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): June 26, 2000
PRIME CAPITAL CORPORATION
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(Exact name of registrant as specified in its charter)
Delaware 000-14888 36-3347311
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(State or other jurisdiction Commission File (I.R.S. Employer
of incorporation) Number Identification No.)
10275 West Higgins Road, Suite 200, Rosemont, Illinois 60018
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(Address of principal executive offices)
Registrant's telephone number, including area code (847) 294-6000
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(Former name or former address, if changed since last report.)
ITEM 5. OTHER EVENTS.
On June 26, 2000, the Company issued a Press Release, announcing that the
Company and Finantra Capital, Inc. have discontinued negotiations for the
purchase of all of the Company's issued and outstanding common shares and
that the Company is pursuing all alternatives including a liquidation of the
Company's assets. As a result of the prolonged negotiations with Finantra and
cash flow problems, the Company has failed to timely file its Form 10-K and
10-Q and does not anticipate making such filings in the near future. Further,
the Company has reduced its workforce by approximately 50% to minimize
expenses during this period. A copy of the Press Release is attached hereto
as Exhibit 99.1 and the information contained in the Press Release is
incorporated herein by reference.
The foregoing summary does not purport to be complete and is qualified in its
entirety by reference to the Press Release, dated June 26, 2000.
ITEM 7 EXHIBITS
99.1 Press Release Dated June 26, 2000
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 thereunto duly authorized.
PRIME CAPITAL CORPORATION
(Registrant)
Dated: June 26, 2000 By: /s/ James A. Friedman
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James A. Friedman
President and Chief Executive Officer