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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12B-25
NOTIFICATION OF LATE FILING
Commission File No.
0-8698
(Check One): |X| Form 10-K |_| Form 20-F |_| Form 11-K |_| Form 10-Q
|_| Form N-SAR
For Period Ended: September 30, 1998
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[ ] 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:
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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
Concorde Gaming Corporation
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Full Name of Registrant
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Former Name if Applicable
3290 Lien Street
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Address of Principal Executive Office (Street and Number)
Rapid City, South Dakota 57702
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City, State and Zip Code
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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 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, 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 of 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
State below in reasonable detail the reasons why Forms 10-K, 20-F, 11-K, 10-Q,
N-SAR, or the transition report or portion thereof, could not be filed within
the prescribed time period.
Concorde Gaming Corporation (the "Company") has been involved in the start-up of
a significant off-shore gaming operation that commenced operating subsequent to
September 30, 1998. As a result of the significance of this operation,
additional time is necessary to complete the Registrant's Annual Report on Form
10-KSB for the fiscal year ended September 30, 1998.
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PART IV - OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification
David L. Crabb (605) 341-7738
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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 answer is no, identify report(s). |X| Yes |_| No
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(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.
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Concorde Gaming Corporation
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(Name of Registrant as Specified in Charter)
has caused this notification to be signed on its behalf by the undersigned
hereunto duly authorized.
Date December 30, 1998 By /s/ David L. Crabb
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David L. Crabb, Chief Financial Officer,
Principal Accounting Officer and Treasurer
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PART IV - OTHER INFORMATION
The Company expects significant changes in the results of operations
for the fiscal year ended September 30, 1998 compared to the fiscal
year ended September 30, 1997 due to a change in core operations
including the disposition of the Company's video lottery operations,
the acquisition of a casino operation in the State of Colorado and the
construction of an off-shore gaming vessel and development of an
off-shore gaming operation in Miami, Florida. In addition, there are
changes in the results of operations due to a change in accounting
principle related to accounting for pre-opening and start-up costs.
Anticipated condensed financial information for these years is as
follows:
<TABLE>
<CAPTION>
Twelve Months Twelve Months
Ended Ended
STATEMENTS OF OPERATIONS 9/30/98 9/30/97
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<S> <C> <C>
Revenues 4,226,687 6,675,772
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Operating costs 5,027,128 7,865,803
Pre-opening and start-up costs 1,391,170 0
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6,418,298 7,865,803
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Loss from operations (2,191,611) (1,190,031)
Other income and expense
including income taxes (3,349) 2,120,230
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Income (loss) before cumulative
effect of accounting change (2,194,960) 930,199
Cumulative effect of change in
accounting principle (259,181) 0
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Net income (loss) (2,454,141) 930,199
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Basic and diluted earnings (loss) per share $(0.10) $0.04
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</TABLE>
