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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 12b-25
Commission File Number 001-14509
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NOTIFICATION OF LATE FILING
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<S> <C> <C> <C> <C> <C>
(Check One): [X] Form 10-K [ ] Form 11-K [ ] Form 20-F [ ] Form10-Q [ ] Form N-SAR
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For Period Ended: December 31, 1998
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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 attached instruction sheet 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.
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
Full name of registrant Easyriders, Inc.
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Former name if applicable
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Address of principal executive office (Street and number)
28210 Dorothy Drive
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City, State and Zip Code Agoura Hills, CA 91301
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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 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, 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.
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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 portion thereof could not be filed
within the prescribed time period. (Attach extra sheets if needed.)
Please see attached.
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Part IV. Other Information
(1) Name and telephone number of person to contact in regard to this
notification
J. Robert Fabregas 818 889-8740
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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 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.
Easyriders, Inc.
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(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 30, 1999 By /s/ J. Robert Fabregas
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J. Robert Fabregas
Executive Vice President and
Chief Financial Officer
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PART III - (NARRATIVE)
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The Registrant was formed by Newriders, Inc. ("Newriders") on May 13,
1998 for the purpose of acquiring all of the outstanding common stock of Paisano
Publications, Inc. and its affiliated entities (the "Paisano Companies") and all
of the outstanding membership interests of M&B Restaurants, L.C. ("M&B").
Immediately following Easyriders' acquisition of the Paisano Companies and M&B
on September 23, 1998, Easyriders issued to the shareholders of Newriders one
share of Easyriders common stock, par value $.001 per share, for each two shares
of Newriders common stock held by such shareholders. Simultaneously with this
share exchange, Newriders merged with a subsidiary of Easyriders (the "Merger")
with the result that Newriders became a wholly-owned subsidiary of Easyriders.
All of these events (collectively, the "Reorganization") are described in the
Registrant's Registration Statement on Form S-4 (File Number 333-5850), filed
with the SEC on September 11, 1998.
Because of the Reorganization, the time commitment of senior
management required to successfully integrate the operations of the constituent
corporations into its year end audit has been significant. Due to this reason,
the financial data and information required to be included in the Registrant's
Annual Report on Form 10-K for the period ended December 31, 1998 could not have
been compiled by the Registrant within the prescribed period without
unreasonable effort and expense.
Because the results of operations of the Registrant for the
corresponding period in the prior year do not include the Paisano Companies or
M&B, the results of operations of the Registrant in the current period will show
a significant change on a year to year basis.
The Registrant expects to report that sales increased in 1998 from
$2,932,708 in 1997. Also, the Registrant expects to report an increased net loss
in 1998 as compared to a net loss of $4,776,874 in 1997.
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