<HTML>
<HEAD>
   <TITLE>eight-k.htm - Generated by SEC Publisher for SEC Filing</TITLE>
</HEAD>

<BODY bgcolor="#ffffff">

&nbsp; <A name="page_1"></A>

<DIV style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<a name="_bclHeader1"></a><DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman,serif"></FONT>&nbsp;</P></DIV>

<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align=right><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif"></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align=right><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif"></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif">UNITED STATES</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif">SECURITIES AND EXCHANGE COMMISSION</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif">WASHINGTON, D.C. 20549</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><U><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;</FONT></U></P>

<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif"></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif">FORM 8-K</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif"></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif">CURRENT REPORT</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif">Pursuant to Section 13 or 15(d) of the </FONT></B></P>

<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif">Securities Exchange Act of 1934</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif"></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif"></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif">Date of report (Date of earliest event reported): July 27, 2011</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif"></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif"></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><B><FONT lang=EN-US style="FONT-SIZE: 14pt" face="Times New Roman,serif">Investors Capital Holdings, Ltd.</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif">(Exact name of registrant as specified in its charter)</FONT></P>

<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif"></FONT>&nbsp;</P>

<DIV align=center>

<TABLE style="MARGIN-LEFT: 1.75pt; WIDTH: 451.25pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="PADDING-RIGHT: 1.75pt; PADDING-LEFT: 1.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="30%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif">&nbsp;&nbsp;</FONT></P></TD>

   <TD style="PADDING-RIGHT: 1.75pt; PADDING-LEFT: 1.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif">&nbsp;&nbsp;</FONT></P></TD>

   <TD style="PADDING-RIGHT: 1.75pt; PADDING-LEFT: 1.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="30%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif">&nbsp;&nbsp;</FONT></P></TD>

   <TD style="PADDING-RIGHT: 1.75pt; PADDING-LEFT: 1.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif">&nbsp;&nbsp;</FONT></P></TD>

   <TD style="PADDING-RIGHT: 1.75pt; PADDING-LEFT: 1.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="30%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif">&nbsp;&nbsp;</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-RIGHT: 1.75pt; PADDING-LEFT: 1.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="30%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif">Delaware</FONT></P></TD>

   <TD style="PADDING-RIGHT: 1.75pt; PADDING-LEFT: 1.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-RIGHT: 1.75pt; PADDING-LEFT: 1.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="30%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif">1-16349</FONT></P></TD>

   <TD style="PADDING-RIGHT: 1.75pt; PADDING-LEFT: 1.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-RIGHT: 1.75pt; PADDING-LEFT: 1.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="30%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif">04-3284631</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-RIGHT: 1.75pt; PADDING-LEFT: 1.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="30%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif">(State or Other Jurisdiction</FONT></P>

   <P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif">of Incorporation)</FONT></P></TD>

   <TD style="PADDING-RIGHT: 1.75pt; PADDING-LEFT: 1.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-RIGHT: 1.75pt; PADDING-LEFT: 1.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="30%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif">(Commission</FONT></P>

   <P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif">File Number)</FONT></P></TD>

   <TD style="PADDING-RIGHT: 1.75pt; PADDING-LEFT: 1.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-RIGHT: 1.75pt; PADDING-LEFT: 1.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="30%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif">(IRS Employer</FONT></P>

   <P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif">Identification No.)</FONT></P></TD></TR>

<TR height=20>

   <TD vAlign=top width="30%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif"></FONT></P></TD>

   <TD vAlign=top width="5%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif"></FONT></P></TD>

   <TD vAlign=top width="30%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif"></FONT></P></TD>

   <TD vAlign=top width="5%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif"></FONT></P></TD>

   <TD vAlign=top width="30%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif"></FONT></P></TD></TR>

<TR height=20>

   <TD vAlign=top width="30%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif"></FONT></P></TD>

   <TD vAlign=top width="5%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif"></FONT></P></TD>

   <TD vAlign=top width="30%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif"></FONT></P></TD>

   <TD vAlign=top width="5%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif"></FONT></P></TD>

   <TD vAlign=top width="30%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif"></FONT></P></TD></TR>

<TR height=20>

   <TD vAlign=top width="100%" colSpan=5>

   <P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif"></FONT></P>

   <P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif"></FONT></P>

   <P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif"></FONT></P>

   <P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif"></FONT></P><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif">

   <P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif">230 Broadway East</FONT></P>

   <P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif">Lynnfield, MA 01940</FONT></P></FONT></TD></TR>

