PIONEER COMMERCIAL FUNDING CORP /NY/
NT 10-Q, 1999-08-16
MORTGAGE BANKERS & LOAN CORRESPONDENTS
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10-3-94                   General Reporting Rules                      2018-E

         The official text of Form 12b-25 is shown below.  However,  it has been
reduced for editorial reasons and should be enlarged to 8 1/2" by 11" before use
or copies may be obtained from the SEC Office of  Publications  at 202- 942-4046
or from an SEC regional office [see 30,211].  NOTE: Form 126-25 may also be used
by small  business  issuers to notify the SEC of the late  filing of FORM 10-KSB
and Form 10-QSB.


             UNITED STATES                                    OMB APPROVAL
    SECURITIES AND EXCHANGE COMMISSION                  OMB Number:   3235-0058
          Washington, D.C. 20549
                                          Estimated average burden
                                          Hours per response..........2.50

                                         FORM 12b-25

                             NOTIFICATION OF LATE FILING

(Check One):     [   ] Form 10-K    [    ] Form 20-F   [  ] Form 11-K
   [ x ]  Form 10-Q   [    ] Form N-SAR

                For Period  Ended: June 30, 1999 [ ] Transition  Report on
                Form 10-K [ ]  Transition  Report on Form 20-F [ ]  Transition
                Report on Form 11-K [ ]  Transition Report on Form 10-Q [x]
                Transition  Report  on Form  N-SAR For the Transition  Period
                Ended:

                   Read Instruction (on back page) 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

Pioneer Commercial Funding Corp.
Full Name of Registrant


Former Name if Applicable

21700 Oxnard Street, Suite 1650
Address of Principal Executive Office (Street and Number)

Woodland Hills, California 91367
City, State and Zip Code

PART II-- RULES 12b-25(b) AND (c)

If the subject  report could not be filed without  reasonable  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 on
Part III of this form could not be eliminated without
                           unreasonable effort or expense;
[     ]           (b)      The subject annual report, semi-annual report,
transition report on Form 10-K, Form 20-F, 11-K, 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.

PART III- NARRATIVE

State  below  in  reasonable  detail  why the Form  10-K,  10-Q,  N-SAR,  or the
transition  report or portion thereof,  could not be filed within the prescribed
time period, (Attach Extra Sheets if Needed)

Certain adjustments have not been completed yet as the information has
been delayed.

<PAGE>


PART IV-- OTHER INFORMATION

(1)      Name and telephone number of person in regard to this notification

         David W. Sass, Esq.                                    (212) 448-1100
                  (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 reports) been filed?  If answer no, identify report(s).
       XX      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.               Yes           XX      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.




                                Pioneer Commercial Funding Corp.
                               (Name of Registrant as Specified in Charter)

has caused this notification to be signed on its behalf by the undersigned
 hereunto duly authorized.

Date:   August 16, 1999                          By: /s/ M. Albert Nissim
    ----------------------------------------          ---------------------

INSTRUCTION: The form may be signed by an executive officer of the registrant or
by 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).


                                                GENERAL INSTRUCTION

1.       This form is required by Rule 12b-25 (17 CFR 240.12b-25) of the
         General Rules and Regulations under the Securities
         Exchange Act of 1934.

2.       One  signed  original  and  four  conformed  copies  of this  form  and
         amendments  thereto must be completed and filed with the Securities and
         Exchange  Commission,  Washington,  D.C. 20549, in accordance with Rule
         0-3 of the General Rules and Regulations under the Act. The information
         contained  in or filed  with the form  will be made a matter  of public
         record in the Commission files.

3.       A manually  signed  copy of the form and  amendments  thereto  shall be
         filed with each  national  securities  exchanged  on which any class of
         securities of the registrant is registered.

4.       Amendments to the  notifications  must also be filed on form 12b-25 but
         need not restate  information  that has been correctly  furnished.  The
         form shall be clearly identified as an amended notification.

                  5.  Electronic  Filers.   This  form  shall  not  be  used  by
electronic  filers  unable  to timely  file a report  solely  due to  electronic
difficulties. Filers unable to submit a report within the time period prescribed
due to difficulties  in electronic  filing should comply with either Rule 201 or
Rule 202 of Regulation S-T or apply for an adjustment in filing date pursuant to
Rule 13-(b) of Regulation S-T.





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