UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SEC FILE NUMBER
0-16819
FORM 12b-25
CUSIP NUMBER
635182 207
NOTIFICATION OF LATE FILING
(Check One): [ ]Form 10-KSB [ ]Form 20-F [ ]Form 11-K [X]Form 10-QSB
[ ]Form N-SAR
For Period Ended: September 30, 1995
[ ]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:___________________
PART I - REGISTRANT INFORMATION
NATIONAL CAPITAL MANAGEMENT CORPORATION
Full Name of Registrant
Former Name if Applicable
50 California Street
Address of Principal Executive Office (Street and Number)
San Francisco, CA 94111
City, State and Zip Code
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 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;
[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.
<PAGE>
PART III - NARRATIVE
State below in reasonable detail the reason 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 time period.
The Registrant has a limited number of staff involved in financial
management and reporting. This, combined with the sale of Jensen
Corporation on November 10, 1995 and other operations, has resulted in a
significant number of financial transactions and delay in preparing the
Quarterly Report.
PART IV - OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification:
Herbert J. Jaffe (415) 989-2661
(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.
NATIONAL CAPITAL MANAGEMENT CORPORATION
(Name of Registrant as Specified in Charter)
has caused this notification to be signed on its behalf by the undersigned
thereunto duly authorized.
Date: November 10, 1995 By:/s/Herbert J. Jaffe
Herbert J. Jaffe, President
<PAGE>
Attachment IV (3)
The Registrant anticipates a increase in revenues of approximately $2
million for the three and nine months ended September 30, 1995 and 1994,
resulting from National Capital Benefits Corporation sales and accrued
revenue of approximately $1.3 million and $3.1 million for the three and
nine months ended September 30, 1995, and the gain of sale of The Mart
Shopping Center of $1 million in the third quarter of 1995, offset, however
by the sale of two real estate properties and recognition of the deferred
portion of the gain on the sale of the Registrant's interest in another
real estate property during 1994. The real estate division anticipates a
decline of $.2 million and $1.2 million from the three and nine months
ended September 31, 1995 compared to the same period in 1994 in total costs
and expenses. However, the viatical settlements division expects an
increase of approximately $1.3 million and $3.6 million for the same
periods. The Registrant anticipates that its net loss will increase from
$1,030,942 for the nine months ended September 30, 1994 to a loss of
approximately $1,098,000 for the nine months ended September 30, 1995,
principally resulting from the operations of National capital Benefits
Corporation offset by the sale of real estate properties.
