SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 12b-25
Commission File Number 0-17129
NOTIFICATION OF LATE FILING
(Check One) [ X ] Form 10-K [ ] Form 11-K [ ] Form 20-F [ ] Form 10-Q
[X] Form N-SAR
For Period Ended: December 31, 1997
[ ] 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:_________________________________
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 Clark Melvin Securities Corporation
Former name if applicable
Address of principal executive office (STREET AND NUMBER)
1414 Banco Popular Center
City, state and zip code Hato Rey, Puerto Rico 00918
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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;
[ ] (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.
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 subject to self liquidation under the
observation of the Securities Investor Protection Corporation ("SIPC")
due to an embezzlement by a broker formerly employed by the Company.
Due to the ongoing problems associated with the proceedings and
circumstances, the Company has been unable to engage its independent
accountants and only recently received verbal approval from Grant
Thornton, LLP to begin the audit. The audit is expected to begin soon
and the Company expects to file its Form 10-K as soon as possible.
PART IV
OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification
Irene Harr 410 841-6422
(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 has not been in operation since the last quarter of 1997.
The Company has incurred legal expenses associated with the legal actions as a
result of the aforementioned embezzlement. Additionally, the Company sold its
accounts to Samuel A. Ramirez, Co., Inc. for a price yet to be determined.
Clark Melvin Securities 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 March 30, 1998 By /s/ Irene Harr
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Irene Harr
Chief Financial Officer
