OMB APPROVAL
OMB NUMBER: 3235-0058
Expires: May 31, 1997
Estimated average burden
hours per response...2.50
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12b-25
NOTIFICATION OF LATE FILING
SEC FILE NUMBER:
0-22321
(Check One):
( ) Form 10-K and Form 10-KSB ( ) Form 20-F ( ) Form 11-K
(X) Form 10-Q and Form 10-QSB ( ) Form N-SAR
CUSIP NUMBER:
963278 10 6
For Period Ended: June 30, 1997
[ ] Transition Report on 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 related to a portion of the filing checked above, identify
the Item(s) to which the notification relates:
PART I - REGISTRANT INFORMATION
Full Name of Registrant
WHEELS SPORTS GROUP, INC.
Former Name if Applicable
Address of Principal Executive Office (Street and Number)
1368 SALISBURY ROAD
City, State and Zip Code
MOCKSVILLE, NORTH CAROLINA 27028
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)
(a) The reasons described in reasonable detail in Part III of this form
could not be eliminated without unreasonable effort or expense;
(b) The subject annual report, semi-annual report, transition report on
(X) Form 10-K, Form 10-KSB, 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 Form 10-QSB, 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 the Forms 10-K and 10-KSB,
20-F, 11-K, 10-Q and 10-QSB, N-SAR or the transition report portion thereof,
could not be filed within the prescribed time period.
The Registrant has effected numerous acquisitions during the first two
quarters of this fiscal year and is required to disclose proforma
financial information within the Form 10-QSB to provide investors with
accurate disclosure of the Company's current position. Accordingly,
preparation of the Form 10-QSB took more time than anticipated.
PART IV - OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification
HOWARD L. CORRELL, JR. 704 634-3000
(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? ( ) Yes (X) 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.
WHEELS SPORTS GROUP, INC.
(Name of Registrant as Specified in Charter)
has caused this notification to be signed on its behalf by the undersigned
hereunto duly authorized.
WHEELS SPORTS GROUP, INC.
DATE August 14, 1997 By: /s/ Howard L. Correll, Jr.
HOWARD L. CORRELL, JR., Chairman of the Board,
Chief Executive Officer and President
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
Intentional misstatements or omissions of fact constitute Federal Criminal
Violations (See 18 U.S.C. 1001).
