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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">&#160;<a name="fis_top_of_document"/><a name="v022988_8k_txt"/><a name="fis_form"><strong>UNITED
        STATES </strong></a></font></div><a name="fis_form"/>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>SECURITIES
        AND EXCHANGE COMMISSION </strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">WASHINGTON,
        D.C. 20549 </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 14pt; FONT-FAMILY: Times New Roman"><strong>FORM
        8-K </strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>CURRENT
        REPORT </strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>PURSUANT
        TO SECTION 13 OR 15(d) OF THE </strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>SECURITIES
        EXCHANGE ACT OF 1934 </strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date
        of
        Report (date of earliest event reported): November 11, 2005 </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">
          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 14pt; FONT-FAMILY: Times New Roman"><strong>NATIONAL
            INVESTMENT MANAGERS INC.</strong></font></div>
        </div>
      </div><a name="fis_unidentified_table"/>
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        Name of Registrant as Specified in Charter) </font></div>
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            <tr bgcolor="#ffffff">
              <td width="30%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;<font size="2">Florida</font></div>
              </td>
              <td width="5%">&#160;</td>
              <td width="30%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;<font size="2">000-51252</font></div>
              </td>
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                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font size="2">(State
                  of<br>Incorporation)</font></div>
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              <td width="5%">&#160;</td>
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                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;<font size="2">(Commission
                  File Number)</font></div>
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              <td width="5%">&#160;</td>
              <td width="30%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font size="2">(IRS
                  Employer <br></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Identification
                  No.)</font></div>
              </td>
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            <tr bgcolor="#ffffff">
              <td width="30%">&#160;</td>
              <td width="5%">&#160;</td>
              <td width="30%">&#160;</td>
              <td width="5%">&#160;</td>
              <td width="30%">&#160;</td>
            </tr>
            <tr bgcolor="#ffffff">
              <td width="30%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;&#160;<font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">830
                  Third Avenue, 14th Floor <br></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">New
                  York, NY</font></div>
              </td>
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              </td>
              <td width="30%">&#160;</td>
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                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
              </td>
              <td valign="bottom" width="30%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;<font size="2">10022</font></div>
              </td>
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                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;&#160;<font size="2">(Address
                  of principal<br>executive
                  offices)</font></div>
              </td>
              <td width="5%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
              </td>
              <td width="30%">&#160;</td>
              <td valign="top" width="5%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
              </td>
              <td valign="top" width="30%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;&#160;<font size="2">(Zip
                  Code)</font></div>
              </td>
            </tr>
            <tr bgcolor="#ffffff">
              <td width="30%">&#160;</td>
              <td width="5%">&#160;</td>
              <td width="30%">&#160;</td>
              <td valign="top" width="5%">&#160;</td>
              <td valign="top" width="30%">&#160;</td>
            </tr>
            <tr bgcolor="#ffffff">
              <td width="30%">&#160;</td>
              <td width="5%">&#160;</td>
              <td width="30%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;<font size="2">(212)
                  355-1547</font></div>
              </td>
              <td valign="top" width="5%">&#160;</td>
              <td valign="top" width="30%">&#160;</td>
            </tr>
            <tr bgcolor="#ffffff">
              <td width="30%">&#160;</td>
              <td width="5%">&#160;</td>
              <td width="30%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;<font size="2">(Registrant's
                  telephone number, including
                  area code) </font></div>
              </td>
              <td valign="top" width="5%">&#160;</td>
              <td valign="top" width="30%">&#160;</td>
            </tr>

        </table>
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      <div>&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Copies
