UNITED STATES
SECURITIES AND EXCHANGE COMMISSION Sec File Number 0-28152
Cusip Number 00826M103
WASHINGTON, DC 20549
FORM 12b-25
NOTIFICATION OF LATE FILING
[ ] Form 10-K and Form 10-KSB [ ] Form 20-F [ ] Form 11-K [X] Form 10-Q
and Form 10-QSB [ ] Form N-SAR
For Period Ended: March 31, 2000
[ ] Transition Report on Form 10-K
[ ] Transition Report on Form 20-F
[ ] Transition Report on Form 11-K
[ ] Transition Report on Form 10-Q
[ ] Transition Report on Form N-SAR
For the Transition Period Ended: _______________
Nothing in this form shall be construed to imply that the Commission
has verified any information contained herein.
If the notification relates to a portion of the filing checked above,
identify the Item(s) to which the notification relates: This notification
relates to the infomation required by Part I, Items 1, 2, and 3, of Form 10-Q.
Part I - Registrant Information
AFFINITY TECHNOLOGY GROUP, INC
Full Name of Registrant
NOT APPLICABLE
Former Name if Applicable
1201 MAIN STREET, SUITE 2080
Address of Principal Executive Office (Street and Number)
COLUMBIA, SOUTH CAROLINA 29201
City, State and Zip Code
Part II - Rules 12b-25(b) and (c)
If the subject report could not be filed without unreasonable effort or expense
and the registrant seeks relief pursuant to Rule 12b-25(b), the following should
be completed. (Check box if appropriate)
[X] (a) The reasons described in reasonable detail in Part III of this form
could not be eliminated without unreasonable effort or expense;
[X] (b) The subject annual report, semi-annual report, transition report on
Form 10-K, Form 20-F, 11-K or Form N-SAR, or portion thereof, will be
filed on or before the fifteenth calendar day following the prescribed
due date; or the subject quarterly report or transition report on Form
10-Q, or portion thereof, will be filed on or before the fifth calendar
day following the prescribed due date; and
[ ] (c) The accountant's statement or other exhibit required by Rule 12b-25(c)
has been attached if applicable.
Part III - Narrative
State below in reasonable detail the reasons why Form 10-K and Form 10-KSB,
20-F, 11-K, 10-Q and Form 10-QSB, N-SAR, or the transition report or portion
thereof, could not be filed within the prescribed period.
On May 12, 2000 and in connection with conversations between the Registrant and
its independent auditors, Ernst & Young, LLP, the Registrant became aware of an
issue that may affect its accounting for compensation expense associated with
its stock option plans.
Such issue could not be resolved prior to the prescribed date for the filing of
the Registrant's 10-Q for the quarter ended March 31, 2000.
Resolution of such issue may affect the Registrant's financial results for the
quarter ended March 31, 2000 and, possibly, periods prior thereto.
The Registrant currently is unable to quantify the impact, if any, on financial
results.
Part IV - Other Information
(1) Name and telephone number of person to contact in regard to this notifica-
tion:
Joseph A.Boyle (803) 758-2528
(Name) (Area Code) (Telephone Number)
(2) Have all other periodic reports required under section 13 or 15(d)of the
Securities Exchange Act of 1934 or section 30 of the Investment Company Act of
1940 during the preceding 12 months or for such shorter period that the
registrant was required to file such report(s) been filed? If the answer is no,
identify report(s).
[X] Yes [ ] No
(3) Is it anticipated that any significant change in results of
operations from the corresponding period for the last fiscal year will be
reflected by the earnings statements to be included in the subject portion
thereof?
SEE NARRATIVE IN PART III ABOVE.
[ ] Yes [ ] No
If so: attach an explanation of the anticipated change, both
narratively and quantitatively, and, if appropriate, state the reasons why a
reasonable estimate of the results cannot be made.
AFFINITY TECHNOLOGY GROUP, INC.
(Name of Registrant as specified in charter)
Has caused this notification to be signed on its behalf by the undersigned
thereunto duly authorized.
Date: May 16, 2000
By: /s/ Joseph A. Boyle
Joseph A. Boyle
Chief Financial Officer
