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PAULSON CAPITAL CORP FILES (8-K) Disclosing Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing, Financial Statements and Exhibits

February 20, 2014



Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

On February 19, 2014, Paulson Capital Corp. (the "Company") was notified by The NASDAQ Stock Market LLC ("NASDAQ") that, following a hearing on February 6, 2014, the NASDAQ Listing Qualifications Panel (the "Panel") has determined to grant the Company's request for continued listing of the Company's common stock on The NASDAQ Capital Market. Notwithstanding the Panel's determination to continue the Company's listing on NASDAQ, in accordance with the discretionary authority granted NASDAQ under NASDAQ Listing Rule 5101, the Panel issued a public reprimand letter to the Company based upon the Panel's determination that the Company has been remiss in failing to provide timely notifications in accordance with NASDAQ Listing Rule 5250(e)(6) and SEC Rule 10b-17, to ensure clear and complete disclosure with respect to shareholder rights to the Paulson Liquidating Trust and non-trust assets, and regarding plans for the Company's operating subsidiary, Paulson Investment Company, Inc.

Based on the Panel's determination in this matter, the Company's listing review is now closed.

On February 20, 2014, the Company announced that, as a result of the Panel's determination as described above, it will continue to remain listed on NASDAQ. The Company also announced its receipt of a public reprimand letter from the Panel. The announcements were made by means of a press release dated February 20, 2014, the text of which is set forth in Exhibit 99.1 attached hereto.

Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit Description 99.1 Press Release dated February 20, 2014



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Source: Edgar Glimpses


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