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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 12B-25
Commission File Number 0-15501
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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: June 30, 1995
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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:________________________________________________
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 BIKERS DREAM, INC.
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Former name if applicable
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Address of principal executive office (Street and number)
1420 Village Way
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City, State and Zip Code Santa Ana, California 92705
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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 reasonable 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.)
The Company is currently investigating a possible inventory shrinkage
in excess of $100,000 based upon preliminary second quarter results, which
management believes resulted from the implementation during the second quarter
of a cycle count program of the perpetual inventory records at the Company's
Santa Ana, California Superstore. The Company has not experienced inventory
shrinkages of this magnitude in the past and management believes that this
level of inventory shrinkage is not correct due to a suspected flaw in the
cycle count procedures. In order to verify the accuracy of the perpetual
inventory quantities which are used to value the ending inventory as presented
in the balance sheet, management has decided to take a complete physical
inventory of the Santa Ana Superstore as of August 14, 1995, which will be
completed, reviewed and approved by management by August 17, 1995.
PART IV. OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification
William R. Gresher (714) 246-4571
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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 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 expects to report a significant loss for the second quarter
ended June 30, 1995 as compared to a profit for the same period in 1994 as a
result of an increase in start up costs associated with opening of new
Company-owned Superstores, increased legal and accounting fees and costs
associated with a recent reverse acquisition and with being a public company
and the write off of the deferred tax asset.
BIKERS DREAM, 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 August 15, 1995 By: WILLIAM R. GRESHER
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William R. Gresher
Chief Financial Officer
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