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) April 15, 2003
PERFECTDATA CORPORATION
(Exact Name of Registrant as Specified in Its Charter)
California
(State or Other Jurisdiction of Incorporation)
0-12817 95-3087593
(Commission File Number) (IRS Employer Identification No.)
110 West Easy Street, Simi Valley, California 93065
(Address of Principal Executive Offices) (Zip Code)
(805) 581-4000
(Registrant's Telephone Number, Including Area Code)
INFORMATION TO BE INCLUDED IN THE REPORT
Item 5 Other Events.
On April 15, 2003, PerfectData Corporation (the "Company") issued a
press release reporting that, effective as of the opening of business on April
17, 2003, the Company's Common Stock, no par value (the "Common Stock"), would
be delisted from The Nasdaq SmallCap Market and that the Common Stock would
thereafter be eligible for quotations on the OTC Bulletin Board. A copy of the
press release is filed as Exhibit A to this Report and is incorporated herein by
this reference.
Item 7. Financial Statements and Exhibits.
(a) Financial statements of businesses acquired:
None
(b) Proforma financial information:
None
(c) Exhibits
Number Exhibit
A Press release dated April 15, 2003.
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.
PERFECTDATA CORPORATION
(Registrant)
Date April 16, 2003 By /s/ Irene J. Marino
(Signature)
Irene J. Marino
Vice President, Finance
Exhibit A
NEWS RELEASE For further information:
FOR IMMEDIATE RELEASE PERFECTDATA CORPORATION
April 15, 2003
Harris A. Shapiro
Chairman of the Board
(805) 581-4000, Ext. 200
PERFECTDATA'S COMMON STOCK DELISTED FROM NASDAQ
SIMI VALLEY, California, April 15, 2003 - PerfectData Corporation
(NASDAQ:PERF) announced today that, effective with the opening of trading on
Thursday, April 17, 2003, its Common Stock will be delisted from The Nasdaq
SmallCap Market. The Common Stock will immediately be eligible for quotation on
the OTC Bulletin Board under the symbol "PERF," the same symbol under which the
Common Stock was traded on Nasdaq.
The Company noted that, as previously reported, the Company was not in
compliance with two Nasdaq Market Rules, i.e., not having a shareholders' equity
in excess of $2,500,000 and its bid price being below $1.00 per share.
Harris A. Shapiro, PERF's Chairman and Chief Executive Officer,
commented that "We are obviously disappointed that our Common Stock was
delisted. However, our cash position is still strong and we shall continue to
seek an acquisition that will bring greater shareholder value for our
shareholders."
PerfectData Corporation, based in Simi Valley, California, designs and
markets a broad line of computer, office care and maintenance products and
accessories. The products are designed to eliminate or minimize contamination in
and around computers and office automation equipment, and to enhance user
performance.
The release herein may contain or identify a forward-looking statement.
These statements are based on a number of assumptions and estimates which are
inherently subject to uncertainty and contingencies, many of which are beyond
the control of the Company and reflect future business decisions which are
subject to change.