UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12B-25
NOTIFICATION OF LATE FILING SEC FILE NUMBER 0-14081
CUSIP NUMBER 999-004-104
Form 10-Q SB
For the quarterly period ended March 31, 1998
Nothing in this form shall be construed to imply that the Commission has
verified any information contained herein.
PART I - REGISTRANT INFORMATION
YADKIN VALLEY COMPANY
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Full Name of Registrant
Not Applicable
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Former Name if Applicable
Post Office Box 1729
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Address of Principal Executive Office (Street and Number)
Raleigh, North Carolina 27602
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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 unreasonable effort or
expense and the Registrant seeks relief pursuant to Rule 12b-25(b), the
following should be completed. (Check box if appropirate)
[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, 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 has been attached if applicable.
PART III - NARRATIVE
State below in reasonable detail the reasons why the Form 10-K, 11-K,
10-Q, N-SAR or the transition report or portion thereof could not be filed
within the prescribed period.
Registrant's Registration Statement on Form 10-SB became effective on June
29, 1998. Registrant has attempted in good faith to prepare and file its
Quarterly Report on Form 10-QSB for the period ended March 31, 1998. However,
not previously having been required to file reports on Form 10-QSB, Registrant
has had difficulty preparing the financial and other information required to be
contained therein. Additionally, a serious illness in the family of Registrant's
President and Treasurer (who is Registrant's only active management official in
a position to derive the financial information from Registrant's records
required for the report) has, since June 29, made it impossible for him to
devote the attention to the report necessary to insure its completion.
Therefore, Registrant is not in a position to file the report in a timely manner
without unreasonable effort or expense.
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PART IV - OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification.
David S. Perry (919) 716-7588
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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 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 report or portion
thereof?
[ ] YES [ X ] NO
If so, attach an explanation of the anticipated change, both narratively
and qualitatively, and, if appropriate, state the reasons why a reasonable
estimate of the results cannot be made.
The Registrant has caused this notification to be signed on its behalf by
the undersigned thereunto duly authorized.
YADKIN VALLEY COMPANY
By /s/ David S. Perry
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David S. Perry
President and Treasurer
Date: August 13, 1998
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