PacificNet Inc.
UNITED
STATES
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) July 5, 2007
PACIFICNET
INC.
(Exact
name of registrant as specified in charter)
|
Delaware
|
000-24985
|
91-2118007
|
|
(State
or Other Jurisdiction
|
(Commission
File
|
(IRS
Employer
|
|
of
Incorporation)
|
Number)
|
Identification
No.)
|
c/o
PacificNet Inc.
23/F,
Tower A, TimeCourt, No.6 Shuguang Xili,
Chaoyang
District, Beijing, China 100028
(Address
of Principal Executive Offices) (Zip Code)
011-852-2876-2900
(Registrant’s
telephone number, including area code)
(Former
Name or Former Address, if Changed Since Last Report)
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))
Item
3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or
Standard; Transfer of Listing.
On
July
5, 2007, PacificNet Inc. (NASDAQ: PACT) (the “Company” or “PacificNet”), issued
a press release, attached to this Current Report on Form 8-K as Exhibit 99.1,
reporting that the Company received a letter on July 2, 2007 (the “Appeal
Letter”), from The Nasdaq Stock Market indicating that, as a result of the
Company’s appeal of the initial determination of the staff of the Listing
Qualifications department to seek the delisting of PacificNet’s common stock
from the Nasdaq Global Market due to non-compliance with certain of Nasdaq’s
listing maintenance rules, the Company had been granted an extension for such
compliance, subject to the conditions contained in the Appeal Letter and
described in the press release and that
the
Company provides certain other confirmations to the Nasdaq regarding the
Company’s stock option granting practices and board member
independence.
A
copy of
a press release relating to the foregoing is attached hereto as Exhibit 99.1
and
is incorporated in this Item 3.01 by reference.
Safe
Harbor Statement
This
Company's announcement contains forward-looking statements. Statements that
are
not historical facts, including statements about our beliefs and expectations,
are forward-looking statements. Forward-looking statements involve inherent
risks and uncertainties. Potential risks and uncertainties include, but are
not
limited to, PacificNet's historical and possible future losses, limited
operating history, uncertain regulatory landscape in China, fluctuations in
quarterly operating results and PacificNet’s ability to maintain its continued
listing on Nasdaq. Further information regarding these and other risks is
included in PacificNet's Form 10-Q and 10-K and other filings with the SEC.
Item
9.01. Financial Statements and Exhibits.
The
following exhibit is furnished herewith:
99.1
Press release dated July 5, 2007
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.
PACIFICNET
INC.
By:
__/s/
Victor Tong_______
Name:
Victor Tong
Title:
President
Dated:
July 11, 2007
EXHIBIT
INDEX
Exhibit
No.
Description
99.1
Press
Release of PacificNet Inc. dated July 5, 2007