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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 12b-25
Commission File Number 1-10360
NOTIFICATION OF LATE FILING
(Check One): Form 10-K Form 11-K Form 20-F Form 10-Q X
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Form N-SAR
For Period Ended: September 30, 1998
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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:
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:
PART I
REGISTRANT INFORMATION
CRIIMI MAE Inc.
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Full name of registrant
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Former name if applicable
11200 Rockville Pike
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Address of principal executive office (Street and number)
Rockville, Maryland 20852
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City, state and zip code
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 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;
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(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
X date; and
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(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: On October 5, 1998, the registrant and certain of
its subsidiaries filed voluntary petitions for reorganization under Chapter 11
of the Bankruptcy Code. As a result of numerous difficulties and issues
associated with the bankruptcy, the registrant was not able to file its
Quarterly Report on Form 10-Q for the three months ended September 30, 1998 by
November 16, 1998.
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PART IV
OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification:
David Iannarone (301) 231-0354
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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). Yes X No
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(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? Yes X No
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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.
See Attachment A
CRIIMI MAE 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: /s/ November 17, 1998 By: /s/ Cynthia O. Azzara
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Cynthia O. Azzara
Senior Vice President
and Chief Financial Officer
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Attachment A
It is anticipated that the earnings statement for the three month period
ended September 30, 1998 will reflect a net loss which represents a significant
change in results of operations from the corresponding period for the last
fiscal year. Because of uncertainty related to the Company's bankruptcy, the
Company is currently unable to estimate the amount of loss. The loss is
primarily attibutable to commitments related to commercial mortgage loans in
the Company's securitization pipeline and losses on hedge positions.
