kl08052.htm
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 27,
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.
|
Notice
of Delisting or Failure to Satisfy a Continued Listing Rule or Standard;
Transfer of Listing.
|
On August 27, 2008, the registrant
received notice from the NASDAQ Stock Market (“NASDAQ”) of the failure of the
registrant to maintain a minimum of $2,500,000 in stockholders’ equity at June
30, 2008, as required by NASDAQ Marketplace Rule 4310(c)(2).
NASDAQ’s
August 27th notice does not affect the notice of delisting previously received
by registrant from NASDAQ in respect of the failure of registrant’s common stock
to maintain a minimum bid price of $1.00 per share, which was described in the
registrant’s Current Report on Form 8-K, filed on August 25,
2008. The registrant is currently appealing NASDAQ’s determination,
and a hearing before a NASDAQ Listing Qualifications Panel (the "Panel") has
been scheduled for October 23, 2008 to address registrant's
appeal. The Panel will also consider the matter contained in the
August 27th notice
in rendering a determination regarding the registrant’s continued listing on The
NASDAQ Capital Market.
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
28, 2008