        to:</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Gregory
        Sichenzia, Esq.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Stephen
        M. Fleming, Esq.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Sichenzia
        Ross Friedman Ference LLP</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">1065
        Avenue of the Americas</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">New
        York,
        New York 10018</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Phone:
        (212) 930-9700</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Fax:
        (212) 930-9725</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Check
        the
        appropriate box below if the Form 8-K is intended to simultaneously satisfy
        the
        filing obligation of the registrant under any of the following provisions:
        </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-FAMILY: Wingdings">o</font>
        Written communications
        pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-FAMILY: Wingdings">o</font>
        Soliciting material
        pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-FAMILY: Wingdings">o</font>
        Pre-commencement
        communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
        240.14d-2(b)) </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-FAMILY: Wingdings">o</font>
        Pre-commencement
        communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
        240.13e-4(c)) </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
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      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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          <div style="WIDTH: 100%; TEXT-ALIGN: center">&#160;</div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
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          </div>
        </div>
        <div id="HDR">
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><a name="fis_entry_material_agreement"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
        1.01 </strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Entry
        into a Material Definitive Agreement </strong></font></a></div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><a name="fis_sale_of_equity"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
        3.02 </strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Unregistered
        Sales of Equity Securities </strong></font></a></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
        November 11, 2005, 12 accredited investors (the &#8220;B Investors&#8221;) purchased an
        aggregate of 850,000 shares of Series B Cumulative Convertible Preferred
        Stock
        (the &#8220;B Preferred Stock&#8221;) at $1.00 per share for an aggregate purchase price of
        $850,000. In addition, also on November 11, 2005, three accredited investors
        (the &#8220;C Investors&#8221;) purchased an aggregate of 833,334 shares of Series C
        Cumulative Convertible Preferred Stock (the &#8220;C Preferred Stock&#8221;) at $6.00 per
        share for an aggregate purchase price of $5,300,004. To date, National
        Investment Managers, Inc. (the &#8220;Company&#8221;) has raised an aggregate of $9,115,004
        in connection with the sale of its B Preferred Stock that closed on October
        18,
        2005 and the sale of the B Preferred Stock and C Preferred Stock on November
        11,
        2005 The funds raised will be utilized by the Company for working capital
        and
        acquisitions. </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Series
        B Private Placement</u></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Each
        share of B Preferred Stock is convertible, at any time at the option of the
        holder, into two shares of common stock of the Company (&#8220;Common Stock&#8221;). The B
        Preferred Stock will be automatically converted into Common Stock upon
        (i)&#160;the approval of the holders of a majority of the then outstanding
        B
        Preferred Stock or (ii)&#160;the closing of a firm commitment underwritten
        public offering of the Company&#8217;s securities in which the aggregate gross
        proceeds to the Company are not less than $10,000,000 at a price equal to
        or
        higher than $2.00 per share of common stock.&#160; Holders of the B Preferred
        Stock are entitled to receive, when declared by the Company&#8217;s board of
        directors, annual dividends of $0.12 per share of B Preferred Stock paid
        on a
        semi-annually. Such dividends may be paid, at the election of the Company,
        either (i) in cash, (ii) in registered common stock of the Company or (iii)
        in
        restricted shares of common stock of the Company with piggyback registration
        rights. In the event that the Company elects to issue shares of common stock
        in
        connection with the dividend on the B Preferred Stock, such dividend shares
        shall be determined by dividing the dividend amount by 98% of the
        volume-weighted average price of the common stock for the 20 trading days
        immediately preceding the record date for payment of such dividend (the
&#8220;Dividend VWAP&#8221;); provided, however, if the Company unable to determine the
        Dividend VWAP, then such dividend shall be determined by dividing the dividend
        amount by the average of the three highest closing bid prices during the
        20
        trading days immediately preceding the record date for payment of such dividend.
