U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12B-25
NOTIFICATION OF LATE FILING
(Check One):
() Form 10-K () Form 20-F () Form 11-K (X) Form 10-Q ()Form N-SAR
For Period Ended: March 31, 1996
() 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:
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
Full Name of Registrant: Diversified Corporate Resources, Inc.
Former Name if Applicable: Not Applicable
Address of Principal Executive Office:
Diversified Corporate Resources, Inc.
12801 N. Central Expressway, Suite 350
Dallas, Texas 75243
Commission File Number: 0-13984 IRS Employer ID No.: 75-1565578
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Part II -- Rules 12b-25 (b) and (c)
The subject report could not be filed without unreasonable effort or expense and
the Registrant seeks relief pursuant to Rule 12b-25(b) due to the following.
(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;
Yes (X) No ( )
(b) The subject annual report or transition report of Form 10-K, or
portion thereof will be filed on or before the fifteenth calendar day following
the prescribed due date, or as soon as practicable.
(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 Form 10-K, 20-F, 11-K, 10-Q,
N-SAR, or the transition report or portion thereof could not be filed within the
prescribed period.
The Registrant currently operates two subsidiaries that were formed in previous
years to operate foreclosed upon assets. The financial records of these
subsidiaries have been converted to generally accepted accounting principles
that can be consolidated with the financial statements of the Registrant.
Because of the delay in the filing of Form 10-K for the year ended December 31,
1995, the Registrant was delayed in compiling the necessary information needed
to complete the Form 10-Q on a timely basis. Management is optimistic that the
information will be available in time to file its Form 10-Q by May 20, 1996.
Due to the above, additional time is needed to finalize the Registrant's records
and provide the Securities and Exchange Commission with the required financial
information and relevant disclosures. Therefore, the Registrant respectfully
requests an additional amount of time following the prescribed filing date in
which to file its Form 10-Q for the period ended March 31, 1996.
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Part IV -- Other Information
(1) Name and telephone number of person to contact in regard to this
notification: M. Ted Dillard, Chief Financial Officer, (214) 458-8500.
(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 below, both
narratively and quantitatively, and, if appropriate, state the reasons why a
reasonable estimate of the results cannot be made.
It is anticipated that the effects of the operations of the Company's
subsidiaries that are operating the foreclosed upon assets will have a material
financial impact on the results of operations for the quarter ended March 31,
1996. Although management anticipates improved operating performance over the
corresponding period for the previous year, the Registrant has not concluded
final review and preparation of financial statements necessary for the
completion of the Form 10-Q. Accordingly, this report is filed to request
additional time to obtain final numbers and file the Registrant's Form 10-Q for
the quarter ended March 31, 1996.
Diversified Corporate Resources, Inc., (Registrant), has caused this
notification to be signed on its behalf by the undersigned thereunto duly
authorized.
Date: May 14, 1996 By: /s/ M. Ted Dillard
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M. Ted Dillard, Chief Financial Officer
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.
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