8-K 1 fant8-k.txt 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) - April 17, 2001 -------------------- FINANTRA CAPITAL, INC. ------------------- (Exact name of registrant as specified in its charter) DELAWARE 0-22681 13-3571419 -------- ------------------ -------------- (State of other (Commission File Number) (IRS Employer jurisdiction or Identification No.) incorporation) 150 SOUTH PINE ISLAND ROAD, SUITE 500 PLANTATION, FLORIDA 33324 --------------------------- (Address of principal executive offices, including zip code) (954) 577-9225 ---------------------------------------------- (Registrant's telephone number, including area code) ------------------------- NOT APPLICABLE -------------------- (Former name or former address, if changed since last report) ITEM 5. Other Events. As previously announced, Finantra Capital, Inc.'s (the "Company's")$32.5 million credit facility with Finova Capital Corporation has matured. This facility was utilized by the Company to support the operations of Travelers Investment Corporation, the Company's consumer finance unit. While the Company continues to seek a new credit facility to refinance the expired Finova facility, no assure can be given that the Company will successfully secure such a new facility. In addition, and as previously announced, the Company's $3.65 million loan with BHC Interim Funding LP has matured. While the Company also continues to seek a source to refinance the expired BHC loan, no assurance can be given that the Company will successfully secure a source. Also, as previously announced, due to the Company's delinquency in its filing of its Annual Report on Form 10-K for the year ended December 31, 2000, the Company's NASDAQ Small Cap trading symbols have changed from FANT and FANTW to FANTE and FANTWE, respectively. The delinquency in the Company's filing of its form 10-K, together with, among other things, the Company's inability to maintain a minimum of $1.00 per share stock price, will be considered by the NASDAQ listing qualifications panel at the Company's hearing scheduled for May 11, 2001. ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS. (c) Exhibits No. Description --- ----------- 99 Press Release of the Company dated April 12, 2001. 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. FINANTRA CAPITAL, INC. Dated: April 17, 2001 By: /s/ Robert D. Press ------------------------ Chairman of the Board EXHIBIT INDEX NO. DESCRIPTION --- ----------- 99 Press Release of the Company dated April 12, 2001.

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): January 26, 2001

FINANTRA CAPITAL, INC.

(Exact name of registrant as specified in its charter)

DELAWARE (State or other jurisdiction or incorporation) 000-22681 (Commission File Number) 13-3571419 (IRS Employer Identification No.)

150 SOUTH PINE ISLAND ROAD, SUITE 500, PLANTATION, FLORIDA 33324

(Address of principal executive offices, including zip code)

Registrant’s telephone number, including area code (954) 577-9225

(Former name or former address, if changed since last report)

ITEM 5. Other Events.

Effective January 26, 2001, Mr. Maynard J. Hellman, a Director and General Counsel of Finantra Capital, Inc., a Delaware corporation (the “Company”), assumed the office of Chief Operating Officer of the Company. Mr. Hellman will continue to serve as the Company’s General Counsel and a Director. It is intended that Mr. Hellman serve as the Company’s Chief Operating Officer until a new Chief Operating Officer with experience in the consumer finance industry is retained.

Concurrently with Mr. Hellman’s appointment as Chief Operating Officer, Mr. Hellman resigned as Chairman of the Company’s Audit Committee. Mr. Steven Beitler, a Director of the Company, has assumed the position of Chairman of the Company’s Audit Committee.

Also effective January 26, 2001, Mr. Charles Litt resigned as President of the Company. Mr. Litt will continue as a Director of the Company and consult the Company with respect to business development opportunities and operations. Mr. Robert D. Press, Chairman of the Board and Chief Executive Officer of the Company, has assumed the office of the Company’s President.

In addition, Mr. Brian Lazarus, a certified public accountant, has been appointed Vice President of Finance and Treasurer of the Company. Mr. Lazarus, age 28, had been employed by KPMG, LLP since 1994, serving as a senior audit manager since 1997. Mr. Lazarus has extensive experience interacting with financial institutions and mortgage bankers.

Item 7.

No.				Description
	99.1			Press Release of the Company dated January 26, 2001.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.

FINANTRA CAPITAL, INC.

By: /s/ Robert D. Press

Robert D. Press, Chairman

Dated: January 26, 2001

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