UNITED
STATES
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) September 15, 2008.
Law Enforcement Associates
Corporation
(Exact
name of registrant as Specified in its charter)
Nevada
|
0-49907
|
56-2267438
|
(State or
other jurisdiction of incorporation)
|
(Commission
file number)
|
(IRS Employer
Identification No.)
|
2609 Discovery Drive, Suite
125, Raleigh, NC 27616
(Address
of principal executive offices) (Zip Code)
ISSUER’S
TELEPHONE NUMBER: (919) 554-4700
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 (see General Instruction A.2. below):
[ ]
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
On September 12, 2008, the Company
received a letter from the American Stock Exchange informing the Company that it
is not in compliance with Section 1003(a)(ii) of the American Stock Exchange’s
Company Guide because the Company does not have stockholders’ equity of
$4,000,000 and has sustained losses from continuing operations and net losses in
three of its four most recent fiscal years. In addition, the American
Stock Exchange is requesting that the Company reverse split its common
stock.
In
response to the deficiency letter, the Company now has until October
13, 2008 to submit a plan advising the AMEX of what action(s) it has taken or
will take that will bring it into compliance with the continued listing
standards identified in the letter. This plan will need to
include specific milestones, quarterly financial predictions and details related
to any strategic initiative the Company plans to complete. If the
plan is accepted, the Company may be able to continue its listing during the
plan period or the AMEX may decide to delist the Company. In that
event, the Company’s common stock would then be listed on the Over the Counter
Bulletin Board.
The
Company’s Board of Directors has reviewed the letter and is considering its
options on how to become back in compliance with the AMEX listing
requirements.
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.
|
Law
Enforcement Associates Corporation
|
|
|
|
(Registrant)
|
|
|
|
|
|
Dated:
September 17, 2008
|
By:
|
/s/ Paul
Feldman
|
|
|
|
Paul
Feldman, President
|
|
|
|
|
|
|
|
|
|