dcap8k033009.htm
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
__________

FORM 8-K


CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934


Date of Report:  March 30, 2009
(Date of earliest event reported)


DCAP GROUP, INC.
(Exact Name of Registrant as Specified in Charter)


Delaware
  
0-1665
  
36-2476480
(State or Other Jurisdiction of Incorporation)
  
(Commission File No.)
  
(IRS Employer Identification Number)

1158 Broadway, Hewlett, NY
    11557
(Address of Principal Executive Offices)
(Zip Code)


Registrant's telephone number, including area code: (516) 374-7600

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

____
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
____
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
____
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
____
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))


 
 
 
 

Item 1.01.  Entry into a Material Definitive Agreement.

On March 30, 2009, an Asset Purchase Agreement was fully executed with regard to the sale of substantially all of the assets of Barry Scott Agency, Inc. (“Barry Scott”) and DCAP Accurate, Inc. (“Accurate”), wholly-owned subsidiaries of DCAP Group, Inc. (the “Company”), to NII BSA LLC.   Barry Scott and Accurate own and operate the Company’s New York stores.  The purchase price for the assets is approximately $2,337,000 plus an additional amount based upon commissions derived from certain stores recently closed by the Company.  There are a number of conditions to the closing of the transaction.
 


 
 
 
 
 
SIGNATURES


Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
 
 
DCAP GROUP, INC.
  
       
Date:  April 3, 2009
By:
/s/ Barry B. Goldstein  
    Barry B. Goldstein  
    President