        The Company granted the B Investors piggyback registration rights. </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
        addition to any voting rights provided by law, holders of the B Preferred
        Stock
        will have the right to vote together with holders of Common Stock, the Series
        A
        Preferred Stock and the C Preferred Stock as a single class on all matters
        upon
        which stockholders are entitled to vote, including election of the members
        of
        the Company&#8217;s Board of Directors. Each share of B Preferred Stock will have the
        number of votes corresponding to the number of shares of Common Stock into
        which
        the B Preferred Stock may be converted on the record date for determining
        stockholders entitled to vote.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
        the
        event of any liquidation or winding up of the Company, the holders of B
        Preferred Stock will be entitled to receive, in preference to holders of
        Common
        Stock but subject to preferential liquidation rights of Series A Convertible
        B
        Preferred Stock, an amount equal to two times the original purchase price
        per
        share, plus any previously declared and unpaid dividends.&#160;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>Series
        C Private Placement</u></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Each
        share of C Preferred Stock is convertible, at any time at the option of the
        holder, into 12 shares of Common Stock. The C Preferred Stock will be
        automatically converted into Common Stock upon (i)&#160;the approval of
        the
        holders of a majority of the then outstanding C Preferred Stock or (ii)&#160;the
        closing of a firm commitment underwritten public offering of the Company&#8217;s
        securities in which the aggregate gross proceeds to the Company are not less
        than $10,000,000 at a price equal to or higher than $2.00 per share of common
        stock.&#160; Holders of the C Preferred Stock are entitled to receive,
        when
        declared by the Company&#8217;s board of directors, annual dividends of $0.72 per
        share of C Preferred Stock paid on a semi-annually. Such dividends may be
        paid,
        at the election of the Company, either (i) in cash, (ii) in registered common
        stock of the Company or (iii) in restricted shares of common stock of the
        Company with piggyback registration rights. In the event that the Company
        elects
        to issue shares of common stock in connection with the dividend on the C
        Preferred Stock, such dividend shares shall be determined by dividing the
        dividend amount by the Dividend VWAP; provided, however, if the Company is
        unable to determine the Dividend VWAP, then such dividend shall be determined
        by
        dividing the dividend amount by the average of the three highest closing
        bid
        prices during the 20 trading days immediately preceding the record date for
        payment of such dividend. The Company granted the C Investors piggyback
        registration rights and has agreed to file a registration statement registering
        the shares of common stock issuable upon conversion of the C Preferred Stock
        within 60 days of closing and have such registration statement declared
        effective within 120 days of filing. </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
        addition to any voting rights provided by law, holders of the C Preferred
        Stock
        will have the right to vote together with holders of Common Stock and the
        Series
        A and B Preferred Stock as a single class on all matters upon which stockholders
        are entitled to vote, including election of the members of the Company&#8217;s Board
        of Directors. Each share of C Preferred Stock will have the number of votes
        corresponding to the number of shares of Common Stock into which the C Preferred
        Stock may be converted on the record date for determining stockholders entitled
        to vote.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">&#160;</div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">2</font></div>
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          </div>
        </div>
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        </div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
        the
        event of any liquidation or winding up of the Company, the holders of C
        Preferred Stock will be entitled to receive, in preference to holders of
        Common
        Stock but subject to preferential liquidation rights of Series A Convertible
        Preferred Stock and the B Preferred Stock, an amount equal to two times the
        original purchase price per share, plus any previously declared and unpaid
        dividends.&#160;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        B
        Investors and C Investors have contractually agreed to restrict their ability
        to
        convert the preferred stock and receive shares of Common Stock such that
        the
        number of shares of Common Stock held by them and their affiliates after
        such
        conversion or exercise does not exceed 4.99% of the Company&#8217;s then issued and
        outstanding shares of Common Stock.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        shares of B Preferred Stock and C Preferred Stock were offered and sold to
        the B
        Investors and C Investors in private placement transactions made in reliance
        upon exemptions from registration pursuant to Section 4(2) under the Securities
        Act of 1933 and Rule 506 promulgated thereunder. Each of the B Investors
        and C
        Investors are accredited investors as defined in Rule 501 of Regulation D
        promulgated under the Securities Act of 1933.</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><a name="fis_financial_statements_and_exhibits"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
        9.01 Financial Statements and Exhibits. </strong></font></a></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(a)
        Financial statements of business acquired. </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Not
        applicable</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(b)
        Pro
        forma financial information. </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Not
        applicable</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(c)
        Index
        of Exhibits. </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br>&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
        <div>
          <table cellpadding="0" cellspacing="0" width="100%">

              <tr bgcolor="#ffffff">
