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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 the earliest event reported)
May 1, 2001
PLAY BY PLAY TOYS & NOVELTIES, INC.
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
Texas 0-26374 74-2623760
(State or other jurisdiction of (Commission (I.R.S. Employer Identification No.)
incorporation or organization) File Number)
4400 Tejasco
San Antonio, Texas 78218
(Address of principal executive offices and zip code)
(210) 829-4666
(Registrant's telephone number, including area code)
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ITEM 5. OTHER EVENTS
On May 2, 2001, Play By Play Toys & Novelties, Inc. (the "Company")
announced that on May 1, 2001, it received a Nasdaq Staff Determination
indicating the Company's securities will be delisted from The Nasdaq National
Stock Market, but will be eligible to trade on the OTC Bulletin Board
effective with the open of business on May 2, 2001.
The Company previously announced on March 1, 2001, that it had received a
Nasdaq Staff Determination indicating the Company no longer complied with the
continued listing requirements of The Nasdaq Stock Market, and that its
securities were therefore, subject to being delisted from the Nasdaq National
Market. Specifically, the Company did not meet the continued listing
requirements of Nasdaq Marketplace Rule 4450(a)(5), as the Company's stock had
failed to maintain a minimum bid price of $1.00 per share for the required 30
consecutive days. Furthermore, the Company's common stock failed to maintain
a minimum market value of public float of $5 million for 30 consecutive days
as required by Marketplace Rule 4450(a)(2). The Company exercised its right
to appeal the Staff Determination and requested a hearing before a Nasdaq
Listing Qualifications Panel. The hearing occurred on April 5, 2001 and the
May 1, 2001 Nasdaq Staff Determination was the culmination of this hearing.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits
99.4 Press Release dated May 1, 2001 by Play By Play Toys & Novelties, Inc.
regarding the Company receiving notification of Delisting from the Nasdaq
Listing Qualifications Panel.
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INDEX TO EXHIBITS
NUMBER DESCRIPTION OF EXHIBITS
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99.4* Press Release dated May 1, 2001 by Play By Play Toys & Novelties, Inc.
regarding the Company receiving notification of Delisting from the
Nasdaq Listing Qualifications Panel.
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* Included 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, thereunto duly authorized, this 8th day of May 2001.
PLAY BY PLAY TOYS & NOVELTIES, INC.
By: /s/ Joe M. Guerra
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Joe M. Guerra
CHIEF FINANCIAL OFFICER AND TREASURER
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