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 earliest event reported): August 22,
2008
FRANKLIN
CREDIT MANAGEMENT CORPORATION
(Exact
Name of Registrant as Specified in Charter)
|
Delaware
|
0-17771
|
75-2243266
|
|
(State
or Other Jurisdiction
of
Incorporation)
|
(Commission
File
Number)
|
(I.R.S.
Employer
Identification
No.)
|
|
101
Hudson Street
Jersey
City, New Jersey
(Address
of Principal Executive Offices)
|
|
07302
(Zip
Code)
|
Registrant’s
telephone number, including area code: (201) 604-4402
_____________________________________________________________________________________
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 (see General
Instruction A.2. below):
o Written communications pursuant to Rule 425
under the Securities Act (17 CFR 230.425)
o Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
o Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
o Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
|
Item
3.01.
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Notice
of Delisting or Failure to Satisfy a Continued Listing Rule or Standard;
Transfer of Listing.
|
On February 20, 2008, the registrant
received notice from the NASDAQ Stock Market (“NASDAQ”) of the failure of its
common stock to maintain a minimum bid price of $1.00 per share for the
preceding 30 business days, as required by NASDAQ Marketplace Rule
4450(a)(5). The registrant was provided 180 calendar days, or until
August 18, 2008, to regain compliance with the rule for at least ten consecutive
trading days. The registrant’s compliance was not restored during
this period.
Accordingly,
on August 22, 2008, the registrant received notice from NASDAQ that unless the
registrant requests an appeal of NASDAQ’s determination, that trading in the
registrant’s common stock on NASDAQ would be suspended at the opening of
business on August 29, 2008 and that the registrant’s securities would be
removed from listing and registration on NASDAQ. The registrant
currently expects to appeal NASDAQ’s determination. If the
registrant’s appeal is rejected, the registrant expects to seek to arrange for
its quotation on the OTC Bulletin Board (“OTCBB”) and the “Pink Sheets,”
published by Pink OTC Markets, Inc., following its delisting.
Item
9.01. Financial
Statements and Exhibits.
(d) Exhibits
|
Exhibit
No.
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Description
|
|
99.1
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Press
Release, dated August 25, 2008, entitled “Franklin Credit Management
Receives Notice of Delisting from NASDAQ.”
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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 hereunto
duly authorized.
FRANKLIN CREDIT MANAGEMENT CORPORATION
By: /s/
Paul D.
Colasono
Name: Paul D. Colasono
Title: Chief Financial Officer and
Executive Vice
President
Date: August
25, 2008
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