                <td align="left" valign="bottom" width="6%" style="BORDER-BOTTOM: black thin solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Exhibit</font></div>
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Number</font></div>
                </td>
                <td align="left" valign="bottom" width="2%">&#160;</td>
                <td align="left" valign="bottom" width="88%" style="BORDER-BOTTOM: black thin solid">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Description</font></div>
                </td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="bottom" width="6%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">3.1</font></div>
                </td>
                <td align="left" valign="bottom" width="2%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;</font></div>
                </td>
                <td align="left" valign="bottom" width="88%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Certificate
                    of Designation of Preferences, Rights and Limitations of Series
                    B
                    Cumulative Convertible Preferred Stock (1)</font></div>
                </td>
              </tr>
              <tr bgcolor="#ffffff">
                <td align="left" valign="bottom" width="6%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">3.2</font></div>
                </td>
                <td align="left" valign="bottom" width="2%">&#160;</td>
                <td align="left" valign="bottom" width="88%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Certificate
                    of Designation of Preferences, Rights and Limitations of Series
                    C
                    Cumulative Convertible Preferred Stock</font></div>
                </td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="bottom" width="6%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">4.1</font></div>
                </td>
                <td align="left" valign="bottom" width="2%">&#160;</td>
                <td align="left" valign="bottom" width="88%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Form
                    of Subscription Agreement for Series B Cumulative Convertible
                    Preferred
                    Stock (1)</font></div>
                </td>
              </tr>
              <tr bgcolor="#ffffff">
                <td align="left" valign="bottom" width="6%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">4.2</font></div>
                </td>
                <td align="left" valign="bottom" width="2%">&#160;</td>
                <td align="left" valign="bottom" width="88%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Form
                    of Subscription Agreement for Series C Cumulative Convertible
                    Preferred
                    Stock</font></div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">________________________________________</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(1)
        Incorporated by reference to the Form 8-K Current Report filed with the
        Securities and Exchange Commission on October 20, 2005</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><a name="fis_unidentified_table_2">&#160;</a></div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">&#160;</div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">3</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">&#160;</div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><a name="fis_signatures"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>SIGNATURES
        </strong></font></a></div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">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></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">
        <table align="center" bgcolor="#ffffff" border="0" cellpadding="0" cellspacing="0" width="100%">

            <tr valign="top" bgcolor="#ffffff">
              <td width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
              <td width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
              <td width="49%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
            </tr>
            <tr valign="top" bgcolor="#ffffff">
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
              <td colspan="2"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>NATIONAL
                INVESTMENT MANAGERS INC. </strong></font></td>
            </tr>
            <tr valign="top" bgcolor="#ffffff">
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;<br>&#160;</font></td>
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;<br>&#160;</font></td>
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;<br>&#160;</font></td>
            </tr>
            <tr valign="top" bgcolor="#ffffff">
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date:&#160;November
                14, 2005</font></td>
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">By:&#160;&#160;</font></td>
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">/s/&#160;Richard
                Stierwalt</font></td>
            </tr>
            <tr valign="top" bgcolor="#ffffff">
              <td colspan="2"><font style="FONT-FAMILY: Times New Roman" size="1">&#160;</font></td>
              <td align="left">
                <hr style="COLOR: #000000" align="left" noshade size="2" width="80%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Richard
                  Stierwalt</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">President
                  and Chief Executive Officer</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">4</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">
        <div>
          <hr style="COLOR: #000000" align="center" noshade size="2" width="100%">
        </div>
      </div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div>&#160;</div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">&#160;</div>
        <div id="HDR">&#160;</div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
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{"company-data": {"conformed-name": "National Investment Managers Inc.", "cik": "0000770461", "assigned-sic": "6282", "irs-number": "592091510", "state-of-incorporation": "FL", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-51252", "film-number": "051200025"}, "business-address": {"street1": "830 THIRD AVENUE, 14TH FLOOR", "city": "NEW YORK", "state": "NY", "zip": "10022", "phone": "212-355-1547"}, "mail-address": {"street1": "830 THIRD AVENUE, 14TH FLOOR", "city": "NEW YORK", "state": "NY", "zip": "10022"}, "former-company": {"former-conformed-name": "FAST EDDIE RACING STABLES INC", "date-changed": "19960820"}}
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): November 11, 2005
NATIONAL
            INVESTMENT MANAGERS INC.
(Exact
        Name of Registrant as Specified in Charter)
Florida
000-51252
59-2091510
(State
                  of
Incorporation)
(Commission
                  File Number)
(IRS
                  Employer
Identification
                  No.)