<TR height=20>

   <TD vAlign=top width="100%" colSpan=5>

   <P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif"></FONT></P>

   <P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif"></FONT></P>

   <P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif"></FONT></P>

   <P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif"></FONT></P><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif">

   <P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif">(Address of Principal Executive Offices) (Zip Code)</FONT></P></FONT></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center>&nbsp;</P>

<DIV align=center><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif"></FONT>&nbsp;</DIV>

<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif">Registrant&#8217;s telephone number, including area code: (800) 949-1422</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif">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): </FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Wingdings color=black>o</FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif" color=black>&nbsp;&nbsp; Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif" color=black></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Wingdings color=black>o</FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif" color=black>&nbsp;&nbsp; Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) </FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif" color=black></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Wingdings color=black>o</FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif" color=black>&nbsp;&nbsp; Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) </FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif" color=black></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Wingdings color=black>o</FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif" color=black>&nbsp;&nbsp; Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) </FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif" color=black></FONT>&nbsp;</P>

<a name="_bclFooter1"></a><DIV>

<P style="MARGIN: 0in 0in 0pt; mso-line-height-rule: exactly"><FONT style="mso-bidi-font-size: 12.0pt"><FONT style="mso-spacerun: yes"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 10pt" face="Times New Roman,serif">&nbsp;&nbsp;</FONT></B></FONT></FONT></P></DIV></DIV>

<HR align=center width="100%" noShade SIZE=2>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_2"></A>

<DIV style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<a name="_bclHeader2"></a><DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman,serif"></FONT>&nbsp;</P></DIV>

<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif">Item&nbsp;2.02.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Results of Operations and Financial Condition</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 18.7pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif">See Item 8.01 below.</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif" color=black></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif">Item&nbsp;8.01.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other Events</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 18.7pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif">In connection with the previously announced offering by certain stockholders of the Company of up to 3,608,820 shares of the Company&#8217;s common stock (the &#8220;Shares&#8221;), Investors Capital Holdings, Ltd. (the &#8220;Company&#8221;) intends to disclose the Company&#8217;s preliminary financial results for the fiscal quarter ended June 30, 2011.&nbsp; Such financial results are included in Exhibit 99.1 herewith.</FONT></P>

<P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 18.7pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 18.7pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif">The information included in this Current Report and in Exhibit 99.1 hereto contains or incorporates by reference statements that constitute &#8220;forward-looking statements&#8221; within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The Company cautions that any forward-looking statements contained or incorporated by reference in this Current Report or made by management of the Company involve risks and uncertainties and are subject to change based on various important factors. &nbsp;When used in this Current Report and in Exhibit 99.1 hereto, the word &#8220;estimates&#8221; and similar expressions are intended to identify forward-looking statements. &nbsp;You are cautioned that any such forward-looking statements involve significant known and unknown risks, uncertainties and other factors that may cause the Company&#8217;s past results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by those forward-looking statements.</FONT></P>

<P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 18.7pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt 63pt; TEXT-INDENT: -63pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif">Item&nbsp;9.01.&nbsp;&nbsp;&nbsp; Financial Statements and Exhibits</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0.05in 0in 0in; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face="Times New Roman,serif">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exhibits.</FONT></P>

<P style="MARGIN: 0in 0.05in 0in 0in; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face="Times New Roman,serif"></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; MARGIN-LEFT: 24.1pt; BORDER-LEFT: medium none; WIDTH: 445.1pt; BORDER-BOTTOM: medium none; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" vAlign=top width="14%">

   <P style="MARGIN: 0in 0.05in 0in 0in; TEXT-INDENT: 0in"><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face="Times New Roman,serif">Number</FONT></P></TD>

   <TD style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="MARGIN: 0in 0.05in 0in 0in; TEXT-INDENT: 0in"><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face="Times New Roman,serif"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" vAlign=top width="81%">

   <P style="MARGIN: 0in 0.05in 0in 0in; TEXT-INDENT: 0in"><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face="Times New Roman,serif">Description</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="14%">

   <P style="MARGIN: 2pt 0.05in 2pt 0in; TEXT-INDENT: 0in"><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face="Times New Roman,serif">99.1</FONT></P></TD>

   <TD style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="5%">

   <P style="MARGIN: 2pt 0.05in 2pt 0in; TEXT-INDENT: 0in"><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face="Times New Roman,serif"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="81%">

   <P style="MARGIN: 2pt 0.05in 2pt 0in; TEXT-INDENT: 0in"><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face="Times New Roman,serif">Disclosure regarding the Company&#8217;s preliminary financial results for the fiscal quarter ended June 30, 2011.</FONT></P></TD></TR></TABLE></DIV>

