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 15, 2005
FIRST MONTAUK FINANCIAL CORP.
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(Exact name of registrant as specified in its charter)
COMMISSION FILE NUMBER: 0-6729
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NEW JERSEY 22-1737915
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(State or other jurisdiction of (I.R.S. Employer Identification No.)
incorporation or organization)
Parkway 109 Office Center
328 Newman Springs Road
Red Bank, NJ 07701
(Address and zip code of principal executive offices)
(732) 842-4700
(Registrant's telephone number, including area code)
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FOLLOWING PROVISIONS:
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(17 CFR 230.425)
|_| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17
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|_| Pre-commencement communications pursuant to Rule 14d-2(b) under the
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|_| Pre-commencement communications pursuant to Rule 13e-4(c) under the
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Item 2.02 RESULTS OF OPERATIONS AND FINANCIAL CONDITION
On November 15, 2005, First Montauk Financial Corp. (the "Registrant")
issued a press release announcing results for the fiscal quarter ended September
30, 2005. A copy of the press release is attached as exhibit 99.1.
The information in this report shall not be deemed to be "filed" for
purposes of Section 18 of, or otherwise regarded as filed under, the Securities
Exchange Act of 1934, as amended. Unless expressly incorporated into a filing of
the Registrant under the Securities Act of 1933, as amended, or the Securities
Exchange Act of 1934, as amended, made after the date hereof, the information
contained herein shall not be incorporated by reference into any filing of the
Registrant, whether made before or after the date hereof, regardless of any
general incorporation language in such filing.
Item 9.01 FINANCIAL STATEMENTS AND EXHIBITS
Exhibit Press Release of First Montauk Financial Corp.
99.1 dated November 15, 2005.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report on Form 8-K to be signed on its behalf by
the undersigned hereunto duly authorized.
FIRST MONTAUK FINANCIAL CORP.
By: /s/ Victor K. Kurylak
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Name: Victor K. Kurylak
Title: Chief Executive Officer
Date: November 15, 2005
EXHIBIT INDEX
Exhibit Description
Number
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99.1 Press Release of First Montauk Financial Corp. dated
November 15, 2005.
Exhibit 99.1
[GRAPHIC OMITTED]
FIRST MONTAUK ANNOUNCES
THIRD QUARTER AND NINE MONTH RESULTS FOR FISCAL 2005
Red Bank, NJ - November 15, 2005 - First Montauk Financial Corp. (OTC/BB: FMFK),
a nationwide provider of investment services through independent financial
professionals, today announced financial results for the third quarter and nine
months ended September 30, 2005.
Revenues for the third quarter ended September 30, 2005 increased by 7% to $12.5
million compared to $11.7 million for the same period in 2004. The Company
reported a net loss applicable to common stockholders of $700,000 or ($.05) per
basic and ($.04) per diluted share for the three month period compared to a net
income applicable to common stockholders of $17,000 or $.00 per basic and
diluted share for the same period in 2004.
For the nine months ended September 30, 2005, revenues remained fairly constant
at $44.67 million compared to $44.81 million during the same period in 2004. The
Company reported a net income applicable to common stockholders for the nine
months of $2.6 million or $.19 per basic and $.14 per diluted share, compared to
a net income applicable to common stockholders of $235,000 or $.03 per basic and
$.02 per diluted share for the same period in 2004.
Victor K. Kurylak, President and CEO of Montauk Financial Group, commented,
"Despite continued market fluctuations, the Company is progressing on its core
initiatives of increased efficiencies, cost containment and the addition of high
quality financial professionals to our network of affiliated registered
representatives."
Montauk Financial Group is a service mark of First Montauk Securities Corp.,
Member NASD/SIPC. First Montauk Financial Corp. is the parent company of First
Montauk Securities Corp., a registered securities broker/dealer headquartered in
Red Bank, NJ, with approximately 60,000 retail and institutional accounts. The
Company's ability to offer quality support services, research, web-based
information systems and a competitive commission payout structure has attracted
independent, professional registered representatives across the country.
Additional information is available at the Company's website at
www.montaukfinancial.com.
Statements contained in this news release regarding expected financial results
of the Company and First Montauk Securities Corp., are forward-looking
statements, subject to uncertainties and risks, many of which are beyond the
Company's control, including, but not limited to, market conditions, interest
rate and currency fluctuations, dependence on key personnel, each of which may
be impacted, among other things, by economic, competitive or regulatory
conditions. These and other applicable risks are summarized under the caption
"Factors Affecting Forward Looking Statements" in the Company's Form 10-Q for
the third quarter ended September 30, 2005, as filed with the Securities and
Exchange Commission. Forward-looking statements by their nature involve
substantial risks and uncertainties. As a result, actual results may differ
materially depending on many factors, including those described above. The
Company cautions that historical results are not necessarily indicative of the
Company's future performance.
FIRST MONTAUK FINANCIAL CORP. AND SUBSIDIARIES
SELECTED FINANCIAL DATA
In 000's (except for per share amounts)
Nine months Three months
Ended September 30, Ended September 30,
(unaudited) (unaudited)
2005 2004 2005 2004
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Revenues $44,670 $44,810 $12,524 $11,747
Expenses 41,791 44,489 13,178 11,711
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Income (loss) before income $ 2,879 $ 321 $(654) $ 36
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taxes
Net income (loss) applicable $ 2,571 $ 235 $(700) $ 17
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to common stockholders
Earnings (loss) per share of
common stock:
Basic
$ 0.19 $ 0.03 $(0.05) $ 0.00
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Diluted $ 0.14 $ 0.02 $(0.04) $ 0.00
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Weighted average number of
shares of stock outstanding:
Basic
Diluted
13,859,366 9,291,318 14,622,209 9,516,709
20,116,007 15,713,257 14,622,209 9,618,770
Contact:
Montauk Financial Group
Victor K. Kurylak
President, CEO
732-842-4700, ext. 4230
info@montaukfinancial.com