SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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) December 20, 2001
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The A Consulting Team, Inc.
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(Exact Name of Registrant as Specified in Charter)
New York 0-22945 13-3169913
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(State or Other Jurisdiction (Commission File (IRS Employer
of Incorporation) Number) Identification No.)
200 Park Avenue South, New York, New York 10003
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code (212) 979-8228
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(Former Name or Former Address, if Changed Since Last Report)
Item 5. Other Events.
On August 23, 2001 the Company was informed by Nasdaq that it did not
comply with the net tangible asset requirement as set forth in Nasdaq
Marketplace Rules 4450(a)(03) and 4450(b)(01) and that this issue would be
discussed at the Company's Nasdaq Listing Qualifications hearing. On October 18,
2001 the Company had its oral hearing before a Nasdaq Listing Qualifications
Panel (the "Panel") regarding its net tangible asset deficiency. On November 26,
2001 the Panel determined to continue listing the Company's securities on The
Nasdaq National Market providing that the Company make a public filing on or
before December 31, 2001 evidencing net tangible assets of at least $4,000,000.
The filing must contain a balance sheet no older than 45 days.
Accordingly, Item 7 Exhibits below contains The A Consulting Team,
Inc.'s November 30, 2001 Balance Sheet and related footnotes. This balance sheet
indicates that the Company's net tangible assets as of November 30, 2001 were
$4,035,065, which exceeds the Nasdaq requirement of $4,000,000.
Item 7. Exhibits.
Exhibits Description
99 The A Consulting Team, Inc. November 30, 2001 Balance
Sheet and Footnotes
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.
The A Consulting Team, Inc.
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Registrant
Date: December 20, 2001
By: /s/ Richard D. Falcone
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Name: Richard D. Falcone
Title: Chief Financial Officer and
Treasure
Exhibit Index
Exhibit No. Description
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99 The A Consulting Team, Inc. November 30, 2001 Balance Sheet
and Footnotes