UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
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CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of report (Date of earliest event reported): April 15, 2008
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JACOBS FINANCIAL GROUP, INC.
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(Exact Name of Registrant as Specified in Its Charter)
Delaware
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(State or Other Jurisdiction of Incorporation)
0-21210 84-0922335
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(Commission File Number) (I.R.S. Employer Identification Number)
300 Summers Street, Suite 970, Charleston, West Virginia 25301
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(Address of Principal Executive Offices) (Zip Code)
(304) 343-8171
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(Registrant's Telephone Number, Including Area Code)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:
|_| Written communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)
|_| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
|_| Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
|_| Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
SECTION 1 - REGISTRANT'S BUSINESS AND OPERATIONS
Item 1.02 Termination of a Material Definitive Agreement
Effective June 9, 2008, the Registrant terminated its engagement agreement
dated December 5, 2007, with Friedman, Billings, Ramsey & Co., Inc. ("FBR")
under which FBR was to act as placement agent/financial advisor with respect to
certain equity financing matters.
SECTION 8 - OTHER EVENTS
Item 8.01 Other Events
(a) By agreement dated April 15, 2008, the Registrant engaged Berkshire
Capital Securities LLC ("BC") to act on behalf of the Registrant in connection
with a transaction with a strategic partner. BC will be entitled to a fee of
$250,000 upon the successful completion of a transaction that meets the
Registrant's requirements.
(b) The Registrant has issued a press release announcing that it has
completed the previously announced current interim financing totaling $1,000,000
and has contributed $500,000 of the proceeds of the financing to its wholly
owned subsidiary, First Surety Corporation (FSC). FSC, a domestic surety in West
Virginia with inactive licenses in Ohio and Indiana, anticipates filing its
application with the Insurance Commissioner of the State of Ohio to reactivate
its insurance license in Ohio and obtain authority to issue surety bonds in that
state. A copy of the press release is included as Exhibit 99.1.
SECTION 9. FINANCIAL STATEMENTS & EXHIBITS
(a) Financial Statements of Business Acquired
None.
(b) Pro Forma Financial Information
None.
(c) Shell Company Transactions
None.
(d) Exhibits
99.1 Press Release
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 hereunto duly authorized.
Jacobs Financial Group, Inc.
/s/ John M. Jacobs
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Date: July 9, 2008 John M. Jacobs
President