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): August 15, 2002
FINANCIAL INDUSTRIES CORPORATION
(Exact name of Registrant as specified in charter)
Texas 0-4690 74-2126975
(State or other jurisdiction (Commission file number) (I.R.S. employer
of incorporation) identification no.)
6500 River Place Blvd., Building One
Austin, Texas 78730
(Address of principal executive offices)
Registrant's telephone number, including area code: (512) 404-5000
__________________________
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Item 5.Other Events
The Company's quarterly report on Form 10-Q for the period ended June 30, 2002
was due on August 14, 2002. On August 15, 2002, the Company filed with the
Securities and Exchange Commission a Form 12b-25, Notification of Late Filing,
indicating that the quarterly report would not be timely filed. As indicated in
the Form 12b-25 filing, the Company has been working diligently to prepare its
consolidated financial statements for the quarter and six-month periods ended
June 30, 2002 and such consolidated financial statements have been substantially
completed. However, in connection with the preparation of such reports,
management discovered that certain expenses which were paid by the Company
during the reporting period and prior reporting periods may have been personal,
rather than business-related expenses, of the President and Chief Executive
Officer of the Company. On August 15, 2002, the Audit Committee of the Board of
Directors retained independent counsel to conduct a review for the current and
prior periods. The Company does not anticipate this review will reveal any
significant change in the Company's results of operations for the quarter ended
June 30, 2002 from the corresponding period for the last fiscal year, but
independent counsel is not able to complete a review of this matter by the due
date of the Company's Form 10-Q for the periods ended June 30, 2002 without
unreasonable effort or expense.
Exhibits.
99.1* - Press Release dated August 15, 2002
______________
* Filed herewith
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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.
FINANCIAL INDUSTRIES
CORPORATION
Date: August 15, 2002 By: /s/ Jeffrey H. Demgen
Jeffrey H. Demgen
Chief Financial Officer
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Exhibit 99.1
FOR IMMEDIATE RELEASE
August 15, 2002
FOR MORE INFORMATION CONTACT
Robert S. Cox
512-404-5128
FINANCIAL INDUSTRIES CORPORATION
ANNOUNCES
FILING OF FORM 12b-25 NOTIFICATION OF LATE FILING
AUSTIN, TEXAS -- Financial Industries Corporation (FIC) today announces that it
has filed a Form 12b-25 Notification of Late Filing of its Form 10-Q for the
quarter ended June 30, 2002.
As indicated in the Form 12b-25 filing, the Company has been working diligently
to prepare its consolidated financial statements for the quarter and six-month
periods ended June 30, 2002 and such consolidated financial statements have been
substantially completed. However, in connection with the preparation of such
reports, management discovered that certain expenses which were paid by the
Company during the reporting period and prior reporting periods may have been
personal, rather than business-related expenses, of the President and Chief
Executive Officer of the Company. On August 15, 2002, the Audit Committee of the
Board of Directors retained independent counsel to conduct a review for the
current and prior periods. The Company does not anticipate this review will
reveal any significant change in the Company's results of operations for the
quarter ended June 30, 2002 from the corresponding period for the last fiscal
year, but independent counsel is not able to complete a review of this matter by
the due date of the Company's Form 10-Q for the periods ended June 30, 2002
without unreasonable effort or expense.
The information in this release relating to the Company's operations and
financial results, future business developments, and contingencies and
uncertainties constitute forward-looking statements under the Private Securities
Litigation Reform Act of 1995.
The Company's NASDAQ symbol is FNIN. For more information on FIC, go to
http://www.ficgroup.com on the Internet.
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