SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form l0-Q
[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended May 26, 2000
or
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the transition period from ________ to _________
Commission file number 0-19048
Bear Stearns Asset Backed Investors Corp.
(Exact name of registrant as specified in its charter)
Delaware 13-3579047
(State or other jurisdiction of (I.R.S. Employer Identification No.)
incorporation or organization)
245 Park Avenue
New York, New York 10167
(212) 272-2000
(Address, including Zip Code, and Telephone
Number, including Area Code, of Registrant's Principal
Executive Offices)
Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding twelve months (or for such shorter period that the registrant was
required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days. Yes X No
THE REGISTRANT MEETS THE CONDITIONS SET FORTH IN GENERAL INSTRUCTION H(1)(a) AND
(b) OF FORM 10-Q AND THEREFORE IS FILING THIS FORM WITH THE REDUCED DISCLOSURE
FORMAT CONTEMPLATED THEREBY.
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BEAR STEARNS ASSET BACKED INVESTORS CORP.
INDEX
Part I. FINANCIAL INFORMATION
Item 1. Financial Statements
Statements of Financial Condition (Unaudited) at May 26, 2000
and November 26, 1999
Note to Financial Statements (Unaudited)
Item 2. Management's Discussion and Analysis of Financial Condition and
Results of Operations
Part II. OTHER INFORMATION
Item 1. Legal Proceedings
Item 6. Exhibits and Reports on Form 8-K
Signature
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BEAR STEARNS ASSET BACKED INVESTORS CORP.
STATEMENTS OF FINANCIAL CONDITION
(UNAUDITED)
May 26, November 26,
2000 1999
--------------- ---------------
Assets
Cash $ 100 $ 100
--------------- ---------------
Total Assets $ 100 $ 100
=============== ===============
Stockholder's Equity
Common stock, $1.00 par value;
1,000 shares authorized; 100
shares issued and outstanding $ 100 $ 100
--------------- ---------------
Total $ 100 $ 100
=============== ===============
See Note to Financial Statements.
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BEAR STEARNS ASSET BACKED INVESTORS CORP.
NOTE TO STATEMENTS OF FINANCIAL CONDITION
(UNAUDITED)
Note 1. Organization and Basis of Presentation
Bear Stearns Asset Backed Investors Corp. (the "Company"), was organized by, and
is a direct wholly owned limited purpose subsidiary of, The Bear Stearns
Companies Inc. (the "Parent"). The Company was incorporated in the State of
Delaware on January 26, 1989.
The Company was formed solely for the purpose of issuing directly or through
trusts established by it, in series, debt obligations that are secured or
collateralized by one or more pools of retail installment sales contracts or
loan agreements secured by new or used automobile or light-duty trucks, net of
servicing and other fees, security interests in the vehicles financed thereby,
and certain other collateral.
As of May 26, 2000, the Company had not commenced operations, except for the
conduct of non-recurring organizational matters and activities, the cost for
which were borne by an affiliate. Accordingly, the Company had no results of
operations or cash flows for each of the three and six-month periods ended May
26, 2000 and May 28, 1999. As a result, no statement of cash flows is presented.
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ITEM 2. Management's Discussion and Analysis of Financial Condition and
Results of Operations.
The Company has not commenced operations and, therefore, there was no activity.
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Part II. OTHER INFORMATION
Item 1. Legal Proceedings
No legal proceedings are pending.
Item 6. Exhibits and Reports on Form 8-K
(a) Exhibits
(27) Financial Data Schedule
(b) Reports on Form 8-K
No reports on Form 8-K have been filed during the period
covered by this report.
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SIGNATURE
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange
Act of 1934, the registrant has duly caused this report to be signed on its
behalf by the undersigned, thereunto duly authorized, on the 10th day of July,
2000.
Bear Stearns Asset Backed Investors Corp.
(Registrant)
By: /s/ Samuel L. Molinaro Jr.
Samuel L. Molinaro Jr.
Chief Financial Officer