830
                  Third Avenue, 14th Floor
New
                  York, NY
10022
(Address
                  of principal
executive
                  offices)
(Zip
                  Code)
(212)
                  355-1547
(Registrant's
                  telephone number, including
                  area code)
Copies
        to:
Gregory
        Sichenzia, Esq.
Stephen
        M. Fleming, Esq.
Sichenzia
        Ross Friedman Ference LLP
1065
        Avenue of the Americas
New
        York,
        New York 10018
Phone:
        (212) 930-9700
Fax:
        (212) 930-9725
Check
        the
        appropriate box below if the Form 8-K is intended to simultaneously satisfy
        the
        filing obligation of the registrant under any of the following provisions:
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
        1.01
Entry
        into a Material Definitive Agreement
Item
        3.02
Unregistered
        Sales of Equity Securities
On
        November 11, 2005, 12 accredited investors (the "B Investors") purchased an
        aggregate of 850,000 shares of Series B Cumulative Convertible Preferred
        Stock
        (the "B Preferred Stock") at $1.00 per share for an aggregate purchase price of
        $850,000. In addition, also on November 11, 2005, three accredited investors
        (the "C Investors") purchased an aggregate of 833,334 shares of Series C
        Cumulative Convertible Preferred Stock (the "C Preferred Stock") at $6.00 per
        share for an aggregate purchase price of $5,300,004. To date, National
        Investment Managers, Inc. (the "Company") has raised an aggregate of $9,115,004
        in connection with the sale of its B Preferred Stock that closed on October
        18,
        2005 and the sale of the B Preferred Stock and C Preferred Stock on November
        11,
        2005 The funds raised will be utilized by the Company for working capital
        and
        acquisitions.
Series
        B Private Placement
Each
        share of B Preferred Stock is convertible, at any time at the option of the
        holder, into two shares of common stock of the Company ("Common Stock"). The B
        Preferred Stock will be automatically converted into Common Stock upon
        (i) the approval of the holders of a majority of the then outstanding
        B
        Preferred Stock or (ii) the closing of a firm commitment underwritten
        public offering of the Company's securities in which the aggregate gross
        proceeds to the Company are not less than $10,000,000 at a price equal to
        or
        higher than $2.00 per share of common stock.  Holders of the B Preferred
        Stock are entitled to receive, when declared by the Company's board of
        directors, annual dividends of $0.12 per share of B Preferred Stock paid
        on a
        semi-annually. Such dividends may be paid, at the election of the Company,
        either (i) in cash, (ii) in registered common stock of the Company or (iii)
        in
        restricted shares of common stock of the Company with piggyback registration
        rights. In the event that the Company elects to issue shares of common stock
        in
        connection with the dividend on the B Preferred Stock, such dividend shares
        shall be determined by dividing the dividend amount by 98% of the
        volume-weighted average price of the common stock for the 20 trading days
        immediately preceding the record date for payment of such dividend (the
"Dividend VWAP"); provided, however, if the Company unable to determine the
        Dividend VWAP, then such dividend shall be determined by dividing the dividend
        amount by the average of the three highest closing bid prices during the
        20
        trading days immediately preceding the record date for payment of such dividend.
        The Company granted the B Investors piggyback registration rights.
In
        addition to any voting rights provided by law, holders of the B Preferred
        Stock
        will have the right to vote together with holders of Common Stock, the Series
        A
        Preferred Stock and the C Preferred Stock as a single class on all matters
        upon
        which stockholders are entitled to vote, including election of the members
        of
        the Company's Board of Directors. Each share of B Preferred Stock will have the
        number of votes corresponding to the number of shares of Common Stock into
        which
        the B Preferred Stock may be converted on the record date for determining
        stockholders entitled to vote.
In
        the
        event of any liquidation or winding up of the Company, the holders of B
        Preferred Stock will be entitled to receive, in preference to holders of
        Common
        Stock but subject to preferential liquidation rights of Series A Convertible
        B
        Preferred Stock, an amount equal to two times the original purchase price
        per
        share, plus any previously declared and unpaid dividends.
