SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12b-25
Commission File Number 333-3954
NOTIFICATION OF LATE FILING
(Check One): |_| Form 10-K |_| Form 11-K |_| Form 20-F |X| Form 10-Q
|_| Form N-SAR
For Period Ended: June 30, 1999
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|_| Transition Report on Form 10-K |_| Transition Report on Form 10-Q
|_| Transition Report on Form 20-F |_| Transition Report on Form N-SAR
|_| Transition Report on Form 11-K
For the Transition Period Ended:_______________________________________
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Read Instruction (on back page) Before Preparing Form. Please Print or Type.
Nothing in this form shall be construed to imply that the Commission
has verified any information contained herein.
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If the notification relates to a portion of the filing checked above, identify
the Item(s) to which the notification relates:
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PART I
REGISTRANT INFORMATION
IMC Mortgage Company
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Full Name of Registrant, Former Name if Applicable
5901 East Fowler Avenue
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Address of Principal Executive Office (Street and Number)
Tampa, Florida 33617
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City, State and Zip Code
PART II
RULES 12b-25(b) AND (c)
If the subject report could not be filed without reasonable effort or expense
and the registrant seeks relief pursuant to Rule 12b- 25(b), the following
should be completed. (Check appropriate box)
|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.
<PAGE>
PART III
NARRATIVE
State below in reasonable detail the reasons why Form 10-K, 11-K, 20-F,
10-Q, N-SAR, or the transition report or portion thereof, could not be filed
within the prescribed time period. (Attach extra sheets if needed.)
Since June 1999, the Registrant has been involved in the negotiation of
a sale of its mortgage loan servicing and origination business to CitiFinancial
Mortgage Company. An asset purchase agreement was executed on July 13, 1999 and
approved by the Registrant's Board of Directors on July 30, 1999. Following
execution of the asset purchase agreement, the Registrant began preparing a
preliminary proxy statement pursuant to Section 14(a) of the Securities Exchange
Act of 1934, which was filed with the Securities and Exchange Commission on
August 12, 1999. These activities have taken substantial time and resources,
which ordinarily would be used to prepare the Registrant's Quarterly Report on
Form 10-Q for the period ended June 30, 1999, and have caused the Registrant to
be unable to complete this Form 10-Q on or before the date on which it is
required to be filed without unreasonable effort or expense. The Registrant
believes at this time that its Form 10-Q will be filed within the grace period
provided for under Rule 12b-25.
PART IV
OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification
Stuart Marvin (813) 984-2548
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(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 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 report or
portion thereof? |X| 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.
As more fully described in the Registrant's Annual Report on Form
10-K for the fiscal year ended December 31, 1998 and the Quarterly Report on
Form 10-Q for the period ended March 31, 1999, since September 1998, the
Registrant has been materially and adversely affected by significant and adverse
conditions in the equity, debt and asset-backed capital markets. These adverse
conditions have caused the Registrant in the three months ended December 31,
1998 and March 31, 1999 to realize significant net losses. The Registrant
believes that these continuing adverse conditions, among other things, will
result in similar significant net losses for the three months ended June 30,
1999.
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IMC Mortgage Company
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(Name of Registrant as Specified in Charter)
has caused this notification to be signed on its behalf by the undersigned
hereunto duly authorized.
Date August 12, 1999 By: /s/ Stuart Marvin
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Stuart Marvin, Chief Financial Officer
Instruction: The form may be signed by an executive officer of the
registrant or by any other duly authorized representative. The name and title of
the person signing the form shall be typed or printed beneath the signature. If
the statement is signed on behalf of the registrant by an authorized
representative (other than an executive officer), evidence of the
representative's authority to sign on behalf of the registrant shall be filed
with the form.
ATTENTION
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Intentional misstatements or omissions of fact constitute Federal Criminal
Violations (See 18 U.S.C. 1001).
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