockholders’ equity, $50 million market value of listed securities or $750,000 net income from continuing operations requirement.

About Visual Data Corporation

Visual Data Corporation (http://www.vdat.com) is a business services provider, specializing in meeting the webcasting needs of corporations, government agencies and a wide range of organizations, as well as providing audio and video transport and collaboration services for the entertainment, advertising and public relations industries.

This press release contains forward-looking statements, some of which may relate to Visual Data Corporation, and which involve numerous risks and uncertainties. Actual results, performance or achievements could differ materially from those anticipated in such forward looking statements as a result of certain factors, including those set forth in Visual Data Corporation’s filings with the Securities and Exchange Commission.

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