8-K: Current report filing
Published on July 1, 2005
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 1, 2005
Access Pharmaceuticals, Inc.
------------------------------------------------------
(Exact name of registrant as specified in its charter)
Delaware 0-9314 83-0221517
- ------------------------ ------------------------ -------------------
(State of Incorporation) (Commission File Number) (I.R.S. Employer
Identification No.)
2600 Stemmons Freeway, Suite 176, Dallas, Texas 75207
----------------------------------------------- ---------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (214) 905-5100
--------------
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
As previously disclosed Access Pharmaceuticals received notice from the staff
of The American Stock Exchange ("AMEX") indicating that we were not in
compliance with Section 1003(a)(i) of the AMEX Company Guide, in that our
stockholders' equity is less than $2 million and we have sustained losses
from continuing operations and/or net losses in two of our three most recent
fiscal years; with Section 1003(a)(ii) of the AMEX Company Guide, in that our
stockholders' equity is less than $4 million and we have sustained losses
from continuing operations and/or net losses in three of our four most recent
fiscal years; and with Section 1003(a)(iii) of the AMEX Company Guide,
in that our stockholders' equity is less than $6 million and we have sustained
losses from continuing operations and/or net losses in our five most recent
fiscal years.
We submitted a plan to AMEX advising AMEX of the actions we have taken, or will
take, that would bring us into compliance with the applicable listing
standards. AMEX accepted our plan to regain compliance with the continued
listing standards by December 31, 2005. If we are not in compliance with
the continued listing standards at the end of the period or do not make
progress consistent with the plan during such period, AMEX may initiate
delisting proceedings with respect to our Common Stock.
On July 1, 2005, we issued a press release announcing the receipt of the
Notice from AMEX. A copy of the press release is attached hereto as
Exhibit 99.1 and is incorporated by reference herein.
ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits.
EX-99.1 Access Pharmaceuticals, Inc. Press Release, dated July 1, 2005.
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.
Access Pharmaceuticals, Inc.
(Registrant)
By: /s/ Stephen B. Thompson
------------------
Stephen B. Thompson
Vice President and
Chief Financial Officer
Dated July 1, 2005
3