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: January 29, 2003
(Date of earliest event reported)
DCAP GROUP, INC.
(Exact name of Registrant as specified in charter)
Delaware 0-1665 36-2476480
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(State or other (Commission File No.) (IRS Employer Identification
jurisdiction incorporation) Number)
1158 Broadway, Hewlett, New York 11557
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (516) 374-7600
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Item 2. Acquisition or Disposition of Assets.
On January 29, 2003, IAH, Inc., a wholly-owned subsidiary of DCAP Group,
Inc., entered into a settlement agreement with the Ports Authority of Puerto
Rico. The agreement settled IAH's action against the Ports Authority concerning
the term of the lease granted by the Ports Authority to IAH to operate the
International Airport Hotel in San Juan, Puerto Rico. Pursuant to the settlement
agreement, in consideration for IAH's agreement to release all rights with
respect to the lease and to vacate the premises, the Ports Authority paid to IAH
the sum of $500,000.
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.
Dated: February 10, 2003 By: /s/ Barry Goldstein
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Barry Goldstein
Chief Executive Officer