U.S.
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: December 2, 2009
TRANSAX
INTERNATIONAL LIMITED
__________________________________________________
(Exact
Name of Small Business Issuer as Specified in its Charter)
COLORADO
________________________________________
(State or
other Jurisdiction as Specified in Charter)
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00-27845
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84-1304106
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(Commission
file number)
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(I.R.S.
Employer Identification
No.)
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950 South
Pine Island Rd
Suite
A-150
Plantation,
Florida 33324
_______________________________
(Address
of Principal Executive Offices)
888.317.6984
____________________
(Issuer's
telephone number)
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
Requirement
Notice of
Delisting
On
November 24, 2009 Transax International Limited (“the Company”) received notice
from the Financial Industry Regulatory Authority (“FINRA”) that its common stock
may be removed from trading on the Over the Counter Bulletin Board (“OTCBB”) as
early as opening of trade on December 3, 2009. The Company was informed that
pursuant to FINRA Rule 6350(e) the Company had been delinquent in its reporting
obligations for a third time in twenty four months, and therefore would be
removed from the OTCBB at the open of trade on December 3, 2009.
The
Company was delinquent in its third quarter 2009 financials (Form 10-Q) which
was due by 5.30pm EST on November 23, 2009. The Company’s filing was accepted by
the SEC on November 24, 2009. Although the Company is not delinquent in any of
its filings, it remains subject to FINRA Rule 6530.
The
Company was also late in filing of its 10-Q for June 2008 by 2.5 hours but was
not aware that it was delinquent in its reporting obligations as it did not
receive any notification from FINRA.
The
Company was also notified that it was given up to 4.00pm EST on December 1, 2009
to appeal the FINRA decision. Based on a number of factors and the experience of
many other companies in a similar situation, the Company has not appealed the
decision of FINRA.
Accordingly,
the Company’s securities will be removed from the OTCBB as of December 3, 2009.
The Company’s stock will continue to be traded on the Over the Counter Pink
Sheet Market and the Company’s ticker symbol will have the appended “E”
removed.
The
Company intends to remain fully reporting in accordance with the requirements of
the United States Securities & Exchange Commission (SEC).
ITEM 9.01
FINANCIAL STATEMENTS AND EXHIBITS
(c)
Exhibits.
99 -
Press Release, dated December 2, 2009
SIGNATURES
In
accordance with 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.
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Transax
International Limited |
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Date: December
2, 2009
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By:
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/s/ Stephen
Walters |
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Stephen
Walters |
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President
and Chief Executive Officer
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