SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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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) September 12, 2002
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DSET CORPORATION
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(Exact Name of Registrant as Specified in Charter)
New Jersey 0-23611 22-300022
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(State or Other Jurisdiction (Commission File Number) (IRS Employer
of Incorporation) Identification No.)
661 Shrewsbury Avenue
Shrewsbury, New Jersey 07702
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code (732) 945-6000
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(Former Name or Former Address, if Changed Since Last Report)
Item 5. Other Events.
On September 12, 2002, DSET Corporation, a New Jersey corporation (the
"Company"), announced that it had received a letter from the Nasdaq Stock
Market, Inc. stating that the Company's Common Stock is subject to delisting
from the Nasdaq SmallCap Market because the Company had not regained compliance
with the $1.00 minimum bid price per share requirement set forth in Marketplace
Rule 4310(c)(8)(D). The Company transferred the listing of its Common Stock from
the Nasdaq National Market to the Nasdaq SmallCap Market on May 29, 2002 and is
not eligible for a 180 calendar day grace period to regain such compliance given
that it does not meet the $5.0 million stockholders' equity requirement for
initial inclusion on the NASDAQ SmallCap Market set forth under Marketplace Rule
4310(c)(2)(A).
The Company has requested a hearing before the Nasdaq Listing
Qualifications Panel to appeal the ruling by Nasdaq.
A copy of the press release relating to such letter is incorporated herein
by reference and attached hereto as Exhibit 99.1.
Exhibits.
99.1 Press Release dated September 12, 2002.
SIGNATURE
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.
DSET CORPORATION
By: /s/ Bruce M. Crowell
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Name: Bruce M. Crowell
Title: Chief Financial Officer
September 12, 2002
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