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U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12b-25
NOTIFICATION OF LATE FILING
[X] Form 10-KSB [ ] Form 20-F [ ] Form 11-K [ ] Form 10-QSB
[ ] Form N-SAR
For Fiscal Year Ended: December 31, 1998
[ ] 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: Not applicable
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: Not
applicable
PART I--REGISTRANT INFORMATION
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Full name of Registrant: Unified Financial Services, Inc.
Former Name: Unified Holdings, Inc.
Commission File Number: 0-22629
IRS Employer Identification No.: 43-1797759
429-431 North Pennsylvania Street
Address of Principal Executive Office (Street and Number)
Indianapolis, Indiana 46204-1873
City, State and Zip Code
PART II--RULES 12b-25(b) AND (c)
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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)
The registrant hereby represents that:
[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 report on Form 10-KSB or portion thereof
will be filed on or before the fifteenth calendar day following the
prescribed due date; and
[x] (c) The accountant's statement or other exhibit required by
Rule 12b-25(c) has been attached if applicable.
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PART III--NARRATIVE
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State below in reasonable detail the reasons why Form 10-KSB or portion
thereof could not be filed within the prescribed time period.
On December 17, 1998, Unified Financial Services, Inc. (the "Company")
acquired each of Equity Underwriting Group, Inc. and Commonwealth Premium
Finance Corporation. In addition, the Company acquired Strategic Fund
Services, Inc. and AmeriPrime Financial Services, Inc. on December 22,
1998 and December 31, 1998, respectively. As a result of these
acquisitions, the Company was required to restate its 1996 and 1997
financial statements.
Despite the Company's diligent efforts, completion of the Form 10-KSB has
been delayed due to the substantial amount of time that has been devoted
to the Company's recent acquisitions and the resulting restatement of its
financial statements, as well as the unanticipated difficulties in
incorporating the financial information of the target companies into the
Company's financial statements.
PART IV--OTHER INFORMATION
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(1) Name and telephone number of person to contact in regard to
this notification:
Timothy L. Ashburn (606) 273-9107
(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?
[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.
The Company anticipates that the consolidated statement of income
for the fiscal year ended December 31, 1998 will report net income of
$1,132,781, reflecting an increase of $1,410,714 over the net loss
reported for the fiscal year ended December 31, 1997. The increase in
net income for the fiscal year ended December 31, 1998 is primarily
attributable to the increased revenues associated with increased assets
under management and commissions received in connection with the
Company's private placement of its common stock.
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UNIFIED FINANCIAL SERVICES, 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: March 31, 1999 By: /s/ Timothy L. Ashburn
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Timothy L. Ashburn, Chairman, President and
Chief Executive Officer
