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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0001021771-03-000142.txt : 20030807
<SEC-HEADER>0001021771-03-000142.hdr.sgml : 20030807
<ACCEPTANCE-DATETIME>20030807155955
ACCESSION NUMBER:		0001021771-03-000142
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20030807
ITEM INFORMATION:		
ITEM INFORMATION:		Financial statements and exhibits
FILED AS OF DATE:		20030807

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DCAP GROUP INC/
		CENTRAL INDEX KEY:			0000033992
		STANDARD INDUSTRIAL CLASSIFICATION:	HOTELS & MOTELS [7011]
		IRS NUMBER:				362476480
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-01665
		FILM NUMBER:		03828607

	BUSINESS ADDRESS:	
		STREET 1:		90 MERRICK AVE
		STREET 2:		9TH FLOOR
		CITY:			EAST MEADOW
		STATE:			NY
		ZIP:			11554
		BUSINESS PHONE:		5167946300

	MAIL ADDRESS:	
		STREET 1:		90 MERRICK AVE 9TH FLOOR
		STREET 2:		90 MERRICK AVE 9TH FLOOR
		CITY:			EAST MEADOW
		STATE:			NY
		ZIP:			11554

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	EXTECH CORP
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	EXECUTIVE HOUSE INC
		DATE OF NAME CHANGE:	19911119
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>k080703.txt
<DESCRIPTION>FORM 8-K DATED AUGUST 7, 2003
<TEXT>

                                  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: August 7, 2003
                        (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   (Commission File No.)  (IRS Employer
incorporation)                                        Identification Number)


                     1158 Broadway, Hewlett, New York 11557
                     --------------------------------------
              (Address of principal executive offices) (Zip Code)


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










<PAGE>



Item 7.   Financial Statements, Pro Forma Financial Information and Exhibits.

(c)       Exhibits

          99.1 Press Release, dated August 6, 2003, issued by DCAP Group, Inc.


Item 12.  Results of Operations and Financial Condition.

          This  information  shall not be deemed "filed" for purposes of Section
18 of the Securities  Exchange Act of 1934, as amended (the "Exchange  Act"), or
incorporated  by reference in any filing under the  Securities  Act of 1933,  as
amended or the Exchange Act,  except as shall be expressly set forth by specific
reference in such filing.

          On August 7, 2003,  DCAP Group,  Inc.  ("DCAP") issued a press release
announcing  its financial  results for the fiscal quarter ended June 30, 2003. A
copy of this press release is furnished as Exhibit 99.1 to this Report.





<PAGE>


                                   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: August 7, 2003                       By: /s/ Barry Goldstein
                                               -----------------------------
                                               Barry Goldstein
                                               Chief Executive Officer






</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>3
<FILENAME>pressrel.txt
<DESCRIPTION>EX - 99.1 PRESS RELEASE
<TEXT>

               DCAP Group, Inc. Reports 436% Increase in Operating
                               Earnings over 2002
                   Second Quarter Operating Income of $329,578

Hewlett,  NY--August 7, 2003 - DCAP Group,  Inc. (OTC BB: DCAP.OB),  the largest
chain of storefront  insurance  agencies in the  Northeast,  today  reported its
results for the second quarter of fiscal 2003.

Company highlights for the second quarter include:

     o    Second quarter revenue of $1,904,042 versus $592,141 one year ago,
     o    Operating income for the second quarter of $329,578 versus $61,441 one
          year ago,
     o    Insurance  segment  profit for the six months  ended June 30,  2003 at
          $626,487 versus a loss of $41,120 for the six-month  period ended June
          30, 2002,
     o    Premium  Finance  segment  profit of $525,266 for the six months ended
          June 30, 2003 versus $304,984 for the six-month  period ended June 30,
          2002.

The  Company  reported  second  quarter  2003 net income of $307,898 or $.02 per
diluted  share  compared to second  quarter 2002 earnings of $58,969 or $.01 per
diluted  share.   (The  results  from  2002  include  income  from  discontinued
operations of $12,669).

"We are pleased to report an increase to our  earnings of over 400%," said Barry
B. Goldstein,  Chairman and Chief Executive Officer. "Our strategic acquisitions
of the Barry Scott  Agencies and Atlantic  Insurance  Agency have  increased our
geographic distribution and allowed us to grow our revenue base."

On July 14, 2003 DCAP ceased doing premium finance business with Flatiron Credit
Company,   Inc.  Now  utilizing   the  $18  million   credit  line  supplied  by
Manufacturers  and  Traders  Trust  Company  along with the  proceeds  of a $3.5
million  private  placement of subordinated  debt,  Payments Inc., the Company's
wholly owned premium  finance  subsidiary,  now acts as a true  principal in the
premium finance business.

"Prior to July 14, 2003 we received a fee, and  recorded our revenue  during the
month in which a loan was  originated.  Essentially,  we were a loan  broker  to
Flatiron.  The fee  received  was  approximately  1.4% of the  loan  amount.  We
recorded no other revenue from those loans,  took no risk on such loans,  and we
were not responsible for the servicing of the portfolio," Goldstein stated.

"Going forward we will record these loans on our balance  sheet,  will recognize
interest  income over the period of time the loan is  outstanding,  and will now
receive the loan fees and late  charges.  We will also  recognize  financing and
servicing expenses, where in the past we had none. Since the Flatiron payment we
received  was greater  than the first few months'  interest due on the loan less
operating  expenses,  we will  experience  a decline in premium  finance  income
during the third and fourth quarters of 2003. However, at

<PAGE>

current  origination  levels,  our overall premium finance revenue going forward
will be higher, and this will manifest itself through a growing balance sheet as
our loan portfolio builds to what we anticipate to be $23-25 million by year-end
2003," Goldstein stated.

- --------------------------------------------------------------------------------


About DCAP Group:

DCAP Group,  Inc.  is the  largest  chain of  independent  storefront  insurance
agencies in the  Northeast.  DCAP is focused on  building  the  business  into a
community-based,  vertically  integrated one-stop financial services center. The
Company offers several  services to its retail customers at the most competitive
rates with a complete  portfolio of insurance and related products and services,
including premium financing. DCAP currently provides car, motorcycle, homeowner,
business  and life  insurance  products  from a number  of major  carriers.  The
Company also offers tax return preparation  services.  The Company's  storefront
agencies are located  throughout the New York City metropolitan area and upstate
New  York  as  well as in New  Jersey  and  Pennsylvania.  More  information  is
available at the Company's website at www.dcapgroup.com.

Forward Looking Statements:  Statements in this press release, other than purely
historical information, including those contained in the comments above by Barry
B.  Goldstein  and  the  comments  regarding  the  Company's  future  plans  and
objectives and expected  operating  results,  and statements of the  assumptions
underlying such statements,  constitute  forward-looking  statements  within the
meaning  of  Section  21E  of  the   Securities   Exchange  Act  of  1934.   The
forward-looking  statements  contained  herein are based on certain  assumptions
that may not be correct.  They are subject to all of the risks and uncertainties
incident  to the  Company's  business  that are  described  in the  reports  and
statements  filed by the Company with the  Securities  and Exchange  Commission,
including (among others) those listed in the Company's Form 10-KSB.


Barry B. Goldstein
Chairman and CEO
DCAP Group, Inc.
1158 Broadway
Hewlett, NY  11557
(516) 374-7600
(516) 295-7216 (Fax)

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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