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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12b-25
Commission File Number 333-50103
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: March 31, 2000
[ ] 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: ________________________________________
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:
PART I
REGISTRANT INFORMATION
Full name of registrant: Creditrust Corporation
Former name if applicable: Inapplicable
Address of principal executive office: 7000 Security Boulevard
Baltimore, Maryland 21244
PART II
RULE 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.)
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(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
Form 10-K, 20-F, 11-K or Form N-SAR, or portion thereof will be filed
[ ] on or before the 15th 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
The information required by Creditrust Corporation's Quarterly Report on
Form 10-Q for the period ended March 31, 2000 could not be filed within the
prescribed time period because of delays experienced in complying with the
Commission's requirement that interim financial information be reviewed by
independent auditors before the Report may be filed with the Commission.
PART IV
OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification:
Joseph K. Rensin (410) 594-7000
(Name) (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
registration 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.
Creditrust has experienced a significant increase in its revenues; the
increase was offset by increases in its expenses, so that the net income for the
three month period ended March 31, 2000 as compared to the three month period
ended March 31, 1999 did not increase significantly.
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SIGNATURE
The registrant has caused this notification to be signed on its behalf by
the undersigned thereunto duly authorized.
CREDITRUST CORPORATION
Date: May 16, 2000 By: /s/ Joseph K. Rensin
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Joseph K. Rensin
Chairman of the Board and Chief Executive
Officer
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