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): | January 26, 2005 |
Paulson Capital Corp.
__________________________________________
(Exact name of registrant as specified in its charter)
Oregon | 0-18188 | 93-0589534 |
_____________________ (State or other jurisdiction | _____________ (Commission | ______________ (I.R.S. Employer |
of incorporation) | File Number) | Identification No.) |
811 SW Naito Parkway, Suite 200, Portland, Oregon | 97204 | |
_________________________________ (Address of principal executive offices) | ___________ (Zip Code) |
Registrant’s telephone number, including area code: | 503-243-6000 |
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:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 1.01. Entry into a Material Definitive Agreement.
In March 2002, the Company’s wholly owned subsidiary, Paulson Investment Company, Inc. ("PICI"), and one of its registered representatives, Marvin Cox ("Cox"), were named as defendants in a lawsuit filed by Louis Barinaga, former PICI customer. The claims of Barinaga relate to his investment in e.Digital Corporation ("e.Digital") stock and on transactions involving his e.Digital stock with UBS Financial Services, Inc., formerly known as UBS PaineWebber, Inc., successor by merger to PaineWebber, Inc. The claimant agreed to settle all of his claims against PICI and Cox relating to the e.Digital securities in consideration of payments by the defendants of $1,100,000 to Mr. Barinaga. Agreements manifesting the settlement were signed on or about January 26, 2005 with Mr. Barinaga.
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.
Paulson Capital Corp. | ||||
January 27, 2005 | By: | Chester L.F. Paulson | ||
Name: Chester L.F. Paulson | ||||
Title: President |