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: July 2, 2002
(Date of earliest event reported)
SANDATA TECHNOLOGIES, INC.
(Exact Name of Registrant as specified in charter)
Delaware 0-14401 11-2841799
State or other Commission (I.R.S. Employer
Jurisdiction of File Number) Identification
Incorporation) Number)
26 Harbor Park Drive, Port Washington, New York 11050
(Address of principal executive offices) (Zip Code)
Registrant's Telephone Number, including area code (516) 484-4400
Item 5. Other Events
On July 9, 2002 Sandata Technologies, Inc. (the "Company") issued a press
release announcing that Nasdaq had informed the Company that its shares would be
subject to de-listing from the Small Cap Market for failure to comply with
Nasdaq's Marketplace Rules regarding minimum value of publicly held shares and
minimum bid price per share. The Company has requested a hearing on these
matters, and the de-listing will be stayed until the hearing. A copy of the
press release is attached hereto as Exhibit 99.
Exhibits
99. Press Release dated July 9, 2002.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Company has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Dated: July 9, 2002
By: /s/ Bert E. Brodsky
Bert E. Brodsky,
Chairman of the Board and
Chief Executive Officer
EXHIBITS
Exhibit
Number Description of Exhibit
99 Press Release issued by Company on July 9, 2002
EXHIBIT 99
Contact: Bert Brodsky
26 Harbor Park Drive
Port Washington, NY 11050
Phone: (516) 484-4400, X-200
Fax: (516) 484-3290
E-mail: bbrodsky@sandata.com
For Immediate Release:
Port Washington, NY, July 9, 2002: Sandata Technologies, Inc. (Nasdaq:
SAND) (the "Company") announced today that, by letter dated July 2, 2002, Nasdaq
notified the Company that its Common Stock had failed to comply with the minimum
market value of publicly held shares ("MVPHS") requirement of Nasdaq Marketplace
Rule 4310(c)(7). The Company's Common Stock is, therefore, subject to de-listing
from the SmallCap Market. The Company has requested a hearing before a Listing
Qualifications Panel, at which it will seek continued listing. The Company
expects the hearing to be scheduled within 30 to 45 days.
The Company has also been notified by Nasdaq that the Company has not
complied with Marketplace Rule 4310(c)(4), which requires a minimum bid price of
$1.00 per share of Common Stock. The Company has until November 11, 2002 to
comply with Rule 4310(c)(4). The Company will detail its plan to comply with
both Rule 4310(c)(4) and the MVPHS requirement at the hearing referred to above.
There can be no assurance that the Panel will grant the Company's request for
continued listing.
The Company is a leading provider of advanced Information Technology (IT)
solutions for payroll and billing, electronic time and attendance services and
IT support services.
Forward Looking Statements - This press release includes forward-looking
statements which involve known and unknown risks and uncertainties or other
factors that may cause actual results, performance or achievements to be
materially different from any future results, performance or achievements
expressed or implied by such forward-looking statements. When used herein, the
words "may", "could", "expects", "believes", and "anticipates", and similar
expressions (or the negative variations thereof) identify forward-looking
statements within the meaning of the Private Securities Litigation Reform Act of
1995. Readers are cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date hereof. For a discussion of such
risks and uncertainties, including but not limited to risks relating to
developments in and regulation of the health-care industry, new technology
developments, competitive bidding, risks and uncertainties associated with the
Internet and Internet-related products, and other factors which could cause
actual results to differ from those contained in the forward-looking statements,
readers are urged to carefully review and consider various disclosures made by
Sandata which attempt to advise interested parties of the factors which affect
its business, including, without limitation, the disclosures made under the
captions "Business" and "Management's Discussion and Analysis of Financial
Condition and Results of Operations" in Sandata's Annual Report on Form 10-KSB
for the most recently ended fiscal year, and other Securities and Exchange
Commission filings.