U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
Form 12b-25
NOTIFICATION OF LATE FILING
[XX] Form 10-K [ ] Form 20-F [ ] Form 11-K
[ ] Form 10-Q
[ ] Form N-SAR
For Period Ended: 03/31/98
[ ] Transition Report of Form 10-K
[ ] Transition Report of Form 20-F
[ ] Transition Report of Form 11-K
[ ] Transition Report of Form 10-Q
[ ] Transition Report of Form N-SAR
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: Not applicable
Part I - Registrant Information
Full Name of Registrant: Command Security Corporation
Former Name if Applicable: Not Applicable
Address of Principal Executive Office: Route 55, Lexington Park
Lagrangeville, NY 12540
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.)
[X] (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, Form 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 or the
transition report of Form 10-Q, or portion thereof will be filed on
or before the fifth calendar day 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, 20-F, 11-K, 10-Q,
N-SAR, or the transition report or portion thereof could not be filed within
the prescribed period:
The subject Form 10-K cannot be timely filed without unreasonable
effort or expense because of transitions in the Company's management
and reduced staffing in order to lower operating costs.
Part IV - Other Information
(1) Name and telephone number of person to contact in regard to this
notification: William C. Vassell, Chairman of the Board
(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 changes, both
narratively and quantitatively, and, if appropriate, state the
reasons why a reasonable estimate of the results cannot be made.
<PAGE>
Registrant Command Security Corporation has caused this notification
to be signed on its behalf by the undersigned thereunto duly authorized.
Date: June 29, 1998
COMMAND SECURITY CORPORTION
By:/s/ Franklyn H. Snitow
Franklyn H. Snitow, President
INSTRUCTION: The form may be signed by an executive officer of the registrant
or any other duly authorized representative. The name and title of the person
signing the form shall be typed or printed beneath the signature. If the
statement is signed on behalf of the registrant by an authorized
representative (other than an executive officer), evidence of the
representative's authority to sign on behalf of the registrant shall be filed
with the form.
ATTENTION
Intentional misstatements or omissions of fact constitute Federal Criminal
Violations (See 18 U.S.C. 1001).
<PAGE>
ATTACHMENT
Form 12b-25
PART IV-3
The Company expects a net loss of approximately $4 million for the
fiscal year ended March 31, 1998 compared to approximate net income of
$450,000 for the previous year. The primary reasons for this change in
results of operations are as follows: $1.1 million reduction in gross profit
margins as the result of increased reserves for general liability claims and
increased labor costs; $1 million increase in provisions for doubtful
accounts due primarily to GFM, a large service company client that filed for
bankruptcy; $750,000 write-down of value of intangible assets; $350,000
expense in connection with labor claims; $260,000 reversal of previous years'
income tax benefits due to increases in valuation allowances; and $600,000
increase in general and administration expenses.