<a name="_bclFooter2"></a><DIV>

<P style="MARGIN: 0in 0in 0pt; mso-line-height-rule: exactly"><FONT style="mso-bidi-font-size: 12.0pt"><FONT style="mso-spacerun: yes"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 10pt" face="Times New Roman,serif">&nbsp;&nbsp;</FONT></B></FONT></FONT></P></DIV></DIV>

<HR align=center width="100%" noShade SIZE=2>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_3"></A>

<DIV style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">

<a name="_bclHeader3"></a><DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman,serif"></FONT>&nbsp;</P></DIV>

<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif">SIGNATURES</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 18.7pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif">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 thereunto duly authorized.</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt 2.5in"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;</FONT></P>

<DIV align=left>

<TABLE style="MARGIN-LEFT: 205.7pt; WIDTH: 56.18%; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="100%" colSpan=2>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif">Investors Capital Holdings, Ltd.</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="100%" colSpan=2>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif"></FONT>&nbsp;</P>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif"></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif">By:</FONT></P></TD>

   <TD style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" vAlign=top width="93%">

   <P style="MARGIN: 0in 0in 0pt"><I><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif">/s/ Timothy B. Murphy</FONT></I></P></TD></TR>

<TR>

   <TD style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="7%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="93%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman,serif">Timothy B. Murphy, Chief Executive Officer</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt 2.5in"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif">Date: July 27, 2011</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif">EXHIBIT INDEX</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif"></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><U><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif">Exhibit No.</FONT></U><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><U><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif">Description&nbsp;</FONT></U></P>

<P style="MARGIN: 0in 0in 0pt 74.8pt; TEXT-INDENT: -74.8pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt 74.8pt; TEXT-INDENT: -74.8pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif">99.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Disclosure regarding the Company&#8217;s preliminary financial results for the fiscal quarter ended June 30, 2011.</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman,serif"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman,serif"></FONT>&nbsp;</P>

<a name="_bclFooter3"></a><DIV>

<P style="MARGIN: 0in 0in 0pt; mso-line-height-rule: exactly"><FONT style="mso-bidi-font-size: 12.0pt"><FONT style="mso-spacerun: yes"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 10pt" face="Times New Roman,serif">&nbsp;&nbsp;</FONT></B></FONT></FONT></P></DIV></DIV>

<HR align=center width="100%" noShade SIZE=2>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_4"></A>

<DIV style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%;%">

<a name="_bclHeader4"></a><DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman,serif"></FONT>&nbsp;</P></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif">Exhibit 99.1</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman,serif"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif">RECENT DEVELOPMENTS</FONT></P>

<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif">We are currently in the process of finalizing our consolidated financial results for the fiscal quarter ended June 30, 2011, and therefore our actual results for such period are not yet available.&nbsp; We estimate our total consolidated revenues to be in the range of $20.5 million to $21.5 million as compared to $20.9 million for the same period last year.</FONT></P>

<P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif">We currently estimate a net operating loss in the range of $0.70 million to $0.80 million for the fiscal quarter ended June 30, 2011, as compared to a net operating loss of approximately $0.01 million for the year ago fiscal quarter.&nbsp; Factors contributing to the loss include regulatory assessments that exceeded our expectations, material accruals for legal defense and settlement liabilities and professional fees incurred in connection with the announced offering.&nbsp; The above-mentioned accruals were generated largely in connection with legal proceedings that arose in connection with losses in alternative investment vehicles that became financially impaired.</FONT></P>

<P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif">The foregoing information includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.&nbsp; </FONT></P>

<P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif">The preliminary financial data included above have been prepared by us, and our independent registered public accounting firm has not audited, reviewed, compiled or performed any procedures with respect to such information.&nbsp; Our independent registered public accounting firm has not completed its review of our consolidated financial statements for the period ended June 30, 2011.&nbsp; The preliminary financial data included above were based on assumptions, estimates and business decisions that are subject to significant uncertainties and contingencies, many of which are beyond our control.&nbsp; Investors should understand that our actual results may differ materially from our current estimates due to completion of our financial closing procedures, final adjustments and other developments that may arise between now and the time the financial results for our second quarter are finalized.&nbsp; Except as required by law, we do not expect to update these forecasts and estimates to reflect future events prior to the release of our actual results.</FONT></P>

<P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman,serif"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 10pt" face="Times New Roman,serif"></FONT>&nbsp;</P>