Series
        C Private Placement
Each
        share of C Preferred Stock is convertible, at any time at the option of the
        holder, into 12 shares of Common Stock. The C Preferred Stock will be
        automatically converted into Common Stock upon (i) the approval of
        the
        holders of a majority of the then outstanding C Preferred Stock or (ii) the
        closing of a firm commitment underwritten public offering of the Company's
        securities in which the aggregate gross proceeds to the Company are not less
        than $10,000,000 at a price equal to or higher than $2.00 per share of common
        stock.  Holders of the C Preferred Stock are entitled to receive,
        when
        declared by the Company's board of directors, annual dividends of $0.72 per
        share of C Preferred Stock paid on a semi-annually. Such dividends may be
        paid,
        at the election of the Company, either (i) in cash, (ii) in registered common
        stock of the Company or (iii) in restricted shares of common stock of the
        Company with piggyback registration rights. In the event that the Company
        elects
        to issue shares of common stock in connection with the dividend on the C
        Preferred Stock, such dividend shares shall be determined by dividing the
        dividend amount by the Dividend VWAP; provided, however, if the Company is
        unable to determine the Dividend VWAP, then such dividend shall be determined
        by
        dividing the dividend amount by the average of the three highest closing
        bid
        prices during the 20 trading days immediately preceding the record date for
        payment of such dividend. The Company granted the C Investors piggyback
        registration rights and has agreed to file a registration statement registering
        the shares of common stock issuable upon conversion of the C Preferred Stock
        within 60 days of closing and have such registration statement declared
        effective within 120 days of filing.
In
        addition to any voting rights provided by law, holders of the C Preferred
        Stock
        will have the right to vote together with holders of Common Stock and the
        Series
        A and B Preferred Stock as a single class on all matters upon which stockholders
        are entitled to vote, including election of the members of the Company's Board
        of Directors. Each share of C Preferred Stock will have the number of votes
        corresponding to the number of shares of Common Stock into which the C Preferred
        Stock may be converted on the record date for determining stockholders entitled
        to vote.
2
In
        the
        event of any liquidation or winding up of the Company, the holders of C
        Preferred Stock will be entitled to receive, in preference to holders of
        Common
        Stock but subject to preferential liquidation rights of Series A Convertible
        Preferred Stock and the B Preferred Stock, an amount equal to two times the
        original purchase price per share, plus any previously declared and unpaid
        dividends.
The
        B
        Investors and C Investors have contractually agreed to restrict their ability
        to
        convert the preferred stock and receive shares of Common Stock such that
        the
        number of shares of Common Stock held by them and their affiliates after
        such
        conversion or exercise does not exceed 4.99% of the Company's then issued and
        outstanding shares of Common Stock.
The
        shares of B Preferred Stock and C Preferred Stock were offered and sold to
        the B
        Investors and C Investors in private placement transactions made in reliance
        upon exemptions from registration pursuant to Section 4(2) under the Securities
        Act of 1933 and Rule 506 promulgated thereunder. Each of the B Investors
        and C
        Investors are accredited investors as defined in Rule 501 of Regulation D
        promulgated under the Securities Act of 1933.
Item
        9.01 Financial Statements and Exhibits.
(a)
        Financial statements of business acquired.
Not
        applicable
(b)
        Pro
        forma financial information.
Not
        applicable
(c)
        Index
        of Exhibits.
Exhibit
Number
Description
3.1
Certificate
                    of Designation of Preferences, Rights and Limitations of Series
                    B
                    Cumulative Convertible Preferred Stock (1)
3.2
Certificate
                    of Designation of Preferences, Rights and Limitations of Series
                    C
                    Cumulative Convertible Preferred Stock
4.1
Form
                    of Subscription Agreement for Series B Cumulative Convertible
                    Preferred
                    Stock (1)
4.2
Form
                    of Subscription Agreement for Series C Cumulative Convertible
                    Preferred
                    Stock
________________________________________
(1)
        Incorporated by reference to the Form 8-K Current Report filed with the
        Securities and Exchange Commission on October 20, 2005
3
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.
NATIONAL
                INVESTMENT MANAGERS INC.
Date: November
                14, 2005
By:
/s/ Richard
                Stierwalt
Richard
                  Stierwalt
President
                  and Chief Executive Officer
4