<a name="_bclFooter4"></a><DIV>

<P style="MARGIN: 0in 0in 0pt; mso-line-height-rule: exactly"><FONT style="mso-bidi-font-size: 12.0pt"><FONT style="mso-spacerun: yes"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 10pt" face="Times New Roman,serif">&nbsp;&nbsp;</FONT></B></FONT></FONT></P></DIV></DIV>

<HR align=center width="100%" noShade SIZE=2>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

</BODY>

</HTML>
[{"type": "8-K", "sequence": "1", "filename": "eight-k.htm", "description": "8-K", "secsgml_size_bytes": 32346}]
{"company-data": {"conformed-name": "INVESTORS CAPITAL HOLDINGS LTD", "cik": "0001001871", "assigned-sic": "6799", "irs-number": "043284631", "state-of-incorporation": "MA", "fiscal-year-end": "0331"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "333-43664", "film-number": "11989169"}, "business-address": {"street1": "230 BROADWAY EAST", "city": "LYNNFIELD", "state": "MA", "zip": "01940", "phone": "7815938565"}, "mail-address": {"street1": "230 BROADWAY", "city": "LYNNFIELD", "state": "MA", "zip": "01940"}}
eight-k.htm - Generated by SEC Publisher for SEC Filing
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): July 27, 2011
Investors Capital Holdings, Ltd.
(Exact name of registrant as specified in its charter)
Delaware
1-16349
04-3284631
(State or Other Jurisdiction
of Incorporation)
(Commission
File Number)
(IRS Employer
Identification No.)
230 Broadway East
Lynnfield, MA 01940
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (800) 949-1422
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):
o
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 2.02.       Results of Operations and Financial Condition
See Item 8.01 below.
Item 8.01.       Other Events
In connection with the previously announced offering by certain stockholders of the Company of up to 3,608,820 shares of the Company's common stock (the "Shares"), Investors Capital Holdings, Ltd. (the "Company") intends to disclose the Company's preliminary financial results for the fiscal quarter ended June 30, 2011.  Such financial results are included in Exhibit 99.1 herewith.
The information included in this Current Report and in Exhibit 99.1 hereto contains or incorporates by reference statements that constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The Company cautions that any forward-looking statements contained or incorporated by reference in this Current Report or made by management of the Company involve risks and uncertainties and are subject to change based on various important factors.  When used in this Current Report and in Exhibit 99.1 hereto, the word "estimates" and similar expressions are intended to identify forward-looking statements.  You are cautioned that any such forward-looking statements involve significant known and unknown risks, uncertainties and other factors that may cause the Company's past results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by those forward-looking statements.
Item 9.01.    Financial Statements and Exhibits
(d)        Exhibits.
Number
Description
99.1
Disclosure regarding the Company's preliminary financial results for the fiscal quarter ended June 30, 2011.
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 thereunto duly authorized.
Investors Capital Holdings, Ltd.
By:
/s/ Timothy B. Murphy
Timothy B. Murphy, Chief Executive Officer
Date: July 27, 2011
EXHIBIT INDEX
Exhibit No.
Description
99.1                   Disclosure regarding the Company's preliminary financial results for the fiscal quarter ended June 30, 2011.
Exhibit 99.1
RECENT DEVELOPMENTS
We are currently in the process of finalizing our consolidated financial results for the fiscal quarter ended June 30, 2011, and therefore our actual results for such period are not yet available.  We estimate our total consolidated revenues to be in the range of $20.5 million to $21.5 million as compared to $20.9 million for the same period last year.
We currently estimate a net operating loss in the range of $0.70 million to $0.80 million for the fiscal quarter ended June 30, 2011, as compared to a net operating loss of approximately $0.01 million for the year ago fiscal quarter.  Factors contributing to the loss include regulatory assessments that exceeded our expectations, material accruals for legal defense and settlement liabilities and professional fees incurred in connection with the announced offering.  The above-mentioned accruals were generated largely in connection with legal proceedings that arose in connection with losses in alternative investment vehicles that became financially impaired.
The foregoing information includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.
The preliminary financial data included above have been prepared by us, and our independent registered public accounting firm has not audited, reviewed, compiled or performed any procedures with respect to such information.  Our independent registered public accounting firm has not completed its review of our consolidated financial statements for the period ended June 30, 2011.  The preliminary financial data included above were based on assumptions, estimates and business decisions that are subject to significant uncertainties and contingencies, many of which are beyond our control.  Investors should understand that our actual results may differ materially from our current estimates due to completion of our financial closing procedures, final adjustments and other developments that may arise between now and the time the financial results for our second quarter are finalized.  Except as required by law, we do not expect to update these forecasts and estimates to reflect future events prior to the release of our actual results.